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Book part
Publication date: 1 June 2011

Edward J. Sullivan

The notion that asset diversification reduces risk is ancient and can be traced as far back as the Talmud which states, “A man should always keep his wealth in three…

Abstract

The notion that asset diversification reduces risk is ancient and can be traced as far back as the Talmud which states, “A man should always keep his wealth in three forms: one-third in real estate, another in merchandise, and the remainder in liquid assets” (Baba Metzia, verse 42a). Somewhat more recently, in 1738, Daniel Bernoulli observed, “it is advisable to divide goods which are exposed to some small danger into several small portions rather than to risk them all together” (1738/1954, p. 30). Arguably, however, it was not until 1935 that the future Nobel laureate J. R. Hicks offered some early direction for modern portfolio theory. Although his research was more concerned with explaining the demand for money, he points out two important considerations for modeling risk. Hicks writes, “The risk factor comes into our problem in two ways: First, as affecting the expected period of investment, and second, as affecting the expected net yield of investment” (Hicks, 1935, p. 7). Regarding Hicks' first point, both Markowitz (1952) and Roy (1952) emplace their analyses in a one-period investment horizon. Second, and even more relevant to modern portfolio theory, is Hicks' suggestion of using an expected value calculated with subjective probabilities. Hicks continues, “It is convenient to represent these probabilities to oneself, in statistical fashion, by a mean value, and some measure of dispersion” (1935, p. 8). Clearly, Hicks comes very close to articulating a mean–variance solution. Crucially, and unlike Roy or Markowitz, Hicks does not develop this line of reasoning nor does he suggest the particular use of variance or standard deviation as that measure of risk. Nonetheless, Hicks' suggestion anticipates the work of Markowitz and Roy.1

Details

Research in the History of Economic Thought and Methodology
Type: Book
ISBN: 978-1-78052-006-3

Case study
Publication date: 31 March 2014

Anurag K. Agarwal

The case deals with the Supreme Court's decision of August 31, 2012, ordering Sahara to refund Rs. 24,000 crores and interest to SEBI, so as to refund to the real…

Abstract

The case deals with the Supreme Court's decision of August 31, 2012, ordering Sahara to refund Rs. 24,000 crores and interest to SEBI, so as to refund to the real investors. Despite unambiguous orders, Sahara did not comply fully and kept on prolonging the matter using number of pretexts, ultimately resulting in Roy's arrest. The case has been primarily written for easy understanding of facts, principles of corporate governance, and further developments, as mentioned in judgment, which runs into hundreds of pages. It depicts the legal journey of the fight between a company and the financial regulator in the country.

Details

Indian Institute of Management Ahmedabad, vol. no.
Type: Case Study
ISSN: 2633-3260
Published by: Indian Institute of Management Ahmedabad

Keywords

Content available
Book part
Publication date: 30 June 2017

Siddhartha Sankar Saha and Mitrendu Narayan Roy

Abstract

Details

Quality Control Procedure for Statutory Financial Audit
Type: Book
ISBN: 978-1-78714-226-8

Article
Publication date: 11 July 2008

Katherine Clark and Roy West

The purpose of this paper is to present the viewpoint of the hospitality manager of a large amusement park using Menu‐Safe, the new method for HACCP for the Hospitality…

1100

Abstract

Purpose

The purpose of this paper is to present the viewpoint of the hospitality manager of a large amusement park using Menu‐Safe, the new method for HACCP for the Hospitality industry. It is the eighth article in the second Worldwide Hospitality and Tourism Themes issue of the International Journal of Contemporary Hospitality Management presenting a new method of HACCP for the hospitality industry and proof of its utility.

Design/methodology/approach

The manager's viewpoint was obtained during interviews with the lead author.

Findings

The manager describes significant improvements in management efficiency and effectiveness since managing food safety with Menu‐Safe.

Originality/value

The paper identifies positive feedback for the Menu‐Safe system from a practitioner and makes a recommendation that the method of food safety management is used by other businesses in the hospitality sector. It offers a unique viewpoint and practical advice for readers.

Details

International Journal of Contemporary Hospitality Management, vol. 20 no. 5
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 10 May 2021

Nyree J. Taylor, Reeva Lederman, Rachelle Bosua and Marcello La Rosa

Capture, consumption and use of person-centred information presents challenges for hospitals when operating within the scope of limited resources and the push for…

Abstract

Purpose

Capture, consumption and use of person-centred information presents challenges for hospitals when operating within the scope of limited resources and the push for organisational routines and efficiencies. This paper explores these challenges for patients with Acute Coronary Syndrome (ACS) and the examination of information that supports successful hospital discharge. It aims to determine how the likelihood of readmission may be prevented through the capturing of rich, person-specific information during in-patient care to improve the process for discharge to home.

