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1 – 10 of 95
Article
Publication date: 1 April 1988

Amir Jassim, Carolyn R. Dexter and Aman Sidhu

This paper reviews and analyzes the literature on agency theory in terms of the nature of the problem and its implications for management. Finance theory posits that the goal of…

2672

Abstract

This paper reviews and analyzes the literature on agency theory in terms of the nature of the problem and its implications for management. Finance theory posits that the goal of economic organizations is to maximize stockholders' wealth. Attaining this goal was not an issue when owners were also managers. But since World War II corporate ownership world‐wide has become increasingly diffused. By 1969 only 15% of the largest U.S. non‐financial institutions were owned by their managers. This change raises the issue of the relationships between owners and managers. To what extent do managers act on their own behalf rather than the owners as prescribed by finance theory? Several studies indicate that managers substitute their own interests in place of the shareholders. This is possible because managers possess more information about the firm, control the election procedure to the Board of Directors, and the shareholders are widely dispersed. This phenomenon is called an agency problem. According to Jensen and Meckling an “agency problem” exists when managers own less than 100% of the firm. With less than 100 per cent ownership, managers can shift part of the cost associated with decisions made in their own interest. Clearly these conditions are common in major corporations of the world where global markets require raising large amounts of capital for the research, development, and production facilities required to remain competitive.

Details

Managerial Finance, vol. 14 no. 4
Type: Research Article
ISSN: 0307-4358

Article
Publication date: 1 January 1993

Hazel J. Johnson

This study analyzes the variability of rates of return for 11,772 U.S. commercial banks from 1979 through 1985. The objective is to determine whether variability that is not…

Abstract

This study analyzes the variability of rates of return for 11,772 U.S. commercial banks from 1979 through 1985. The objective is to determine whether variability that is not explained by exogenous variables can be explained by prospect theory. Below target, strong correlations are shown, consistent with prospect theory. When regression analysis is applied, the results are confirmed.

Details

Studies in Economics and Finance, vol. 14 no. 2
Type: Research Article
ISSN: 1086-7376

Article
Publication date: 1 January 1988

Joseph P. Grunenwald and Thomas T. Vernon

High‐technology markets are characterized by rapid evolution that alters the emphasis existing in some traditional marketing decisions. This article examines the nature of these…

Abstract

High‐technology markets are characterized by rapid evolution that alters the emphasis existing in some traditional marketing decisions. This article examines the nature of these markets and suggests certain factors for special consideration in the pricing decision. First, it relates the economic, technological, and competitive factors that affect the firm's objectives. Then, it examines these factors and offers alternative strategies in view of high‐technology dynamics.

Details

Journal of Business & Industrial Marketing, vol. 3 no. 1
Type: Research Article
ISSN: 0885-8624

Article
Publication date: 1 January 1990

Milton Leontiades

Professor Milton Leontiades teasingly reminds us of Thomas Huxley's quip about tragedy in science being the slaying of a beautiful hypothesis by an ugly fact. One of the favorite…

Abstract

Professor Milton Leontiades teasingly reminds us of Thomas Huxley's quip about tragedy in science being the slaying of a beautiful hypothesis by an ugly fact. One of the favorite beautiful hypotheses of business and economics is that diversification—especially unrelated diversification—is bad. Specialization, on the other hand, is supposed to be good. For a list of arguments that could shake your blind adherence to this theory, see box, “Six Myths About Diversification” (Page 29). Professor Leontiades makes a strong case for nonspecialized diversification. If the thought of maneuvering your firm away from its core activity sounds like heresy, read on. He even provides you with guidelines for committing diversification heresy the tight way. Didn't we learn in the 70s and 80s that it was disastrous to stray from your core business? Here's the contrarian argument from Myth Management: An Examination of Corporate Diversification as Fact and Theory.

Details

Planning Review, vol. 18 no. 1
Type: Research Article
ISSN: 0094-064X

Article
Publication date: 1 May 1983

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of…

16237

Abstract

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.

