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Case study
Publication date: 20 January 2017

Artur Raviv, Rod N. Feuer, Parth Mehrotra and Peter Rossmann

On April 22, 2005, Maytag Corporation's stock price fell 28 percent after the company reported disappointing first-quarter results and significantly reduced its earnings…

Abstract

On April 22, 2005, Maytag Corporation's stock price fell 28 percent after the company reported disappointing first-quarter results and significantly reduced its earnings outlook for 2005. The company's sales were declining due to increased foreign competition and its production costs were increasing due to higher energy, materials, and distribution costs. Maytag's management and board clearly understood the need to make strategic decisions to turn around the fate of their company. Maytag could propose a drastic turnaround plan and remain independent, sell itself to either a large domestic competitor such as Whirlpool or a foreign firm such as Haier, or it could choose to go private by selling to a financial buyer (Ripplewood).

This case is designed to introduce and to practice concepts relating to the valuation of an acquisition target from the perspectives of a strategic investor and a private equity (leveraged buyout) firm. More specifically, the exercise is intended to address: (1) corporate strategy relating to takeover contests, (2) sources of value creation in acquisitions, and (3) valuation methodologies used to determine target company values.

Details

Kellogg School of Management Cases, vol. no.
Type: Case Study
ISSN: 2474-6568
Published by: Kellogg School of Management

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Case study
Publication date: 20 January 2017

David P. Stowell and Peter Rossmann

Freeport-McMoRan's acquisition of Phelps Dodge created the world's largest publicly traded copper company. JPMorgan and Merrill Lynch advised the acquirer and arranged…

Abstract

Freeport-McMoRan's acquisition of Phelps Dodge created the world's largest publicly traded copper company. JPMorgan and Merrill Lynch advised the acquirer and arranged $17.5 billion in debt financing and $1.5 billion in credit facilities. In addition, these two firms underwrote $5 billion in equity capital through simultaneous offerings of Freeport-McMoRan common shares and mandatory convertible preferred shares. These financings created an optimal capital structure for the company that resulted in stronger credit ratings. The activities of the equity capital markets and sales groups at the underwriting firms are explored and the structure and benefits of mandatory convertible preferred shares is explained.

To understand the role of investment banks in advising a large corporation regarding an acquisition and related financings in the capital markets. As part of this, the activities of an investment banking firm's equity capital markets group and their underwriting risks are analyzed. Finally, the structure of a mandatory convertible security is reviewed in terms of benefits to both issuers and investors.

Details

Kellogg School of Management Cases, vol. no.
Type: Case Study
ISSN: 2474-6568
Published by: Kellogg School of Management

Keywords

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Article
Publication date: 2 February 2018

Praveen Sugathan, Alexander Rossmann and Kumar Rakesh Ranjan

This study aims to conceptualize and test the effect of consumers’ perceptions of complaint handling quality (PCHQ) in both traditional and social media channels.

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Abstract

Purpose

This study aims to conceptualize and test the effect of consumers’ perceptions of complaint handling quality (PCHQ) in both traditional and social media channels.

Design/methodology/approach

Study 1 systematically reviews the relevant literature and then carries out a consumer and manager survey. This approach aims to conceptualize the dimensionality of PCHQ. Study 2 tests the effect of PCHQ on key marketing outcomes. Using survey data from a German telecommunications company, the study provides an explanation for the differences in outcomes across traditional (hotline) and social media channels.

Findings

Study 1 reveals that PCHQ is best conceptualized as a five-dimensional construct with 15 facets. There are significant differences between customers and managers in terms of the importance attached to the various dimensions. The construct shows strong psychometric properties with high reliability and validity, thereby opening up opportunities to treat these facets as measurement indicators for the construct. Study 2 indicates that the effect of PCHQ on consumer loyalty and word-of-mouth (WOM) communication is stronger in social media than in traditional channels. Procedural justice and the overall quality of service solutions emerge as general dimensions of PCHQ because they are equally important in both channels. In contrast, interactional justice, distributive justice and customer effort have varying effects across the two channels.

Research limitations/implications

This study contributes to the understanding of a firm’s channel selection for complaint handling in two ways. First, it evaluates and conceptualizes the PCHQ construct. Second, it compares the effects of different dimensions of PCHQ on key marketing outcomes across traditional and social media channels.

