Search results

In this paper, we explore an extensive panel data set covering more than 4,000 listed firms in 16 European countries to study the effects of shareholder protection on ownership structure and firm performance. We document a negative firm-level correlation between shareholder protection and ownership concentration. Differentiating between shareholder types, we find that this pattern is mainly driven by strategic investors. In contrast, we find a positive correlation between shareholder protection and block ownership of institutional investors, in particular when we restrict the analysis to independent institutional investors. Finally, we find that independent institutional investors are positively associated with firm valuation as measured by Tobin’s Q. The opposite applies for strategic investors. Overall, our results are consistent with the view that (i) high shareholder protection and (ii) limited ownership by strategic investors make small investors and investors interested in security returns more confident in their investments.

This paper analyses the relationship between environmental protection and mid‐term financial performance, focusing on when and why this relationship is positive. In particular, the paper disaggregates environmental protection, differentiating between environmental management practices, environmental proactivity and environmental performance of the organization.

It uses a cross‐section survey of 2,122 Welsh companies to gather information on environmental practices and the FAME database to collect data on accounting based financial performance. The paper uses regression analysis on a combined sample of 186 Welsh companies to evaluate the effect on performance of different types of environmental protection.

On the whole, the results show a positive effect of environmental protection on mid‐term financial performance. Financial performance has a positive and significant correlation with environmental proactivity and with environmental performance, while it has a no significant relation with environmental management.

The paper presents a disaggregated analysis of environmental protection in relationship with financial performance. The paper differentiates between environmental management practices, environmental proactivity and environmental performance of the organization in their relationship with financial performance.

The purpose of this study is to define the interactions that determine how secure a society is from terrorism and to propose a method for measuring the threat of terrorism in an objective and spatio-temporally comparable manner.

Game-theoretic analysis of the determinants of security and discussion of how to implement these interactions into a measure of security.

We show that governments concerned with popularity have an incentive to over-invest in security and that, in certain situations, this leads to a deterioration in net security position. Our discussion provides an implementable means for measuring the levels of threat and protection, as well as individuals’ perceptions of both, which we propose can be combined into an objective and scientific measure of security.

The implication for researchers is the suggestion that efficiency, as well as scale of counter-terrorism, is important in determining a country’s overall security position. Furthermore, we suggest that individuals’ perceptions are at least as important in determining suitable counter-terrorism policy as objective measures of protection and threat. The limitations of this research are found in the vast data requirements that any attempt to measure security will need.

We propose the first method for objectively measuring the net security position of a country, using economic and econometric means.

The purpose of this paper is to investigate pertinent knowledge protection literature. At the same time, however, knowledge protection is often a neglected or underdeveloped area. This is all the more concerning as knowledge protection plays an essential part in preserving an organization’s competitive advantage. Despite the recognition of this issue by scholars, the knowledge management literature has so far tended to concentrate on the facilitation of knowledge sharing rather than on knowledge protection.

In this paper, the authors present the results of a structured literature review undertaken to investigate the current state of research on knowledge protection. The paper identifies core domains in knowledge protection literature, discusses theoretical perspectives and research methods, sheds light on the role of the information technology (IT) artefact in knowledge protection research and develops a portfolio of knowledge protection measures.

In this paper, 48 papers were analyzed by taking five analytical dimensions into account: research domains, research methods and models, the role of the IT artefact, theoretical views and measures to enforce knowledge protection. Based on the discussion of the results, promising avenues for further research were identified and a research agenda was proposed. The authors argued for more research on the protection of tacit knowledge, more in-depth empirical investigations, more research on IT support and a stronger consideration of theories in knowledge protection research, as well as research on how organizations could build a strategy of knowledge protection.

Tacit knowledge, as well as informal alliances or (social) networks, is under-researched so far. Knowledge protection phenomena need to be investigated in depth to test the assumptions stated in many conceptual papers. IT artefacts should be developed and evaluated. More theory-based research and overarching frameworks or strategies for knowledge protection need to be developed.

In this paper, a portfolio of knowledge protection measures was developed, which might be of particular interest for practitioners. Further, the paper provides a good overview of the current state of practice regarding knowledge protection.

So far, there is no structured literature available focussing on the topic of knowledge protection.

