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The purpose of this paper is to investigate the role of “soft information” in firms’ debt issue and capital structure choices, and present a new model reconciling the gap between theories of capital structure and empirical findings.

The paper develops an analytical model of debt issues under asymmetric information in a setting where, in addition to observing the amount of debt the firm issues, outside investors obtain “soft information” signals through their own information production or noisy voluntary disclosures made by the firm. This paper analyzes the benefit and cost for the firm's debt issue decisions in this setting, and specifies the effect of soft information on these decisions.

If sufficiently precise soft information is available to outside investors, the firm's debt issue behavior is significantly altered relative to that in existing models. In particular, an inverted‐U shape relationship is found between the intrinsic value of the firm and the amount of debt it issues. Moreover, there is a negative relationship between the amount of debt the firm issues and the precision of soft information. Further, it is found that firms about which outside investors receive more favorable soft information issue less debt.

The model predicts an inverted‐U shape relationship between firms’ debt ratios and operating performance. It also predicts that firms about which outside investors receive more favorable or more precise soft information have lower debt ratios on average. A rationale is provided for the existence of firms’ investor relations departments.

Firms’ capital structure choices remain a topic of significant importance. This paper incorporates the soft informations into firms’ debt issue decisions and proposes a new model of capital structure that generates insights into firms’ financing decisions and disclosure decisions, as well as information production by outside investors.

The purpose of the paper is to explore the initial coin offering (ICO) statements as “soft law” instrument used to regulate disruptive innovations.

The research is based on the qualitative content analysis of 40 ICO statements issued by regulators in 37 countries by applying a custom-made coding table.

The research shows that “soft law” is used predominantly by high-capacity jurisdictions. “Soft law” allows for more flexibility and less technological and business neutrality. The findings also show the contradiction between empirical evidence and public sentiment: it seems that the widespread notion that virtual currencies have connotations with money laundering/financing of terrorism (ML/FT) is not shared by the regulators, who are more concerned by the fraud. Finally, it was found that the standard-setting bodies are lagging behind in providing guidance on the emergence technologies.

The content analysis is based on 40 statements, which is a limited set of data. The method might be subject to interpersonal bias, although arrangements were made to ensure the uniformity of coding process.

The findings imply that soft law is an attractive risk-mitigation tool when the object of regulation is still evolving but the risks are present. Soft law also might contradict with the “technology and business neutrality” principle which requires further research. Finally, the findings show the need for more active involvement of the standard setting bodies.

This is the first in-depth research of the ICO-related statements as “soft law” instruments. It also offers a new perspective on the issue of financial innovations regulation.

The Securities and Exchange Commission (SEC) has defined “soft dollar” practices as arrangements under which products or services, other than execution of securities transactions, are obtained by an investment adviser from or through a broker‐dealer in exchange for the direction by the adviser of client brokerage transactions to the broker‐dealer. In the wake of the mutual fund scandals of 2003, soft dollar practices have come under increased scrutiny by the SEC, the U.S. Congress, and others. This article is based on testimony presented by the Investment Counsel Association of America (ICAA) to the U.S. Senate Committee on Banking, Housing, and Urban Affairs at a hearing on soft dollars held on March 31, 2004. The article outlines the following positions: (1) the SEC should ensure that there is adequate disclosure about soft dollar practices, combined with appropriate inspection and enforcement of regulations governing such practices; (2) the consequences of abolishing soft dollars ‐ an outcome that would require Congressional action ‐ most likely would affect smaller investment advisory firms adversely, create entry barriers for new investment advisory firms, and diminish the quality and availability of proprietary and third‐party research; (3) investment advisers should be required to keep appropriate records relating to soft dollar arrangements and to develop and implement internal controls and procedures designed to ensure that soft dollar arrangements are supervised, controlled, and monitored; and (4) eliminating the use of soft dollars for third‐party research would harm investors, diminish the availability of quality research, provide a regulatory‐driven advantage for full‐service brokerage firms, disadvantage third‐party research providers, and result in less transparency to investors, regulators, and market participants.

This paper explores total quality management (TQM) soft domain efficacy in social care organizations to determine the extent to which an organization's project success may stem from soft TQM critical success factors (CSFs).

Non-structured interviews were conducted with 16 managers overseeing the prosthetic device regeneration project of the Italian local health unit (located in Salerno) to explore which soft factors could contribute to the success of a social care multifunctional organization.

Organizations' handling of certain projects, such as pivoting on soft TQM issues, may allow them to be configured as multiservice organizations. Therefore, a conceptual model of a multiservice social care organization is proposed.

