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The purpose of this study is to examine whether the influence of block ownership on firm performance depends on the identity of the largest investor.

The authors analyse the data for New Zealand companies for the period from 2002 to 2007 and develop multiple regression models which test the influence of block ownership on firm performance subject to the identity of the investor. A two‐stage least square approach is employed to test the effect of possible reverse causality between block ownership and firm performance on the relationship found in multiple regression models.

The authors find that the concentrated ownership has a positive, albeit decreasing, association with firm performance. This relationship is conditioned on the identity of the largest investor. Those companies whose block investors were financial institutions performed better than their peers. The superior influence of financial investors on corporate performance did not disappear even when the endogeneity of this relationship was accounted for.

The main contribution of this paper is the finding of a differential influence of various identities of block investors on firm performance. It questions the role that some domestic block investors play in the governance of New Zealand companies and the reason why the financial system has allowed corporate entities to be the main shareholders of the majority of firms when they underperform relative to their peers.

The degree and impact of competitiveness in the banking sector is of great importance as this has great impact on the financial system and the wider economy. A question of interest here is, does competition in the commercial banking sector boost or hamper economic growth. The purpose of this paper is to test the hypothesis that competitiveness in commercial banking is linked to economic growth.

The authors use the Boone (2008) indicator to estimate competitiveness of banking markets in ten frontier countries in Africa from 2005 to 2012. This model measures banking competitiveness by assessing the relationship between relative marginal costs and relative market share. Through a panel data model, the authors examine the effect banking sector competitiveness has on economic growth.

The results of Boone (2008) indicator suggest that, to a greater extent, banks in the countries studied have a competitive banking sector. The results of the panel data estimation support the hypothesis that banking sector competition impacts positively on economic growth.

The paper recommends for more policy geared towards enhancing bank competition. This is because competitive banking system will allocate resources more efficiently to improve economic growth.

To the best of the authors’ knowledge, this is the first study to test the link between bank competition and economic growth in a cross-section of Frontier African countries.

In less competitive markets, firms with market power are likely to exercise pricing power by setting output prices above their marginal cost, inducing welfare losses from resource misallocation, managerial inefficiency and market instability. In order to address such market imperfections, it is important for regulatory authorities to identify the sources of pricing power and devise policies to address their adverse effects. In this context, the purpose of this paper is to undertake an empirical analysis to identify the determinants of pricing power in the South African non-life insurance market.

The authors estimate the Lerner competitive index as the proxy for pricing power using annual data on 79 firms from 2007 to 2012. In the second stage, the paper employs panel regression techniques in the ordinary least squares, random effects and generalised method of moment’s estimations to examine the effect of insurer level characteristics on pricing power.

The authors find the market to be characterised by firms with high pricing power. Domestic-owned insurers are found to exercise high pricing power compared with foreign-owned insurers. The authors also identify size, cost efficiency, product line diversification, market concentration, leverage and reinsurance contracts as the significant predictors of pricing power in the market. Finally, through a quantile regression analysis, the authors find the effect of cost efficiency, business line diversification and reinsurance to be heterogeneous across different quantiles of pricing power.

The findings provide regulatory authorities with useful indicators in addressing anti-competitive behaviour in high pricing power to enhance the stability of the insurance market and improve consumer welfare and economic development.

To the best of the authors’ knowledge, this is first paper to examine the determinants of pricing power and competitive behaviour in an insurance market.

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.

This study examines the nature of the relationship between board structures (BSs) and intellectual capital (IC) of banks in Africa.

Using annual data from financial statements of 366 banks from 26 African countries from 2007 to 2015, the study estimates IC using the value-added intellectual coefficient (VAIC) and BSs using board size, board independence and board gender diversity. The system generalized method of moments and panel-corrected standard error estimation strategies are used to estimate panel regressions.

There is a significant negative relationship between board independence and intellectual capital. The results also indicate that the IC of banks does not depend on board size and board gender diversity.

The study's findings provide evidence of the extent to which BSs have been instituted to support investments in intellectual capital as a means of improving the performance of banks in Africa.

This study provides some empirical evidence from Africa's banking sector to justify that banks with better IC have boards that are less independent. This study is one of the few studies that employs many countries' data.

This study aims to examine the effects of board structures (BS) on the financial performance and stability of banks in Africa.

Using annual data of 366 banks from 26 African countries from 2007 to 2015, the study estimates growths in financial performance using net interest margin and risk-adjusted return on assets; bank stability using z-scores; and BS using board size, board independence and board gender diversity. The system generalized method of moments and ordinary least squares panel-corrected standard error estimation strategies are used to estimate panel regressions.

