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Article
Publication date: 1 June 1998

Todd Jackson and Doris M. Cook

Problems in accounting for the translation of foreign currencies are as old as money itself, as far back as the ancient Greeks. In the USA these problems have been of…

Abstract

Problems in accounting for the translation of foreign currencies are as old as money itself, as far back as the ancient Greeks. In the USA these problems have been of primary concern in the twentieth century. Interest in accounting for foreign currency translation seems to have varied directly with the instability of exchange. Of particular note is the interest created by the unsettling economic effects of the First World War, Second World War and the Vietnam War. The standard setting bodies of the accounting profession, including the Committee on Accounting Procedures of the 1930s, the Accounting Principles Board which followed, and particularly the current Financial Accounting Standards Board, have devoted significant efforts to the development of accounting principles in this area, culminating in the present FASB Statement No. 52.

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Journal of Management History, vol. 4 no. 2
Type: Research Article
ISSN: 1355-252X

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Case study
Publication date: 20 January 2017

Wendell E. Dunn and Scott Shane

This case describes how eight entrepreneurs discover different opportunities for new businesses to exploit a single technological invention. The case focuses on the…

Abstract

This case describes how eight entrepreneurs discover different opportunities for new businesses to exploit a single technological invention. The case focuses on the process of entrepreneurial discovery and its implications for the creation of new firms. Many of the teaching materials on entrepreneurship assume that entrepreneurs have already discovered an opportunity. While these materials provide useful information about the process of creating new enterprises, they miss the crucial first step in the entrepreneurial process: identifying an opportunity. The case illustrates the theoretical concept of the role of information in the discovery of entrepreneurial opportunities. It can be used in a class on entrepreneurship or management of technology.

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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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Article
Publication date: 23 October 2009

Tony Kai Pong Leung and John Adams

The technology acceptance model (TAM) is robust in predicting user acceptance of internet and communication technology (IT) in various contexts but with limited…

Abstract

Purpose

The technology acceptance model (TAM) is robust in predicting user acceptance of internet and communication technology (IT) in various contexts but with limited explanatory power. This research uses the theory of bureaucracy to test if resistance to change (RTC) is a significant external factor relevant to the TAM in explaining IT acceptance and usage in a government context. This paper aims to address these issues.

Design/methodology/approach

The research employs a survey of 700 randomly selected government employees in Hong Kong. Additional information is gathered from senior management to validate the survey results.

Findings

RTC can improve the explanatory power of TAM. It bridges previous researches' findings in the TAM. The TAM is confirmed applicable in the government context and most of the theoretical relationships hold true. However, the usefulness‐intention direct link is found to be unstable. Hong Kong Government staff as a whole tends to be reluctant to change. Statistical tests show that there are heterogeneous behaviour groups within the organization. Specifically, younger and more educated staff are more willing to change.

Research limitations/implications

The usable sample is relatively small (n=66).

Practical implications

The use of IT relies on the resistance level. System managers should target the younger and more educated users first to build up sufficient user mass and adopt peer pressure for a more successful level of implementation across all staff.

Originality/value

This is the first research to test the TAM in the Hong Kong Government context. It shows that there are deficiencies in TAM and weaknesses in previous TAM research. Also, as RTC is common to all organizations, the findings in this research are valuable to all organizations.

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Journal of Chinese Entrepreneurship, vol. 1 no. 3
Type: Research Article
ISSN: 1756-1396

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Book part
Publication date: 11 December 2006

Wayne Ferson, Darren Kisgen and Tyler Henry

We evaluate the performance of fixed income mutual funds using stochastic discount factors motivated by continuous-time term structure models. Time-aggregation of these…

Abstract

We evaluate the performance of fixed income mutual funds using stochastic discount factors motivated by continuous-time term structure models. Time-aggregation of these models for discrete returns generates new empirical “factors,” and these factors contribute significant explanatory power to the models. We provide a conditional performance evaluation for US fixed income mutual funds, conditioning on a variety of discrete ex-ante characterizations of the states of the economy. During 1985–1999 we find that fixed income funds return less on average than passive benchmarks that do not pay expenses, but not in all economic states. Fixed income funds typically do poorly when short-term interest rates or industrial capacity utilization rates are high, and offer higher returns when quality-related credit spreads are high. We find more heterogeneity across fund styles than across characteristics-based fund groups. Mortgage funds underperform a GNMA index in all economic states. These excess returns are reduced, and typically become insignificant, when we adjust for risk using the models.

