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Article

Alberto Fuertes and Jose María Serena

This paper aims to investigate how firms from emerging economies choose among different international bond markets: global, US144A and Eurobond markets. The authors…

Abstract

Purpose

This paper aims to investigate how firms from emerging economies choose among different international bond markets: global, US144A and Eurobond markets. The authors explore if the ranking in regulatory stringency –global bonds have the most stringent regulations and Eurobonds have the most lenient regulations – leads to a segmentation of borrowers.

Design/methodology/approach

The authors use a novel data set from emerging economy firms, treating them as consolidated entities. The authors also obtain descriptive evidence and perform univariate non-parametric analyses, conditional and multinomial logit analyses to study firms’ marginal debt choice decisions.

Findings

The authors show that firms with poorer credit quality, less ability to absorb flotation costs and more informational asymmetries issue debt in US144A and Eurobond markets. On the contrary, firms issuing global bonds – subject to full Securities and Exchange Commission requirements – are financially sounder and larger. This exercise also shows that following the global crisis, firms from emerging economies are more likely to tap less regulated debt markets.

Originality/value

This is, to the authors’ knowledge, the first study that examines if the ranking in stringency of regulation – global bonds have the most stringent regulations and Eurobonds have the most lenient regulations – is consistent with an ordinal choice by firms. The authors also explore if this ranking is monotonic in all determinants or there are firm-specific features which make firms unlikely to borrow in a given market. Finally, the authors analyze if there are any changes in the debt-choice behavior of firms after the global financial crisis.

Details

Journal of Financial Regulation and Compliance, vol. 26 no. 1
Type: Research Article
ISSN: 1358-1988

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Article

Steven H. Appelbaum, Maria Serena and Barbara T. Shapiro

A case study was conducted to identify and to dispel the current stereotypes in the workplace regarding Generation X and Baby Boomers. For the purpose of the study…

Abstract

A case study was conducted to identify and to dispel the current stereotypes in the workplace regarding Generation X and Baby Boomers. For the purpose of the study Generation X consisted of those born between 1961 and 1981, while Baby Boomers consisted of those born between 1943 and 1960. The purpose of this article was to use a custom designed survey based on the literature as the foundation to test congruence or lack of it, to address six commonly held myths presented by Paul and Townsend (1993). Furthermore it was intended to test empirical research gathered by a literature review of the stereotypes in the workplace, to better understand the profiles and factors that motivate the Baby Boomers and Generation X, in conjunction with the following independent variables: age, productivity, motivation, training, mentoring and job satisfaction. The hypothesis tested suggested that Generation Xers are more productive, more motivated, and easily trainable and exhibit higher job satisfaction levels as compared to Baby Boomers. It is important for or ganizations to recognize the limitations that stereotypes create in the workplace. As was demonstrated by the survey, Baby Boomers and Generation Xers are not dissimilar as employees; they possess more similarities than differences. Organizations need to foster an environment of respect/equity for both groups to create synergies between them to build and maintain a productive workforce.

Details

Management Research News, vol. 28 no. 1
Type: Research Article
ISSN: 0140-9174

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Article

Karla McCormick

The purpose of this paper is to determine if the star power of an athletic endorser influenced consumers’ consumption of the advertised product. Specifically, does the…

Abstract

Purpose

The purpose of this paper is to determine if the star power of an athletic endorser influenced consumers’ consumption of the advertised product. Specifically, does the amount of star power an athlete is thought to have impact consumers’ direct consumption of the advertised product and media consumption of the athlete? Moreover, the components of star power, along with congruency measures, were examined to determine which components of star power influenced both direct and media consumption.

Design/methodology/approach

Four advertisements were created that used an athlete with high star power and an athlete with low star power. Respondents viewed two of the advertisements, but did not know which athlete had high star power or low star power. They were asked to answer a questionnaire that contained questions pertaining to the components of star power (source attractiveness, source credibility, professional trustworthiness, likeable personality and character style), congruency of the athlete and product, direct consumption of the advertised product and media consumption of the athlete.

Findings

Results indicated that overall star power increased the direct consumption of the advertised product and the media consumption of the athlete, however not each component was found to be significant. Character style was the only component that was consistently significant across all four advertisements. The congruency between the athlete and product was also found to be significant across all four advertisements.

