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Article
Publication date: 7 September 2020

Kelly Carter

The purpose of this paper is to measure the effect of superstar gig workers, defined as independent contractors who are the most successful in their field, on shareholder…

Abstract

Purpose

The purpose of this paper is to measure the effect of superstar gig workers, defined as independent contractors who are the most successful in their field, on shareholder value. Gig workers comprise as much as 33% of the workforce and are projected to exceed 50% by 2028. Thus, understanding their impact on shareholder value is important.

Design/methodology/approach

This paper uses OLS regression analysis. To establish causality regarding wealth effects, the sudden deaths of superstar gig workers are used. To facilitate the uncontaminated measurement of wealth effects, sudden deaths that coincide with a significant event on a [−3, 3] window about the death event are not used.

Findings

The sudden death of a superstar gig worker causes shareholder wealth to increase significantly by 0.35% or almost $1.5m. Rational and behavioral explanations are offered for this result.

Research limitations/implications

Generalizability is limited because data on superstar gig workers in traditional corporations are unavailable. For this reason, this paper uses the only available data, namely, data on superstar wrestlers, who are contracted to perform in matches (i.e. “gigs”) in a lucrative promotion (e.g. World Wrestling Entertainment (WWE)). Future research could examine the effect of corporate gig workers on shareholder value if the data become available at some point.

Originality/value

This paper is the first to document the effects of any type of gig worker, whether superstar or regular, on shareholder value.

Details

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

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Article
Publication date: 22 April 2020

Ronald Bachmann, Rahel Felder and Marcus Tamm

This paper analyses how the employment histories of cohorts born after World War II in Germany have changed. A specific focus is on the role of atypical employment in this context.

Abstract

Purpose

This paper analyses how the employment histories of cohorts born after World War II in Germany have changed. A specific focus is on the role of atypical employment in this context.

Design/methodology/approach

This paper uses data from the adult cohort of the National Educational Panel Study and presents descriptive evidence on employment patterns for different cohorts. In addition, a sequence analysis of employment trajectories illustrates key aspects related to the opportunities and risks of atypical employment.

Findings

Younger cohorts are characterised by acquiring more education, by entering into employment at a higher age and by experiencing atypical employment more often. The latter is associated with much higher employment of women for younger cohorts. The sequence analysis reveals that the proportion of individuals whose entry into the labour market is almost exclusively characterised by atypical employment rises significantly across the cohorts. Moreover, a substantial part of the increase in atypical employment is due to the increased participation of women, with part-time jobs or mini-jobs playing an important role in re-entering the labour market after career breaks.

Originality/value

The most important contribution of this article to the existing literature lies in the life course perspective taken for different birth cohorts. The findings are of great interest to the general debate about the success of the German labour market in recent decades and its implications for individual labour-market histories, but also about rising income inequality at about the same time.

Details

Evidence-based HRM: a Global Forum for Empirical Scholarship, vol. 8 no. 2
Type: Research Article
ISSN: 2049-3983

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Article
Publication date: 18 May 2020

Kelly Carter

Much evidence exists that rational investors factor rational information into their valuation of shares. This paper aims to examine whether sentimental investors do the same.

Abstract

Purpose

Much evidence exists that rational investors factor rational information into their valuation of shares. This paper aims to examine whether sentimental investors do the same.

Design/methodology/approach

To investigate this issue, the author measures sentimental investors’ reaction to the surprise player transactions of the Boston Celtics, which traded on the New York Stock Exchange for 18 years. The team’s shares were bought mainly as souvenirs by sports fans, whose largely unwavering support makes them perhaps the least likely investors to be influenced by rational information. Thus, if the team’s share price changes because of the arrival of rational information, evidence that sentimental traders price rational information into their valuation of a stock will exist.

Findings

An acquired player’s salary, education and firm-specific experience with the Boston Celtics cause higher returns. This result provides evidence that sentimental traders factor rational information into their valuations of shares. On a broader scale, the findings underscore the importance of rational information to the valuation process, as even sentimental investors price rational information into a stock that is held for sentimental reasons. Moreover, the results are consistent with the nudge theory, in that the arrival of rational information encourages (i.e. nudges) sentimental investors to price the rational information as a rational investor world.

