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The purpose of this study is to investigate the moderating roles of innovation intensity and lenders’ monitoring on the relation between financial slack and performance.

This study adopts an empirical method using data from firms listed in both the Compustat S&P500 and Boardex for the period 2010 to 2019 to analyze the effects of innovation intensity and lenders’ monitoring on the relation between financial slack and performance.

The authors find that financial slack is positively related to performance, and this relation is stronger as innovation intensity increases. Furthermore, we demonstrate that lenders’ monitoring strengthens the positive relationship between financial slack and performance.

First, this study focuses on the effects of financial slack, research and development (R&D) intensity and lenders’ monitoring on financial performance. Future research might extend this study by investigating the effects of these variables on non-financial performance. Second, the data and results do not provide insights into the reasons for firms to accumulate financial slack. Future research might conduct a longitudinal field study to understand why firms build financial slack. Finally, this study only uses R&D intensity and lenders’ monitoring as the moderating variables. Future studies might incorporate other contingency variables such as firms’ budgeting and budget-based compensation systems to provide useful insights into the relationship between financial slack and performance.

This study provides important insights into the value of financial slack for firms that invest heavily in R&D activities. This study also provides useful insight into the benefits of lenders’ monitoring to mitigate managers’ unethical behavior.

This study provides useful insights for companies that invest heavily in innovation activities by showing that financial slack is beneficial for this company and lenders’ monitoring is needed to discipline managers in using the slack resources.

This study is the first to investigate the moderating effects of innovation intensity and lenders’ monitoring on the relation between financial slack and performance. Previous studies focus their investigations on the direct effect of financial slack and performance.

The purpose of this paper is to determine the extent of total quality management (TQM) practices in primary schools based on teachers' perceptions, and how their perceptions are related to different variables.

In this study, a survey based descriptive scanning model was used. This study was carried out in Malatya city centre on teachers working at primary schools. Using stratified sampling method, 21 schools and 420 teachers working in these schools were selected randomly. A total of 396 of the questionnaires were validated and evaluated. A total of six‐dimensioned and a 60‐itemed questionnaire was administered to these teachers. Data were analysed by SPSS program.

In the perceptions of teachers, there were some problems with the indicators of TQM practices, especially on the dimension of change management. There were significant differences among teachers' perceptions on TQM practices depending upon the variables of branch, level of education and tenure, while there were no meaningful differences according to the gender variable.

The findings reveal the need for an effective change management, educating staff and utilizing human resources to attain a system‐wide quality improvement, to implement the principles of TQM.

Quality improvement is a continual process that should be taken up from the operational level to senior management. Primary schools, as the basic subsystem of educational super‐system, affect upper level schools with their outcomes. So TQM efforts at primary schools are fundamentally important to achieve a high quality education system. This paper sheds light on how to improve quality at this basic level.