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Article
Publication date: 1 January 2004

Carol Marie Boyer

This study documents the amount of time it takes for Initial Public Offerings (POs) to make the transition from underperformance to meeting or exceeding the return for…

Abstract

This study documents the amount of time it takes for Initial Public Offerings (POs) to make the transition from underperformance to meeting or exceeding the return for firms of similar size. The study looks at yearly holding period lengths of 1 to 10 years. The results of this study show that if purchased on issuance date, IPOs need to be held for over five years in order to make a return equal to the market.

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Managerial Finance, vol. 30 no. 1
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 March 2005

Nancy Meyer-Emerick

Critical theory has rarely articulated an agenda for social change linking theory to practice. This paper provides several examples of “critical theory in practice” and…

Abstract

Critical theory has rarely articulated an agenda for social change linking theory to practice. This paper provides several examples of “critical theory in practice” and focuses specifically on Fay’s Critical Social Science (CSS) model. The methods of conflict transformation are then applied to CSS in order to accomplish two goals. First, political conflicts resulting from decision making can be used to transform both individuals and systems. Second, CSS more adequately accounts for some of the non-rational aspects of human nature, such as our resistance to change, thus improving its catalytic validity as a critical social theory. Together, the processes of CSS and conflict transformation provide a framework for enhancing the potential for citizen governance.

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International Journal of Organization Theory & Behavior, vol. 8 no. 4
Type: Research Article
ISSN: 1093-4537

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Article
Publication date: 1 February 2002

Chandrasekhar Krishnamurti and Pradeep Kumar

Describes the environment for making initial public offerings (IPOs) in India and the process itself; and discusses the applicability of various research explanations for…

Abstract

Describes the environment for making initial public offerings (IPOs) in India and the process itself; and discusses the applicability of various research explanations for underpricing to the Indian Market. Suggests that it will be greater for new firms and issues managed by reputable merchant bankers; and analyses 1992‐1994 data on 386 IPOs to assess their performance. Shows that issues with high risk and/or smaller offer prices are more underpriced; and that returns are strongly correlated with subscription levels. Discusses the underlying reasons for this and the implications for public policy.

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Managerial Finance, vol. 28 no. 2
Type: Research Article
ISSN: 0307-4358

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Case study
Publication date: 20 January 2017

Susan Chaplinsky and Warren Estey

This case explains marketing process for follow-on equity offerings, the direct and indirect costs of issue, and the long-run performance of equity issuers. Students use…

Abstract

This case explains marketing process for follow-on equity offerings, the direct and indirect costs of issue, and the long-run performance of equity issuers. Students use analysts' projections from which to estimate the intrinsic value of the company's share—including the cost savings from the VEBA and financial improvements over the next several years. It is appropriate for use in corporate finance courses covering the topics of capital raising, equity financing, capital structure, costs of financing, funding alternatives, investment banking, and valuation. It presents the classic profile on an equity issuer—a firm whose stock price has risen to new heights in recent months. Will the issue lead to additional value that creates opportunities for shareholders, or is it a sign the firm is overvalued? The case explores the thinking of a prominent investment manager who had accumulated a large stake in Goodyear and who did not see the need for Goodyear to make an equity issue at this time. The company's position was that the high stock would allow it to further strengthen its balance sheet and pursue international growth opportunities. Students are asked to decide what the investor should do with respect to the current offer—buy, sell, or hold.

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Darden Business Publishing Cases, vol. no.
Type: Case Study
ISSN: 2474-7890
Published by: University of Virginia Darden School Foundation

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Book part
Publication date: 16 October 2015

Daniel Ames, Deborah L. Seifert and Jay Rich

In an experimental setting, we investigate the impact of religious social identity on whistle-blowing. We hypothesize and find that individuals are less likely to perceive…

Abstract

In an experimental setting, we investigate the impact of religious social identity on whistle-blowing. We hypothesize and find that individuals are less likely to perceive others in their religious group as being behaving unethically. However, we find that once individuals perceive wrongdoing, they are incrementally more likely to whistle-blow when the perpetrator is a member of their religious group.

