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1 – 10 of over 12000James E. McNulty, George E. Morgan, Craig K. Ruff and Stephen D. Smith
The common view of many regulators and practitioners is that the minimum risk maturity gap is equal to zero. However, because of the interest sensitivity of such non‐gap items as…
Abstract
The common view of many regulators and practitioners is that the minimum risk maturity gap is equal to zero. However, because of the interest sensitivity of such non‐gap items as the average spread between asset and liability rates, lending activity, fee income and prepayments, the minimum risk gap could be significantly different from zero. We formulate and test a model for a sample of four hundred and twenty six thrift institutions. The results strongly suggest that the minimum risk maturity gap is positive for the average firm in the sample and that there is substantial cross‐sectional variability in the ratio of the minimum risk gap to assets. This suggests that attempts to regulate interest rate risk using a uniform gap as a benchmark are misdirected. Finally, we provide some evidence that there is, in fact, a positive cross‐sectional relationship between measured maturity gap positions and our estimates of the minimum risk maturity gap.
This paper gives an account of important aspects of Smith’s methods in An Inquiry Concerning the Nature and Causes of the Wealth of Nations (WN). I reinterpret Smith’s distinction…
Abstract
This paper gives an account of important aspects of Smith’s methods in An Inquiry Concerning the Nature and Causes of the Wealth of Nations (WN). I reinterpret Smith’s distinction between natural and market prices, by focusing on Smith’s account of the causes of the discrepancies of market prices from natural prices. I argue that Smith postulates a “natural course” of events in order to stimulate research into institutions that cause actual events to deviate from it. Smith’s employment of the fiction of a natural price should, thus, not be seen merely as an instance of general or partial equilibrium analysis, but, instead, as part of a theoretical framework that will enable observed deviations from expected regularities to improve his theory. For Smith theory is a research tool that allows for a potentially open-ended process of successive approximation. These are the Newtonian elements in Smith. I provide evidence from Smith’s posthumously published Essays on Philosophical Subjects (EPS, 1795), especially “The History of Astronomy” (“Astronomy”), that this accords with Smith’s views on methodology.1 By way of illumination, Smith’s explanation of the introduction of commerce in Europe is contrasted with that of Hume as presented in “Of Commerce.” I argue that Smith’s treatment is methodologically superior.
The Annual General Meeting of the Pure Food and Health Society of Great Britain was held at 20, Hanover Square, W., on February 27, the President, Sir PHILIP SASSOON, Bart, M.P.…
Abstract
The Annual General Meeting of the Pure Food and Health Society of Great Britain was held at 20, Hanover Square, W., on February 27, the President, Sir PHILIP SASSOON, Bart, M.P., in the chair. The Secretary, Mr. A. E. MOORE, read the following report of the Executive Committee:—
Frederick E. Smith and George E.J. Messmer
The New York Stale Library and the library systems in New York State have a long‐standing commitment to the use of technology to improve services, increase efficiency, and…
Abstract
The New York Stale Library and the library systems in New York State have a long‐standing commitment to the use of technology to improve services, increase efficiency, and constrain cost increases. In 1986, the Board of Regents of the State Education Department adopted a three‐part program for automation. Pursuant to this program, several important committees have been appointed that have subsequently issued key recommendations. This article addresses the formation and role of the committees and their recommendations covering: general issues, databases, linking, training and consulting, and operational objectives.
New York State has established the goal of enabling all libraries in the state—some 7,000—to become electronic doorway libraries. An electronic doorway library is a library…
Abstract
New York State has established the goal of enabling all libraries in the state—some 7,000—to become electronic doorway libraries. An electronic doorway library is a library enhanced and transformed by the use of computer and telecommunications technology to provide electronic services for its users.
George E. Smith, Kathleen J. Barnes and Claudia Harris
– This review explores the parallels between the characteristics of learning organizations and the characteristics of ethical organizations.
Abstract
Purpose
This review explores the parallels between the characteristics of learning organizations and the characteristics of ethical organizations.
Design/methodology/approach
A review of the literature was conducted to examine the characteristics of learning organizations and those that encourage and support ethical behavior.
