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Book part
Publication date: 22 May 2013

Ralf W. Schlosser, Parimala Raghavendra and Jeff Sigafoos

Systematic reviews – that is, research reviews that are rigorous and follow scientific methods – are increasingly important for assisting stakeholders in implementing…

Abstract

Systematic reviews – that is, research reviews that are rigorous and follow scientific methods – are increasingly important for assisting stakeholders in implementing evidence-based decision making for children and adults with disabilities. Yet, systematic reviews vary greatly in quality and are therefore not a panacea. Distinguishing “good” reviews from “bad” reviews requires time and skills related to the appraisal of systematic reviews. The purpose of this chapter is to inform stakeholders (i.e., practitioners, administrators, policy makers) of evidence-based information sources that provide synopses (i.e., appraisals) of systematic reviews, to provide guidance in reading and interpreting the synopses of various sources, and to propose how to make sense of multiple synopses from different sources for the same systematic review. A secondary purpose of this chapter is to illustrate how stakeholders can conduct their own appraisals if synopses are not available.

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Evidence-Based Practices
Type: Book
ISBN: 978-1-78190-429-9

Book part
Publication date: 30 September 2003

John T Reisch, Karen S McKenzie and Alan H Friedberg

This paper investigates state auditors’ decisions regarding the isolation or projection of sample misstatements to underlying sample populations. Seventy-eight state…

Abstract

This paper investigates state auditors’ decisions regarding the isolation or projection of sample misstatements to underlying sample populations. Seventy-eight state auditors completed four treatment cases that incorporate the complete 2×2 manipulation of intentional/unintentional and systematic/non-systematic misstatements in different case scenarios, enabling a test of the independent variables both across and within case scenarios.

The results indicate that both across and within case scenarios, auditors tend to project systematic misstatements more often than they project non-systematic misstatements. However, the auditors’ isolation/projection decisions are generally not influenced by whether the sample misstatements are intentional or unintentional.

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Advances in Accounting Behavioral Research
Type: Book
ISBN: 978-1-84950-231-3

Book part
Publication date: 24 October 2019

Lalit Arora, Shailendra Kumar and Piyush Verma

Today, firm performance must be measured not only on traditional metrics but also on those that reflect the changing imperatives and new metric knowledge. Thus, the focus…

Abstract

Today, firm performance must be measured not only on traditional metrics but also on those that reflect the changing imperatives and new metric knowledge. Thus, the focus of managers, investors, and researchers is shifting from rubrics like sales and profitability to growth as a more appropriate measure of firm performance. We aim to highlight the effects that growth of a firm can have on the level of its systematic risk. Using a sample of 203 firms across nine industries taken from the Indian manufacturing sector for a period of 17 years (1998–2014), we develop and test a panel vector autoregressive (VAR) model to analyze the causal relationship between growth aspects and systematic risk of firms. Results depict that a growth option available to firms increase their level of systematic risk and the risk decreases when firms start chasing this growth by increasing their assets in place. Sustainable growth rate, which depicts the growth potential of firms, plays an important role in reducing the level of systematic risk. The findings of this chapter are relevant to managers who think that growth is always beneficial.

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Essays in Financial Economics
Type: Book
ISBN: 978-1-78973-390-7

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Book part
Publication date: 13 April 2022

Bernhard F. Bichler, Tanja Petry, Andreas Kallmuenzer and Mike Peters

This chapter provides a roadmap for a systematic literature review built around the guiding questions of basic research design. First, we highlight the relevance and…

Abstract

This chapter provides a roadmap for a systematic literature review built around the guiding questions of basic research design. First, we highlight the relevance and development of systematic literature reviews in tourism research. Second, we put the systematic review into perspective by outlining its characteristics and by clarifying the methodological assumptions. Third, we bring together recommendations based on previous research and review guidelines and present a step-by-step tutorial for a systematic literature review. From this chapter, readers will understand the foundations of systematic literature reviews, will be able to apply the methodology to their review projects and are introduced to further readings and best practice examples.

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Contemporary Research Methods in Hospitality and Tourism
Type: Book
ISBN: 978-1-80117-546-3

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Article
Publication date: 4 August 2022

Charlotte Clarke, Stephen Kellett and Nigel Beail

This paper aims to assess the quality of systematic reviews on the effectiveness of psychological therapy for adults with intellectual disabilities (ID) and mental health…

Abstract

Purpose

This paper aims to assess the quality of systematic reviews on the effectiveness of psychological therapy for adults with intellectual disabilities (ID) and mental health difficulties.

