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1 – 10 of over 5000Robert M. Hull, Sungkyu Kwak and Rosemary L. Walker
The purpose of this paper is to examine the impact of insider ownership decreases on stock returns for firms undergoing seasoned equity offerings (SEOs).
Abstract
Purpose
The purpose of this paper is to examine the impact of insider ownership decreases on stock returns for firms undergoing seasoned equity offerings (SEOs).
Design/methodology/approach
Insider data were gathered for firms undergoing SEOs and this information used to compute the insider ownership percentage decreases caused by the SEOs. These insider percentage decreases and standard compounded abnormal return methodology were used to test signaling theory.
Findings
It was discovered that the short‐run and long‐run stock returns accompanying SEOs are not consistent with what signaling theory predicts. In particular, for greater decreases in insider ownership percentages, a superior market response for both short‐run tests and long‐run post‐SEO tests was often found.
Research limitations/implications
Prior research has not examined how the change in insider ownership caused by a corporate event influences stock returns. Future research can build on the univariate tests by examining the impact of insider ownership within a multivariate framework.
Practical implications
Investors cannot profit by following the behavior of insiders by selling shares in companies where insiders lower their ownership percentages. This is because insiders appear to have personal agendas that they follow when decreasing their holdings.
Originality/value
This is the first study to examine how changes in insider ownership caused by a significant corporate event affect stock returns. The findings of this empirical examination challenge signaling theory as regards insider knowledge, the ability of insiders to convey their privileged knowledge (if it exists), and the capacity of outsiders to decipher and act on insider actions.
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Krisanthi Seneviratne, Srinath Perera, Buddhini Ginigaddara, Xiaohua Jin, Liyaning Tang and Robert Osei Kyei
This research investigated the impacts of COVID-19 on construction enterprises and good practices adopted by the enterprises in reducing COVID-19 risks. The Sendai Framework (TSF…
Abstract
Purpose
This research investigated the impacts of COVID-19 on construction enterprises and good practices adopted by the enterprises in reducing COVID-19 risks. The Sendai Framework (TSF) is widely accepted as a strategic roadmap to reduce disaster risks throughout the life cycle of a disaster. As such, with the aim of enhancing the resilience of Australian construction enterprises, the identified good practices were mapped with TSF priorities to consolidate COVID-19 risk reduction practices that can be adopted by Australian construction enterprises.
Design/methodology/approach
Case study research approach was used, and three case studies were conducted with small, medium and large construction enterprises. Small, medium and large enterprises were selected based on the Australian Bureau of Statistics classification of the business size. Data were collected through semi-structured interviews conducted with three executive members from the three enterprises. Data were analysed using content analysis.
Findings
The study found that construction enterprises faced demand and supply side impacts. Infrastructure projects, funded by public sector clients and larger enterprises were least affected. Investments and demand for residential and other building projects were reduced by private sector clients, affecting small and medium enterprises. Findings also show that the construction enterprises adopted good practices in identifying, managing, investing on resilience and recovery that align with TSF priorities. All three enterprises agreed on some common good practices on risk identification, risk management and effective recovery. Different views were shared on investments related to disaster resilience.
Practical implications
This study contributes to mitigate the COVID-19 impacts on construction enterprises and subsequent economic and social impacts.
Originality/value
This research found how Australian construction enterprises survived during COVID-19. The study adopted TSF to construction and COVID-19 context while consolidating COVID-19 risk reduction practices.
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Philip C. Wright and Gary D. Geroy
Outlines how human competency engineering can be used as a change maangement or organizational development tool, based upon studies conducted in Canada, Hong Kong and Indonesia…
Abstract
Outlines how human competency engineering can be used as a change maangement or organizational development tool, based upon studies conducted in Canada, Hong Kong and Indonesia. Suggests that a change model based on the practical application of social science and physical science concepts can be applied over several cultures.