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Research in Finance
Type: Book
ISBN: 978-1-84950-441-6

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Article
Publication date: 7 March 2016

Michelle Phillipov

The increasing frequency with which food and beverage producers feature in mainstream media, including television cooking shows, provide opportunities and pitfalls for…

Abstract

Purpose

The increasing frequency with which food and beverage producers feature in mainstream media, including television cooking shows, provide opportunities and pitfalls for using media to promote artisan food and beverage businesses. The purpose of this paper is to evaluate these, as experienced by a group of food and beverage producers who appeared on the popular Australian television show, Gourmet Farmer.

Design/methodology/approach

Findings are based on semi-structured interviews with 14 of the producers featured on the show, plus textual analysis of relevant segments of the show.

Findings

While all of the producers felt that food television offered a good promotional tool, those who were most familiar with the practices of media production and whose businesses offered experiences through which viewers could access (or imagine) a “taste” of the Gourmet Farmer life tended to be more satisfied than those who were less familiar with the practices of media production and who expected a greater focus on their products and production practices.

Practical implications

The development of media skills is essential for artisan producers to get the best outcomes when using media to promote their businesses.

Originality/value

The experiences of food and beverage producers using food television to promote their businesses have not previously been the subject of thoroughgoing research. This paper offers new insights into how artisan producers can best capitalize on the opportunities offered by food media.

Details

British Food Journal, vol. 118 no. 3
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 8 July 2014

Louisa Allen, Kathleen Quinlivan, Clive Aspin, Fida Sanjakdar, Annette Brömdal and Mary Lou Rasmussen

The purpose of this paper is to attempt to theorise difference as encountered by a team of six diverse researchers interested in addressing cultural and religious…

Abstract

Purpose

The purpose of this paper is to attempt to theorise difference as encountered by a team of six diverse researchers interested in addressing cultural and religious diversity in sexuality education. Drawing Todd's (2003, 2011a, b) concepts of “the crossroads”, “becoming present” and “relationality” in conversation with Barad's (2003, 2007, 2012) ideas around relationality and intra-activity, the paper explores how “difference” in team research might be re-conceptualised. The aim is to theorise difference, differently from Other methodological literature around collaborative research. Typically, this work highlights markers of difference based on researcher identity (such as gender and ethnicity) as the source of difference in research teams, and examines how these differences are worked through. The aim of this paper is not to resolve difference, but understand it as occurring in the relational process of researchers becoming present to each other. Difference that is not understood as the product of the individual (Barad, 2012), may engender an orientation to ethical relationality, whereby research teams might hold in tension a conversation between the individual and the collective.

Design/methodology/approach

This paper is philosophical and methodological. It draws on conceptual understandings from feminist educational philosophy and new materialisms. Findings are based on empirical experiences of a team of researchers exploring cultural and religious difference in sexuality education. Its aim is to re-think the ontology of “difference” as conventionally understood in qualitative methodological literature around team research.

Findings

The contribution to conceptualising difference in research teams is to apply Todd's (2011a) theoretical work around “becoming”, “relationality” and the “crossroads” and further delineate it with Barad's (2012) concept of intra-activity. Combining these theorist's ideas the paper offers a conceptualisation of difference that is not the product of individual researcher identities that manifests at the point of collision with (an)other identity. Rather, difference becomes intra-actively in meeting at the crossroads where the “who” is formed. The author argues it is a configuration that cannot be known in advance, and that blurs individuals (and contingent identities) in its uniqueness.

Practical implications

Although conceptual in nature, this paper can be seen as having implications for working with difference in research teams. Drawing on Todd (2003, 2011a) what becomes important in attending to difference in research teams is being openly receptive to the Other. For instance, that the differences of perspective in relation to a research project are not melted into consensus, but that the singularities are always held in relation to each-other.

Originality/value

This paper takes new and emerging ideas in educational philosophy and new materialisms around relationality and applies them to a re-thinking of “difference” in qualitative methodological literature. The result is to offer a new ontology of “difference” as experienced by members of a qualitative research team. It also brings the work of Barad and Todd into conversation for the first time, in order to think ethically about how researchers might work with difference.

Details

Qualitative Research Journal, vol. 14 no. 2
Type: Research Article
ISSN: 1443-9883

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Book part
Publication date: 10 December 2015

Chun Kit Lok

Smart card-based E-payment systems are receiving increasing attention as the number of implementations is witnessed on the rise globally. Understanding of user adoption…

Abstract

Smart card-based E-payment systems are receiving increasing attention as the number of implementations is witnessed on the rise globally. Understanding of user adoption behavior of E-payment systems that employ smart card technology becomes a research area that is of particular value and interest to both IS researchers and professionals. However, research interest focuses mostly on why a smart card-based E-payment system results in a failure or how the system could have grown into a success. This signals the fact that researchers have not had much opportunity to critically review a smart card-based E-payment system that has gained wide support and overcome the hurdle of critical mass adoption. The Octopus in Hong Kong has provided a rare opportunity for investigating smart card-based E-payment system because of its unprecedented success. This research seeks to thoroughly analyze the Octopus from technology adoption behavior perspectives.