This study aims to determine experimentally factors affecting the satisfaction of retail stock investors with various investor protection regulatory measures implemented by the Government of India and Securities and Exchange Board of India (SEBI). Also, an effort has been made to gauge the level of satisfaction of retail equities investors with the laws and guidelines developed by the Indian Government and SEBI for their invested funds.

To accomplish the study’s goals, a well-structured questionnaire was created with the help of a literature review, and copies of it were filled by Punjabi retail equities investors with the aid of stockbrokers, i.e. intermediaries. Amritsar, Jalandhar, Ludhiana and Mohali-area intermediaries were chosen using a random selection procedure. Xerox copies of the questionnaire were given to the intermediaries, who were then asked to collect responses from their clients. Some intermediaries requested the researcher to sit in their offices to collect responses from their clients. Only 373 questionnaires out of 1,000 questionnaires that were provided had been received back. Only 328 copies were correctly filled by the equity investors. To conduct the analysis, 328 copies, which were fully completed, were used as data. The appropriate approaches, such as descriptives, factor analysis and ordinal regression analysis, were used to study the data.

With the aid of factor analysis, four factors have been identified that influence investors’ satisfaction with various investor protection regulatory measures implemented by government and SEBI regulations, including regulations addressing primary and secondary market dealings, rules for investor awareness and protection, rules to prevent company malpractices and laws for corporate governance and investor protection. The impact of these four components on investor satisfaction has been investigated using ordinal regression analysis. The pseudo-R-square statistics for the ordinal regression model demonstrated the model’s capacity for the explanation. The findings suggested that a significant amount of the overall satisfaction score about the various investor protection measures implemented by the government/SEBI has been explained by the regression model.

A study could be conducted to analyse the perspective of various stakeholders towards the disclosures made and norms followed by corporate houses. The current study may be expanded to cover the entire nation because it is only at the state level currently. It might be conceivable to examine how investments made in the retail capital market affect investors in rural areas. The influence of reforms on the functioning of stock markets could potentially be examined through another study. It could be possible to undertake a study on female investors’ knowledge about retail investment trends. The effect of digital stock trading could be examined in India. The effect of technological innovations on capital markets can be studied.

This research would be extremely useful to regulators in developing policies to protect retail equities investors. Investors are required to be safeguarded and protected to deal freely in the securities market, so they should be given more freedom in terms of investor protection measures. Stock exchanges should have the potential to bring about technological advancements in trading to protect investors from any kind of financial loss. Since the government has the power to create rules and regulations to strengthen investor protection. So, this research will be extremely useful to the government.

This work has societal ramifications. Because when adequate rules and regulations are in place to safeguard investors, they will be able to invest freely. Companies will use capital wisely and profitably. Companies should undertake tasks towards corporate social responsibility out of profits because corporate houses are part and parcel of society only.

Many investors may lack the necessary expertise to make sound financial judgments. They might not be aware of the entire risk-reward profile of various investment options. However, they must know various investor protection measures taken by the Government of India & Securities and Exchange Board of India (SEBI) to safeguard their interests. Investors must be well-informed on the precautions to take while dealing with market intermediaries, as well as in the stock market.

The current fire protection measures in buildings do not account for all contemporary fire hazard issues, which has made fire safety a growing concern. Therefore, this paper aims to present a critical review of current fire protection measures and their applicability to address current challenges relating to fire hazards in buildings.

To overcome fire hazards in buildings, impact of fire hazards is also reviewed to set the context for fire protection measures. Based on the review, an integrated framework for mitigation of fire hazards is proposed. The proposed framework involves enhancement of fire safety in four key areas: fire protection features in buildings, regulation and enforcement, consumer awareness and technology and resources advancement. Detailed strategies on improving fire safety in buildings in these four key areas are presented, and future research and training needs are identified.

Current fire protection measures lead to an unquantified level of fire safety in buildings, provide minimal strategies to mitigate fire hazard and do not account for contemporary fire hazard issues. Implementing key measures that include reliable fire protection systems, proper regulation and enforcement of building code provisions, enhancement of public awareness and proper use of technology and resources is key to mitigating fire hazard in buildings. Major research and training required to improve fire safety in buildings include developing cost-effective fire suppression systems and rational fire design approaches, characterizing new materials and developing performance-based codes.

