Search results

The purpose of this study is to explore at what stage of a company’s life cycle the theory of market timing has explained debt. Drawing on a unified conceptual framework of market timing theory, the authors scrutinize the impact of life cycle and ownership structure on the market condition.

Based on a sample of 24 Tunisian companies listed on the stock exchange and 100 French firms listed on the CAC All-Tradable on a 10-year period, this paper grounded the market timing theory and attempted to clear the relation between ownership structure, life cycle of the firm and market timing theory by statistical analysis.

The findings of panel data modeling indicate that when the life cycle was used as an explanatory variable, it was found that the variable reflecting the market timing is not significant in either context; it means that no significant support is found in the theory of market timing in both countries. Whereas when the life cycle was used as a dummy variable, it was found that the life cycle has an impact on debt only in the Tunisian context.

This study has several important implications for researchers and practitioners. The findings reported here clarify the strength of the impact of life cycle on the market timing, when it explains the debt in the two contexts and the impact of ownership structure such as the managerial ownership and concentration of capital on debt.

This study contributes to examine the theory of debt in different phases of life cycle. Focused on the case of Tunisian and French firms, this study is unique and valuable.

In the UK and countries following similar systems of doctoral assessment, there is little research-based evidence about what goes on in vivas. However, “doctoral assessment ‘horror stories’”, abound. The purpose of this paper is to report a study focussing on difficult doctoral examining experiences and argue that sharing such stories can provide a useful basis for examiner and supervisor education.

The study took a narrative auto/biographical approach.

The stories participants told show that doctoral examining is relational, emotional and ethical work and that viva outcomes are strongly influenced by subjectivities. There was felt to be a need to share stories of difficulties in order to bring them into the open with a view to prompting transformational change.

Participants were self-selecting and all worked at the same institution.

There are few accounts of examiners’ experiences of the viva.

Derived from leader–member exchange theory, this study hypothesises the relationships between work–family related managerial support and affective commitment and job satisfaction, and advocates that these relationships are mediated by work–family conflict.

The model was tested in an Australian manufacturing organisation using survey data from employees, using structural equation modelling in Analysis of Moment Structures (AMOS).

The findings suggest that enhanced work–family related managerial support will decrease work–family conflict, eventually enhancing employees' affective commitment and job satisfaction.

This study provides important insights into the impact of managerial support on improvements in employees' work–family conflict, and, in turn, its impact on affective commitment and job satisfaction, in the Australian context.

源自領導者-成員交換理論，本研究就與工作、家庭有關的管理支援與情感承諾和工作滿足感之間的關係提出假設，並主張工作家庭衝突是引發這些關係的媒介。

有關的模型使用來自員工的調查數據，並使用AMOS內的結構方程式模式，在澳洲一個製造業組織內被測試。

研究結果暗示、若加強與工作家庭有關的管理支援，則工作家庭衝突便會減少，而這最後將會增加員工的情感承諾和工作滿足感。

本研究提出了重要的見解，使我們更了解在澳洲的背景下，管理支援對改善僱員工作家庭衝突之作用，進而更明白管理支援對情感承諾和工作滿足感的影響。

Although it has often been studied in finance research, the relationship between dividend yields and stock returns remains an unresolved issue, especially in the Korean stock market. When firms continue to pay non-decreasing dividends for three or five years, they may establish a dividend reputation, which could affect this relationship. The author found firms that pay more dividends, larger firms, older firms, more profitable firms, less leveraged firms, firms with less volatile returns, firms with foreign holdings of more than 5%, and firms with more concentrated ownership build dividend reputations. The author also found that the relationship between dividend yields and future stock returns depends on a firm’s dividend reputation. The evidence shows that when firms with higher yields have dividend reputations, they produce higher future returns, whereas there is no significant relationship between yields and returns for firms with no reputation. These results are inconsistent with the findings of studies that use developed market data. In addition, when larger firms with higher growth potential and firms with less concentrated ownership have dividend reputations, future returns are higher.