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The purpose of this paper is to offer an alternative approach to measure the cost-benefit tradeoff, by analyzing stockholders’ reactions to the announcement and vote on the proposed rule. More specifically, the authors use event study methodology to investigate the stock price reaction on two key dates; that is, the announcement date and the voting date of the proposed short-term borrowing disclosure regulation, and argue that positive abnormal stock returns indicate that the expected benefits of the regulation outweigh the compliance costs. A negative reaction would indicate that, in the eyes of investors, the costs of compliance exceed the expected benefits.

The authors use event study analysis and apply the market model to equal-weighted portfolios of 2,450 financial and 3,985 non-financial US firms to calculate mean cumulative abnormal stock returns (MCARs, hereafter) on the announcement and voting dates. Then, the authors conduct mean difference tests on firm-level MCARs across three event windows, that is, (−30,−1), (0,+1) and (+2,+30), to confirm if the MCARs of financial firms are different from those of non-financial firms on both the announcement and the voting dates. Finally, robustness tests are performed with alternate benchmark, using value-weighted portfolios, for the market.

The authors find that the market reaction is positive and significant at the announcement date and negative and significant at the voting date of the proposed regulation of short-term borrowing disclosure regulation. Overall, the paper documents a positive market reaction, indicating the usefulness of the disclosure from the vantage point of users. Examining and comparing the results for various subsets, including commercial banks and saving institutions, bank holding companies, size quartiles, and exchange listed and OTC registrants, the authors find that a “one-size-fits-all” approach to regulation is undesirable.

This is first empirical study, to best of the authors’ knowledge, to explore stockholder reaction to a proposed, rather than an enforced, Securities and Exchange Commission (SEC) regulation and may contribute to the SEC’s final decision on the rule. Second, given a dissimilar reaction from investors of different firms, the results suggest that the SEC needs to reconsider its one-size-fit-all approach for the proposed rule. Finally, because the proposed disclosure would affect all SEC registrants, the economic implications of the findings are important not only for stockholders, but also for regulators, as they attempt to manage systematic risk and optimize the level of market intervention.

This study aims to investigate the differences in the credit profiles of Islamic and conventional banks in the Gulf Cooperation Council (GCC) region and attempts to identify the factors responsible for those differences.

Financial data sourced from the Bankscope database for a sample of 25 Islamic and 56 conventional banks headquartered in the GCC region between 1987 and 2014 are used. The credit risk of Islamic versus conventional banks is compared using a variety of univariate (mean difference test and correlation analysis) and multivariate tests (pooled ordinary least squares (OLS) regressions with robust standard errors and year fixed effects, regressions with interaction variables and logistic regressions).

Pooled OLS regressions find that Islamic banks have lower credit risk than conventional banks. Robustness checks using logistic functions and interaction variables confirm this result. Using multiple econometric specifications, we also find that higher capitalization, greater liquidity and cost inefficiency contribute to the lower risk profile of Islamic banks.

The study is unable to disaggregate data for banks offering both Islamic and conventional banking services and hence does not include conventional banks with Islamic windows. In addition, there are differences across countries even within the GCC region as to what is considered Sharia’h-compliant and what is not.

The results are of potential interest to not only researchers, but also market participants, regulators and legislators. The methods used in this study could be extended to other two-tiered banking systems and, in the case of Islamic and conventional banking, to other markets.

The authors use a unique sample of banks headquartered in the GCC countries, whose banking markets are similar, if not homogeneous, thus excluding operations of multinational banks. By focusing on the Gulf region, differences in the credit profiles of Islamic and conventional banks can be examined without the confounding effects of unobserved factors like culture, accounting regime or regulatory environment.

