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Article
Publication date: 20 April 2009

Donald Dutton and Christie Tetreault

We examine whether individual differences exist in reactions to toxic situations, reviewing historical examples of massacres. The social psychological research on the…

Abstract

We examine whether individual differences exist in reactions to toxic situations, reviewing historical examples of massacres. The social psychological research on the question consists of the famous Milgram experiment on obedience and the Stanford Prison Experiment. Although these studies show the power of situations in eliciting aggression towards targets, they overlook an essential aspect of real world behaviours ‐ the innovation of imaginative sadistic sequences that go beyond the orders given. We argue that analogue studies are too limited to capture these situations and that social psychological research has been too limited in its assessment of key relevant individual traits, one of which is a potential for sadism. Furthermore, we raise concerns about whether ‘snapshot’ analogue research can capture the transitional processes central to an understanding of real world reactions to toxicity.

Details

Journal of Aggression, Conflict and Peace Research, vol. 1 no. 1
Type: Research Article
ISSN: 1759-6599

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Abstract

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Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels
Type: Book
ISBN: 978-0-44452-122-4

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Article
Publication date: 29 July 2014

Varun Mahajan, D.K. Nauriyal and S.P. Singh

– The purpose of this paper is to measure technical efficiencies, slacks and input/output targets for 50 large Indian pharmaceutical firms.

Abstract

Purpose

The purpose of this paper is to measure technical efficiencies, slacks and input/output targets for 50 large Indian pharmaceutical firms.

Design/methodology/approach

The data are collected from Prowess of Centre for Monitoring of Indian Economy for the financial year 2010-2011. This study uses data envelopment analysis approach, taking raw material, salaries and wages, advertisement and marketing and capital usage cost as input variables and net sales revenue as output variable.

Findings

The paper finds that out of 50 firms, nine firms were overall technical efficient while 19 firms pure technical efficient and thus defined the efficient frontier. The BCC model identified that the inefficiency is either due to inefficient managerial performance or scale utilization. Further, firms are classified as high, low and middle robust firms on the basis of peer count. The study also analysed the slacks which were found to be significant in regard of some inputs, especially advertisement and marketing. The targets setting results have shown that all the inputs have significant scope for reduction.

Practical implications

The empirical results are useful in assessing the relative efficiency of the large Indian drug and pharmaceutical industry (ID&P) firms. The managers and owners can take corrective actions to reduce the cost of operations by optimizing advertising and marketing cost, capital usage cost and salary and wages so as to improve their efficiency.

Originality/value

Unlike the previous studies on the efficiency of the ID&P industry, the paper have shown the significance of improvement in managerial performance and scale utilization. In addition to this, excess inputs used in the production process and also possible target values of inputs and outputs are shown in the study. The robustness and stability of efficiency scores is also checked.

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Benchmarking: An International Journal, vol. 21 no. 5
Type: Research Article
ISSN: 1463-5771

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Book part
Publication date: 9 August 2012

Dennis Togo

The reciprocal method for allocating support department costs is preferred over the direct and step-down methods because it captures all support services provided to other…

Abstract

The reciprocal method for allocating support department costs is preferred over the direct and step-down methods because it captures all support services provided to other departments. However, even as business organizations increase the number of support departments and their costs, the adoption of the reciprocal method has been hindered by mathematical difficulties in solving simultaneous equations. This paper illustrates spreadsheet matrix functions that remove the difficulties associated with the reciprocal method. The algebraic expressions for reciprocated costs commonly presented in accounting textbooks are used to form an equivalent matrix relationship. Then spreadsheet matrix functions easily compute reciprocated costs for support departments from the matrix relationship, and also allocate the reciprocated costs to other departments.

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Advances in Accounting Education: Teaching and Curriculum Innovations
Type: Book
ISBN: 978-1-78052-757-4

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Article
Publication date: 1 January 1995

Marilyn E. Barnes

Libraries need to develop information processing systems for evaluation, budgeting, planning, and operations. Electronic spreadsheets lend themselves to a variety of…

Abstract

Libraries need to develop information processing systems for evaluation, budgeting, planning, and operations. Electronic spreadsheets lend themselves to a variety of applications, but are time‐consuming to create. A model template and macros that can be used in many different types of library data analysis have been developed here. The procedures demonstrated here can build an essential set of tools for meeting fundamental goals of administrative efficiency, effective use of library resources, staff motivation, and rational policy making.