The study concludes that board independence has a negative and significant relationship with financial stability but has diverse relationships with financial performance. Board size and board gender diversity have insignificant relationships with financial performance and stability.

The study has relevant implications for practitioners, policymakers and the academic community. The findings provide evidence of the extent to which BS have been instituted to influence the financial profitability and stability of banks in Africa.

This study offers robust evidence on the role of BS in the performance and stability of banks; using a multidimensional conceptualization of the performance and stability of banks in 26 countries in Africa.

The concept of postponement has been developed over many years. Past empirical research has been conducted almost entirely in Western countries. This paper aims to investigate the current status of postponement applications in Greater China (including Mainland China, Hong Kong, and Taiwan) to ascertain the effects of some determinants (i.e. environmental uncertainty, production techniques, and information system (IS) maturity) on postponement application.

A field survey of big manufacturers of electronic/information technology, clothing, and electric appliances is conducted. A total of 106 usable responses are received from 411 surveys yielding a satisfactory response rate of 25.8 percent.

The result indicates that the number of applications of postponement in Greater China is growing and the incidence of postponement applications is higher than in the Western countries. Environmental uncertainty, production techniques, and ISs maturity have have positive effects on applications of postponement techniques. Some specific postponement strategies for the three industries studied are noted.

From an exploratory perspective, the findings present in this paper may be useful in the sense that they give a broad and general picture of the current situation of the use of postponement in certain industries in Greater China.

WE place this special Conference number in the hands of readers in the hope and belief that it will offer features of distinct interest which will increase the value and enjoyment of Brighton. There can be no doubt that the organizers of Library Association Conferences have endeavoured to surpass one another in recent years; almost always, it may be said, with success. Brighton, like Blackpool if in a rather different way, is a mistress of the art of welcome, and it will be long before another town can surpass her in the art. She is at her best in September when the great, and to some appalling, crowds of her promenades have thinned out a little. This year, then, librarians have an interesting time ahead; although, as we glance over the programme again, we fear that the outdoor and other pleasures we have subtly suggested will occur only fitfully. There will be so much to do in the way of business.

Traditional “hierarchical” and “network-centric management” approaches often associated with the management of well-defined construction projects lack the adaptability to cope with uncertainty, standardised practices and the required conformance to industry standards. The purpose of this paper is to propose an integrative “holonic” methodology for the management of megaprojects in the construction industry, which incorporates both adaptability and conformance to standards, and to illustrate the associated benefits of such a methodology.

A multi-case study comprising three cases delivered in the USA and Australia, namely the Adelaide Desalination Plant (ADP), the Seattle–Tacoma International Airport, and the Olmsted Locks and Dam Replacement project were utilized to demonstrate the key features of the hierarchical, network-centric and holonic approaches to managing megaprojects.

The case studies demonstrate incorporating the holonic approach into the management of complex construction projects results in increased management effectiveness and project success. The proposed “holonic” methodology provides the potential to efficiently manage megaprojects navigating through high degrees of uncertainty.

The adoption of the holonic view by project management (PM) practitioners will help them manage megaprojects that are characterised by greater complexity. Second, the proposed methodology enables the discipline of PM to evolve in alignment with rapidly unfolding global transformation trends.

This paper demonstrates the application of the “holonic” methodology to the domain of the management of construction megaprojects. Such an approach is needed as construction projects become increasingly more complex across the world due to technological, political and social uncertainties, larger scale, changing environmental and safety regulations, and the growing involvement of human factors germane to this research.

The purpose of this paper is to provide a holistic view of the link between the identification of complexity contributing factors, the application of project management approaches and their impacts on the performance of Information Technology (IT)-enabled change projects.

A qualitative approach of an embedded single-case design comprising three IT-enabled change projects delivered in Australia was used to explore the impact of complexity contributing factors and project management approaches on project performance measures. Semi-structured interviews were used as the main data collection method. Thematic analysis was used as the data analysis approach.

The results from the thematic analysis highlight that complexity contributing factors are related to two categories of complexity defined in this paper: technical uncertainties and uncertainty in goals and deliverables, both have an impact on the performance of IT-enabled change projects. It also highlights key project management approaches such as the use of an adaptive management approach and good communication as key to managing complexity. It also identifies a misalignment between stakeholder perception of success and the project management success measure for complex IT-enabled projects.

The research is based on data collected from Australian participants involved in three case studies. Additional data collection and reviews from practitioners in the field of project management could further refine and improve this research.

The research facilitates the identification of specific complexity contributing factors at the early stage of a project to ensure that the appropriate project management approaches and success measures are used.

The paper contributes to rethinking the pathways towards improving project performance in the IT sector by expanding the identification of project complexity to understanding how complexity and the management approaches impact project performance.