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Article
Publication date: 14 June 2018

Tom W. Miller

The purpose of this paper is to use fundamental models incorporating structural relationships within the firm in a terminal value model for the second stage of a two-stage…

Abstract

Purpose

The purpose of this paper is to use fundamental models incorporating structural relationships within the firm in a terminal value model for the second stage of a two-stage valuation model utilized to estimate the value of a company.

Design/methodology/approach

The innovation is that growth options are identified within the structural relationships and a model capturing the value of the optionality is incorporated in the second stage of the two-stage valuation model.

Findings

Significant outcomes are that terminal value is shown to be a large portion of a company’s total value and the price behavior for initial public offerings produced by the model is consistent with the result of empirical studies.

Originality/value

This paper explicitly incorporates growth options in the second stage of a two-stage valuation model for the firm.

Details

Studies in Economics and Finance, vol. 35 no. 2
Type: Research Article
ISSN: 1086-7376

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Article
Publication date: 1 September 1998

Tom W. Miller, Bernell Stone and Harold R. Silver

Discusses arbitrage pricing theory as a multifactor model for explaining rates of return on securities; and the use of principal components analysis to reduce the number…

Abstract

Discusses arbitrage pricing theory as a multifactor model for explaining rates of return on securities; and the use of principal components analysis to reduce the number of variables studies. Applies these ideas to returns on treasury bills and government bonds for 1,000 business days ending in March 1997 to obtain a set of three endogenous factors for the term structure of interest rates, forecasts returns for one‐day and 30‐day horizons and produces a time series of the forecast errors for eight short‐term interest rates. Compares the results with those from a single factor autoregessive forecasting model and finds that although their accuracy is similar for short horizons, the multifactor model is superior for longer horizons and shorter time to maturity.

Details

Managerial Finance, vol. 24 no. 9/10
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 25 September 2021

Anagha Pullangotte and Ganesh Mangadu Paramasivam

Theory of mind (ToM) is essential in understanding and predicting human behaviour. Parenting plays a significant role in the overall cognitive development of children…

Abstract

Purpose

Theory of mind (ToM) is essential in understanding and predicting human behaviour. Parenting plays a significant role in the overall cognitive development of children. This study aims to understand the development of ToM among children in need of care and protection and then to compare the data with children living under parental care and children living in boarding schools. Further, it explores the extent of physical abuse experienced by children in the study and their relation to the development of ToM.

Design/methodology/approach

ToM Test developed by Muris et al. (1999) was used to measure ToM. Childhood Experience of Care and Abuse Questionnaire was used to understand the children’s relationship with parents and experience of physical abuse. The study used an ex post facto design with a purposive sampling method.

Findings

Findings suggest a significant impact of parental care on the ToM among children. Also, the type of care received mediated the relationship between parental care and the development of ToM. Finally, children living in institutions run by the Child Welfare Department reported that they have received harsher physical punishment from their parents than the other two groups of children.

Research limitations/implications

Findings are a significant theoretical contribution to the ToM development in children, especially in the Indian context.

Social implications

Findings demand more legal and psychological support to vulnerable children living in institutions run by the Child Welfare Department and boarding schools.

Originality/value

The study explores care and abuse from the child’s perspective. Findings are of value to the existing child care system in India.

Details

Journal of Children's Services, vol. 16 no. 4
Type: Research Article
ISSN: 1746-6660

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Book part
Publication date: 1 June 2018

Krista M. Brumley

The purpose of this chapter is to analyse the interplay between fathers’ perceptions of the workplace and how they enact fatherhood. Data were derived from qualitative…

Abstract

The purpose of this chapter is to analyse the interplay between fathers’ perceptions of the workplace and how they enact fatherhood. Data were derived from qualitative in-depth interviews with seven elite, professional fathers employed at multinational manufacturing corporations in Detroit, Michigan. Fathers are highly educated, have a significant income and all but one have wives in the paid labour market. This study shows how the persistence of the ideal worker norm and penalties for using work-family policies (WFP) perpetuate the gendered division of paid and unpaid work. First, fathers who are ideal workers are rewarded; fathers who do not face criticism and obstacles to promotions. Second, management and supervisor’s discretion results in uneven access to WFP, penalizing fathers for asking and preventing most from using them. Third, fathers express desire to be ‘involved’, but their engagement is largely visible fatherhood.

This study extends our theoretical understandings of work, WFP and fatherhood from a distinct departure point – the elite fathers highlighted here have been parenting for at least three years, and live and work in circumstances that seemingly would allow them to disrupt normative expectations of work and family. The United States provides a unique backdrop to examine the navigation of competing work and family demands because reconciliation is largely left to employees and their families. Public and individual company policies are not enough; there must be a corresponding supportive family-friendly culture – supervisor support and penalty-free WFP – to disrupt gendered work and family.

Details

Fathers, Childcare and Work: Cultures, Practices and Policies
Type: Book
ISBN: 978-1-78743-042-6

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Book part
Publication date: 7 June 2019

Christian Voegtlin, Ina Maria Walthert and Diana C. Robertson

The chapter examines to what extent research from social cognitive neuroscience can inform ethical leadership. We evaluate the contribution of brain research to the…

Abstract

The chapter examines to what extent research from social cognitive neuroscience can inform ethical leadership. We evaluate the contribution of brain research to the understanding of ethical leaders as moral persons as well the understanding of their role as moral managers. The areas of social cognitive neuroscience that mirror these two aspects of ethical leadership comprise research relating to understanding oneself, understanding others, and the relationship between the self and others. Within these, we deem it relevant for ethical leadership to incorporate research findings about self-reflection, self-regulation, theory of mind, empathy, trust, and fairness. The chapter highlights social cognitive neuroscience research in these areas and discusses its actual and potential contributions to ethical leadership. The chapter thereby engages also with the broader discussion on the neuroscience of leadership. We suggest new avenues for future research in the field of leadership ethics and responsibility.

