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1 – 10 of 622In this chapter, we assess the ownership characteristics for the companies in our sample. For this, we do not only use ownership concentration measures such as the…
Abstract
In this chapter, we assess the ownership characteristics for the companies in our sample. For this, we do not only use ownership concentration measures such as the Herfindahl–Hirschman index but also voting power measures since ownership and voting power are not necessarily equivalent. We find that, in line with previous studies, ownership concentration and voting power of large shareholders is generally higher in continental European countries, which has important implications for corporate governance.
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Provides a brief summary of the use of CFCs and HCFCs in general and marine refrigeration, and the ban on the use of CFCs. Discusses alternative refrigerants, and their advantages…
Abstract
Provides a brief summary of the use of CFCs and HCFCs in general and marine refrigeration, and the ban on the use of CFCs. Discusses alternative refrigerants, and their advantages and disadvantages. Reviews refrigeration compressor lubrication and recent developments.
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This paper examines the appropriate term of the risk free rate to be used by a regulator in price control situations, most particularly in the presence of corporate debt. If the…
Abstract
This paper examines the appropriate term of the risk free rate to be used by a regulator in price control situations, most particularly in the presence of corporate debt. If the regulator seeks to ensure that the present value of the future cash flows to equity holders equals their initial investment then the only choice of term for the risk free rate that can achieve this is that matching the regulatory cycle, but it also requires that the firm match its debt duration to the regulatory cycle. Failure of the firm to do so leads to cash flows to equity holders whose net present value will tend to be negative, and will also inflict interest rate risk upon equity holders. This provides the firm with strong incentives to match its debt duration to the regulatory cycle.
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Lally (2007) concludes that regulators must estimate the risk‐free rate as the yield‐tomaturity on Government debt with a term‐tomaturity equal to the regulatory period, to ensure…
Abstract
Lally (2007) concludes that regulators must estimate the risk‐free rate as the yield‐tomaturity on Government debt with a term‐tomaturity equal to the regulatory period, to ensure that the present value of expected cash flows equals the investment base. The analytics behind this conclusion assume that forward rates are an unbiased estimate of future spot rates, an assumption which is inconsistent with empirical evidence. This has an important economic implication. With the typical case being that the yield curve is upward‐sloping, adopting a short‐term risk‐free rate would result in equityholders being systematically undercompensated for the actual risk involved in a long‐lived project. If we adopt an alternative assumption that current rates are an unbiased estimate of future rates, the regulated rate of return is a function of the entire forward curve of interest rates and the accounting depreciation schedule. For long‐lived assets, benchmarking against the yield‐to‐maturity on long‐dated Government securities results in a far closer approximation of the appropriate return than the use of short‐term rates.
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This paper examines the qualities of situations wherein hybrid professionals in knowledge-intensive public organizations (KIPOs) vary in their displays of conflicting…
Abstract
Purpose
This paper examines the qualities of situations wherein hybrid professionals in knowledge-intensive public organizations (KIPOs) vary in their displays of conflicting institutional logics. Specifically, it examines the situations when individual researchers vary in their displays of a traditionalist academic- and an academic performer logic.
Design/methodology/approach
Analysis is grounded in an institutional logics perspective and founded on qualitative interviews with university researchers recurrently exposed to performance measurement and management.
Findings
The findings show that individual researchers display a traditionalist academic- and an academic performer logic in situations of lower or higher “perceived control exposure” (i.e. perceptions of (not) being exposed to “what the performance measurement system wants to/can ‘see’”). In more detail, that a traditionalist academic logic is displayed more in situations of lower “perceived control exposure” whereas an academic performer logic is displayed comparatively more in situations of higher “perceived control exposure”.
Originality/value
These findings add insight into when there is room for resistance to pressures to perform in accordance with increasing performance measurement and when researchers more so tend to conform. While previous research has mostly studied such matters by emphasizing variation between researchers, this study points out the importance of situations of lower or higher “perceived control exposure”. Such insight is arguably also more broadly valuable since it adds to our understanding about hybridity of professionals in KIPOs and how to design and use performance measurement systems in relation to them.
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Magdalena Florek, Marta Herezniak and Anna Augustyn
The purpose of the study is to verify the theoretical assumptions based on literature review regarding the issue of brand effectiveness evaluation and the potential measurement…
Abstract
Purpose
The purpose of the study is to verify the theoretical assumptions based on literature review regarding the issue of brand effectiveness evaluation and the potential measurement framework, as well as to provide insights into the nature of effectiveness measurement of city brand strategies. The findings are considered important foundations for designing a place branding measurement system, which is the next step and final purpose of the author’s research project.
