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Article
Publication date: 1 May 1991

Roger Bade

Financial institutions, banks, insurance and fund managementcompanies are starting to use environmental audits as management tools.As more attention is given to the…

Abstract

Financial institutions, banks, insurance and fund management companies are starting to use environmental audits as management tools. As more attention is given to the environment, fund managers will become anxious to monitor the environmental performance of the companies in which they invest. One effective tool in monitoring environmental performance is the environmental audit. They not only highlight the environmental risks but also indicate business opportunities. In order to monitor the investments on the Commercial Union Environmental Exempt Pension Fund, the “Outline System for Good Environmental Management” and the “Environmental Management Check List” has been developed. The latter is intended to focus the attention of analysts and fund managers on key aspects of good environmental management.

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Managerial Auditing Journal, vol. 6 no. 5
Type: Research Article
ISSN: 0268-6902

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Abstract

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Economics of Art and Culture Invited Papers at the 12th International Conference of the Association of Cultural Economics International
Type: Book
ISBN: 978-0-44450-995-6

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Article
Publication date: 2 October 2009

Joseph Loersch and William Ross

The purpose of this paper is to describe a classroom negotiation exercise. A case involving controversy over the naming of a sports stadium containing a university…

Abstract

Purpose

The purpose of this paper is to describe a classroom negotiation exercise. A case involving controversy over the naming of a sports stadium containing a university football field and track is described. A local municipality, representing veterans groups, negotiates with university officials over a university plan to rename “Veteran's Memorial Stadium” after a recently‐retired football coach.

Design/methodology/approach

The negotiation activity is adapted from an actual case. It requires little advance preparation and can be used with either pairs or small groups of participants. “Teaching notes” provide instructions for using the activity.

Findings

The “Teaching Notes” examine how this controversy illustrates several concepts related to conflict, integrative bargaining, power and negotiating on behalf of constituents.

Originality/value

The case differs from many published cases in that one side's position is apparently rooted in values and matters of principle whereas the other side's position is interest‐based. The student must grapple with these dynamics, while seeking an integrative solution to the issues.

Details

International Journal of Conflict Management, vol. 20 no. 4
Type: Research Article
ISSN: 1044-4068

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Book part
Publication date: 11 December 2006

Nick Schandler

The “winner's curse” (or, more precisely, failure to account for the winner's curse) was one of the first behavioral “anomalies” to be discussed in the literature. The…

Abstract

The “winner's curse” (or, more precisely, failure to account for the winner's curse) was one of the first behavioral “anomalies” to be discussed in the literature. The idea dates back to 1971, and was first applied to the bidding for oil drilling rights (See Capen, Clapp, & Campbell, 1971). The winner's curse is the phenomenon of systematically upward-biased winning bids in an auction market. That is, the winning bid in an auction tends to be much higher than some objectively defined value of the good.2 The basis of the anomaly is relatively simple. In an auction with a large number of buyers, each possessing imperfect information concerning the value of the auctioned good, there will be a spread of estimated values. If buyers possess rational expectations, we will expect roughly half (assuming a symmetric distribution of estimates) of the bidders to overestimate the value of the good, and roughly half to underestimate its true value. If buyers naively bid their estimated value of the good, the winning bid will equal the most extremely over-valued estimate. Thus, the winning bid will not only be an overestimate of the good's true value, but it will be the most extreme overestimate made by any bidder. Hence, while on average an individual's bid may equal the actual value of the auctioned good, the winning bid will most likely be a severe overestimate of the good's value. For this reason, bidders who naively bid their estimated value at an auction will tend to regret winning.