Design/methodology/approach

Four electronic databases were used: Cochrane, PsycINFO, PubMed and Scopus. Studies were included if they were a systematic review focused primarily on psychological therapy for adults with ID and mental health difficulties. Systematic reviews focused on anger were also considered for inclusion. These reviews were rated for quality on the Amstar-2, a quality rating tool designed to evaluate systematic reviews.

Findings

Twelve relevant systematic reviews were identified, which included seven reviews focused primarily on cognitive behavioural therapy, two on psychodynamic therapy and three on third-wave therapies. The AMSTAR-2 indicated that all 12 reviews were of “critically low” quality. Thus, there are significant problems with the evidence base.

Originality/value

To the best of the authors’ knowledge, this is the first systematic review of systematic reviews of the effectiveness of psychological therapies for people who have ID. It provides an overview of the quality of the evidence base into one place.

Details

Advances in Mental Health and Intellectual Disabilities, vol. 16 no. 3
Type: Research Article
ISSN: 2044-1282

Keywords

Content available
Article
Publication date: 4 January 2022

Gregor Dorfleitner and Johannes Grebler

This paper aims to close gaps in the current literature according to whether there are differences regarding the relationship between corporate social performance (CSP…

Abstract

Purpose

This paper aims to close gaps in the current literature according to whether there are differences regarding the relationship between corporate social performance (CSP) and systematic risk when diverse regions of the world are considered, and what the respective drivers for this relationship are. Furthermore, it tests the robustness to alternative measures for CSP and systematic risk.

Design/methodology/approach

This study focuses on the impact of corporate social responsibility on systematic firm risk in an international sample. The authors measure CSP emerging from a company's social responsibility efforts by utilizing a CSP rating framework that covers a variety of dimensions. The instrumental variable approach is applied to mitigate endogeneity and identify causal relationships.

Findings

The impact of overall CSP on systematic risk is most distinct for North American firms and, in descending order, weaker in Europe, Asia–Pacific and Japan. Risk mitigation applies across all four regions. However, the magnitude of impact differs. While the most critical drivers in North America and Japan include product responsibility, Europe is affected most by the employees category and Asia–Pacific by environmental innovation.

Practical implications

The findings help firms to control their cost of equity and investors may identify low-risk stocks by considering certain aspects of CSP.

Originality/value

This study distinguishes itself from previous literature addressing the connection between systematic risk and CSP by focusing on regional differences in an international sample, using the very transparent CSP measures of Asset4, identifying underlying impact drivers, and testing for robustness to alternative measures of systematic risk.

Details

The Journal of Risk Finance, vol. 23 no. 1
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 27 September 2021

Stephen Gray, Jason Hall, Grant Pollard and Damien Cannavan

In the context of public-private partnerships (PPPs), it has been argued that the standard valuation framework produces a paradox whereby government appears to be made…

Abstract

Purpose

In the context of public-private partnerships (PPPs), it has been argued that the standard valuation framework produces a paradox whereby government appears to be made better off by taking on more systematic risk. This has led to a range of approaches being applied in practice, none of which are consistent with the standard valuation approach. The purpose of this paper is to demonstrate that these approaches are flawed and unnecessary.

Design/methodology/approach

The authors step through the proposed alternative valuation approaches and demonstrate their inconsistencies and illogical outcomes, using theory, logic and mathematical proof.

Findings

In this paper, the authors demonstrate that the proposed (alternative) approaches suffer from internal inconsistencies and produce illogical outcomes in some cases. The authors also show that there is no problem with the current accepted theory and that the apparent paradox is not the result of a deficiency in the current theory but is rather caused by its misapplication in practice. In particular, the authors show that the systematic risk of cash flows is frequently mis-estimated, and the correction of this error solves the apparent paradox.

Practical implications

Over the past 20 years, PPP activity around the globe amounts to many billions of dollars. Decisions on major infrastructure funding are of enormous social and economic importance.

Originality/value

To the best of the authors’ knowledge, this study is the first to demonstrate the flaws and internal inconsistencies with proposed valuation framework alternatives for the purposes of evaluating PPPs.

Details

Accounting Research Journal, vol. 34 no. 6
Type: Research Article
ISSN: 1030-9616

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Article
Publication date: 11 July 2008

Chyi Lin Lee, Jon Robinson and Richard Reed

This paper aims to identify and examine the determinants of downside systematic risk in Australian listed property trusts (LPTs).

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Abstract

Purpose

This paper aims to identify and examine the determinants of downside systematic risk in Australian listed property trusts (LPTs).