Design/methodology/approach

The authors combine four research data collection and analysis techniques: one, an analysis of the patient record; two, semi-structured longitudinal interviews; three, an analysis of the patient's journey using process mining to provide analytics about the discharge process, and four, a focus group with nurses to validate and confirm our findings.

Findings

The authors’ contribution is to show that information systems which support discharge need to consider models focused on individual patient stressors. The authors find that current discharge information capture does not provide the required person-centred information to support a successful discharge. Data indicate that rich, detailed information about the person acquired through additional nursing assessments are required to complement data provided about the patient's journey in order to support the patients’ post-discharge recovery at home.

Originality/value

Prior research has focused on information collection constrained by pre-determined limitations and barriers of system design. This work has not considered the information provided by multiple sources during the whole patient journey as a mechanism to reshape the discharge process to become more person-centred. Using a novel combination of research techniques and theory, the authors have shown that patient information collected through multiple channels across the patient care journey may significantly extend the quality of patient care beyond hospital discharge. Although not assessed in this study, rich, person-centred discharge information may also decrease the likelihood of patient readmission.

Details

Information Technology & People, vol. 34 no. 6
Type: Research Article
ISSN: 0959-3845

Keywords

Book part
Publication date: 30 September 2021

Miguel Burgess Monroy, Salma Ali, Lobat Asadi, Kimberly Ann Currens, Amin Davoodi, Matthew J. Etchells, Eunhee Park, HyeSeung Lee, Shakiba Razmeh and Erin A. Singer

This chapter presents the lived experience of 10 doctoral students and recent graduates from a North American University, who like graduate students elsewhere, have faced…

Abstract

This chapter presents the lived experience of 10 doctoral students and recent graduates from a North American University, who like graduate students elsewhere, have faced upstream battles against excessive faculty entitlement. The six sections of this chapter, each by different authors, explore how entitlement in the University, is experienced from different perspectives. The first four sections explore the deleterious effects of excessive faculty/teacher entitlement which can lead to competitiveness, selfishness and aggression. Section five focuses on student entitlement as experienced by an immigrant graduate teaching assistant, and section six explores how both faculty and student entitlement may be experienced at different stages of the immigrant experience. It is hoped that this chapter will create a platform with which to highlight these topics for ourselves and other doctoral students attending other universities, so that relationships and opportunities may improve for everyone.

Details

Understanding Excessive Teacher and Faculty Entitlement
Type: Book
ISBN: 978-1-80043-940-5

Keywords

Article
Publication date: 19 September 2016

Apostolos Giovanis

Given its importance in the brand management of service firms, the present research initiative primarily concerns the investigation of the formation process of…

2491

Abstract

Purpose

Given its importance in the brand management of service firms, the present research initiative primarily concerns the investigation of the formation process of consumer-brand relationships in the service industry. By considering a chain of effects’ model, this paper aims to integrate two brand commitment paradigm’s perspectives with service evaluation theory, representing the attitudinal and behavioral aspects of the relationship building process, to better explain the way consumers relate to a service brand. The proposed conceptual model is tested in the context of mobile broadband internet services.

Design/methodology/approach

A survey of 573 customers of mobile internet services was conducted using a structured questionnaire with established scales. Data were analyzed with partial least squares structural equation modeling.

Findings

The results indicated that brand loyalty is determined by relationship commitment, which, in turn, is influenced by the consumer-brand relationship components – trust, satisfaction, investment size and quality of alternatives – as well as by the service brand’s perceived value. Finally, the relationship quality components of the brand, trust and satisfaction to a large extent, and investment size to a lesser extent, mediate the relationships between service brand evaluation and brand commitment.

Research limitations/implications

The sample is industry-specific, and this may affect generalizability of findings. Also, the cross-sectional design adopted does not reflect temporal changes.

Practical implications

From a practical point of view, the findings suggest that providers can improve their loyalty figures through the establishment of strong consumer-brand relationships as a result of the development and delivery of high quality, valuable services and other relationship-building tactics that support the consumer-brand binding.

Originality/value

Although there are previous studies that extend either the relationship investment model or the commitment-trust theory with the service evaluation theory, the proposed model is the first to combine the previous three research streams into one causal chain model, to explain the development and flow of events in the consumer-brand relationship process toward brand loyalty.

Details

Journal of Product & Brand Management, vol. 25 no. 6
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 3 March 2021

Santanu Mandal and Ritesh Kumar Dubey

This study explored the role of inter-organizational systems (IOS) appropriation in the form of five key IOS usage-based capabilities, namely, IOS use for communication…

Abstract

Purpose

This study explored the role of inter-organizational systems (IOS) appropriation in the form of five key IOS usage-based capabilities, namely, IOS use for communication, intelligence, integration, collaboration and coordination in the development of tourism SC agility and resilience. Furthermore, the inter-relationship among these IOS usage-based capabilities were explored.

Design/methodology/approach

The study collected perceptual measures from hotel managers and tour managers having sufficient experience in the tourism sector. With 209 completed responses, the data were analyzed using partial least squares.