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Analyses the economic system slice‐wise, taking the main economic activities for a year together. Within this slice the development of the economic activities is characterized by…
Abstract
Analyses the economic system slice‐wise, taking the main economic activities for a year together. Within this slice the development of the economic activities is characterized by plus or minus signs according to an increase or decrease of the activities. This yearly sequence of plus and minus signs is taken as a pattern. Analyses these economic patterns according to cybernetic and economic criteria. Sign‐equivalent patterns are taken together as groups. The chronological development of these groups gives the profiles of the economy. The development of profiles is quite concordant with the business cycle of the economy in question.
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Gunter Festel and Martin Würmseher
– The purpose of this paper is to evaluate the operational performance of industrial park infrastructures in Germany to find first indications for cost saving potentials.
Abstract
Purpose
The purpose of this paper is to evaluate the operational performance of industrial park infrastructures in Germany to find first indications for cost saving potentials.
Design/methodology/approach
Between 2006 and 2007, six chemical parks and chemical related industrial parks in Germany participated in a benchmarking study with focus on operation and maintenance of buildings, communication infrastructures and traffic infrastructures. Based on data analysis in combination with workshops, numerous key performance indicators were defined and calculated.
Findings
To compare the different complexities of the analysed infrastructures, the most important key performance indicators were adjusted using correction factors defined and verified during the workshops. This made a discussion based on comparable and comprehensible figures possible which increased the acceptance and applicability of the benchmarking methodology. The benchmarking results showed large differences in performance levels, indicating that there are significant cost saving potentials in some industrial parks.
Research limitations/implications
The comparability may remain limited due to the partly insufficient availability of data from the participants. Other limitations are due to the small number of investigated industrial parks and the focus of the benchmarking study on Germany.
Originality/value
The developed benchmark and best practice methodology is well suited to evaluate best practice in the field of industrial park infrastructures. It is important for industrial parks to understand the individual performance level and to adapt best practice in all areas.
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In light of the difficulties the governments typically face in conserving and managing their rich public cultural heritage, which often lingers in a condition of neglect, this…
Abstract
Purpose
In light of the difficulties the governments typically face in conserving and managing their rich public cultural heritage, which often lingers in a condition of neglect, this study aims to identify a set of additional tools capable of providing adequate financial resources as well as skills.
Design/methodology/approach
The general research methodology adopted is of a qualitative, rather than a quantitative, nature. In fact, the resulting considerations are mainly the consequence of a first broad theoretical examination, aimed at analyzing the different management models a public entity may adopt, and an applicable verification, aimed at describing some case histories selected by means of interviews.
Findings
The study develops a preliminary reflection on possible sector-specific models for public-built cultural heritage management that have not been well defined yet, especially so in reference to one of the institutional options, namely, the adoption of public–private–people agreements. Indeed, in addition to establishing the ties needed to link public institutions with the business sector, some strong involvement of society as a whole is advised to foster the implementation of projects and expedite the solution of shared problems. At a local level, for instance, private stakeholder participation must be encouraged, with special attention to the latter's cultural closeness to the territory involved.
Originality/value
This research identifies some tools suitable for adoption in the cultural heritage field, which would serve as perfect examples of community involvement and commitment, and some useful case studies resulting from the Italian context.
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Alice Larissa Bennett and Mark Moss
The purpose of this paper is to explore client‐reported functions of deliberate self‐injury for prisoners located within a dangerous and severe personality disorder site.
Abstract
Purpose
The purpose of this paper is to explore client‐reported functions of deliberate self‐injury for prisoners located within a dangerous and severe personality disorder site.
Design/methodology/approach
As interviews produced in‐depth data indicating a very idiosyncratic experience of the function of deliberate self‐injury, interpretative phenomenological analysis was used within a small‐scale case study design.
Findings
Identified functions mirrored current quantitative research but few emerging themes were identified across the sample. Participants presented with varying levels of insight into their deliberate self‐injury.
Research limitations/implications
A small sample of young males was used within the study.
Originality/value
A “status‐seeking” function of deliberate self‐injury was also observed, which is not explicitly discussed within the current literature base. This study's findings can be of use to treatment providers for this population given their complex responsivity needs.