Cultural impacts on adoption behavior are one of the key areas that this research posits to investigate. Since the present research is conducted in Hong Kong where a majority of population is Chinese ethnicity and yet is westernized in a number of aspects, assuming that users in Hong Kong are characterized by eastern or western culture is less useful. Explicit cultural characteristics at individual level are tapped into here instead of applying generalization of cultural beliefs to users to more accurately reflect cultural bias. In this vein, the technology acceptance model (TAM) is adapted, extended, and tested for its applicability cross-culturally in Hong Kong on the Octopus. Four cultural dimensions developed by Hofstede are included in this study, namely uncertainty avoidance, masculinity, individualism, and Confucian Dynamism (long-term orientation), to explore their influence on usage behavior through the mediation of perceived usefulness.

TAM is also integrated with the innovation diffusion theory (IDT) to borrow two constructs in relation to innovative characteristics, namely relative advantage and compatibility, in order to enhance the explanatory power of the proposed research model. Besides, the normative accountability of the research model is strengthened by embracing two social influences, namely subjective norm and image. As the last antecedent to perceived usefulness, prior experience serves to bring in the time variation factor to allow level of prior experience to exert both direct and moderating effects on perceived usefulness.

The resulting research model is analyzed by partial least squares (PLS)-based Structural Equation Modeling (SEM) approach. The research findings reveal that all cultural dimensions demonstrate direct effect on perceived usefulness though the influence of uncertainty avoidance is found marginally significant. Other constructs on innovative characteristics and social influences are validated to be significant as hypothesized. Prior experience does indeed significantly moderate the two influences that perceived usefulness receives from relative advantage and compatibility, respectively. The research model has demonstrated convincing explanatory power and so may be employed for further studies in other contexts. In particular, cultural effects play a key role in contributing to the uniqueness of the model, enabling it to be an effective tool to help critically understand increasingly internationalized IS system development and implementation efforts. This research also suggests several practical implications in view of the findings that could better inform managerial decisions for designing, implementing, or promoting smart card-based E-payment system.

Details

E-services Adoption: Processes by Firms in Developing Nations
Type: Book
ISBN: 978-1-78560-709-7

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Article
Publication date: 12 October 2012

Swaminathan G. Badrinath and Stefano Gubellini

Glode provides theoretical and empirical evidence that, in aggregate, funds underperform during economic expansions and outperform during contractions. The authors find…

Abstract

Purpose

Glode provides theoretical and empirical evidence that, in aggregate, funds underperform during economic expansions and outperform during contractions. The authors find that this result is not robust to the more appropriate conditional CAPM and to alternative methods for estimating market states. The purpose of this paper is therefore to thoroughly analyze mutual fund performance across the business cycle by disaggregating funds into different investment objectives to determine which funds possess this cyclical performance and which do not.

Design/methodology/approach

In this paper, the authors employ a conditional asset pricing model that better captures the variations in the pricing kernel in different economic states. The empirical model adjusts for time‐variation in both risk (beta) and performance (alpha). The authors specify economic states using an ex‐ante measure, the expected market risk premium. This measure is continuous and better captures changing economic circumstances than the ex‐post, binary NBER cycle dates that are common in the mutual fund literature.

Findings

In this conditional framework, the authors find that recession protection is only offered by certain types of equity mutual funds. Managers of small‐cap and mid‐cap growth equity funds are able to deliver such state‐dependent performance but managers of value funds do not. In a comparison of active mutual funds with passive counterparts, it is found that both the stocks held by the small‐cap managers as well as their stewardship of the portfolio contribute to that performance.

Originality/value

Drawing from the recent asset pricing literature, the authors are the first to adapt an integrated conditional CAPM framework to examine the state‐dependent performance of mutual funds. Rather than report aggregate equity mutual fund performance, the authors provide an analysis for subsets of mutual funds separated by investment styles. Both managers of and investors in these funds will benefit from an understanding of how portfolio performance is impacted by changing economic conditions.

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Article
Publication date: 1 April 2006

David Moreno and Rosa Rodríguez

The paper aims to examine the performance of Spanish mutual funds between 1999 and 2003.

Abstract

Purpose

The paper aims to examine the performance of Spanish mutual funds between 1999 and 2003.

Design/methodology/approach

The methodolgy uses the stochastic discount factor (SDF) framework across a variety of models developed in the recent asset pricing literature. This approach is a fairly recent innovation in the evaluation of investment performance.

Findings

The present work complements the research of Farnworth et al. and Fletcher and Forbes, adding a new issue to the SDF, the third co‐moment of asset returns. Recent asset pricing studies show the relevance of the component of an asset's skewness related to the market portfolio's skewness, the coskewness, and how it helps to explain the time‐variation of ex‐ante market risk premiums. It is found that the effects of adding coskewness to evaluate the performance is significant even when factors based on size, book‐to‐market and momentum are included.

