bluuebunny/crossref_metadata_2025 huggingface dataset:
Acculturation and food habits: lessons to be learned
Authors: Hartwell Heather J. , Edwards John S.A. , Brown Lorraine
Published: October 2011

Purpose

There is limited research on international students' acculturation with respect to food habits and the food environment. Hence, the purpose of this paper is to evaluate the extent of international (European and Asian) students' food acculturation in the United Kingdom. The paper seeks to report the findings from a qualitative study of the adjustment experience of a group of postgraduate international students at a university in the South of England.

Design/methodology/approach

Semi‐structured in‐depth interviews were conducted with a group of postgraduate international students (European and Asian) (n=10) at a university in southern England.

Findings

A “push‐pull” model towards food choice is proposed where adjustment is described as a dynamic and multifaceted process fluctuating as a result of individual, cultural and external factors. A longing for home was apparent which could be alleviated by paying greater attention to food orientation.

Practical implications

If adjustment is to be assisted, understanding the complexity of the process will help determine intervention strategies to support international students such as organising extracurricular activities in the form of tasting sessions or cooking clubs during orientation week which coincidently will also allow opportunity for group interaction and familiarisation. There should be an understanding on the part of all service providers and in so doing provide a climate for positive learning.

Originality/value

The paper shows that adjustment can be a stressful experience, where the role of food in student acculturation is under researched. Understanding the complexity of the process will help to determine the intervention strategies to be used by those offering pastoral or social support.
Directing the personnel search part IV: the on‐site interview
Authors: Fitsimmons Gary
Published: October 2011

Purpose

This paper's purpose is to outline what goes into a well‐done library personnel on‐site interview.

Design/methodology/approach

The paper reviews the need for planning and doing background checks leading up to the onsite interview and then suggests items to consider in both the planning and execution of a well thought‐out onsite visit.

Findings

The finding is that planning the onsite interview well is essential to knowing which candidate will work out the best in the long run.

Practical implications

Hiring the right person through a well‐thought out process can save time, trouble and expense for years to come.

Social implications

All job seekers should be treated with respect remembering that all have been in that position and could be in that position again in the future.

Originality/value

The value of the paper is in hiring the right person the first time using a process that is beneficial to everyone involved.
Non‐resident use of public libraries in Appalachia
Authors: Ross Sheri V.T.
Published: October 2011

Purpose

This paper aims to report on the findings of the first phase of a three‐phase research project that explores the use of public libraries by non‐residents and how public library directors perceive the value of non‐resident use for their libraries and communities. The findings will inform public librarians by revealing strategies and policies that are used for serving non‐resident users.

Design/methodology/approach

In‐depth interviews were conducted with 18 library directors throughout the Appalachian region of the eastern USA. A grounded analysis of the interview transcripts using NVivo 8 software was undertaken.

Findings

A variety of non‐resident user types was identified. Approaches to offering library services to non‐resident users varied accordingly. People visit communities for a variety of reasons; tourism, genealogical research, or family visits are just a few examples. In doing so, these visitors usually bolster the communities' economies.

Practical implications

By effectively serving the needs of non‐residents, public libraries support the economic development of their resident communities. These services should be documented, evaluated, and publicized. Libraries with unique collections might consider promoting themselves as destination libraries.

Originality/value

This article is a valuable addition to the literature as little research has been reported about non‐resident library use. In an increasingly mobile society, public librarians must begin a meaningful dialog about how to best serve these important customers.
Impact of the global economic crisis on academic libraries in Malawi
Authors: Harvey Chaputula Aubrey
Published: October 2011

Purpose

The aim of this paper is to determine the impact of the global economic crisis on University of Malawi Libraries and Mzuzu University Library.

Design/methodology/approach

A case study methodology was adopted, and data were collected using both interview guides and questionnaires.

Findings

Findings show that libraries in this study were not affected much by the global economic crisis. Budgets of the libraries had registered steady increments, and this had positively impacted on collection development activities, staff recruitment and training, infrastructure development, and internal and external travels etc. Effects of the economic crisis, though minor, were evident by the stagnation of some college budgets and absence of scholarships for training abroad.

Research limitations/implications

The study covered four of the five libraries in the University of Malawi namely the Polytechnic, College of Medicine, Bunda College, Kamuzu College of Nursing and Mzuzu University. Chancellor College Library did not participate because the researcher faced challenges in getting permission from authorities. So much as the results do give a general picture of libraries under the University of Malawi, the findings may not necessarily apply to Chancellor College Library.

Originality/value

In light of the findings, libraries were encouraged to strengthen existing income generating activities, and also explore other ways of generating revenue to cover for shortfalls in the budget that may be prompted by withdrawal of donor funds and cuts in government subvention should the global economic crisis persist.
The teaching and research environment in Finland in 2020
Authors: Hormia‐Poutanen Kristiina , Kuusinen Iiris , Saarti Jarmo , Vattulainen Pentti
Published: October 2011

Purpose

The entire higher education legislation in Finland has been overhauled with effect from the beginning of 2010. The aim of the restructuring of higher education is to enhance teaching and research quality and increase effectiveness through a streamlined network of institutions coupled with stronger institutional profiling and priorities. University and polytechnic libraries form a key infrastructure in teaching and research, so it is vital for the development of higher education to ensure their operational quality. This paper seeks to describe the results of the work of a committee that was given the job of making recommendations on the successful implementation of the new legislation, especially from the point of view of library and information services.