The proposed framework encompasses both prevention and management of fire hazard. To demonstrate the applicability of this framework in improving fire safety in buildings, major limitations of current fire protection measures are identified, and detailed strategies are provided to address these limitations using proposed fire safety framework.

Fire represents a severe hazard in both developing and developed countries and poses significant threat to life, structure, property and environment. The proposed framework has social implications as it addresses some of the current challenges relating to fire hazard in buildings and will enhance overall fire safety.

The novelty of proposed framework lies in encompassing both prevention and management of fire hazard. This is unlike current fire safety improvement strategies, which focus only on improving fire protection features in buildings (i.e. managing impact of fire hazard) using performance-based codes. To demonstrate the applicability of this framework in improving fire safety in buildings, major limitations of current fire protection measures are identified and detailed strategies are provided to address these limitations using proposed fire safety framework. Special emphasis is given to cost-effectiveness of proposed strategies, and research and training needs for further enhancing building fire safety are identified.

The research aims to establish the predictors of the acceptance of technical and organizational measures for the protection of personal data to ensure information privacy in Croatian libraries, starting from the constructs of the APCO Macro Model.

Two data collection methods were used: the online survey questionnaire method and the analysis of the websites of independent libraries in the Republic of Croatia.

The results show that the acceptance of measures for personal data protection by a library manager is mostly influenced by perceived knowledge, while culture and trust have a positive correlation of moderate strength. Awareness has a low positive correlation, and privacy experience is not statistically related to the acceptance of measures. There is no statistically significant difference in the acceptance of measures for the protection of personal data concerning age and work experience in the profession. There is a statistically significant correlation between compliance with the principle of transparency and the size of the library.

The study is valuable as it examined the characteristics of the culture of information privacy in libraries and determined the existence and impact of factors that influence ensuring the information privacy of users in Croatian libraries.

The purpose of this paper is to explore the development of preventative counter-ambush marketing initiatives and rights protection strategies, providing an historical view of rights management and the International Olympic Committee’s sponsorship protection initiatives through ambush marketing’s formative years.

In examining the antecedents and implications of the Canadian Olympic Committee’s (COC) forward-thinking approach to ambush marketing protection, and to explore the development of preventative counter-ambush initiatives, an historical examination of IOC and COC policies and protocols regarding ambushing and sponsorship protection over a 30-year period was undertaken, informing the development of a proposed model of proactive commercial rights management.

The findings indicate that a progressive shift in the counter-ambush activities of major commercial rights holders may be underway: increasingly, the COC has stressed education and communication as key components of their commercial rights protection strategy, in lieu of enforcing the legal protection provided them by the Olympic and Paralympic Marks Act of 2007. The resultant commercial rights management model proposed reflects this proactive approach, and illustrates the need for events and sponsorship stakeholders to Anticipate, (Re)Act and Advocate.

The study offers a contemporary perspective into counter-ambush strategies within the context of the COC’s brand protection measures and industry practice. The proactive approach to commercial rights management explored represents a significant step in ambush marketing prevention on the part of the COC.

Our research investigates how state-sponsored social protection is associated with undertaking the initial steps to start businesses in knowledge-intensive sectors. We define social protection as policies to protect individuals against economic risk. Although research generally shows a negative link between coordinated market economies and business creation, we highlight conditions when social protection may actually have positive consequences on entrepreneurial action. Specifically, these policies can encourage individuals to develop specific skills, which can be used by those who start businesses to pursue opportunities in knowledge-intensive sectors. Findings from a cross-national sample of individuals starting businesses in 16 advanced industrialized countries are consistent with this claim. We also find that educational attainment moderates this positive direct relationship. Our study is one of the first that provides new explanations for how welfare states can actually promote certain types of entrepreneurial action in highly coordinated economies by orienting their economic activity toward a system of highly skilled and productive labor.

Aims to examine the impact of health and safety legislation emanating from the European Community and to analyse what effect, if any, it will have on British occupational health and safety law. An examination of the social action programmes shows that the pace of change has increased rapidly since the Single European Act was incorporated into the Treaty of Rome and became operative from July 1987. Because of rapid changes that are occurring on a broad front there was a need to be selective. Emphasizes to some extent, therefore, the construction industry because it would appear that European legislation is likely to have a major impact on British law and practice in this industry.