IN the October number of THE BRITISH FOOD JOURNAL, while disclaiming any intention of supporting or opposing any political party or any section of politicians, we stated our opinion that the fiscal policy which has been outlined before the country by Mr. CHAMBERLAIN is eminently one which requires to be put to the test of experiment and which cannot be profitably argued about upon theoretical bases. In connection with the allegation that by following the policy of leaving our doors open to those who shut their own doors in our faces, we are able to obtain goods at less expense than would be the case under other conditions, we pointed out that it would be well for the public to consider whether that which is so cheap may not also, to a great extent, be particularly nasty. The desirability of considering the nature and quality of so‐called “ cheap ” foods, supplied to us by various countriies without restriction, does not, as yet, appear to have entered the heads of those who have made matter for political controversy out of what is, in reality, a scientific question. The facts are not sufficiently known, or, in consequence of the proverbial carelessness of our generation, are not clearly appreciated. And yet, as it seems to us, some of those facts are of paramount importance to those who desire to study the subject in a calm and scientific manner and outside the region of political turmoil. What do we get from the various countries whose producers and merchants are free to “dump” their goods in this country without the restrictive influence of duty payments? Great Britain has made it known to all the world that “Rubbish may be Shot Here,” and we venture to say that the fullest advantage has been taken, and is taken, of the permission. From America, France, Germany, Italy, Holland, and Belgium, in fact from every producing country—including now even Russia and Siberia, we get inferior or scientifically‐adulterated articles which are sold to the public “ cheap.” Milk and butter scientifically adulterated, or produced under improper conditions in such a way that their composition becomes the same as physically‐adulterated products, condensed “milk” minus cream, cheese practically devoid of fat, or “ filled ” (as it is called) with margarine, all reach us in enormous quantities from most of our near and dear neighbours. Butter and certain wines and beers, loaded with injurious ‘ preservative” chemicals and the sale of which is prohibited in the country of production, are sent to the easily‐entered British “dumping‐ground” for the delectation of its confiding inhabitants. “Tinned” foods prepared from raw materials of inferior character or of more than questionable origin, are copiously unloaded on our shores to feed our complaisant population,—instead of being consigned to the refuse destructors which should be their proper destination; while, every now and then, when something worse than usual has been supplied, representative specimens of this delectable class of preparation are proved to have caused outbreaks of violent illness—those so‐called ptomaine poisonings which, of late years, have increased in number and in virulence to so distinctly alarming an extent. Flour made from diseased or damaged grain, or itself “ sick ” or damaged, and so “ processed ” as to mask its real condition; flour, again, adulterated with other and inferior meals, are “ goods ” supplied to us in ample amount for the benefit of those whose mainstay is some form of bread or flour‐food. The list might be continued literally ad nauseam.

Summary of Content Mein Kampf, Adolf Hitler (1925–1926), is in two parts, “Eine Abrechung” (A Reckoning) and “Die National‐Sozialistische Bewegung” (The National Socialist Movement). Written at different times, they originally appeared separately.

The purpose of this study is to develop tree-based binary classification models to predict the likelihood of employee attrition based on firm cultural and management attributes.

A data set of resumes anonymously submitted through Glassdoor’s online portal is used in tandem with public company review information to fit decision tree, random forest and gradient boosted tree models to predict the probability of an employee leaving a firm during a job transition.

Random forest and decision tree methods are found to be the strongest attrition prediction models. In addition, compensation, company culture and senior management performance play a primary role in an employee’s decision to leave a firm.

This study may be used by human resources staff to better understand factors which influence employee attrition. In addition, techniques developed in this study may be applied to company-specific data sets to construct customized attrition models.

This study contains several novel contributions which include exploratory studies such as industry job transition percentages, distributional comparisons between factors strongly contributing to employee attrition between those who left or stayed with the firm and the first comprehensive search over binary classification models to identify which provides the strongest predictive performance of employee attrition.

The British countryman is a well‐known figure; his rugged, obstinate nature, unyielding and tough; his part in the development of the nation, its history, not confined to the valley meadows and pastures and uplands, but nobly played in battles and campaigns of long ago. His “better half”—a term as true of yeoman stock as of any other—is less well known. She is as important a part of country life as her spouse; in some fields, her contribution has been even greater. He may grow the food, but she is the provider of meals, dishes, specialties, the innovating genius to whom most if not all British food products, mostly with regional names and now well‐placed in the advertising armentarium of massive food manufacturers, are due. A few of them are centuries old. Nor does she lack the business acumen of her man; hens, ducks, geese, their eggs, cut flowers, the produce of the kitchen garden, she may do a brisk trade in these at the gate or back door. The recent astronomical price of potatoes brought her a handsome bonus. If the basic needs of the French national dietary are due to the genius of the chef de cuisine, much of the British diet is due to that of the countrywoman.

AT the present time leisure is a subject which does not attract much serious attention. Sporadic discussions break out now and again among small groups; or it provides a topic for the popular press during the ‘silly season’. There is, however, a distinct possibility that in the measurable future an Institute of Leisure Study will be needed.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.

The purpose of this paper is to examine the association between three organizational factors (the use of multi‐dimensional performance measures, link to rewards, and training) and three organizational culture dimensions (innovation, outcome orientation, and teamwork) with the effectiveness of performance management systems (PMSs).

Data were collected by survey questionnaire from a random sample of 450 Australian local governments.

The performance management systems of Australian local councils are only moderately effective in relation to performance related outcomes, and less effective in relation to the achievement of staff related outcomes. The results indicate a significant relationship between the use of multidimensional performance measures, link of performance to rewards, training and two organizational culture factors (team work/respect for people and outcome orientation) with the effectiveness of PMSs. Different factors were found to influence the effectiveness of PMSs for large and small sized councils.

The findings imply that there is a need for the managers of local government councils to improve the effectiveness of their PMS.

The study provides an initial empirical examination of the effectiveness of performance management systems and the influential factors in the Australian local government context. The study assists local government managers in effectively managing their employees and operations.