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In both the United States and Europe there has been a spectacular growth in the number and importance of management buy‐outs since the late 1970s. The typical characteristics of these deals differ somewhat on either side of the Atlantic in ways which are outlined below. However, in each environment the term “buy‐out” refers essentially to the transfer of ownership of the assets of an existing firm — which may itself be an independent entity or a wholly‐owned subsidiary or division — to a new and especially established group of equity holders which intends to keep at least some of those assets in their former use. In the US buy‐outs have often involved very large asset transfers, indeed multi‐billion dollar deals have been quite frequent. The transaction is typically financed by a limited subscription of equity from specialist venture capitalists and perhaps from the firm's management, together with a very large input of debt capital. The latter has often been in the form of high coupon (so called “junk”) bonds. The characteristically high ratio of debt to equity in buy‐out finance has given rise to their American description as leveraged buy‐outs.

The article seeks to shed light on the effects of recent developments in financial services on the organisational structure and strategic planning process in banks and building societies. Evidence is used from a survey of the sector to assess the nature and relative importance of problems experienced by banks and building societies; and evidence is presented on developments in strategic planning techniques and the problems caused by the introduction of new products.

This study aims to directly examine the relationships between various aspects of human capital and relationship stability (overlapping tenure) and team performance. Additionally, this study aims to contribute to strategic human resource management and human capital research by placing an emphasis on human resources (i.e. people) and their influence on performance.

The direct and interaction effects of human capital and overlapping tenure on performance are examined with a sample of 230 National Collegiate Athletic Association (NCAA) men's basketball teams in the 2006‐2007 season. A third party measure of basketball players' human capital is aggregated to the team level to examine its relationship with team performance. Additionally, the human capital of the head coach of each team and its relationship with team performance is examined. Relationship stability is assessed by measuring overlapping tenure, which is defined as the amount of time individuals have worked together towards a common performance outcome. Team level overlapping tenure among players and the overlapping tenure between players and their head coach are measured and their relationships with team performance are tested. Finally, the interaction effect of players' human capital and players' overlapping tenure on team performance is examined. Hierarchical regression is used to test each hypothesis.

The results find a positive relationship between both players' and coaches' human capital and performance. Also, players' overlapping tenure is positively related to performance. Lastly, the interaction between players' human capital and players' overlapping tenure is not significantly related to performance.

There has been a growing interest in human resources (i.e. people) as a source of competitive advantage. This study employs a unique sample of NCAA men's basketball teams to theoretically develop and empirically test relationships among human capital, overlapping tenure, and performance. Different from previous studies, an objective, third party measure of human capital and measurements of overlapping tenure are utilized and their direct and interaction effects on team performance are examined. The results of this study point to the importance of acquiring and retaining high levels of human capital.

The purpose of this paper is to analyze potentially significant differences in a series of relevant characteristics of universities’ technology transfer offices (TTOs). To this end, TTOs have been classified by the function of their resources assigned to the enhancement of university entrepreneurship. The factors analyzed are the number of academic spin-offs created with the support of TTOs as well as the TTOs’ age, experience, professionalization and relational capital.

The authors have performed a hierarchical agglomerative cluster analysis to identify the groups of TTOs with homogeneous behavior and features. This multivariate technique allows determining whether it is possible to identify some differentiated conglomerates of TTOs.

The results of the cluster analysis allow concluding that the number of academic spin-offs created with the support of TTOs, the age and degree of professionalization of these TTOs, the experiences of their employees in matters related to entrepreneurship and their relationships with market actors explain the different levels of commitment of TTOs toward the enhancement of university entrepreneurship. In contrast with the expected results, the relationship between TTOs and academic actors does not seem to explain such differences.

This research contributes to the identification of the particular design characteristics that TTOs should exhibit to promote the entrepreneurial performance of universities, offering important recommendations to academic institutions regarding the efficient design of TTOs to manage university ambidexterity and to build TTOs’ entrepreneurial identity.

