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1 – 10 of 693Laurence Copeland and Joseph T. Elliott
The paper aims to investigate the effectiveness of the ban on short trading of stocks on the London Stock Exchange, introduced in September 2008 in the immediate aftermath of the…
Abstract
Purpose
The paper aims to investigate the effectiveness of the ban on short trading of stocks on the London Stock Exchange, introduced in September 2008 in the immediate aftermath of the collapse of Lehman Brothers. In particular, the paper investigates how far the ban succeeded in achieving the objectives set out by the regulator, the Financial Services Authority (FSA).
Design/methodology/approach
The approach involves comparing the returns on a portfolio of stocks covered by the short-sales ban with a portfolio of financial stocks exempt from the ban as a control group.
Findings
The paper presents evidence to show the effects to the ban to have been mostly confined to a large first-day return. Beyond that, there is some evidence that volatility was diverted from stocks covered by the ban to those for which short-sales were still permitted. Investors seem to have been wary of buying banned stocks when good news arrived, presumably out of fear that they may be overpriced.
Research limitations/implications
All event studies are subject to the curse of the counterfactual: what would have happened if the event had not occurred? The problem is especially acute here, however, because the background was the most turbulent in modern economic and financial history.
Practical implications
The paper shows the limited value of short-sales bans over anything beyond the very short-term.
Originality/value
This paper helps to inform regulatory decision-making in financial crises.
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The purpose of this paper is to extend the notion of strategic leadership, that which has been primarily applied to for profit organizations, to nonprofits, specifically the…
Abstract
Purpose
The purpose of this paper is to extend the notion of strategic leadership, that which has been primarily applied to for profit organizations, to nonprofits, specifically the church setting.
Design/methodology/approach
The research employs a case study methodology and draws primarily upon qualitative data collected from interviews and observation.
Findings
The findings reveal that over the past several years, the organization and its members have undergone a number of incremental and more radical changes. Much of this change has been attributed to the vision and leadership style of the current leader. Four key themes illuminate the processes and content of change under this strategic leader, including unsettlingly the status quo, model of shared leadership, shared vision and culture of community and learning.
Research limitations/implications
The findings are based upon one case study site and this limits the generalizability of the research. In addition, exposure to the organization was limited to short periods of time on-site and the sample size was relatively small.
Practical implications
Achieving success in nonprofits requires leaders to have an intimate understanding of the complex nature of stakeholder relations and measuring success needs to be multi-dimensional in nature and linked directly to the mission and context of the organization, rather than based solely on generic measures.
Originality/value
There is limited research to date that examines the applicability of leadership theories that have been traditionally applied to for profit and public sector organizations to nonprofits. The research extends the notion of strategic leadership from the for profit setting to nonprofit organizations generally, and more specifically to the church setting.
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Vita Glorieux, Salvatore Lo Bue and Martin Euwema
Crisis services personnel are frequently deployed around the globe under highly demanding conditions. This raises the need to better understand the deployment process and more…
Abstract
Purpose
Crisis services personnel are frequently deployed around the globe under highly demanding conditions. This raises the need to better understand the deployment process and more especially, sustainable reintegration after deployment. Despite recent research efforts, the study of the post-deployment stage, more specifically the reintegration process, remains fragmented and limited. To address these limitations, this review aims at (1) describing how reintegration is conceptualised and measured in the existing literature, (2) identifying what dimensions are associated with the reintegration process and (3) identifying what we know about the process of reintegration in terms of timing and phases.
Design/methodology/approach
Following the preferred reporting items for systematic reviews and meta-analyses (PRISMA) protocol, the authors identified 5,859 documents across several scientific databases published between 1995 and 2021. Based on predefined eligibility criteria, 104 documents were yielded.
Findings
Research has primarily focused on descriptive studies of negative individual and interpersonal outcomes after deployment. However, this review indicates that reintegration is dynamic, multi-sector, multidimensional and dual. Each of its phases and dimensions is associated with distinct challenges.
Originality/value
To the authors’ knowledge, this is the first research that investigates reintegration among different crisis services and provides an integrative social-ecological framework that identifies the different dimensions and challenges of this process.
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THE Reference Department of Paisley Central Library today occupies the room which was the original Public Library built in 1870 and opened to the public in April 1871. Since that…
Abstract
THE Reference Department of Paisley Central Library today occupies the room which was the original Public Library built in 1870 and opened to the public in April 1871. Since that date two extensions to the building have taken place. The first, in 1882, provided a separate room for both Reference and Lending libraries; the second, opened in 1938, provided a new Children's Department. Together with the original cost of the building, these extensions were entirely financed by Sir Peter Coats, James Coats of Auchendrane and Daniel Coats respectively. The people of Paisley indeed owe much to this one family, whose generosity was great. They not only provided the capital required but continued to donate many useful and often extremely valuable works of reference over the many years that followed. In 1975 Paisley Library was incorporated in the new Renfrew District library service.
Film provides an alternative medium for assessing our interpretations of cultural icons. This selective list looks at the film and video sources for information on and…
Abstract
Film provides an alternative medium for assessing our interpretations of cultural icons. This selective list looks at the film and video sources for information on and interpretations of the life of Woody Guthrie.
