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1 – 10 of over 2000Mozhdeh Mokhber and Erfan Sharifzadeh
MAPNA Operation and Maintenance Company was established in 2003 to provide long-term services in the energy sector in Iran. This company delivered comprehensive solutions…
Abstract
MAPNA Operation and Maintenance Company was established in 2003 to provide long-term services in the energy sector in Iran. This company delivered comprehensive solutions including operation and maintenance, overhaul and repair, commissioning, performance test and training in the fields of power and oil and gas. By 2021, the company had provided long-term operation and maintenance services in more than thirty power plants in Iran and had implemented more than 200 projects worth more than 300 million USD. MAPNA Operation and Maintenance Company believed that a sustainable and responsible management could be achieved through integrated management of the economic, social and environmental impacts of the business. This approach became more apparent when the company provided services countrywide, and they interacted with a wide range of stakeholders. In this context, efforts were made to create common values for both the organization and society. Some of the company’s long-term projects were in less developed areas of the country. One of the social issues in those regions was creating jobs for jobless people and preparing them to work in order to have a better life. The company policy in providing manpower for such projects was to employ indigenous manpower, training them and creating sustainable jobs for them. After hiring local workforce, the company provided professional and general training programs to improve their skills and knowledge. Also, the company was committed to prepare a healthy and safe work environment for employees to learn and comply with ethical and social norms and develop a sustainable environmental attitude by increasing the efficiency of using natural resources and controlling environmental pollution. Work-life balance programs were implemented to ensure a productive presence in the workplace and to maintain a healthy and meaningful family relationship for employees. This case aims to elaborate more on the challenges of the sustainable activities of the long-term projects that MAPNA Operation and Maintenance planned and implemented in terms of its corporate social responsibility and social entrepreneurship specifically in less developed areas.
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Robert Smith and Gerard McElwee
To explore and document the emerging international market for stolen tractors and plant in the United Kingdom. Whilst this may appear to be a criminological problem relating…
Abstract
Purpose
To explore and document the emerging international market for stolen tractors and plant in the United Kingdom. Whilst this may appear to be a criminological problem relating specifically to rural crime, it is a sophisticated international criminal business organised by traditional organised crime groups (OCGs) such as the Italian, Polish and Turkish Mafia’s in conjunction with a network of criminal entrepreneurs.
Methodology/approach
Using annual statistical data provided by National Farmers Union (NFU) Mutual and Plant and Agricultural National Intelligence Unit (PANIU) and other material sourced using documentary research techniques supplemented by qualitative interviews with industry specialists we present 10 micro-case studies of rural OCGs engaged in this lucrative enterprise crime. The data is verified and authenticated using narrative inquiry techniques.
Findings
There is an entrepreneurial dimension to the crime because traditional criminal families with knowledge of rural areas and rural social capital form alliances with OCGs. The practical utility of the NFU model of entrepreneurial alliances with interested parties including the police is highlighted.
Research limitations/implications
Implications for research design, ethics and the conduct of such research which are identified and discussed. These include the need to develop an investigative framework to protect academic researchers similar to guidelines in place to protect investigative journalists.
Practical implications
An investigative framework and the adaption of the business model canvass (Osterwalder & Pigneur, 2010) to cover illegal business models are proposed.
Social implications
Suggestions are provided for the need to legislate against international criminal conspiracies.
Originality/value
Uses a mixture of entrepreneurship and criminological theories to help develop an understanding of the problem from an investigative perspective.
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This article posits that the effect of political hazards on the choice of market entry mode varies across multinational firms based on the extent to which they face expropriation…
Abstract
This article posits that the effect of political hazards on the choice of market entry mode varies across multinational firms based on the extent to which they face expropriation hazards from their potential joint-venture partners in the host country (the level of contractual hazards). As political hazards increase, the multinational faces an increasing threat of opportunistic expropriation by the government. Partnering with host-country firms that possess a comparative advantage in interactions with the host-country government can safeguard against this hazard. However, as contractual hazards increase, the potential benefit to the joint-venture partner of manipulating the political system for its own benefit at the expense of the multinational increases as well, thereby diminishing the hazard-mitigating benefit of forming a joint venture. A two-stage bivariate probit estimation technique is used to test these hypotheses on a sample of 3,389 overseas manufacturing operations by 461 firms in 112 countries.
Tatiana Albanez and Gerlando Augusto Sampaio Franco de Lima
According to the market timing theory, firms try to take advantage of windows of opportunity to raise capital by exploiting temporary cost fluctuations of alternative financing…
Abstract
Purpose
According to the market timing theory, firms try to take advantage of windows of opportunity to raise capital by exploiting temporary cost fluctuations of alternative financing sources. In this context, the main objective of this paper is to examine the influence and persistence of market timing in the financing decisions of Brazilian firms that launched IPOs in the period from 2001 to 2011.
Methodology/approach
We analyze the influence of past market values on the capital structure of these firms, based on the main models proposed by Baker and Wurgler (2002), adapted to reflect the characteristics of Brazilian firms’ financial statements.
Findings
We find evidence of market timing, but this behavior is not sufficiently persistent in the period studied to the point of determining these firms’ capital structure. We believe the fact that Brazilian companies rarely carried out follow-on primary equity issues after floating their capital in the period analyzed, due to the presence of more advantageous financing sources (particularly from the national development bank, BNDES), explains the results. Therefore, Brazilian firms appear to be pay heed to different funding sources, in search of windows of opportunity, to guide their financing decisions and determine their capital structures.