Practical implications

This study enables managers to understand the difference in efficacy attached to different dimensions of PCHQ. It further highlights such differences across traditional and social media service channels. For example, the effect of complaint handling on social media is of particular importance when generating WOM communication.

Originality/value

This study offers a comprehensive conceptualization of the PCHQ construct and reveals the general and channel contingent effects of its different dimensions on key marketing outcomes.

Details

European Journal of Marketing, vol. 52 no. 5/6
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 1 April 2003

Alastair G. Smith

This study evaluates the retrieval of New Zealand information using three local New Zealand search engines, four major global search engines and three metasearch engines…

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1834

Abstract

This study evaluates the retrieval of New Zealand information using three local New Zealand search engines, four major global search engines and three metasearch engines. Searches for NZ topics were carried out on all the search engines, and the relative recall calculated. The local search engines did not achieve higher recall than the global search engines or metasearch engines, but no search engine achieved more than 45 percent recall. Despite the theoretical advantage of searching the databases of several individual search engines, metasearch engines did not achieve higher recall. Of relevant pages for the queries, 36 percent were outside the .nz domain. Implications for searching for geographically specific information, and for evaluation of search engines, are discussed.

Details

Online Information Review, vol. 27 no. 2
Type: Research Article
ISSN: 1468-4527

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Article
Publication date: 8 August 2016

Alexander Rossmann, Kumar Rakesh Ranjan and Praveen Sugathan

This paper aims to complement the current understanding about user engagement in electronic word-of-mouth (eWoM) communications across online services and product…

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4904

Abstract

Purpose

This paper aims to complement the current understanding about user engagement in electronic word-of-mouth (eWoM) communications across online services and product communities. It examines the effect of the senders’ prior experience with products and services, and their extent of acquaintance with other community members, on user engagement with the eWoM.

Design/methodology/approach

The study used a sample of 576 unique user postings from the corporate fan page of two German firms: a service community of a telecom provider and a product community of a car manufacturer. Multiple regression analysis is used to test the conceptual model.

Findings

Senders’ prior experience and acquaintance positively affect user engagement with eWoM, and these effects differ across communities for products and services and across their influence on “likes” and “comments”. The results also suggest that communities for products are orientated toward information sharing, while those discussing services engage in information building.

Research limitations/implications

This research explains mechanisms of user engagement with eWoM and opens directions for future research around motives, content and social media tools within the structures of online communities. The insights on information-handling dimensions of online tools and antecedents to their use contribute to the research on two prioritized topics by the Marketing Science Institute – “Measuring and Communicating the Value of Online Marketing Activities and Investments” and “Leveraging Digital/Social/Mobile Technology”.

Practical implications

This research offers insights for firms to leverage user engagement and facilitate eWoM generation through members who have a higher number of acquaintances or who have more experience with the product or service. Executives should concentrate their community engagement strategies on the identification and utilization of power users. The conceptualization and empirical test about the role of likes and comments will help social media managers to create and better capture value from their social media metrics.

Originality/value

The insights about the underlying factors that influence engagement with eWoM advance our understanding about the usage of online content.

Details

Journal of Services Marketing, vol. 30 no. 5
Type: Research Article
ISSN: 0887-6045

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Book part
Publication date: 18 April 2016

Carmela Barbera, Elio Borgonovi and Ileana Steccolini

The purpose of this contribution is to investigate whether popular reports can strengthen public governance by fostering greater transparency and public participation.

Abstract

Purpose

The purpose of this contribution is to investigate whether popular reports can strengthen public governance by fostering greater transparency and public participation.

Methodology/approach

The analysis is based on the case of the “Bilancio in Arancio” of the Municipality of Milan. Data are collected through a triangulation of sources, including the authors’ direct observation, conversational interviews, the press, and a questionnaire distributed to the citizens participating in the experience.

Findings

The analysis discusses how popular reports can improve Public Governance, and identify related critical issues. More specifically, four key aspects of Popular reporting appear to play a central role in strengthening governance, that is, their capacity to ensure greater transparency, neutrality, enhanced participation and impacts on decision making. We suggest that every aspect represents an important “step” to be taken in an ideal “ladder of participation.”

Practical implications

Governments that want to enhance public governance may have an interest in developing popular reports, paying attention at ensuring transparency, neutrality, stakeholders’ participation, and their contribution to decision-making processes.