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Cognition and Economics
Type: Book
ISBN: 978-1-84950-465-2

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Book part
Publication date: 3 October 2007

Susan Newberry and Kerry Jacobs

New Zealand is widely recognised as extreme in its New Public Financial Management reforms. Scrutiny of the reformed financial management system reveals its consistency…

Abstract

New Zealand is widely recognised as extreme in its New Public Financial Management reforms. Scrutiny of the reformed financial management system reveals its consistency with a controversial political agenda: trade liberalisation of even core social services such as social welfare, health and education. Further, the detailed requirements are systematically biased towards withdrawing from government services (by running them down) and/or privatising them (by artificially inflating reported costs, thus projecting an appearance of inefficiency). The legislation underpinning the New Zealand model was shepherded through parliament by a Minister of Finance who publicly opposed exposing social services to market forces. Drawing on archival records, this article provides a historical account of how this legislation came into being. The legislation handed key levers of power to extend the reforms to the Treasury. Particular attention is paid to the friction within the government of the time over extending the reforms to social policy, and the role of the Treasury. Possibly, some ministers who drove the reforms through did not appreciate their nature. Alternatively, the handover of the levers of power could be perceived as an attempt to avoid blame.

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Envisioning a New Accountability
Type: Book
ISBN: 978-0-7623-1462-1

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Article
Publication date: 1 December 2005

Ann Rippin

This paper aims to explore the gendered narratives of change management at Marks and Spencer (M&S) and uses them as a lens to consider the gendered nature of the change…

Abstract

Purpose

This paper aims to explore the gendered narratives of change management at Marks and Spencer (M&S) and uses them as a lens to consider the gendered nature of the change process itself.

Design/methodology/approach

Two extant stories: Sleeping Beauty and the Trojan War are taken, along with the cultural archetype of the American West gunslinger to explore the gender aspects of change. The Marks and Spencer case is analysed using the corollary patriarchal narrative of Sleeping Beauty, a story whose organising logic is revealed as one of concern for patriarchal lineage, and legitimate succession. The paper, draws on the Marks and Spencer principals' memoirs and biographies.

Findings

Sleeping Beauty is shown as a narrative saturated in misogyny, aggression and violence. This violence, which is shown to characterise the Marks and Spencer case, is amplified in the second narrative, the Trojan War, in the highly personalised battles of the über‐warriors of The Iliad. The paper concludes that violent, hyper‐masculine behaviour creates and maintains a destructive cycle of leadership lionisation and failure at the company which precludes a more feminine and possibly more effective construction of change management.

Originality/value

Demonstrates how M&S, gendered from its birth, its development through the golden years, the crisis, its changes in leadership and its recent change management has attempted to respond to its changing environment.

Details

Journal of Organizational Change Management, vol. 18 no. 6
Type: Research Article
ISSN: 0953-4814

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Article
Publication date: 1 April 1912

WHILE there is no doubt that the system of issuing books at “net” prices is of great benefit to booksellers, there is also no doubt that, unless care is taken, it is a…

Abstract

WHILE there is no doubt that the system of issuing books at “net” prices is of great benefit to booksellers, there is also no doubt that, unless care is taken, it is a serious drain upon a limited book‐purchasing income. A few years ago the position had become so serious that conferences were held with a view to securing the exemption of Public Libraries from the “net” price. The attempt, as was perhaps to be expected, failed. Since that time, the system has been growing until, at the present time, practically every non‐fictional book worth buying is issued at a “net price.”

Details

New Library World, vol. 14 no. 10
Type: Research Article
ISSN: 0307-4803

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Book part
Publication date: 27 June 2014

Andrew H. Chen, James A. Conover and John W. Kensinger

Analysis of Information Options offers new tools for evaluating investments in research, mineral exploration, logistics, energy transmission, and other information…

Abstract

Analysis of Information Options offers new tools for evaluating investments in research, mineral exploration, logistics, energy transmission, and other information operations. With Information Options, the underlying assets are information assets and the rules governing exercise are based on the realities of the information realm (infosphere). Information Options can be modeled as options to “purchase” information assets by paying the cost of the information operations involved. Information Options arise at several stages of value creation. The initial stage involves observation of physical phenomena with accompanying data capture. The next refinement is to organize the data into structured databases. Then bits of information are selected from storage and synthesized into an information product (such as a management report). Next, the information product is presented to the user via an efficient interface that does not require the user to be a field expert. Information Options are similar in concept to real options but substantially different in their details, since real options have physical objects as the underlying assets and the rules governing exercise are based on the realities of the physical world. Also, while exercising a financial option typically kills the option, Information Options may include multiple exercises. Information Options may involve high volatility or jump processes as well, further enhancing their value. This chapter extends several important real option applications into the information realm, including jump process models and models for valuing options to synthesize any of n information items into any of m output assets.