From a managerial perspective, this study presents an interesting success case of a multiservice social care organization with a total annual expenditure of €20 million on prosthetic assistance. Preliminary data show a 13% reduction in public expenditure for Salerno's local health unit via a refurbishment project.

The paper contributes to the soft TQM literature debate: although Italian local health professionals appear aware of soft TQM issues' implementation and consciously apply them in their organization and projects, this occurs more with specific CSFs emerging from the literature. Therefore, this article paves the way for further quantitative and theoretical investigations on the adoption of TQM soft issues in social care organizations' performance measurement.

The purpose of this paper is to introduce the viable system model (VSM) as a valuable tool to the food industry. A sugarcane supply chain was used to evaluate VSM's applicability to the food industry by exploring how VSM can help to understand its complexity.

VSM and qualitative research methods were combined in an interactive manner to produce a VSM diagnosis.

The VSM diagnosis highlighted that while continuity of the system is not at risk, many improvement opportunities exist. For example, the local mill management lacks autonomy, essential operational measurement cannot be realised, coordination is deficient and a vision or identity for the mill area and a joint effort to engage in strategic considerations is missing. Miller-grower fragmentation surfaced as one cause of these shortcomings.

Although VSM revealed shortcomings, it was unable to facilitate interventions for improvement. VSM's capacity in dealing with shortcomings should be strengthened and the merit of VSM in other food-related supply systems should be investigated.

Millers and growers need to become genuine partners and work jointly on the issues that challenge the system to realise the full potential that is embedded in the system.

VSM has not been applied in the sugar industry context and the amount of researches that explore sugarcane supply chains holistically is limited.

The purpose of this research is to identify the current reverse logistics practices adopted by soft drink companies and the prominent factors which can decide the efficiency and effectiveness of the entire process of the reverse logistics channel. The paper employs Pareto analysis and the Analytical Hierarchy Process (AHP) method on data collected from logistics professionals involved in the software industry in Sri Lanka using two questionnaires. As the prominent factors, transportation, accidents, packaging, a method of storage, the cleaning process and sorting process was identified and the first four prominent factors have a higher influence on both measures of efficiency and effectiveness. They can also identify the external factors which can emerge inefficiencies due to outsourced dealers. Lack of previous literature on the subject matter and the difficulty to access the filed data were the main limitations of this study. The identified factors will help to identify the correct root causes for the inefficiencies of the current reverse logistics practices and concentrating on these factors will give an opportunity for the soft drink industry players to successfully implement a sustainable green supply chain which reduces waste at each stage of its forwards and reverse logistics process. Transportation, Accidents, Packaging, and Storage have been previously identified as considerations in reverse logistics processes and the current study showed that they have a higher impact on both efficiency and effectiveness on reverse logistics and these factors should be given specific consideration while in the operations.

This paper examines a new model of production in a developing nation, the Electronics Contract Manufacturing Industry. It explores issues related to manufacturing management, competence building, organisation and implementation of manufacturing best practice. It argues that the understanding of both contextual institutional factors and soft operational issues is crucial for implementing manufacturing practices that support competitiveness building.

This is targeted at the “soft dollar” industry. It explores to difficult “dos” and “don'ts” of compliance policies and procedures. It is a practical “Q&A” discussion of the many gray areas of legal compliance.

Quality is seen as a key strategic differentiator within the financial services sector, with most major players undertaking some form of quality initiative. Discusses work undertaken within TSB Bank plc to determine retail customer perceptions of those factors which determine service quality and whether or not lifestage affects perceptions of quality. Lifestage is considered important because of the potential conflict between the attraction of new customers in one group and retention of existing customers in other groups. Discusses a number of models of service quality and proposes one based on the three dimensions of process/outcome, subjective/objective and soft/hard. Discusses the effect of lifestage on perceptions/requirements in the context of this model and draws conclusions on the effect of lifestage on customer requirements in retail banking.

Quality is increasingly being seen as a key strategic differentiator within the financial services sector in the UK, with most major players undertaking some form of quality initiative. Describes work undertaken within TSB Bank plc to determine both retail customer and staff perceptions of those factors which determine service quality. Initially identifies the models developed by Parasuraman et al. as being the most appropriate for modelling the data, but finds that although the service gap model provides an excellent basis for analysis, the SERVQUAL model is of more limited value. Describes an alternative basis for modelling service quality based on the three dimensions of process/outcome, subjective/objective and soft/hard is described and modelled against the experimental data. Describes some conclusions of significance for retail banking in particular, and service providers in general.