Search results

Management buyout (MBO) is a specialized form of acquisition with different motives. Sometimes, there are initiatives taken by the senior management to bailout the firm from sickness. The predominant agency theory focuses only on the governance issues in the MBO firms and this theory can be applied to understand how managerial discretion can play vital roles in mitigating value destruction in the post-MBO firm. A CEO-led MBO is presumed to be greed-driven (Bebchuk, L., Cremers, M., & Peyer, U. (2011). The CEO pay slice. Journal of Financial Economics, 102, 199–221.). But a senior management team-led MBO is said to be a socialistic move. By default, MBOs are debt-driven, unless the buying management team is financially affluent, which may be rare, considering the price for the buyout. Private equity (PE) players play a dominant role in providing and or arranging funds in the form of equity and or debt. There is a notion that the PE investors help promote entrepreneurial and modern management practices. The MBO target firm has to ensure returning the entire money back to the sponsors within the shortest possible time out of the operational cash flow. Therefore, various issues like identifying a target firm, sourcing mix of finance, MBO price determination, value creation and value delivery to all stakeholders are all important for understanding the subject. This chapter attempts to construct a robust model for structuring MBO to ensure value fairness to all parties involved in the transaction.

Violence against women and girls (VAWG) is a global policy issue with significant social, economic and personal consequences. The burden of VAWGs is distributed unequally, with rates of gender violence significantly higher in low- to middle-income countries of the Global South. Yet the bulk of global research on gender violence is based on the experiences of urban communities in high-income English-speaking countries mainly from the Global North. This body of research typically takes the experience of women from Anglophone countries as the norm from which to theorise and frame theories and research of gender-based violence. This chapter problematises theories that the privilege women in the Global North as the empirical referents of ‘everyday violence’ (Carrington et al., 2016). At the same time, however, it is important to resist homogenising the violence experienced by women across diverse societies in the Global South as oppressed subaltern Southern. This binary discourse exaggerates the differences and obfuscates the similarities of VAWG across Northern and Southern borders and reproduces images of women in the Global South as unfortunate victims of ‘other’ cultures (Durham, 2015; Narayan, 1997). This chapter contrasts three examples, the policing of family violence in Indigenous communities in Australia; Image-based Abuse in Singapore; and the policing of gender violence in the Pacific as a way of concretising the argument.

The purpose of this chapter is to review how well walking interventions have increased and sustained walking, and to provide suggestions for improving future walking interventions. A scoping review was conducted of walking interventions for adults that emphasised walking as a primary intervention strategy and/or included a walking outcome measure. Interventions conducted at the individual, community, and policy levels between 1990 and 2015 were included, with greater emphasis on recent interventions. Walking tends to increase early in interventions and then gradually declines. Results suggest that increased walking, and environmental-change activities to support walking are more likely to be sustained when they are immediately followed by greater economic benefits/time-savings, social approval, and/or physical/emotional well-being. Adaptive interventions that adjust intervention procedures to match dynamically changing environmental circumstances also hold promise for sustaining increased walking. Interventions that incorporate automated technology, durable built environment changes, and civic engagement, may increase cost-efficiency. Variations in outcome measures, study duration, seasons, participant characteristics, and possible measurement reactivity preclude causal inferences about the differential effectiveness of specific intervention procedures for increasing and sustaining walking. This review synthesises the effects of diverse walking interventions on increasing and sustaining walking over a 25-year period. Suggestions are provided to guide future development of more effective, sustainable walking interventions at the population level.

How are we to make sense of the attitudes of Social Democratic parties towards decentralisation? What do they think about what is a legitimate territorial allocation of power? What factors shapes this view? And what makes Social Democratic parties change their minds? This article addresses these questions by way of competing ideological traditions, the external strategic incentives and internal constraints. Empirically, the article presents a comparative case-study analysis of Social Democratic parties in four countries (Belgium, Italy, Spain and United Kingdom). On the basis of this analysis, I argue that the positioning of Social Democratic parties on decentralisation is influenced by strategic incentives created by the structure of political competition, whereas the policy shifts are more often produced by factors that are internal to the party. A decentralist policy shift is always associated with the capacity of regionalist parties to set the agenda by exerting pressures on Social Democratic parties. In addition, Social Democratic parties tend to shift their policy while in opposition to distinguish themselves from their centralist mainstream rival in government. The dominant mechanism found across four countries was one in which regional branches persuade the central party leadership to adopt a pro-decentralist position. This chapter illustrates how Social Democratic parties have an instinct for ‘adaptation and control’ in the face of social-structural changes, and it demonstrates that the prevalence of different ideological traditions will vary according to external strategic incentives and, crucially, by the party's internal ability to follow those incentives.