During the course of the 1980's, the market environment facing the personal financial services sector has undergone a radical change which has forced market participants into a period of strategic realignment. In part this change has been demand driven as a result of both an increase in the volume of personal savings and a requirement for increasingly sophisticated products from a more financially aware consumer. However, many of the most visible developments have been supply driven, in the form of extensive deregulation, developments in information technology and the associated globalisation of financial markets.

Despite growing scholarly interest in academic entrepreneurship (AE) few studies have examined its non-commercial aspects and how it contributes to meeting grand societal challenges. One explanation for this may be the continuing focus of AE on intellectual property commercialization. This paper aims to address this knowledge gap by uncovering how universities can contribute to promoting non-commercial forms of AE.

This paper uses the human capital theoretical lens to make its argument and applies it to data obtained from exploratory qualitative research (55 semi-structured interviews and nine focus groups) in the developing countries of Bolivia, Colombia and Ecuador.

Universities can promote different forms of non-commercial AE even in the absence of sophisticated resources for innovation, through the stimulation of the specific human capital of the university community resulting from activities where they help others.

This paper proposes a general framework for advancing theory development in AE and its non-commercial forms, based on data obtained in uncharted territories for AE.

The purpose of this paper is to offer a perspective on the future of the human resource management (HRM)-performance debate and its prospects for interaction with practice by evaluating the debate's intellectual structure.

With co-citation analysis the paper examines the intellectual structure that informed the HRM-performance debate. The findings were presented to a group of academics, who have been influential in the development of the debate. In several rounds of a quasi-Delphi interaction they discussed the state of the art, future development of the debate, upcoming theoretical sources of inspiration and topics on which they (dis)agreed.

The dominant knowledge domain is built upon resource-based view, social exchange theory, human capital theory, institutional theory and critical perspective. It became well established in the mid 1990s, when the strategic HRM domain merged with the high performance work systems domain, thus forming the conceptual backbone of the debate. More recently the debate has been informed by review studies, meta-analyses and critical reflections on the current methodological paradigms, which is aligned with the debate's life cycle stage.

The paper highlights the theoretical foundations of the HRM-performance debate and gives valuable suggestions on how to take the field forward along with important implications for researchers and their relationship with the business community.

This study aims to investigate whether digital advertising can be effective despite consumer inattention and how certain common combinations of ad characteristics increase or decrease ad effectiveness under conditions of low attention.

Using two online experiments in naturalistic environment, the authors compare ad effects under focussed, divided and incidental attention, for certain ad characteristics, namely, appeal type and (mis)matching between appeal and brand type. The results are analysed using logistic regression.

Ad exposure under low attention does increase brand consideration and choice. The greatest uplift in impact occurs when moving from non-exposure to incidental attention. Under incidental attention, emotive advertising was more effective than rational advertising, as was matching rather than mismatching an emotional appeal to a hedonic brand. Conversely, under divided attention, rational advertising and mismatching a rational appeal to a hedonic brand were more effective.

This research explores the effectiveness of Twitter ads with an emotional or a rational appeal and the (mis)matching between appeal and utilitarian or hedonic brand type. Future research can examine other formats and creative elements of digital advertising that can affect the low-attention processing and the effects that occur.

Intrusive, attention-getting advertising strategies may not be necessary. Certain common creative devices can increase advertising effectiveness despite low attention, so marketers can ensure consumer-centric marketing communication.

There has previously been limited understanding of low-attention mechanisms in advertising and little evidence of ad effectiveness under conditions of low attention. The research also demonstrates that certain ad characteristics, linked to common creative devices, enhance the impact of advertising despite low attention.

Considers the transfer of management knowledge to the People’s Republic of China through Western universities as a complex process involving cultural as well as educational issues. Shows that the traditional case study format prevalent in MBA style executive education must be modified for use with Chinese executives. Describes a management education programme for Chinese executives. Attributes a successful outcome of facilitating factors that included using a modified version of Mintzberg’s model of managerial work and a case‐study method attuned to the participants’ learning and cultural needs. Presents a learning model appropriate for use in any high context culture.