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Article
Publication date: 1 January 1989

Stuart Hannabuss

The management of children′s literature is a search for value andsuitability. Effective policies in library and educational work arebased firmly on knowledge of materials…

Abstract

The management of children′s literature is a search for value and suitability. Effective policies in library and educational work are based firmly on knowledge of materials, and on the bibliographical and critical frame within which the materials appear and might best be selected. Boundaries, like those between quality and popular books, and between children′s and adult materials, present important challenges for selection, and implicit in this process are professional acumen and judgement. Yet also there are attitudes and systems of values, which can powerfully influence selection on grounds of morality and good taste. To guard against undue subjectivity, the knowledge frame should acknowledge the relevance of social and experiential context for all reading materials, how readers think as well as how they read, and what explicit and implicit agendas the authors have. The good professional takes all these factors on board.

Details

Library Management, vol. 10 no. 1
Type: Research Article
ISSN: 0143-5124

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Article
Publication date: 5 November 2020

Nishani Champika Wickramaarachchi, Seetha Kusum Chandani and Malka Thilini

Developing residential units is crucial in the socio-economic development of a country. The investor faces not only uncertain transaction price (price risk), but also…

Abstract

Purpose

Developing residential units is crucial in the socio-economic development of a country. The investor faces not only uncertain transaction price (price risk), but also uncertainties about the marketing period risk. Predicting when the incurred money is being realized is difficult because of the imperfect nature of the real estate market. Thus, the purpose of this study is to analyze the variables that explain the time on the market (TOM) of housing units, identifying the relationships in-between and the effects on TOM of residential properties.

Design/methodology/approach

Following a multi-stage sampling process, a random sample of 120 housing units was selected. Data were collected using a self-administered questionnaire. The questionnaire contained 57 variables that can affect TOM. Semi-structured interviews were conducted to confirm some of the data and information on residential units from the developers. Direct observations were conducted to verify certain physical attributes and, finally, they were comprehensively analyzed using quantitative analysis techniques in SPSS 16.0 Statistical package.

Findings

Results confirmed that lesser advertising prices, attractive environment, proximity to the city center and proper shape of lands reduce the TOM. Similarly, higher prices, longer distance to the city center and irregular shape of land increase the TOM. The results strengthen the necessity of a comfortable environment appropriate to live, probably with greenery or water bodies, which is a key influential factor that reduces the TOM in Sri Lanka.

Originality/value

wIn the Sri Lankan context, there are few contributions to the real estate literature in this regard. Many scholars have concentrated on physical and economic characteristics, whereas this research adds the environmental factors. Therefore, this research makes a significant contribution to the body of knowledge in this area, as it puts more attention on including several variables, as well as newly introduced variables as determinants. Consumers can apply the research findings to assess the relative importance of housing attributes and services which they perceive most valuable, and then to make their purchase decisions. The findings also contribute to the investigations of the behavior of housing attributes and enable knowing as to what factors are to be promoted and what to be omitted to gain a shorter TOM.

Details

International Journal of Housing Markets and Analysis, vol. 14 no. 5
Type: Research Article
ISSN: 1753-8270

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Article
Publication date: 1 March 1998

Van Miller, Tom Becker and Charles Crespy

This paper studies the strategies of “E” award winning exporters engaged in manufacturing and demonstrates that there are multiple strategies for achieving success…

Abstract

This paper studies the strategies of “E” award winning exporters engaged in manufacturing and demonstrates that there are multiple strategies for achieving success. Cluster analysis is applied to fifty‐seven items that comprise the population of business activities for award‐winning U.S. exporters to Latin America. Four strategies emerge from the cluster analysis and are validated with multiple methods. In addition, the clusters are shown to be consistent with an emerging business strategy typology that until now has ignored exporting. The results offer both a geographical and a conceptual extension of prior work in international business.

Details

International Journal of Commerce and Management, vol. 8 no. 3/4
Type: Research Article
ISSN: 1056-9219

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Article
Publication date: 1 December 2004

Gerald R. Brown and Tien Foo Sing

Time on the market (TOM) has been widely tested in the US real estate literature using listing and selling data of houses captured in the multiple listing services (MLSs)…

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Abstract

Time on the market (TOM) has been widely tested in the US real estate literature using listing and selling data of houses captured in the multiple listing services (MLSs). Unfortunately in the UK there are no MLSs so it is not possible to undertake similar analyses. The approach adopted in this paper differs from traditional TOM analyses in that it focuses on the speed or time the market takes to correct for information differences between open market valuations and traded prices. In this context the paper introduces the concept of equilibrium time on the market (ETOM). The study therefore adopts a different approach to estimating TOM and in addition also examines the phenomenon within the UK commercial real estate sector. Based on a simple present value model, the time taken for the difference between an appraiser's estimate of open market value and known selling prices define our time on the market under equilibrium market conditions. Using the annualised UK Investment Property Databank all‐property total return index for a sample period of 17 years between 1983 and 1999, the average ETOM was estimated to be 8.4 months. This figure, however, varied and depended on market conditions.

Details

Journal of Property Investment & Finance, vol. 22 no. 6
Type: Research Article
ISSN: 1463-578X

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Book part
Publication date: 14 September 2007

Abstract

Details

Handbook of Transport Modelling
Type: Book
ISBN: 978-0-08-045376-7

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