Research limitations/implications

First, this study only looked at two athletes; others may generate different results. Second, the products used in the study were fashion related; other categories of products may also generate different relationships. Third, only two brands were used. It was also assumed that the respondents knew the athlete in the advertisement. Finally, the questions used to measure direct consumption did not distinguish between buying the brand in the store or online.

Originality/value

This study has the potential to contribute theoretically by analyzing how and which components of star power affect consumption of endorsed products, as well as which components influence consumers. Moreover, adding a congruency measure will aide in strengthening the measurement of endorser effectiveness. The justification of the present study lies in the need to determine how the dimensions of star power an athlete possesses contribute to the consumption behaviors of consumers.

Details

International Journal of Sports Marketing and Sponsorship, vol. 19 no. 3
Type: Research Article
ISSN: 1464-6668

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Article

Steven H. Appelbaum, Maria Serena and Barbara T. Shapiro

An extensive literature search was conducted to better understand and to dispel the current stereotypes in the workplace regarding Generation X and Baby Boomers. For the…

Abstract

An extensive literature search was conducted to better understand and to dispel the current stereotypes in the workplace regarding Generation X and Baby Boomers. For the purpose of the article Generation X consisted of those born between 1961 and 1981, while Baby Boomers consisted of those born between 1943 and 1960. The purpose of this article was to use an exhaustive review of eclectic/multidisciplinary literature to address six commonly held myths presented by Paul and Townsend (1993). Furthermore, it was intended to examine empirical research gathered by a literature review of the stereotypes in the workplace, to better understand the profiles and factors that motivate the Baby Boomers and Generation X, in conjunction with the following independent variables: age, productivity, motivation, training, and mentoring and job satisfaction. Selected hypotheses were tested suggesting Generation Xers are more productive, more motivated, easily trainable and exhibit higher job satisfaction levels as compared to Baby Boomers. Results were convergent and divergent in several cases worth noting. It is important for organizations to recognize the limitations that stereotypes create in the workplace. As was demonstrated by the varied research, Baby Boomers and Generation Xers are not dissimilar as employees; they possess more similarities than differences. Organizations need to engineer/design an environment of respect for both groups to create synergies between them to build and maintain a productive workforce.

Details

Management Research News, vol. 27 no. 11/12
Type: Research Article
ISSN: 0140-9174

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Book part

Andrea Nespeca and Maria Serena Chiucchi

In order to shed light on the implications of the business intelligence (BI) for management accounting (MA) and decision making, this study investigates as to how the use…

Abstract

In order to shed light on the implications of the business intelligence (BI) for management accounting (MA) and decision making, this study investigates as to how the use of the BI affects the production, transmission, and reception of performance measures (PM).

To investigate the issue at hand, a case study of an Italian company is carried out. The case study method is deemed suitable to explore the complex, penetrating, and unpredictable relationship between BI and PM.

The case analysis shows that the use of the BI can affect the production of PM by leading the organization to frame PM into an indicator setting. Moreover, the BI can affect the transmission by introducing a new, “visual” approach for presenting PM to decision makers, which is also relevant in the reception as a mobilizing factor.

This study contributes to improving the understanding of BI implications for MA and decision making, which is still limited in the accounting academia. Additionally, this research adds to extant knowledge about the relationship between measurement and management; more specifically, it contributes to understanding the “fate” of PM.

Furthermore, the findings illustrated in this chapter can be relevant from a practical point of view: by showing the role that BI solutions can play in producing and transmitting PM, the study shows the potential contribution of the use of the BI in managing and overcoming problems arising in these phases, favoring the use of these measures.

Details

Performance Measurement and Management Control: The Relevance of Performance Measurement and Management Control Research
Type: Book
ISBN: 978-1-78756-469-5

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Abstract

Details

Performance Measurement and Management Control: The Relevance of Performance Measurement and Management Control Research
Type: Book
ISBN: 978-1-78756-469-5

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Article

Marco Giuliani, Maria Serena Chiucchi and Stefano Marasca

This paper has the ambition to enrich the extant research about the interplay between measuring intellectual capital (IC) and managing IC or, more precisely, about the…

Abstract

Purpose

This paper has the ambition to enrich the extant research about the interplay between measuring intellectual capital (IC) and managing IC or, more precisely, about the production and consumption of IC measurements in practice. Stemming from these considerations, the purpose of this paper is to disentangle the production and consumption processes of IC measurements in practice.