Design/methodology/approach
A total of 12 international academic experts from eight countries (in four continents) were individually interviewed. A semi-structured individual interview was applied as a research method. Sampling was purposive and the respondents represented the fields of marketing, place branding and public management. The standardized set of 19 open-ended questions was categorized into four themes (city brand effectiveness, methodology, measurement process and indicators).
Findings
The measurement of effectiveness of city branding should be treated as a strategic endeavor; however, it is a complex issue where political, social and methodological challenges overlap. Barriers to the development of a well-functioning measurement system include: too narrow understanding of what brand is, lack of knowledge or culture of measurement, conflicting political interests, reluctance to involve internal stakeholders, insufficient funding and complexity of the brand itself. The reliable measurement system should be characterized by attributes such as simplicity and durability, stakeholder inclusion, political rationale, adjustment to the specificity of the city and the independence of the measuring body/institution.
Originality/value
Up-to-date, common standards or universal measurement frames of the place branding measurement system do not exist. No discussion can be found in the literature on how such a system should be designed and implemented. Opinions of the experts interviewed provide important insights into the components and conditions of the reliable measurement system that would meet both methodological standards and practical needs. Further studies and analyses are however necessary to eventually compose the optimal city brand measurement system.
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Mina Moeinedini, Sadigh Raissi and Kaveh Khalili-Damghani
Enterprise resource planning (ERP) is assumed as a commonly used solution in order to provide an integrated view of core business processes, including product planning…
Abstract
Purpose
Enterprise resource planning (ERP) is assumed as a commonly used solution in order to provide an integrated view of core business processes, including product planning, manufacturing cost, delivery, marketing, sales, inventory management, shipping and payment. Selection and implementation of a suitable ERP solution are not assumed a trivial project because of the challenging nature of it, high costs, long-duration of installation and customization, as well as lack of successful benchmarking experiences. During the ERP projects, several risk factors threat the successful implementation of the project. These risk factors usually refer to different phases of the ERP projects including purchasing, pilot implementation, teaching, install, synchronizing, and movement from old systems toward new ones, initiation and utilization. These risk factors have dominant effects on each other. The purpose of this paper is to explore the hybrid reliability-based method is proposed to assess the risk factors of ERP solutions.
Design/methodology/approach
In this regard, the most important risk factors of ERP solutions are first determined. Then, the interactive relations of these factors are recognized using a graph based method, called interpretive structural modeling. The resultant network of relations between these factors initiates a new viewpoint toward the cause and effect relations among risk factors. Afterwards, a fuzzy fault tree analysis is proposed to calculate Failure Fuzzy Possibility (FFP) for the basic events of the fault tree leading to a quantitative evaluation of risk factors.
Findings
The whole proposed method is applied in a well-known Iranian foodservice distributor as a case study. The most impressive risk factors are identified, classified and prioritized. Moreover, the cause and effect diagram between the risk factors are identified. So, the ERP leader can plan a low-risk project and increase the chance of success.
Originality/value
According to the authors’ best knowledge, such approach was not reported before in the literature of ERP risk assessments.
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Kamal Hossain, Kenny Cheah Soon Lee, Ilhaamie Binti Abdul Ghani Azmi, Aida Binti Idris, Mohammad Nurul Alam, Md. Adnan Rahman and Norinah Mohd Ali
This study aims to explain the effect of entrepreneurial orientation (EO) dimensions on firms’ export performance. The study has considered three dimensions of EO: innovativeness…
Abstract
Purpose
This study aims to explain the effect of entrepreneurial orientation (EO) dimensions on firms’ export performance. The study has considered three dimensions of EO: innovativeness, proactiveness and risk-taking. Export performance has been measured through multifaceted determinants: financial, strategic and satisfaction levels of exporting firms.
Design/methodology/approach
To explain the association between such determinants, qualitative face-to-face, in-depth interviews were conducted with the respondents from the apparel manufacturing companies of Bangladesh. The study has also applied a content analysis technique to explore and triangulate the descriptions of EO dimensions on performance.
Findings
The research results reveal that EO has a meaningful explanation of export performance from the lived experience of the respondents. The study has also found frequent explanations and indicators about the association of innovativeness and proactiveness on export performance, but the risk-taking dimension has revealed no effects.
Research limitations/implications
The research has different implications on theoretical, managerial and policy-making aspects of EO and export performance. Nevertheless, the findings are based on the opinions of a small sample of entrepreneurs and high-level managers. Thus, it is important to test the generalizability of these findings in future research using a larger sample.
Originality/value
This study indicated product, process and market creation innovativeness. Risks related to product innovation, new market entry and politics are considered for risk-taking measures, while proactive innovation, technology and new market searching are used for measuring proactiveness. Additionally, multifaceted performance determinants have been applied to evaluate export performance. Hence, this study is a unique qualitative analysis with important theoretical, practical and methodological implications.
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