Practical implications

The omission of a coskewness factor may lead to erroneous evaluations of a fund's performance, and therefore, issues such as the persistence of performance should be revised.

Originality/value

This paper explores, for the first time, the effects of incorporating a coskewness factor in the analysis of investment performance, both in an unconditional and a conditional framework using SDF models.

Details

Managerial Finance, vol. 32 no. 4
Type: Research Article
ISSN: 0307-4358

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Book part
Publication date: 28 September 2015

Md Shah Azam

Information and communications technology (ICT) offers enormous opportunities for individuals, businesses and society. The application of ICT is equally important to…

Abstract

Information and communications technology (ICT) offers enormous opportunities for individuals, businesses and society. The application of ICT is equally important to economic and non-economic activities. Researchers have increasingly focused on the adoption and use of ICT by small and medium enterprises (SMEs) as the economic development of a country is largely dependent on them. Following the success of ICT utilisation in SMEs in developed countries, many developing countries are looking to utilise the potential of the technology to develop SMEs. Past studies have shown that the contribution of ICT to the performance of SMEs is not clear and certain. Thus, it is crucial to determine the effectiveness of ICT in generating firm performance since this has implications for SMEs’ expenditure on the technology. This research examines the diffusion of ICT among SMEs with respect to the typical stages from innovation adoption to post-adoption, by analysing the actual usage of ICT and value creation. The mediating effects of integration and utilisation on SME performance are also studied. Grounded in the innovation diffusion literature, institutional theory and resource-based theory, this study has developed a comprehensive integrated research model focused on the research objectives. Following a positivist research paradigm, this study employs a mixed-method research approach. A preliminary conceptual framework is developed through an extensive literature review and is refined by results from an in-depth field study. During the field study, a total of 11 SME owners or decision-makers were interviewed. The recorded interviews were transcribed and analysed using NVivo 10 to refine the model to develop the research hypotheses. The final research model is composed of 30 first-order and five higher-order constructs which involve both reflective and formative measures. Partial least squares-based structural equation modelling (PLS-SEM) is employed to test the theoretical model with a cross-sectional data set of 282 SMEs in Bangladesh. Survey data were collected using a structured questionnaire issued to SMEs selected by applying a stratified random sampling technique. The structural equation modelling utilises a two-step procedure of data analysis. Prior to estimating the structural model, the measurement model is examined for construct validity of the study variables (i.e. convergent and discriminant validity).

The estimates show cognitive evaluation as an important antecedent for expectation which is shaped primarily by the entrepreneurs’ beliefs (perception) and also influenced by the owners’ innovativeness and culture. Culture further influences expectation. The study finds that facilitating condition, environmental pressure and country readiness are important antecedents of expectation and ICT use. The results also reveal that integration and the degree of ICT utilisation significantly affect SMEs’ performance. Surprisingly, the findings do not reveal any significant impact of ICT usage on performance which apparently suggests the possibility of the ICT productivity paradox. However, the analysis finally proves the non-existence of the paradox by demonstrating the mediating role of ICT integration and degree of utilisation explain the influence of information technology (IT) usage on firm performance which is consistent with the resource-based theory. The results suggest that the use of ICT can enhance SMEs’ performance if the technology is integrated and properly utilised. SME owners or managers, interested stakeholders and policy makers may follow the study’s outcomes and focus on ICT integration and degree of utilisation with a view to attaining superior organisational performance.

This study urges concerned business enterprises and government to look at the environmental and cultural factors with a view to achieving ICT usage success in terms of enhanced firm performance. In particular, improving organisational practices and procedures by eliminating the traditional power distance inside organisations and implementing necessary rules and regulations are important actions for managing environmental and cultural uncertainties. The application of a Bengali user interface may help to ensure the productivity of ICT use by SMEs in Bangladesh. Establishing a favourable national technology infrastructure and legal environment may contribute positively to improving the overall situation. This study also suggests some changes and modifications in the country’s existing policies and strategies. The government and policy makers should undertake mass promotional programs to disseminate information about the various uses of computers and their contribution in developing better organisational performance. Organising specialised training programs for SME capacity building may succeed in attaining the motivation for SMEs to use ICT. Ensuring easy access to the technology by providing loans, grants and subsidies is important. Various stakeholders, partners and related organisations should come forward to support government policies and priorities in order to ensure the productive use of ICT among SMEs which finally will help to foster Bangladesh’s economic development.

Details

E-Services Adoption: Processes by Firms in Developing Nations
Type: Book
ISBN: 978-1-78560-325-9

Keywords

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