Originality/value
The Brazilian capital market has been developing intensely in recent years, making it increasingly relevant to analyze the financing and investment decisions of the country’s listed companies. The Brazilian literature on capital structure is extensive, but few works have addressed the issue of market timing.
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Matt Kaufman, Ella Mae Matsumura and Urban Wemmerlöv
This study examines challenges to the retrospective financial evaluation of continuous improvement (CI) activities. Through a review of the literature and active engagement with…
Abstract
This study examines challenges to the retrospective financial evaluation of continuous improvement (CI) activities. Through a review of the literature and active engagement with CI implementations, we identify several issues that may lead to divergence between operational and financial assessments. Out of this conflict emerges a set of concepts that we find important − the delineation of soft versus hard capacity benefits, the distinction between capacity used and capacity paid for, and the data gaps that relate to these benefits – and recognize operational improvement and financial improvement as distinct, yet interrelated, theoretical constructs. This study helps explain a series of persistent gaps in the management accounting literature: Conflict between operations and accounting managers, the divergent perspectives of Johnson and Kaplan after their publication of Relevance Lost (Johnson & Kaplan, 1987), and the need for both operational control (including detailed capacity control) and accounting control in CI firms. Instead of one control system being at odds with the other, or co-existing despite each other, each of these systems support a different component of the financial improvement process. Operational control systems in CI firms emphasize non-financial information and social and behavioral controls that empower decision-making by employees, while accounting control systems seek to motivate and translate operational gains into financial gains. Soft and hard benefits linked to capacity play an integral role in understanding the difference in focus of each control system, while data limitations help to explain why these systems remain loosely coupled in practice (or absent, as seems to be the case with detailed Capacity Management Systems).
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Bill B. Francis, Iftekhar Hasan and Gokhan Yilmaz
This chapter investigates whether core competence of managers and their expansive (vs. specialized) managerial style affects firms' innovative ability, capacity, and efficiency…
Abstract
This chapter investigates whether core competence of managers and their expansive (vs. specialized) managerial style affects firms' innovative ability, capacity, and efficiency. Using exogenous CEO departures as a natural experiment, it establishes a causal link between managerial capability and innovation. Importantly, it reveals that firms with talented managers receive significantly more nonself citations; make significantly lower self-citations and lesser citations to the others, indicating novel and explorative innovation achievements. Also, managers with higher general (specialized) ability are cited more (less) by patents from a wider range of fields. Lastly, career concern is identified as a mechanism linking higher ability and innovation.
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Carol MacPhail, Riza Emekter and Benjamas Jirasakuldech
Bonus depreciation was enacted by the United States Congress and signed into law in 2002 largely in response to the economic malaise that engulfed the U.S. economy after the…
Abstract
Bonus depreciation was enacted by the United States Congress and signed into law in 2002 largely in response to the economic malaise that engulfed the U.S. economy after the September 11, 2001 terrorist attacks. We investigate whether bonus depreciation, a capital asset expensing allowance under the U.S. federal income tax code, impacts the level of business investment in property, plant, and equipment in the time periods that followed 9-11 in comparison to other earlier time periods. Based on the empirical evidence, the bonus depreciation policy has a positive effect on capital expenditures only in the period in which this policy was legislatively anticipated, specifically the period spanning the last quarter of 2001 and the first quarter of 2002. Otherwise, we find no significant increase in capital expenditures during the period that this special depreciation provision policy is initially in place from 2002 to 2005. Although bonus depreciation is re-enacted in response to the fiscal distress and recession that began in 2007, capital expenditures actually decline during the recovery era, a period following the post-2008 subprime mortgage crisis. Though Congress continues to temporarily re-enact bonus depreciation on an annual basis through December 31, 2014, there is no strong evidence that capital investment is positively impacted. Instead, the empirical results show that factors that positively affect the level of companies’ capital expenditures include capital intensity, cost of capital, amount of cash holdings, changes in sales and loans. Our empirical results invite the question of Congress’ intended goal in re-instating bonus depreciation for 2015 through 2019.
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Brenda Anderson, Mario J. Maletta and Kimberly Moreno
Most undergraduate and graduate financial accounting exercises follow a “forward based” pedagogical approach where students learn how accounting events (causes) are captured in…
Abstract
Most undergraduate and graduate financial accounting exercises follow a “forward based” pedagogical approach where students learn how accounting events (causes) are captured in the accounting system and appear on the financial statements (effects). While these forward based approaches are necessary and effective ways to teach the fundamentals of accounting, they provide a relatively narrow procedural perspective on how to use such knowledge. The reality is that many students will be required to solve problems where the ultimate goal is to discern the causes of financial statement outcomes. To solve such problems, “backward based” procedural knowledge is required. Research in cognitive psychology indicates students need exposure to problems that require different procedural knowledge to develop the flexible problem solving schemas necessary to address problems with different end goals (Chen & Mo, 2004). We present a series of financial accounting exercises designed to help students develop skills associated with analyzing financial statement outcomes (effects) to determine the causal accounting events. The exercises also provide a comprehensive review of the primary financial accounting topics typically addressed in introductory accounting courses. This allows the exercises to be used as an ongoing end of chapter review problem or as a comprehensive course review exercise.
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