Design/methodology/approach

This study is based on a longitudinal case study is analysed adopting an interventionist approach.

Findings

This study shows the peculiarities regarding the production and consumption of IC measurements, from several perspectives. In particular, it emerges that the reporting of IC can, in some specific contexts, lead to the non-use of IC measurements and to the disappearance of the measured object, IC. What is questionable is whether it is the loss of interest in the IC object that has led to the non-use of the IC measurements or if it is the non-consumption of the measurements and their qualities that has implied the disappearance of the measurement object. In addition, this study sheds a light on the fact that in an IC project the consumption of the measurements can occur not only at the end of the production process, but also (and may be especially) during the production process itself. This consumption can generate different effects such as the identification of new managerial objects, the establishment of new initiatives, the development of a deeper knowledge about how IC works or a change of the sense of some of the existing measurements. In all, the paper underlines the fact that how IC measurements are produced (the process followed and the “actors” involved) affects their actual consumption (or non-consumption).

Research limitations/implications

This paper contributes to the extant literature regarding the production and consumption of IC measurements. Moreover, it contributes to the field of IC “in practice” as it highlights what happens when an IC measurement system is implemented. Finally, the research work can contribute both to the studies regarding IC as an accounting change and to the ones regarding IC as a tool that facilitates organizational change. From the first perspective, the paper highlights how the introduction of IC has fostered long-lasting changes in the management accounting system, albeit circumscribed to the local (departmental) level. From the second perspective, the paper shows how IC may allow the creation of new managerial objects, thus promoting possible new actions. The main limitations of this study are related to the methodology adopted and to its specific pros and cons.

Originality/value

In comparison to previous studies, this one does not focus only on the managerial and organizational aspects related to the design and implementation of IC measurements or on their actual use, but attempts to approach them simultaneously adopting a longitudinal view. Moreover, this study does not adopt a theoretical perspective on how the indicators are designed and consumed but is aimed at investigating how these indicators are produced and consumed “in practice”. Finally, this study focus on the interplay between production and consumption of indicators, i.e. on the use of IC measurements in relation to the peculiarities of their production process.

Details

Journal of Intellectual Capital, vol. 17 no. 3
Type: Research Article
ISSN: 1469-1930

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Article

Maria Serena Chiucchi

Despite the plethora of frameworks proposed, there is little evidence of organizations measuring and reporting their IC. This paper aims to shed light on the factors that…

Abstract

Purpose

Despite the plethora of frameworks proposed, there is little evidence of organizations measuring and reporting their IC. This paper aims to shed light on the factors that can hinder or promote the utilization of IC accounting for managerial purposes, thus contributing to understanding why IC frameworks are not so widespread in practice.

Design/methodology/approach

To investigate the issue at hand, a multiple case study of three Italian companies, which have been measuring their IC for several years, will be used, adopting a critical perspective. The actual research project was conducted using an interventionist approach.

Findings

The paper shows how IC model utilization and IC mobilization are influenced by several factors such as: the project's connection to a specific strategic objective, the system's interactive design, its complexity, the predominant use of non‐financial indicators (which can be ambiguous and provocative), the backward‐ or forward‐looking nature of the resultant measurement tools and the osmosis between company‐wide and local control systems.

Research limitations/implications

Being referred to a multiple case study, results cannot be generalized to other organizations. The adoption of an interventionist approach and the IC model applied may have influenced the results obtained.

Practical implications

The findings can help companies to make the IC accounting implementation processes more effective and create the conditions that can help mobilize IC.

Originality/value

The paper investigates IC in action, thus contributing to narrowing the gap between theory and practice, and offers new insights on some hindering or enabling factors which may influence the diffusion of IC accounting.