Originality/value

This study is the first to show that sentimental traders also factor rational information into the valuation process – an idea that was likely assumed prior to this study, but was never substantiated.

Details

Managerial Finance, vol. 46 no. 9
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 9 April 2018

Sarbajit Chaudhuri and Anindya Biswas

Some recent empirical studies have found that developing countries are more prone to external terms-of-trade shocks compared to developed nations. With this background…

Abstract

Purpose

Some recent empirical studies have found that developing countries are more prone to external terms-of-trade shocks compared to developed nations. With this background, the purpose of this paper is to the question of whether developing countries possess any built-in mechanism that can cope with external terms-of-trade (TOT) shocks both theoretically and empirically.

Design/methodology/approach

This paper uses a two-sector, full-employment general equilibrium model with endogenous labour market distortion to conduct its theoretical analysis and then uses an annual panel dataset of 13 small developing countries over the recent time period of 2000-2012 to substantiate its theoretical findings.

Findings

Theoretically, this study finds that developing countries possess an inherent shock-absorbing mechanism that stems from their peculiar institutional characteristics and can lessen the gravity of detrimental welfare consequence of exogenous TOT movements. This analytical result has been found to be empirically valid based on a panel dataset of 13 countries from 2000-2012.

Originality/value

The authors’ analyses suggest that that the developing countries should take utmost caution before adopting the policy of labour market reform because these might impair the effectiveness of their in-built shock-absorbing mechanism against adverse international price movements.

Details

Indian Growth and Development Review, vol. 11 no. 1
Type: Research Article
ISSN: 1753-8254

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Book part
Publication date: 21 November 2014

Eduardo Melero

A model of reputation is developed to show how firms operating in concentrated sectors can use the sponsorship of general human capital investments to specifically trained…

Abstract

A model of reputation is developed to show how firms operating in concentrated sectors can use the sponsorship of general human capital investments to specifically trained workers as a device of commitment with prospective employees. Employees of firms that operate in concentrated sectors learn skills that are valuable only for a limited number of alternative employers. This gives monopsonistic power to the training firm over the trained workers. Anticipating it, potential employees will be reluctant to work for the firm unless the employer is able to commit oneself’ must be turned back to ‘herself. I argue that human resource policies including the provision of general human capital to workers reduce employers’ commitment costs. Evidence from two representative samples of workers from Spain and the United Kingdom show that, consistent with the predictions of the model, firms from more concentrated sectors are more likely to sponsor their employees’ education.

Details

International Perspectives on Participation
Type: Book
ISBN: 978-1-78441-169-5

Keywords

Open Access
Article
Publication date: 11 June 2020

Hannu Piekkola

This paper analyzes the productivity effects of structural capital such as research and development (R&D) and organizational capital (OC). Innovation work also produces…

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1002

Abstract

Purpose

This paper analyzes the productivity effects of structural capital such as research and development (R&D) and organizational capital (OC). Innovation work also produces innovation-labor-biased technical change (IBTC) and knowledge spillovers. Analyses use full register-based dataset of Finnish firms for the period 1994–2014 from Statistics Finland.

Design/methodology/approach

Intangibles are derived from the labor costs of innovation-type occupations using linked employer-employee data. The approach is consistent with National Accounting and offered as one method in OECD (2010) and applied in statistical offices, e.g. in measuring software. The EU 7th framework Innodrive project 2008–2011 extended this method to cover R&D and OC.

Findings

Methodology is implementable at firm-level and offers way to link personnel reporting to intangible assets. The OC-IBTC as well as total resources allocated to OC are relevant for productivity growth. The R&D stock is relatively higher but R&D-IBTC is smaller than OC-IBTC. Public policy should, besides technology policy, account for OC and OC-IBTC and related knowledge spillovers in the industries that are most important among the SMEs (low market-share-firms).

Research limitations/implications

The data are based on remote access to Statistics Finland; the data cannot be disseminated.