Details

Management Decision, vol. 21 no. 5
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 3 April 2018

Roger Tourangeau

This paper aims to examine the cognitive processes involved in answering survey questions. It also briefly discusses how the cognitive viewpoint has been challenged by other…

1207

Abstract

Purpose

This paper aims to examine the cognitive processes involved in answering survey questions. It also briefly discusses how the cognitive viewpoint has been challenged by other approaches (such as conversational analysis).

Design/methodology/approach

The paper reviews the major components of the response process and summarizes work examining how each of these components can contribute to measurement errors in surveys.

Findings

The Cognitive Aspects of Survey Methodology (CASM) model of the survey response process is still generating useful research, but both the satisficing model and the conversational approach provide useful supplements, emphasizing motivational and social sources of error neglected in the CASM approach.

Originality/value

The paper provides an introduction to the cognitive processes underlying survey responses and how these processes can explain why survey responses may be inaccurate.

Details

Quality Assurance in Education, vol. 26 no. 2
Type: Research Article
ISSN: 0968-4883

Keywords

Article
Publication date: 1 March 1993

Diane Schmidt

There is a great deal of interest in the environment these days, and while much of that interest focuses on saving the world, a lot of it relates to learning about nature. Field…

Abstract

There is a great deal of interest in the environment these days, and while much of that interest focuses on saving the world, a lot of it relates to learning about nature. Field guides are among the most popular natural history guides for the general public; it sometimes seems that almost every household must have at least one lurking in a corner. There are an incredible variety of field guides available for inquiring naturalists. The well‐known Peterson, Golden, and Audubon series and the typical bird, flower, and tree guides are just the tip of the iceberg.

Details

Reference Services Review, vol. 21 no. 3
Type: Research Article
ISSN: 0090-7324

Article
Publication date: 1 February 1985

Robert Dugan

Algermissen, Virginia, Penny Billings, Sandra Grace, Barbara Guidry, and John Blair. “Subminute Telefacsimile for ILL Document Delivery.” Information Technology and Libraries, I…

Abstract

Algermissen, Virginia, Penny Billings, Sandra Grace, Barbara Guidry, and John Blair. “Subminute Telefacsimile for ILL Document Delivery.” Information Technology and Libraries, I (Sept., 1982), 274–5.

Details

Collection Building, vol. 6 no. 4
Type: Research Article
ISSN: 0160-4953

Article
Publication date: 31 May 2006

Berkley D. Sells

Internet defamation litigation is not the same as traditional libel litigation. Unique challenges facing plaintiffs seeking a remedy for destroyed goodwill of a business or damage…

Abstract

Internet defamation litigation is not the same as traditional libel litigation. Unique challenges facing plaintiffs seeking a remedy for destroyed goodwill of a business or damage to reputation include: anonymity of the author responsible for the defamation, cost of successfully tracking down the defendant and jurisdiction issues. This article considers certain legal issues raised by these unique problems and the efficacy of solutions offered in countries such as the United States, Canada, the United Kingdom and Australia.

Details

Journal of International Trade Law and Policy, vol. 5 no. 1
Type: Research Article
ISSN: 1477-0024

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Article
Publication date: 1 May 2001

Graham J. Treloar, Ceridwen Owen and Roger Fay

Present concerns for sustainable development have led to a revival of traditional building practices using natural or recycled resources. There is a perception that buildings…

3351

Abstract

Present concerns for sustainable development have led to a revival of traditional building practices using natural or recycled resources. There is a perception that buildings constructed from such materials are environmentally benign. This perception is questionable, as often no evaluation is undertaken to assess the associated environmental impacts. Rammed earth is one such construction technology that has seen renewed interest in recent years. The energy required to manufacture materials (i.e. embodied energy) is a significant component of the life cycle energy associated with buildings. This paper assesses the embodied energy of rammed earth construction relative to brick veneer and cavity brick construction. Rammed earth was found to have significantly less embodied energy than cavity brick construction (to which it is closer in thermal performance), but was approximately equivalent to brick veneer construction. Topics of further research identified include thermal performance and strategies for reducing the embodied energy of cement used for earth stabilisation.

Details

Structural Survey, vol. 19 no. 2
Type: Research Article
ISSN: 0263-080X

Keywords

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