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The purpose of this paper is to test whether financial analysts’ rationality in making stocks’ earnings forecasts is homogenous or not across different information regimes in stocks’ past returns.

By treating stocks’ past returns as the information variable in this study, the authors employ a threshold regression model to capture and test threshold effects of stocks’ past returns on financial analysts’ rationality in making earnings forecasts in different information regimes.

The results show that three significant structural breaks and four respective information regimes are identified in stocks’ past returns in the threshold regression model. Across the four different information regimes, financial analysts react to stocks’ past returns quite differently when making one-quarter ahead earnings forecasts. Furthermore, the authors find that financial analysts are only rational in a certain information regime of stocks’ past returns depending on a certain return-window such as one-quarter, two-quarter or four-quarter time period.

This study is different from those in the existing literature by arguing that there could exist heterogeneity in financial analysts’ rationality in making earnings forecasts when using stocks’ past returns information. The finding that financial analysts react to stocks’ past returns differently in the different information regimes of past returns adds value to the research on financial analysts’ rationality.

How was I going to engage the students in my ancient Roman Art and Architecture course, especially the five football players who had signed up in the fall of 2015? In this chapter, I will discuss the commitment I made to the students and myself to ensure that each class period was one in which an active learning technique was used, often paired with some lecture, and sometimes not, to engage students and help them learn about Roman Art and Architecture. I will discuss what assignments I chose based on research and my own observation, as well as the results of a focus group held with the football players a year later about what they remembered. Football players tend to be kinetic learners and thus were chosen as the follow-up to see how the active learning techniques in this class met objectives. Specifically, this chapter will discuss the inclusion of a Reacting to the Past role-playing game, a research project on “Daily Life in Ancient Rome,” and presentations on different methodologies of interpreting an image from a Pompeiian tavern.

The purpose of this paper is to appraise the stability of Ghana’s fiscal policy by assessing government’s reaction in the past to rising public debt over the last three decades.

Using quarterly data spanning 1990Q1-2013Q2, the study evaluated the mean reverting properties of Ghana’s public debt and also estimate the fiscal policy reaction function. The complementary estimation techniques include Pesaran et al. (2001) bound testing cointegration test, differencing method and also Granger two-step cointegration methods.

Using quarterly data from 1990Q1 to 2013Q2, the study found the fiscal policy to be unstable in the 1990s, necessitating the adoption of Heavily Indebted Poor Countries’ initiative in 2001. The fiscal situation however relatively stabilizes afterwards following the external debt relief in 2001. Nevertheless, the study reveals that the recent fiscal policy (since 2006) seems to be confronted with tremendous fiscal pressures, exacerbated by fiscal excesses during election cycles as well as excessive domestic and external borrowings. In addition, the economic growth-debt link was found to be weak, though debt appears to adversely affect economic growth.

The study does not thoroughly explore the possibility of non-linear relationship between public debt and primary balance. Also, the result could be different using different data frequencies.

The state of government finance has implications on the monetary policy and economic growth prospects of an economy. As an inflation targeting central bank since 2002, a successful monetary policy implementation that reins in inflation requires fiscal policy that curtails fiscal volatilities originating from imprudent behaviour of government. Therefore, the looming fiscal pressures in recent times would impair the effective implementation of the inflation targeting framework by the central bank, and also retard economic growth as the bulk of these expenditures are usually recurrent in the case of Ghana.

This is the first paper to employ complementary econometric techniques to empirically evaluate fiscal sustainability in Ghana.

The purpose of this paper is to examine the political influence on the reforms proffered for the banking sector.

The paper is divided into three main parts. First, the paper will examine the background of the financial crisis. The second and main part of the paper is the examination and critique of the White Paper reform proposals. The paper concludes by critically examining the opposition party's reform paper and contrasts the proposals.

The paper concludes that although the bank regulation needs to be reformed, it is debateable whether it is the time or the place or indeed the party that is right to achieve a successful result at the present time.

The implications for the research is that during the next year banking reforms will undergo further changes, therefore, there will be a requirement to revisit and revise the findings in light of the political agenda of the new government.

This paper offers an original insight into the political influences on banking regulation within the UK.

Organisational change, as a general topic, has been extensively researched since the 1950s, as evidenced by the proliferation of papers in the last five decades. As a research topic within operations management, it offers fascinating insights into the way manufacturing organisations function and adapt in reality. This paper evaluates what has worked, and what has not been effective, within a UK‐based manufacturing company, tracking multiple change initiatives over several years across two company sites. The core research focused on the implementation of change initiatives based on common constructs, such as planned change, as defined by management writers and consultants. From the research it emerged that a realistic interpretation of the change process had to take into account multiple and varied forces, such as: customers and suppliers; the economic environment; national and international legislation; the history of the organisation; etc. The research underpinning this paper enabled an identification of the specific influences on changes in the organisation and the way these interacted over time. A model of organisational change, developed from the research, is presented. The contribution of this paper lies mainly in deepening operations managers’ understanding of organisational change. It also uncovers the underlying rationales that steer change initiatives (planned or emergent) and identifies the key influences on organisational change. It provides and renews the necessary vocabulary, allowing managers to understand better and act on the multiple dimensions of organisational change. Furthermore, the provision of key learning points through a number of management “guidelines”, provides specific advice on how to effect sustainable change within organisations.

The authors explored shifts in social interactions, content engagement and history learning as students who were studying one pandemic simultaneously experienced another. This paper aims to understand how the Net.Create network visualization tool would support students as they tried to understand the many complex interactions in a historical text in a remote learning environment and how sustained knowledge building using Net.Create would shape student attitudes toward remote learning, collaboration and engagement.

This paper explores changes in engagement and learning in a survey-level history course on the black death after a shift to remote learning during the COVID-19 pandemic. The authors used activity theory to focus the adaptation of Net.Create, a web-based collaborative social-network-analysis tool and to understand how it supported group-based remote learning. The authors describe how the redesigned activities sustained engagement with historical content and report coded student network entries, reading responses and surveys to illustrate changes in engagement and learning.

The results suggest that students benefit from personal connections to historical content and their peers. Net.Create supported both through collaborative knowledge-building activities and reflection on how their quarantine experiences compared to the historical content they read. It is possible to avoid student frustrations with traditional “group work” even in a remote environment by supporting collaborative learning using Net.Create and a mix of individual and group contributions.

This is the first use of a collaborative network visualization tool to support large classroom interaction and engagement with history content at the undergraduate level.

In many respects the clothing industry and clothing market in Sweden provides a useful guide to potential trends and strategies which might be expected to prevail in other European countries following deregulation of the clothing trade early next century. The paper aims to explore two issues — sourcing practices particularly as utilised by a small company and price trends following the removal of important controls.

This article offers a conception of the learning organization. From this model, we discuss ways in which organizational development can now be used to create learning organizations and ways in which organizational development theory and practice might change to create learning organizations. We consider three ways OD may contribute to the learning organization: supportive systems of interaction, guiding values, and a sense of structural alternatives. We look at contributions learning organizations make to OD, in terms of changing conceptions of dialogue, system diagnosis focused on learning, intervention focused on long term empowerment, and measurement at the macro system level.

Industry experts estimate that around ten per cent of all computers installed can be categorised as failures and that, as a consequence, an increasing number of users are seeking legal redress, even though most solicitors admit to being ill‐equipped to judge whether or not a computer performed as it should have done.