Social implications

Popular reports can provide to citizens the education on public budgeting issues required to consciously participate in public decision-making processes and give them greater voice and power to express their instances. Popular reports can also promote a two-way communication and dialogue between citizens and governments.

Originality/value

Drawing on the experience of the Municipality of Milan, more general lessons are learnt on the role of popular reports in strengthening public governance, and on the related strengths and weaknesses.

Details

Governance and Performance in Public and Non-Profit Organizations
Type: Book
ISBN: 978-1-78635-107-4

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Article
Publication date: 9 May 2016

Sara Mannheimer, Scott W.H. Young and Doralyn Rossmann

In this paper, faculty librarians at an academic institution explore the ethical dimensions of conducting research with user-generated social networking service (SNS…

Abstract

Purpose

In this paper, faculty librarians at an academic institution explore the ethical dimensions of conducting research with user-generated social networking service (SNS) data. In an effort to guide librarian-researchers, this paper first offers a background discussion of privacy ethics across disciplines and then proposes a library-specific ethical framework for conducting SNS research.

Design/methodology/approach

By surveying the literature in other disciplines, three key considerations are identified that can inform ethical practice in the field of library science: context, expectation, and value analysis. For each of these considerations, the framework is tailored to consider ethical issues, as they relate to libraries and our practice as librarian-researchers.

Findings

The unique role of the librarian-researcher demands an ethical framework specific to that practice. The findings of this paper propose such a framework.

Practical implications

Librarian-researchers are at a unique point in our history. In exploring SNSs as a source of data to conduct research and improve services, we become challenged by conflicting and equally cherished values of patron privacy and information access. By evaluating research according to context, expectations, and value, this framework provides an ethical path forward for research using SNS data.

Originality/value

As of this paper’s publication, there is no existing ethical framework for conducting SNS research in libraries. The proposed framework is informed both by library values and by broader research values, and therefore provides unique guidelines for the librarian-researcher.

Details

Journal of Information, Communication and Ethics in Society, vol. 14 no. 2
Type: Research Article
ISSN: 1477-996X

Keywords

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Book part
Publication date: 31 July 2018

Francesca Comunello and Simone Mulargia

Abstract

Details

Social Media in Earthquake-Related Communication
Type: Book
ISBN: 978-1-78714-792-8

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Article
Publication date: 1 February 1988

T. Kwikkers, J. Lantaires, R.B. Turnbull, H.T. Law, Barry George and Dave Savage

On 20 April ISHM‐Benelux held its 1988 Spring meeting at the Grand Hotel Heerlen. This meeting was totally devoted to implantable devices, in particular to the…

Abstract

On 20 April ISHM‐Benelux held its 1988 Spring meeting at the Grand Hotel Heerlen. This meeting was totally devoted to implantable devices, in particular to the technologies used for these high reliability, extremely demanding devices. For this meeting ISHM‐Benelux was the guest of the Kerkrade facility of Medtronic. Medtronic (headquartered in Minneapolis, USA) is the world's leading manufacturer of implantable electronic devices. Apart from the assembly of pacemakers and heart‐wires, the Kerkrade facility acts as a manufacturing technology centre for Medtronic's European facilities.

Details

Microelectronics International, vol. 5 no. 2
Type: Research Article
ISSN: 1356-5362

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Book part
Publication date: 18 January 2021

Janka Goldan, Lisa Hoffmann and Susanne Schwab

According to the literature, a lack of resources is seen as a major barrier of implementing inclusive education. Previous studies, which have mostly been limited to the…

Abstract

According to the literature, a lack of resources is seen as a major barrier of implementing inclusive education. Previous studies, which have mostly been limited to the perspective of teachers, show that the perception of resources has a considerable influence on teachers' self-efficacy and in particular on their attitude towards inclusive education. The 'Perception of Resources Questionnaire' (PRQ) by Goldan and Schwab (2018) is the first instrument to assess the perspective of students. The PRQ was applied in the present study comprising N = 701 students from lower-secondary level in Germany. It is aimed to explore whether the perception of resources has an effect on relevant dimensions on the side of the students. Results of multilevel regression analyses show that students' perception of resources is a significant predictor of their well-being in school, academic self-concept and social inclusion. Finally, the results are discussed with regard to practical implications.

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