Originality/value

Intangible assets are measured from innovation work that encompasses not only R&D work. IBTC is proxied in production function estimation by relative compensations on IA work. The non-competing nature of IAs is captured by IA knowledge spillovers. The sample sizes are much higher than in earlier studies on horizontal knowledge spillovers (such as for SMEs,) thus bringing additional generality to the results.

Details

Journal of Intellectual Capital, vol. 21 no. 5
Type: Research Article
ISSN: 1469-1930

Keywords

Open Access
Article
Publication date: 25 September 2020

Umar Habibu Umar

This study explores the benefits of business financial inclusion from the Islamic perspective in Nigeria by selecting Kano state as a case study.

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Abstract

Purpose

This study explores the benefits of business financial inclusion from the Islamic perspective in Nigeria by selecting Kano state as a case study.

Design/methodology/approach

Primary data were generated through semi-structured interviews with experts who comprised professional accountants/consultants and experienced traders. Thematic analysis was applied to examine the data collected. In addition, observations were made in some selected stores and shops to complement the interview results.

Findings

The study finds that the benefits of business financial inclusion include recordkeeping improvement, reduction of the risks of bad debts, reduction of the risks associated with cash, enhancing business zakāh for poverty alleviation, sales improvement and business growth, getting supports from government and other development organizations and the provision of employment opportunities.

Research limitations/implications

This study is purely qualitative, and, as such, it has some limitations in terms of generalization.

Practical implications

The practical implication of this study is that the use of electronic payment methods, especially point of sales, enhances the business financial inclusion, which consequently maximizes their wealth and contributes to the reduction of poverty to the barest minimum in the society.

Social implications

The social implication of the findings is that businesses that are financially included are in a better position to discharge religious, philanthropic and other benevolent activities, such as zakāh, qard hasan, waqf and sadaqah, for the welfare of the ummah.

Originality/value

The study points out the benefits of financial inclusion not only to businesses but also to other members of the society at large.

Details

Islamic Economic Studies, vol. 28 no. 1
Type: Research Article
ISSN: 1319-1616

Keywords

Content available
Article
Publication date: 1 December 2000

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197

Abstract

Details

Aircraft Engineering and Aerospace Technology, vol. 72 no. 6
Type: Research Article
ISSN: 0002-2667

Keywords

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Book part
Publication date: 12 July 2021

Geok Teng Leong, Charles Hin Joo Bong, Fang Yenn Teo and Aminuddin Ab. Ghani

This study explores the concept of hydraulic flushing gate with an automated control system as a flow control structure of the urban storm water system. The research team…

Abstract

This study explores the concept of hydraulic flushing gate with an automated control system as a flow control structure of the urban storm water system. The research team has implemented a flush gate with the automated control system to the flow of the water in a drainage channel. The flow control structure was used to determine the effectiveness of such design by applying the concept of virtually on a real-world drainage system at Jalan Astana, Kuching. Computer representations of the existing drainage system and flow control structure were built using EPA SWMM 5.0 model. The series of flow control structure was proven to hold the runoff from 10-year storm. The modelling result shows that there is 25.9% of flow reduction at outlet node. As a modification of the existing drainage system in the urban area involves high construction cost, by installing a flow control structure in the drainage system is an innovative way to control the flow of the water.

Details

Water Management and Sustainability in Asia
Type: Book
ISBN: 978-1-80071-114-3

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Article
Publication date: 1 June 1994

K Qassim

Describes the increasing need for simple and efficient antennas andlooks at the performance of quarter wavelength and helical antennas.Concludes the optimum performances…

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157

Abstract

Describes the increasing need for simple and efficient antennas and looks at the performance of quarter wavelength and helical antennas. Concludes the optimum performances from both antennas are ruled by the choice of a suitable ground plane. The helical antenna is capable of producing a circularly polarized field, whereas the quarter wavelength antenna produces only linearly polarized fields. Both types exhibit low efficiency, with the helical antenna being less efficient owing to its short structure.

Details

Sensor Review, vol. 14 no. 2
Type: Research Article
ISSN: 0260-2288

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