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The Bottom Line, vol. 8 no. 1
Type: Research Article
ISSN: 0888-045X

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Article
Publication date: 6 April 2021

Opeoluwa Adeniyi Adeosun, Olumide Steven Ayodele and Olajide Clement Jongbo

This study examines and compares different specifications of the fiscal policy rule in the fiscal sustainability analysis of Nigeria.

Abstract

Purpose

This study examines and compares different specifications of the fiscal policy rule in the fiscal sustainability analysis of Nigeria.

Design/methodology/approach

This is methodologically achieved by estimating the baseline constant-parameter and Markov regime switching fiscal models. The asymmetric autoregressive distributed lag fiscal model is also employed to substantiate the differential responses of fiscal authorities to public debt.

Findings

The baseline constant-parameter fiscal model provides mixed results of sustainable and unsustainable fiscal policy. The inconclusiveness is adduced to instability in primary fiscal balance–public debt dynamics. This makes it necessary to capture regime switches in the fiscal policy rule. The Markov switching estimations show a protracted fiscal unsustainable regime that is inconsistent with the intertemporal budget constraint (IBC). The no-Ponzi game and debt stabilizing results of the Markov switching fiscal model further revealed that the transversality and debt stability conditions were not satisfied. Additional findings from the asymmetric autoregressive model estimation show that fiscal consolidation responses vary with contraction and expansion in output and spending, coupled with downturns and upturns in public debt dynamics in both the long and short run. These findings thus confirm the presence of asymmetries in the fiscal policy authorities' reactions to public debt. Further, additional evidences show the violation of the IBC which is exacerbated by the deleterious effect of the pro-cyclical fiscal policy response in boom on the improvement of the primary fiscal balance.

Originality/value

This study deviates from the extant literature by accommodating time variation, periodic switches and fiscal policy asymmetries in the fiscal sustainability analysis of Nigeria.

Details

African Journal of Economic and Management Studies, vol. 12 no. 2
Type: Research Article
ISSN: 2040-0705

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Book part
Publication date: 24 October 2013

Jonathan A. Batten, Igor Loncarski and Peter G. Szilagyi

We compare the aggregated international assets and liabilities of banks that report to the Bank for International Settlements (BIS) to establish their gross and net…

Abstract

We compare the aggregated international assets and liabilities of banks that report to the Bank for International Settlements (BIS) to establish their gross and net international exposures during recent episodes of financial crisis. Initially we consider these positions worldwide and then focus on the cross-border flows within Europe, considered in terms of core and peripheral countries. These gross and net asset–liability positions are both time-varying and respond to crisis periods, through better matching of international assets and liabilities as well as the realignment of asset positions to reduce balance sheet risks. These conclusions are consistent with other studies that utilise international banking flow data, while the European experience highlights the diversity of international position taking. This is due to the complexity of managing risks within the eurozone (EZ) and peripheral countries, and those emerging European countries that retain legacy currencies.

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Global Banking, Financial Markets and Crises
Type: Book
ISBN: 978-1-78350-170-0

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Book part
Publication date: 28 September 2020

Yuki Masujima

This chapter investigates a shock transmission path between a home country (a country where globalized banks’ headquarters are located) and a host country (Indonesia as…

Abstract

This chapter investigates a shock transmission path between a home country (a country where globalized banks’ headquarters are located) and a host country (Indonesia as the emerging market) through the lending channel of global banks’ local branches (i.e., the internal transfer channel). Using novel data of monthly individual foreign bank’s balance sheet in Indonesia, the author finds the evidence that shocks to a parent bank and a home economy are transmitted to a host economy through the foreign banks’ internal capital market. With the Indonesia banks’ capital injections and their difficulty in financing dollar funds without risk premiums since the 1998s crisis, the foreign banks’ dollar lending in Indonesia is a good showcase of internal capital markets. A change in a home stock market index and industrial production appears to have a negative effect on growth rates in foreign currency loans of foreign banks in the host market. On the other hand, high growth rates in the parent bank’s stock price in the home market lead to an increase in foreign banks’ US dollar lending in the host country. This effect does not appear in local currency lending because limited hedging instruments against foreign exchange risk results in immobility of bank capital in the local currency.