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Article
Publication date: 1 April 1980

Danica Ognjenovic

Wood Green “Shopping City” is hardly the most attractive development Europe has ever seen — the heavy, red‐brick, municipal feel of the place doesn't merit the warm and…

Abstract

Wood Green “Shopping City” is hardly the most attractive development Europe has ever seen — the heavy, red‐brick, municipal feel of the place doesn't merit the warm and exciting catch‐phrases which the publicists have dreamed up for it. However, as an integrated urban development it figured prominently in the International Council of Shopping Centres' 5th Annual European Conference, where it was used as a case study for a panel session. As far as general information goes, there are still 14 units on the market, and standard shops are letting for between £20,000‐£30,000 in Phase II. The centre is mainly for comparison shopping, although there is a bid to increase food representation in certain areas, and there are restaurant facilities within the development itself. Wood Green was designed to be a major focus for shopping in North London and to cater for a projected catchment area of some 3–4 million people. The last attendance figures available for the “Shopping City” (which were taken in late April when a number of shops now open were not trading) show Saturday to be the peak day, when a total of 50,000 people used the centre. Phase I was started in 1973, and sits on the east side of Wood Green high road. Phase II, on the west side, began construction in 1976, and the major stores of D H Evans and C&A are trading now. Phases I and II are linked by a bridge across the high street at first floor level. Called the Gallery, units on this bridge will be leased to specialist up‐market shops, and this area is singled out for high pedestrian flow. What distinguishes Wood Green is the major housing development on the upper levels of Shopping City. This is due for completion in 1981 and will provide 201 flats for over 500 people. The dwellings are for one, two or five persons, and overlook a central landscaped court, inside which is a children's creche. In February 1979 a Market Hall was opened which gives 54,000 sq ft to 72 traders, many of whom have installed themselves there now that their old sites have been replaced by Shopping City. Another feature which has been made much of by the developers is Citysquare, “a place where shoppers and advertisers will meet.” A metal frame has been suspended from the ceiling of Citysquare and it is planned to take in “advertising, news and entertainment facilities with dramatic sound and vision.” Below this structure, it is hoped that national and local advertisers will put on show their products and services. It must also be noted that there is provision for 1,500 car parking spaces, and 25,000 sq ft of offices. It is also felt that because the car park is located directly over the shopping centre, it encourages pedestrian flow through the first floor level of the development. The other way in which customer circulation is encouraged is via the Gallery across the high road and because there are main traders at each end, on both floors. The development is a joint enterprise between the Haringey Council and Electricity Supply Nominees Ltd, builders are John Laing Ltd, architects are Sheppard Robson, and Development Consultants, Letting and managing agents are Richard Ellis, London. The following report outlines major areas of interest discussed at the conference. The panel speakers were: Richard Young of Sheppard Robson, London, who were the architects for Wood Green; Nigel Woolner of Chapman Taylor Associates, who have Eldon Square in their portfolio and who are involved in the West One development in Oxford Street; Rex Mercer of Drivers Jonas, which acted on behalf of the London Borough of Haringey for the Wood Green development; and Derek Nunn of Bungey, Nunn & Stock, marketing advisers, who also contributed to Wood Green. Roger Lucas of Richard Ellis chaired the panel.

Details

Retail and Distribution Management, vol. 8 no. 4
Type: Research Article
ISSN: 0307-2363

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Book part
Publication date: 12 November 2014

Camille Cornand and Frank Heinemann

In this article, we survey experiments that are directly related to monetary policy and central banking. We argue that experiments can also be used as a tool for central…

Abstract

In this article, we survey experiments that are directly related to monetary policy and central banking. We argue that experiments can also be used as a tool for central bankers for bench testing policy measures or rules. We distinguish experiments that analyze the reasons for non-neutrality of monetary policy, experiments in which subjects play the role of central bankers, experiments that analyze the role of central bank communication and its implications, experiments on the optimal implementation of monetary policy, and experiments relevant for monetary policy responses to financial crises. Finally, we mention open issues and raise new avenues for future research.

Details

Experiments in Macroeconomics
Type: Book
ISBN: 978-1-78441-195-4

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