Findings

The study found IOS use of communication and intelligence as prominent enablers of IOS use for integration, collaboration and coordination. Furthermore, IOS use for integration, collaboration and coordination was found to have a prominent influence in the development of tourism SC agility and resilience. However, the influence of IOS use for communication on collaboration was not supported. Also, the impact of IOS use for collaboration in tourism resilience development was not supported.

Originality/value

The study is the foremost to explore the role of IOS appropriation in the development of dynamic capabilities like agility and resilience in tourism. Furthermore, the study also contributed to extant literature on IOS appropriation through suggesting two additional factors, namely, IOS use for collaboration and coordination to the existing IOS usage-based capabilities.

Details

Benchmarking: An International Journal, vol. 28 no. 9
Type: Research Article
ISSN: 1463-5771

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Article
Publication date: 12 February 2018

Santanu Roy and Jay Mitra

The authors investigate the relationship between the structure and the functioning of scientific and technical (S&T) personnel and the quality research and development…

Abstract

Purpose

The authors investigate the relationship between the structure and the functioning of scientific and technical (S&T) personnel and the quality research and development (R&D) performance output of laboratories functioning under the Council of Scientific and Industrial Research (CSIR), India. The purpose of this paper is to examine how rapid economic and social changes and the demand for better accountability are addressed by public R&D institutions in a specific developing economy.

Design/methodology/approach

The authors use the functions performed by the S&T personnel as indicators of their tacit knowledge. The authors use data from 27 different CSIR laboratories to analyze the specific functions carried out by knowledge workers (S&T personnel) in order to gauge the internal strengths and weaknesses of individual laboratories in different functional areas. The authors use the following measures to tap the quality R&D performance of these laboratories – number of Indian patents filed and granted, number of foreign patents filed and granted, and the number of published papers figuring among the top 50 CSIR publications in specific research areas over an extended period of 11 years (2003-2004 to 2013-2014).

Findings

The findings show that there is no readymade formula for identifying improvements in quality performance by a research laboratory, given a particular set of S&T worker profile in terms of the six functions defined in the study. The top-performing laboratories have excellent patent as well as publication record reinforcing the point that innovation encompasses both basic and applied research with success depending upon strategically emphasizing the different components of the innovation process.

Research limitations/implications

The scope of the present research work is limited by the choice of the quality R&D performance measures adopted in the study that could be further expanded to better tap the social accountability of these public-funded institutions. In addition, inclusion of all CSIR laboratories in the study framework would add value to the study findings. The research highlights the importance of tacit knowledge management and organizational learning as central features of strategic organization development for technology practices incorporating R&D work, the support of pilot plants, experimental field stations, and engineering and design units.

Practical implications

The paper has particular implications for the leadership and management of public R&D organizations and public policy formulation for innovation in an emerging developing economy context.

Originality/value

This study extends the extant literature by drawing upon the role of tacit knowledge and organizational learning to inform the empirical research on managing public R&D and the innovations that result from it, in a particular emerging economy context, that is, India.

Details

Journal of Organizational Change Management, vol. 31 no. 1
Type: Research Article
ISSN: 0953-4814

Keywords

Article
Publication date: 7 June 2019

Lottie Hoare

The purpose of this paper is to juxtapose different sources concerning educational experiments embarked on by an English primary school teacher, Muriel Pyrah. Pyrah taught…

Abstract

Purpose

The purpose of this paper is to juxtapose different sources concerning educational experiments embarked on by an English primary school teacher, Muriel Pyrah. Pyrah taught at Airedale School, Castleford, Yorkshire, UK, from the 1950s until 1972. Her approach was celebrated in the fields of oracy and arts education in the final years of her working life. Airedale was a Local Education Authority (LEA) school within the West Riding of Yorkshire, an LEA led by Alec Clegg, from 1945 to 1974.

Design/methodology/approach

Using film footage, sound recordings, artwork and topic books produced by her pupils, the paper entangles these archival sources with recent interviews from Pyrah’s former pupils and a former school inspector (HMI). Pyrah’s actual name has been used, as has that of the HMI. The names of pupils who contributed insights are anonymised.

Findings

The former pupils provide accounts that encourage a move away from a revisiting of progressivism that is predominantly anchored in studying the intentions and hopes of high profile educationalists postwar.

Research limitations/implications

The number of former pupils willing to discuss their memories was small, so no claims are made that their perspectives represent the dominant views of former pupils. However, these interviews reveal details that are absent in the other surviving archival sources.

Originality/value

The paper lays the foundation for further research on the voices of former pupils, inviting a focus on the way those participants reflect on the long-term impact of being involved in an educational experiment. Thus far, the representation of Pyrah’s pedagogy has been choreographed in print to build the legacy of the LEA. The pupils’ stories resonate differently.

Details

History of Education Review, vol. 48 no. 1
Type: Research Article
ISSN: 0819-8691

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