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In a previous article we have called attention to the danger of eating tinned and bottled vegetables which have been coloured by the addition of salts of copper and we have urged…
Abstract
In a previous article we have called attention to the danger of eating tinned and bottled vegetables which have been coloured by the addition of salts of copper and we have urged upon the public that no such preparations should be purchased without an adequate guarantee that they are free from copper compounds. Copper poisoning, however, is not the only danger to which consumers of preserved foods are liable. Judging from the reports of cases of irritant poisoning which appear with somewhat alarming frequency in the daily press, and from the information which we have been at pains to obtain, there can be no question that the occurrence of a large number of these cases is to be attributed to the ingestion of tinned foods which has been improperly prepared or kept. It is not to be supposed that the numerous cases of illness which have been ascribed to the use of tinned foods were all cases of metallic poisoning brought about by the action of the contents of the tins upon the metal and solder of the latter. The evidence available does not show that a majority of the cases could be put down to this cause alone; but it must be admitted that the evidence is in most instances of an unsatisfactory and inconclusive character. It has become a somewhat too common custom to put forward the view that so‐called “ptomaine” poisoning is the cause of the mischief; and this upon very insufficient evidence. While there is no doubt that the presence in tinned goods of some poisonous products of decomposition or organic change very frequently gives rise to dangerous illness, so little is known of the chemical nature and of the physiological effects of “ptomaines” that to obtain conclusive evidence is in all cases most difficult, and in many, if not in most, quite impossible. A study of the subject leads to the conclusion that both ptomaine poisoning and metallic poisoning—also of an obscure kind—have, either separately or in conjunction, produced the effects from time to time reported. In view of the many outbreaks of illness, and especially, of course, of the deaths which have been attributed to the eating of bad tinned foods it is of the utmost importance that some more stringent control than that which can be said to exist at present should be exercised over the preparation and sale of tinned goods. In Holland some two or three years ago, in consequence partly of the fact that, after eating tinned food, about seventy soldiers were attacked by severe illness at the Dutch manœuvres, the attention of the Government was drawn to the matter by Drs. VAN HAMEL ROOS and HARMENS, who advocated the use of enamel for coating tins. It appears that an enamel of special manufacture is now extensively used in Holland by the manfacturers of the better qualities of tinned food, and that the use of such enamelled tins is insisted upon for naval and military stores. This is a course which might with great advantage be followed in this country. While absolute safety may not be attainable, adequate steps should be taken to prevent the use of damaged, inferior or improper materials, to enforce cleanliness, and to ensure the adoption of some better system of canning.
Wayne Borchardt, Takhaui Kamzabek and Dan Lovallo
A decade after Powell et al.’s (2011) seminal article on behavioral strategy, which called for models to solve real-world problems, the authors revisit the field to ask whether…
Abstract
Purpose
A decade after Powell et al.’s (2011) seminal article on behavioral strategy, which called for models to solve real-world problems, the authors revisit the field to ask whether behavioral strategy is coming of age. The purpose of this paper is to explain how behavioral strategy can and has been used in real-world settings.
Design/methodology/approach
This study presents a conceptual review with case study examples of the impact of behavioral strategy on real-world problems.
Findings
This study illustrates several examples where behavioral strategy debiasing has been effective. Although no causal claims can be made, with the stark contrast between the negative impact of biased strategies and the positive results emerging from debiasing techniques, this study argues that there is evidence of the benefits of a behavioral strategy mindset, and that this should be the mindset of a responsible strategic leader.
Practical implications
This study presents a demonstration of analytical, debate and organizational debiasing techniques and how they are being used in real-world settings, specifically military intelligence, Mergers and acquisitions deal-making, resource allocation and capital projects.
Social implications
Behavioral strategy has broad application in private and public sectors. It has proven practical value in various settings, for example, the application of reference class forecasting in large infrastructure projects.
Originality/value
A conceptual review of behavioral strategy in the wild.
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The three‐day working week, with the Machine as master of man, never materialized. But, as Simon Peterson reports, automation has found a new area in tackling the problems of the…
Abstract
The three‐day working week, with the Machine as master of man, never materialized. But, as Simon Peterson reports, automation has found a new area in tackling the problems of the environment. Joe Wiltshire, pictured right, managing director of GEC‐Elliott Automation, points out that there is an increase in all things which help to control the quality of life.
Basing himself on the premise that present economic progress cannot follow the ‘Business as usual paradigm’ and hope for continued and unlimited progress, the author holds that we…
Abstract
Basing himself on the premise that present economic progress cannot follow the ‘Business as usual paradigm’ and hope for continued and unlimited progress, the author holds that we need to look into the larger dimensions of growth and development, which include social, environmental and other complex factors. So in this chapter, the author makes some pertinent suggestions for a sustainable growth model inspired by green growth and degrowth.
The first section evaluates the salient features of green growth and its drawbacks. It is followed by a discussion on the notion of degrowth, with its challenge to change the direction of growth (economic, ecological, social and cultural), without which human civilisation, as we know it today, may not survive. Finally, in the concluding chapter, based on these two notions of green growth and degrowth, an all-inclusive and sustainable regrowth model is propounded.
By creating an awareness of the need to shift development goals and Corporate Social Responsibility (CSR), the author argues that we could use economic regrowth strategically and responsibly to make the world more sustainable and viable. Responsible corporates will make their contribution to such an organic, resilient and sustainable regrowth and their CSR activities could be the starting point for this change, without which humanity's future is seriously threatened.
Finally, the author acknowledges that humanity has profited from the tremendous technological and economic progress we have made in the last four centuries, learnt from its mistakes and are ready to reorient ourselves individually and collectively towards a sustainable economic regrowth.
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