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Emerging Market Finance: New Challenges and Opportunities
Type: Book
ISBN: 978-1-83982-058-8

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Article
Publication date: 23 August 2020

Sanket Mohapatra and Jay Prakash Nagar

First, the purpose of this study is to examine the relationship between foreign-currency debt and firms' financing constraints for India, the second-largest emerging…

Abstract

Purpose

First, the purpose of this study is to examine the relationship between foreign-currency debt and firms' financing constraints for India, the second-largest emerging market economy after China. Second, this study provides insights into how firms' financing constraints evolve prior to, during and after foreign currency borrowing. Third, it demonstrates the extent to which banks' ownership status and firms' characteristics influence the relationship between foreign currency borrowing and firms' financing constraints.

Design/methodology/approach

This study uses detailed balance sheet data for 2,512 nonfinancial listed firms in India for the 1996–2016 period to provide new evidence on the relationship between foreign currency borrowing and firms' financing constraints. This study uses a well-known measure of firms' financing constraints, the sensitivity of investment to internal cash flows (Fazzari et al., 1988, 2000; Hubbard, 1999; Love, 2003).

Findings

Financing constraints tend to be higher for firms with foreign currency debt exposure compared to other firms. Financing constraints are higher prior to new foreign currency borrowing (FCB), but decrease subsequently. Firms that have relationships with privately owned banks or foreign banks have higher financing constraints when undertaking new FCB than those with exclusive relationships with government-owned banks. Financing constraints for firms with FCB are higher during domestic credit booms than other periods. Nonmanufacturing firms and those with lower than median export revenues and higher than median tangible assets experience greater financing constraints compared to other firms when they undertake FCB.

Originality/value

The findings of this study suggest that although firms which borrow in foreign currencies are initially more financially constrained than other firms, the foreign currency borrowing reduces their financing constraints. The findings on how global and domestic macroeconomic conditions and firm-specific characteristics influence the relationship between financing constraints and foreign currency borrowing can provide directions for policy to better leverage the benefits of international financial integration.

Details

Managerial Finance, vol. 47 no. 2
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 15 January 2020

Vighneswara Swamy

The significant economic weight of the Eurozone in the globe caused the contagion of the Eurozone debt crisis on the emerging markets. The Eurozone debt crisis caused the…

Abstract

Purpose

The significant economic weight of the Eurozone in the globe caused the contagion of the Eurozone debt crisis on the emerging markets. The Eurozone debt crisis caused the sudden plummeting of the cross-border bank credit (BC) to India causing a significant impact on bank lending in India. Essentially, the purpose of this study is to find an answer to the question: Did the decline in cross-border cross-credit from Eurozone had an impact on domestic BC in India?

Design/methodology/approach

Using the data for the period from 2000 to 2013 sourced from Bank for International Settlements international banking statistics consolidated data sets, the novel specification of the study captures the impact of Eurozone cross-border credit on India by developing two regression frameworks that capture the pre-Euro debt crisis period scenario and post-Euro debt crisis period scenario.

Findings

The results offer a very interesting analogy of the behavior of BC and cross-border credit during the pre and post-Eurozone crisis scenarios of analysis. During the pre-Eurozone crisis period, cross-border credit displayed a significant negative relationship with BC indicating that cross-border credit to the Indian firms indirectly benefitted the banks by creating increased demand for domestic BC. The post-Eurozone crisis period witnessed a nexus between cross-border credit and BC during the pre-Eurozone crisis period, which gradually disappeared largely because of the onset of the Eurozone crisis.

Originality/value

This study is a first of its kind in investigating the impact of the Eurozone crisis on an emerging economy like India. This study supports the hypothesis of the existence of the transmission of financial shocks through the balance sheets of international banks. The findings conform to the policy concerns of most of the emerging economies that international banks transmit financial shocks from their home countries. The implication for India and other emerging economies is that international credit growth deserves careful monitoring.

Details

Journal of Financial Economic Policy, vol. 12 no. 4
Type: Research Article
ISSN: 1757-6385

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