Design/methodology/approach

Capital asset pricing model (CAPM) and lower partial moment‐CAPM (LPM‐CAPM) are employed to compute both systematic risk and downside systematic risk. The methodology of Patel and Olsen and Chaudhry et al. is adopted to examine the determinants of systematic risk and downside systematic risk.

Findings

The results confirm that systematic risk and downside systematic risk can be individually identified. There is little evidence to support the existence of linkages between systematic risk in Australian LPTs and financial/management structure determinants. On the other hand, downside systematic risk is directly related to the leverage/management structure of a LPT. The results are also robust after controlling for the LPTs' investment characteristics and varying target rates of return.

Practical implications

Investors and real estate analysts should conscious with the higher returns from high leverage and internally managed LPTs. Although there is no evidence that these higher returns are related to higher systematic risk, there could be the compensation for higher downside systematic risk.

Originality/value

This study provides invaluable insights into the management of real estate risk in Australian LPTs with implications for REITs in other countries. Unlike previous studies of systematic risk in REITs or LPTs, this is the first study to assess downside systematic risk and explore the determinants of downside systematic risk in LPTs.

Details

Journal of Property Investment & Finance, vol. 26 no. 4
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 2 August 2011

Glenn Pederson and Nicholas Sakaimbo

The purpose of this paper is to investigate the relationship between loan default and loss given default (LGD) in an agricultural loan portfolio. The analysis employs a…

Abstract

Purpose

The purpose of this paper is to investigate the relationship between loan default and loss given default (LGD) in an agricultural loan portfolio. The analysis employs a simulation model approach to evaluate the role that systematic and non‐systematic risks play in determining the economic capital requirements under different agricultural economic conditions.

Design/methodology/approach

The authors employ the theoretical approach suggested by Miu and Ozdemir to assess the role of LGD in the banking industry. A Monte Carlo simulation model is developed using Excel and calibrated to an agricultural credit association using historical data. The simulation model is used to evaluate the mark‐up to economic capital that is implied by increasing credit risks due to cyclical changes in farm real estate values.

Findings

The paper demonstrates that historical systematic risks due to the correlation between probability of default (PD) and LGD through the business cycle can result in a significant mark‐up in the economic capital required by an agricultural lender. Using historical land price changes as the driver of systematic risk, the authors show that the correlations between changing PD and land values and between the PD and LGD provide evidence of how sensitive credit risk exposure is to these parameters.

Originality/value

This paper is the first application of the Miu and Ozdemir model of systematic risk to an agricultural lending institution. The model approach can be adapted by farm lenders to evaluate their changing economic capital requirements through an economic cycle in agriculture.

Details

Agricultural Finance Review, vol. 71 no. 2
Type: Research Article
ISSN: 0002-1466

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Article
Publication date: 14 August 2018

SoYeon Jung, Michael Dalbor and Seoki Lee

The purpose of this study is twofold: to investigate the relationship between restaurant firms’ internationalization and systematic risk, and to further examine the…

Abstract

Purpose

The purpose of this study is twofold: to investigate the relationship between restaurant firms’ internationalization and systematic risk, and to further examine the relationship between internationalization and systematic risk based on the type of restaurant firm (i.e. limited-service vs full-service restaurants).

Design/methodology/approach

This study analyzes data from US-based publicly traded restaurant firms by estimating systematic risk based on the Carhart four-factor model and by performing a two-way random-effects model.

Findings

Findings support not only the risk-reduction effect of internationalization on systematic risk but also the moderating effect of the role of restaurant type on the relationship between internationalization and systematic risk. More specifically, the risk-reduction effect of internationalization on systematic risk is greater for limited-service than full-service restaurants.

Practical implications

The findings of this study can provide restaurant executives with more confidence in pursuing internationalization as part of their risk management strategy, acknowledging that more international operations could mitigate restaurant firms’ systematic risk. More specifically, limited-service restaurants can more significantly enjoy the risk-reduction benefits by increasing their international operations than full-service restaurants based on the findings of this study. Furthermore, risk-averse investors could consider purchasing shares of limited-service multinational restaurants’ stocks to enjoy more risk-reduction benefits.

Originality/value

By focusing on the restaurant industry with consideration for the restaurant type, this study provides more tailored recommendations for implementing internationalization strategies with regard to risk management.

Details

International Journal of Contemporary Hospitality Management, vol. 30 no. 8
Type: Research Article
ISSN: 0959-6119

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1 – 10 of over 93000