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Securitisation, unitisation and PINCS are all, in essence, very simple. They share a common objective of creating a market instrument which gives investors a return which…
Securitisation, unitisation and PINCS are all, in essence, very simple. They share a common objective of creating a market instrument which gives investors a return which is comparable to holding a direct interest in the freehold of a property at a fraction of the price. The only recent public transaction of this type to have proceeded is Billingsgate City Securities plc, which was a corporate securitisation. This paper analyses, by way of case study, a corporate securitisation involving the public issue of debt securities and preferred ordinary shares. The discussion is intended to stimulate thought about the problems that arise (and will tend to arise in any securitisation, unitisation or PINCS scheme), to suggest solutions and to demonstrate the flexibility of corporate securitisations. It should become apparent that the complexity of any particular structure is largely a function of the sophistication of the specific objectives of the property owner. It is the author's belief that the fact that the problem solving techniques used in a corporate securitisation are familiar (even though in a different context), makes corporate securitisations robust as well as flexible.
ELEVEN YEARS have passed, we were reminded at the Hague Congress last month, since a handful of people met a few kilometres away and agreed to bring together all concerned with work study through the medium of a European Federation. The tenth assembly of that body gave at least one member of that original group an opportunity to consider the present position.
ANY system based on a standard unit capable of being divided by tenths or hundredths for any lesser value enormously simplifies calculations and through a saving of time and labour reduces costs. It is therefore a matter for satisfaction that this country, laggard as usual, will within a matter of days fall into step with other industrial nations. Indeed, as the official guide to the decimal system points out, almost every country in the world uses it. So Britain at last joins the great majority.
Investigates “cruising” (how homosexual men move around to various meeting sites), and how men keep this from intruding into their “normal” lives. Highlights how Laud…
Investigates “cruising” (how homosexual men move around to various meeting sites), and how men keep this from intruding into their “normal” lives. Highlights how Laud Humphreys researched this phenomenon through, initially, observing 12 “tearoom” regulars, while acting as a lookout. Herein the author primarily observed a highway rest area, but also urban parks, tearooms and commercial sex clubs – interviewing 19 regulars. Gives more specific details in the article. Concludes that cruising sites are not constant and uniform.
Media power plays a role in determining which news is told, who is listened to and how subject matter is treated, resulting in some stories being reported in depth while…
Media power plays a role in determining which news is told, who is listened to and how subject matter is treated, resulting in some stories being reported in depth while others remain cursory and opaque. This chapter examines how domestic violence and abuse (DVA) is reported in mainstream and social media encompassing newspapers, television and digital platforms. In the United Kingdom, newspapers have freedom to convey particular views on subjects such as DVA as, unlike radio and television broadcasting, they are not required to be impartial (Reeves, 2015).
The gendered way DVA is represented in the UK media has been a long-standing concern. Previous research into newspaper representations of DVA, including our own (Lloyd & Ramon, 2017), found evidence of victim blaming and sexualising violence against women. This current study assesses whether there is continuity with earlier research regarding how victims of DVA, predominantly women, are portrayed as provoking their own abuse and, in cases of femicide, their characters denigrated by some in the media with impunity (Soothill & Walby, 1991). The chapter examines how certain narratives on DVA are constructed and privileged in sections of the media while others are marginalised or silenced. With the rise in digital media, the chapter analyses the changing patterns of news media consumption in the UK and how social media users are responding to DVA cases reported in the news. Through discourse analysis of language and images, the potential messages projected to media consumers are considered, together with consumer dialogue and interaction articulated via online and social media platforms.
This paper reviews the changing nature of construction design and the potential for e‐procurement to respond to these changes. With the emphasis shifting from…
This paper reviews the changing nature of construction design and the potential for e‐procurement to respond to these changes. With the emphasis shifting from supply‐driven to demand‐driven product design the trading relationships within the industry must become more complex. This paper hypothesizes an electronic market in design and supply capability to exploit distributed design knowledge within the supply chain. In their current form, e‐commerce and brokering systems are too immature to support such relationships, but many elements of a technical solution are available. However, how they will reshape working practices is uncertain and this poses architectural and human organization problems for information systems (IS) developers. They must anticipate and address changes in working practices across a whole group of industries competing within a complex market place. We postulate a development approach that uses simulation models supported by soft systems methods to explore these process re‐engineering options and human issues. The simulation of new business processes, combined with prototype IS designs, offers a powerful mechanism for evaluating the effects of proposed architectures for “design transactions” in e‐procurement. The open learning that occurs in simulation experiments is also a key element in helping the management of the individual organizations in understanding how to shape their particular contribution to the new collaborative process. A major barrier to enhancing construction industry performance in this way is the defensive nature of existing contracts and lack of trust between parties; we therefore propose the use of COLA process in parallel with the simulation work to engender trust and improved working relationships between the collaborating organizations.
The purpose of this paper is to examine the origins and development of the “Accounting, Auditing & Accountability Journal (AAAJ) Community”, a flourishing international…
The purpose of this paper is to examine the origins and development of the “Accounting, Auditing & Accountability Journal (AAAJ) Community”, a flourishing international interdisciplinary accounting research community. This scholarly community has emerged over some 30 years from the publication in 1988 of the inaugural issue of AAAJ under the joint editorship of James Guthrie and Lee Parker. This historical account discusses the motivation for establishing the journal and the important publishing initiatives, developments and trends across this period. The study positions the journal as a key thought leader, the catalyst for other Community activities such as the Asia-Pacific Interdisciplinary Research in Accounting conference.
The investigation involved a selective review of the contents of AAAJ, particularly the annual editorials published since inception, and other relevant literature, analysis of the main research themes and the most cited papers, and oral history interviews with the joint editors. The future prospects for the AAAJ Community are addressed.
The AAAJ Community has shaped and led developments in interdisciplinary accounting research. Recognised for innovation and with a reputation for nurturing scholars, AAAJ continues to grow in stature as one of the world’s leading accounting journals, challenging the status quo and fostering inclusive scholarship.
The study does not examine the journal’s publication patterns nor assess in detail the research studies that have been published in the journal.
The study recognises AAAJ as central to the development of an interdisciplinary accounting research community, firmly located in the sociological, critical and interpretative tradition also associated with some other leading accounting journals.
The purpose of this research is to identify the core values and key success factors in strategic sourcing; and to examine the importance of strategic sourcing and the key…
The purpose of this research is to identify the core values and key success factors in strategic sourcing; and to examine the importance of strategic sourcing and the key success factors in the Hong Kong toy industry. In addition, the relationship between the implementation of the key factors and sourcing performance in the Hong Kong toy industry are investigated.
The empirical research is based on a questionnaire survey that collected data from 205 Hong Kong toy companies. The survey investigated the degree of importance of key success strategic sourcing factors and the extent of implementation of the key factors in the companies. Furthermore, the sourcing performance of the companies was measured to investigate its relationship with the implementation of the key factors.
The research identifies five core values and 14 key success factors in strategic sourcing through literature reviews. The survey findings indicate that the identified key success factors are important and positively related to the sourcing performance. Moreover, the results show that the implementation of strategic sourcing in the Hong Kong toy industry is lagging behind the degree of importance of strategic sourcing.
Since there is a gap between the implementation and importance of strategic sourcing, there is room for the Hong Kong toy industry to improve sourcing performance by addressing the 14 key success factors.
The paper identifies the key success strategic sourcing factors to improve sourcing performance in the Hong Kong toy industry.