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Research on Professional Responsibility and Ethics in Accounting
Type: Book
ISBN: 978-1-78441-666-9

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Book part
Publication date: 31 December 2010

The following is an introductory profile of the fastest growing firms over the three-year period of the study listed by corporate reputation ranking order. The business…

Abstract

The following is an introductory profile of the fastest growing firms over the three-year period of the study listed by corporate reputation ranking order. The business activities in which the firms are engaged are outlined to provide background information for the reader.

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Reputation Building, Website Disclosure and the Case of Intellectual Capital
Type: Book
ISBN: 978-0-85724-506-9

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Article
Publication date: 1 January 1994

Howard Jay Strauss

It's No Use. For the last six years, since I first got involved with CWISs, I've written dozens of CWIS articles, taught CWIS seminars in every imaginable place, and…

Abstract

It's No Use. For the last six years, since I first got involved with CWISs, I've written dozens of CWIS articles, taught CWIS seminars in every imaginable place, and generally have been a CWIS evangelist to anyone who would listen — and to many who would not. And I haven't been alone in spreading the word on how to do CWISs right. Steve Worona, Judy Hallman, Tim McGovern, Dan Updegrove, and Flossie Stavinsky, to name just a few, have been proudly carrying the CWIS banners too. By now you must have heard — probably several times from several people — why you need a CWIS, how to organize one properly, and what pitfalls to avoid in making one available. What more could one possibly hear about CWISs that hasn't been heard many times over?

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Campus-Wide Information Systems, vol. 11 no. 1
Type: Research Article
ISSN: 1065-0741

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Article
Publication date: 1 November 2001

Paul Whysall

Reviews and analyses press coverage of the takeover of the UK chain Asda by the US company Wal‐Mart in the summer of 1999, using extensive international sources. The…

Abstract

Reviews and analyses press coverage of the takeover of the UK chain Asda by the US company Wal‐Mart in the summer of 1999, using extensive international sources. The depictions of both companies and the significance and anticipated outcomes of the deal are discussed. Three metaphors emerge in the coverage of the deal: of romance and interpersonal relationships; and of logic, strategy and cunning; of conflict and confrontation. It is contended that, on the basis of this coverage, it becomes possible to construct several quite different depictions of the deal, suggesting that a number of realities coexist in our interpretations of retail business.

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British Food Journal, vol. 103 no. 10
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 March 2000

Amanda Kirby

The takeover of Asda by US retail giant Wal‐Mart has created a great deal of speculation by business analysts and the media. Wal‐Mart is recognized as the world’s largest…

Abstract

The takeover of Asda by US retail giant Wal‐Mart has created a great deal of speculation by business analysts and the media. Wal‐Mart is recognized as the world’s largest retailer and its move into the UK is creating interest in its future plans for Europe. Some consider that the move will cause a complete realignment of grocery chains across Europe and that the move will be revolutionary. Others consider that the move will simply augment and accelerate current retailing trends but will not completely change the face of supermarket retailing. This issue brings together a variety of viewpoints. First, Paul Whysall reviews and analyses the press coverage. He provides insights into the possible outcomes of the deal. The second piece is an industry insight prepared by Retail Intelligence, which is followed by an overview of the Institute of Grocery Distribution’s research document Wal‐Mart in the UK. Finally, we present a number of abstracts that offer further thoughts on the subject.

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International Journal of Retail & Distribution Management, vol. 28 no. 3
Type: Research Article
ISSN: 0959-0552

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Article
Publication date: 1 February 2001

Jay R. Schrock, Charlie R. Adams, Joel D. Nicholson and Tim H. Dodd

The purpose of this article is to study the export strategies used by the Argentina wine industry. The implementation of export strategies is related to the comparative…

Abstract

The purpose of this article is to study the export strategies used by the Argentina wine industry. The implementation of export strategies is related to the comparative advantages that Argentina has in wine‐making and wine‐exporting. Using the concept of competitive advantage, the authors found that Argentina has benefited from a low cost of production and several other strengths to develop a strong wine industry. To develop further they must minimise their weaknesses and capitalise on current opportunities.

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International Journal of Wine Marketing, vol. 13 no. 2
Type: Research Article
ISSN: 0954-7541

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