Findings
There are significant parallels between the characteristics of learning organizations and those of ethical organizations. These include leadership, culture, communication, systems thinking, and problem-solving orientation, which are important in creating learning organizations and in encouraging ethical behavior. These parallels encourage social network stimulation, acceptance of new ideas, open discussion, the ability to disagree without rancor, a lessening of hierarchy, employees seeing themselves as part of a larger whole. All of these elements create an environment wherein organizational members are able to contend with and resolve ethical problems.
Practical implications
When endeavoring to foster an ethical organizational environment, managers can be aware of the benefits of creating a learning organization, as the two correspond closely. Additionally, managers in learning organizations can leverage this capacity to enhance ethical decision making and behavior.
Originality/value
Research on learning organizations has often centered on their value in encouraging innovation and on strategies for implementing the changes needed to establish them. This paper identifies and discusses the parallels between the characteristics of learning organizations and ethical organizations. This is an area that has not been directly explored in the extant literature.
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Wilian Gatti Junior, Alceu Salles Camargo Junior and Paul Varella
This study examines the role of hybrid products employed in companies' innovation strategy within three American industrial sectors: tires, typewriters and photography cameras.
Abstract
Purpose
This study examines the role of hybrid products employed in companies' innovation strategy within three American industrial sectors: tires, typewriters and photography cameras.
Design/methodology/approach
The authors selected historical cases that enabled us to present the role of hybrid products in periods of discontinuous change. Different sources are employed in this study: papers, books, cases, working papers, videos, manuals and product catalogues, companies' annual reports, company websites, advertising, collectors' websites and museums, in addition to press and other media reports.
Findings
The authors’ historical case analysis points to two forms of hybrid products. (1) Exploitation-hybrid, which incorporates significant elements from the existing dominant design and aims at extending the revenue-generating opportunities of the existing products. (2) Exploration-hybrid, which works as an offensive strategy, as the firm uses the exploration-hybrid to promote a gradual and controlled adoption of new technology by reducing risks and the cost of change for the customer.
Research limitations/implications
The authors’ proposed definitions strengthen the idea that hybrids are not only a reflection of organizational inertia (exploitation-hybrid). Hybrids can also mean a more proactive stance in the strategy of developing and adopting new technology (exploration-hybrid).
Originality/value
This study acknowledged hybrid products as a learning instrument that materialized the organizational ambidexterity, favoring at the same time exploitation, generally attributed to organizational inertia, and the exploration of new segments of customers or the use of new technologies.
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Bernard Forgues and Tristan May
A multimodal perspective highlights the importance of attending to the different modes, mostly verbal and visual, which organizations use when conveying messages. We complement…
Abstract
A multimodal perspective highlights the importance of attending to the different modes, mostly verbal and visual, which organizations use when conveying messages. We complement this perspective by adding an additional layer, namely the medium through which messages appear. We suggest that organizations can fine-tune messages not only by playing with possible interactions across modes, but also across media. We build our reasoning around the communication of identity claims. Specifically, we are interested in how identity elements are referenced in verbal and visual modes of meaning making, and how these modes interrelate both with one another and with the respective channels of communication on which they appear. We propose that organizations differentially select identity elements across diverse media and draw on specific identity elements modally in their quest for legitimate distinctiveness. We propose three ways in which multimodal identity claims interact: intensifying, in which messages draw from the same theme to reinforce claims; complementing, in which messages complement each other to enhance meaning; and transposing, in which a dominant theme in one message is transposed into another theme elsewhere. We provide an illustration with identity claims made by single-malt Scotch whisky distilleries.
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“What was it like over there?” we were asked from the instant we got off the Freedom Bird. And then:
Jing Zhou and Christina E Shalley
The examination of contextual factors that enhance or stifle employees’ creative performance is a new but rapidly growing research area. Theory and research in this area have…
Abstract
The examination of contextual factors that enhance or stifle employees’ creative performance is a new but rapidly growing research area. Theory and research in this area have focused on antecedents of employee creativity. In this paper, we review and discuss the major theoretical frameworks that have served as conceptual foundations for empirical studies. We then provide a review and critical appraisal of these empirical studies. Based on this review, we propose exciting possibilities for future research directions. Finally, we discuss implications of this body of work for human resource management.