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1 – 5 of 5This paper focuses on the influence of overconfident managers on strategic investment acquisitions performance, by investigating the influence of key contextual factors on…
Abstract
Purpose
This paper focuses on the influence of overconfident managers on strategic investment acquisitions performance, by investigating the influence of key contextual factors on acquirers’ returns of UK domestic and cross-border acquisitions during the period 2000-2009. In this study, particular attention has been paid to management attributes (frequent acquirers vs non-frequent acquirers); method of payment (cash vs non-cash deals); the geographic scope (domestic vs cross-border deals); the type of the target (public vs private); the industry scope; and the relative size.
Design/methodology/approach
An event study is used to analyse domestic and cross-border acquisitions. The market model is used for estimating the acquirers’ abnormal returns of 1,133 domestic and cross-border acquisitions by UK firms between 1 January 2000 and 31 December 2009.
Findings
The findings reveal that acquirers with domestic targets have higher returns than cross-border targets. Infrequent acquirers generate higher returns from domestic and cross-border acquisitions than frequent acquirers. Further, acquirers that acquire domestic targets from different industrial sectors produce higher returns than acquirers with targets from the same sector. Acquirers with cash deals, private targets and high book-to-market ratio generate significant returns compared to acquirers with non-cash deals, low book-to-market ratio and public targets and that for domestic and cross-border deals. These results suggest that UK domestic and cross-border acquisitions are partially shaped by overconfident managers.
Research limitations/implications
The study has a number of limitations, including the use of the market model, the data-collection process and the limited number of contextual factors. Future research may examine a number of avenues related to the current study, including incorporating the acquiring firms’ financial characteristics.
Practical implications
The study provides a better understanding of the influence of contextual factors on the success and failure of strategic investment projects such as acquisitions. Results of post-acquisitions performance in UK firms show how estimation of value can be distracted at the pre-acquisition stage because of overconfident managers.
Originality/value
Results of post-acquisitions performance in UK firms show how estimation of value can be distracted at the pre-acquisition stage because of overconfident managers.
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Manhal Gobara Hamid and Abdel Azim Ahmed Mohamed Nour
The purpose of this paper is to evaluate the effect of different drying methods on quality attributes of beetroot slices.
Abstract
Purpose
The purpose of this paper is to evaluate the effect of different drying methods on quality attributes of beetroot slices.
Design/methodology/approach
Three drying methods (sun, oven and freeze-drying) were applied to dry fresh slices of beetroot cultivar (Beta vulgaris). The chemical composition, minerals, nitrate, betalains, total phenolic, total flavonoid and color were measured for fresh and dried slices.
Findings
The chemical composition, minerals, nitrate, bioactive compounds and color were measured for fresh and dried slices. Regardless of the drying method, the results showed that the chemical composition, total energy, minerals and nitrate of the dried slices were significantly (p=0.05) increased compared to that of fresh slices. Sun and oven drying of the slices significantly (p=0.05) reduced total betalain and betacynin. However, betaxanthin was significantly (p=0.05) increased. Total phenolics content of fresh beetroot was significantly (p=0.05) increased after sun and oven drying but total flavonoids were decreased. The 2,2,-diphenyl-2-picryl-hydrazyl (DPPH) of fresh beetroot was increased significantly (p=0.05) after sun and oven drying. The measurement of the color of the powder showed that there is a decrease in lightness (L) depending on the drying method applied. A maximum reduction in lightness was observed in powder of sun-dried slices. The color of the powder obtained from freeze-dried slices was stable compared to other drying methods.
Practical implications
Beetroot is a rich source of nutrients but with short shelf life. Dried beetroot has more keeping quality than the fresh one.
Originality/value
The study uses beetroot as a rich source of nutrients as well as natural antioxidant source. Betalain compounds are preserved in beetroot and a high source of phenolics and flavonoids. Flavonoids are a group of phenolic products of plant metabolism with high antioxidant properties to protect against diseases without side effects.
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Ahmad Yuosef Alodat, Zalailah Salleh and Hafiza Aishah Hashim
This paper aims to examine the impact of corporate governance (CG) on sustainability disclosure (SD) from the perspectives of resource dependence, agency and stakeholder theories…
Abstract
Purpose
This paper aims to examine the impact of corporate governance (CG) on sustainability disclosure (SD) from the perspectives of resource dependence, agency and stakeholder theories in the context of Jordan.
Design/methodology/approach
The analyses were based on 405 observations from non-financial firms listed on the Amman Stock Exchange, spanning the period of 2014–2018. The CG that influences SD was examined using panel data regression models.
Findings
The results of the current study show a positive and significant relationship between the extent of SG and the audit committee and board of directors’ effectiveness. In terms of ownership structure, both institutional and foreign ownerships yielded an insignificant relationship with the extent of SDs.
Practical implications
The analyses have implications for practitioners, policymakers, top management and corporate executives. Firms are encouraged to restructure their board of directors to enhance the effectiveness of the board to better monitor and support better SD.
Originality/value
To the best of the authors’ knowledge, this is the first study to examine the determinants of SD in Jordan firms. This paper adopted a newly developed global reporting initiative-based reporting index that identifies companies with good sustainability practices. This adds value to the existing sustainability literature.
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From scholars' view, there are various research approaches to investigate the city and its spaces. However, there is a need to examine the city and its spaces from the residents'…
Abstract
Purpose
From scholars' view, there are various research approaches to investigate the city and its spaces. However, there is a need to examine the city and its spaces from the residents' perspective. Hermeneutic phenomenology might be applicable and valuable. Also, communication is a requirement for successful participatory planning and spatial analysis. Architects, urban designers and landscape architects must possess intersubjective competencies to communicate and engage with the public. Hermeneutic knowledge is the source for developing these intersubjective capabilities essential for communication. All design preparation and execution steps require distorted-free communication, starting with defining a problem and ending with implementation, monitoring and evaluation.
Design/methodology/approach
The paper aims to test the applicability of hermeneutic phenomenology in urban studies. The author examines the right to the city and producing space in Cairo, Egypt. Besides web pages, documents and social networks, data sources vary, including proverbs and poems. Semiotics is the qualitative research technique used to interrogate the collected material using qualitative data analysis software.
Findings
Cairo's growth is the outcome of the division of labor, administration and power dynamics. Egyptians' right to take part in Cairo's planning and management is the issue. Hermeneutic phenomenology is an approach to perform spatial environmental investigations. It could inform decision-making, ensure the planning process's validity and guarantee people's ownership of planned projects.
Originality/value
Phenomenology allows for inside and outside the understanding of a spatial phenomenon. The current focus of architectural and planning schools' curricula is on technical actions. These schools consider increasing the dose of social sciences in their curricula. Educators could teach students how to use hermeneutic phenomenological research methodologies. Using hermeneutic knowledge in communication encourages public engagement in formulating and implementing projects, thus ensuring their long-term viability.
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