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Amel Ibrahim, Sameh Awad and Mahmoud El-Sayed
The effect of pomegranate whole and inside peels before and after extraction of the tannic acid have been carried out in stimulated media and in gastrointestinal conditions
Abstract
Purpose
The effect of pomegranate whole and inside peels before and after extraction of the tannic acid have been carried out in stimulated media and in gastrointestinal conditions
Design/methodology/approach
Adding pomegranate peels with and without tannins at different levels to bio-stirred yoghurt to study its effect as prebiotic, in addition to evaluating the effect on physiochemical, sensorial and rheological properties
Findings
The results reveal that pomegranate peels before and after removing tannins had no effect on the viability of a single strain of Lb. acidophilus in stimulated media, while the growth of mixed probiotic culture (Lb.acidophilus and Bifidobacterium bifidum) was enhanced when pomegranate peels (whole and inside part) free from tannins were used. Tannin-free pomegranate peels enhanced the viability of probiotic culture under gastrointestinal conditions. In this study, all probiotic cultures were maintained counts around log 8 cfu /g in stirred bio-yoghurt supplements with pomegranate peels after 21days. Bio-yoghurt supplemented with pomegranate peels at 0.5% gained high scores for overall acceptability.
Originality/value
Pomegranate has been recognized as a good source of antioxidant and antimicrobial activities. Some researchers have utilized pomegranate peel in fermented milk, but most of the studies have found that tannins inhibit the bacterial culture. This study recommended that the supplementation of low-fat bio-yoghurt with tannin-free pomegranate peels enhanced the texture properties, viscosity of the product, as well as the viability of probiotic culture during shelf life. Therefore, the tannin-free pomegranate peel could be used as a prebiotic in functional fermented dairy products.
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Presents the scientific methodology from the enlarged cybernetical perspective that recognizes the anisotropy of time, the probabilistic character of natural laws, and the entry…
Abstract
Presents the scientific methodology from the enlarged cybernetical perspective that recognizes the anisotropy of time, the probabilistic character of natural laws, and the entry that the incomplete determinism in Nature opens to the occurrence of innovation, growth, organization, teleology communication, control, contest and freedom. The new tier to the methodological edifice that cybernetics provides stands on the earlier tiers, which go back to the Ionians (c. 500 BC). However, the new insights reveal flaws in the earlier tiers, and their removal strengthens the entire edifice. The new concepts of teleological activity and contest allow the clear demarcation of the military sciences as those whose subject matter is teleological activity involving contest. The paramount question “what ought to be done”, outside the empirical realm, is embraced by the scientific methodology. It also embraces the cognitive sciences that ask how the human mind is able to discover, and how the sequence of discoveries might converge to a true description of reality.
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This paper provides a further investigation into the application of Correspondence Analysis (CA) as outlined by Greenacre (1984, 1993), which is one technique for “quantifying…
Abstract
This paper provides a further investigation into the application of Correspondence Analysis (CA) as outlined by Greenacre (1984, 1993), which is one technique for “quantifying qualitative data” in research on learning and teaching. It also builds on the utilisation of CA in the development of the emerging discipline of English as an International Language provided by Hassall and Ganesh (1996, 1999). This is accomplished by considering its application to the analysis of attitudinal data that positions the developing pedagogy of Teaching English as an International Language (TEIL) (see Hassall, 1996a & ff.) within the more established discipline of World Englishes (cf. Kachru, 1985, 1990). The multidimensional statistical technique Correspondence Analysis is used to provide an assessment of the interdependence of the rows and columns of a data matrix (primarily, a two-way contingency table). In this case, attitudinal data, produced at a number of international workshops which focused on the development of a justifiable pedagogy for Teaching English as an International Language (TEIL), are examined to provide a more complete picture of how these venues differed from each other with respect to the collective responses of the respondents. CA facilitates dimensionality reduction and provides graphical displays in low-dimensional spaces. In other words, it converts the rows and columns of a data matrix or contingency table into a series of points on a graph. The current study presents analyses of two different interpretations of this data.