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Article

Maria Serena Chiucchi

The aim of this paper is to contribute to understanding how measuring intellectual capital (IC) can favor IC mobilization, examining the role of actors who design and…

Abstract

Purpose

The aim of this paper is to contribute to understanding how measuring intellectual capital (IC) can favor IC mobilization, examining the role of actors who design and implement the system in influencing managers’ IC learning processes and their take up of IC management practices.

Design/methodology/approach

A constructive case study, in which the researcher was directly involved in measuring IC, is presented. Kolb's experiential learning theory model examines if and how the actors mobilized IC and how the researcher and controller influenced their learning process.

Findings

The paper shows that actors must complete an experiential learning cycle to mobilize IC. The controller's role is pivotal in promoting IC mobilization, provided he/she experiences a deep learning process and he/she moves from “IC counting” to “IC accounting.” The paper also highlights how research intervention contributes to IC mobilization by influencing the actors’ learning process.

Research limitations/implications

The paper is limited to one Italian company, so the results cannot be generalized; they were influenced by the researcher's “strong” interventionist approach and by the model adopted.

Practical implications

Companies introducing IC will become aware of barriers and levers to measuring and mobilizing IC, thus enabling them to devise strategies to avoid the former and take advantage of the latter.

Originality/value

The experiential learning theory model offers an alternative way of understanding how IC measurement produces effects and how the controller and researcher can influence the managers’ IC learning journey thus contributing to mobilization of IC.

Details

Journal of Intellectual Capital, vol. 14 no. 1
Type: Research Article
ISSN: 1469-1930

Keywords

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Article

Maria Serena Chiucchi and John Dumay

The intellectual capital (IC) literature argues that introducing the IC concept into a company focusing on measuring can be detrimental and lead to IC “accountingisation”…

Abstract

Purpose

The intellectual capital (IC) literature argues that introducing the IC concept into a company focusing on measuring can be detrimental and lead to IC “accountingisation”. Using Chaminade and Roberts’ (2003, p. 747) concept of IC accounting “lock-in”, the paper asks “is it possible for an organisation initially to implement and “lock-in” IC accounting practices and subsequently “un-lock” IC through a more strategic managerial approach?” The authors also investigate if and how, after IC has been “un-locked”, can a new IC “locking-in” process occur? The paper aims to discuss these issues.

Design/methodology/approach

The authors present an interpretive case study of implementing a system for measuring and reporting IC in an Italian public sector utility company. The analysis uses Actor-Network Theory (ANT) to analyse data and discuss findings which is an appropriate theory for case studies using an interpretive approach.

Findings

The findings are contrary to Chaminade and Roberts (2003, p. 733) because the authors challenge the notion “that a dominant accounting perspective can lead to an excessive focus on measurement issues and little attention to management processes”. The evidence from the case study shows how at times a dominant focus on accounting for IC is necessary, especially to allow newcomers to take stock, and make sense, of IC. The analogy is much like comparing accounting vs managing IC to the concept of the chicken and the egg: what comes first?

Research limitations/implications

Because the study looks at IC over time, it allows the authors to develop different insights into IC “because IC is not an event, but a journey” (Dumay et al., 2015). Thus, the critique of Chaminade and Roberts (2003) and other IC research based on a short time period is that it does not allow researchers to fully follow the IC’s impact on an organisation. Additionally, the authors also highlight the role academic researchers can play in understanding how IC works inside organisations, especially when the authors examine how deeply (or not) a researcher intervenes in implementing solutions (see Dumay, 2010).

Practical implications

The research exemplifies how IC can make a difference for public sector organisations because there is a need for studies such as the authors which exemplify how to introduce the IC concept into public sector organisations and at what point should the IC concept “enter” the organisation (see also Secundo et al., 2015). Doing so re-emphasises that IC is not an ostensive concept. Rather, “IC is part of a configuration of knowledge management and actively mobilised to condition effects” (Mouritsen, 2006) and to make a difference (Tull and Dumay, 2007).

Originality/value

This paper is a must read for academics and practitioners seeking to understand how to introduce the IC concept into an organisation.

Details

Journal of Intellectual Capital, vol. 16 no. 2
Type: Research Article
ISSN: 1469-1930

Keywords

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