Design/methodology/approach

The paper takes the form of a case study.

Findings

The committee suggests an efficient network of local libraries tied in with centralized services, as well as sound funding and legislation that will help fulfill the libraries' main tasks when building digital services for students and academics.

Research limitations/implications

The paper is based on experience in Finland.

Practical implications

The paper gives examples of the action needed in restructuring the library network for the digital age.

Originality/value

The paper provides a model for national cooperation between centralized services and libraries at institutes of higher education.
Organisational learning and leadership styles in healthcare organisations
Authors: Franco Mário , Almeida Joana
Published: October 2011

Purpose

This paper aims to understand the association between organisational learning and leadership styles in the healthcare context.

Design/methodology/approach

A qualitative approach was applied in two continuous care units in the same Portuguese healthcare organisation (single case study). Data were obtained from a survey of 28 collaborators and an interview with its manager‐leader/general director. Documental analysis was also used.

Findings

The findings attested to the central role of organisational learning and leadership in organisational performance/effectiveness within healthcare organisations. Different levels of performance were identified in the organisation selected. The practical implications of findings are also discussed.

Research limitations/implications

The study of a single case has been analysed, with the consequent disadvantage of not considering generalisation. For this reason, further research should be carried out to detect structural and cultural differences in healthcare organisations. On the other hand, most of the writing on organisational learning and leadership is conceptual, so this empirical study was important.

Originality/value

Despite the vast quantity of studies in the domain of leadership and organisational learning, very little work associates these two topics. Taking into account the relevance of these research topics for healthcare organisations, the findings give additional support to the argument that leadership plays an important role in instilling organisational learning in the healthcare sector.
An exploration of perspective taking as an antecedent of transformational leadership behavior
Authors: Gregory Brian T. , Nathan Moates K. , Gregory Sean T.
Published: October 2011

Purpose

The purpose of this research is to explore dyad‐specific perspective taking as a potential antecedent of transformational leadership behavior.

Design/methodology/approach

The study's hypothesis was explored through a sample of 106 supervisor/subordinate dyads working in a hospital. Supervisors self‐reported their dyad‐specific perspective taking, while subordinates evaluated the transformational leadership behaviors of their supervisors.

Findings

Results indicate that dyad‐specific perspective taking is related to transformational leadership behavior and not related to transactional leadership behavior.

Practical implications

Results suggest that managers wishing to improve their skills as leaders may want to increase the frequency with which they attempt to look at issues from the perspective of their subordinates.

Originality/value

This research contributes to the literature by suggesting that dyad‐specific perspective taking is related to transformational leadership behavior.
Mobile hospital robots cure numerous logistic needs
Authors: Bloss Richard
Published: October 2011

Purpose

The purpose of this paper is to show how mobile robots are addressing a variety of hospital logistic needs.

Design/methodology/approach

The paper includes in‐depth interviews with developers of the Aethon hospital mobile robot logistics system.

Findings

Robotics can greatly improve hospital logistic services such as moving food, lab samples, prescriptions and even add a bit of entertainment in the process.

Practical implications

Hospital administrators have new answers to the old challenges of moving items in a timely and cost‐effective manner around their facility.

Originality/value

Hospitals are first implementers of mobile robotics to look for answers to their logistic problems. They do not have to break new ground for themselves.
Low‐cost and automated calibration method for joint offset of industrial robot using single‐point constraint
Authors: Liu Yong , Xi Ning
Published: October 2011

Purpose

The industrial robot has high repeatability but low accuracy. With the industrial robot being widely used in complicated tasks, e.g. arc welding, offline programming and surgery, accuracy of the robot is more and more important. Robot calibration is an efficient way to improve the accuracy. Previous methods such as using coordinate measurement machines, laser trackers or cameras are limited by the cost, complex operation or the resolution. The purpose of this paper is to propose an approach and calibration equipment to address these issues.

Design/methodology/approach

The proposed method relies mainly upon a laser pointer attached on the end‐effector and single position‐sensitive devices (PSD) arbitrarily located on the workcell. The automated calibration procedure (about three minutes) involves aiming the laser lines loaded by the robot towards the center of the PSD surface from various robot positions and orientations. The localization is guaranteed by precise PSD feedback servoing control, which means physically the intersections of each pair of laser lines (virtual lines) are on the same point. Based on the untouched single‐point constraint, the robot joint offset calibration is implemented. Using the authors' proposed approach, a portable, low‐cost, battery‐powered, wireless and automated calibration system was implemented. Error analysis was conducted on the system.

Findings

The localization error of the developed calibration system is within 2 μm. The errors in joint space are magnified in PSD plane, and consequently the resolution in the joint space is improved. The standard deviation of the identified parameters was small (10‐2), indicating the stability of the calibration method. Both simulation and experimental results verify the feasibility of the proposed method and demonstrate the developed calibration system can identify joint offset with uncalibrated laser tool parameters.

Originality/value

The paper shows how a portable calibration system for joint offset of industrial robots was developed and how the goal of fast, automated, low‐cost, portable, and high precision calibration methods for joint offset was achieved.
Modeling and analysis of robotic wheel loading process in trim‐and‐final assembly
Authors: Chen Heping , Wang Jianjun , Zhang Biao , Fuhlbrigge Thomas
Published: October 2011

Purpose

Moving production lines are widely used in many manufacturing factories, such as automotive and general industries. However, industrial robots are hardly used to perform any tasks on the moving production lines. One of the main reasons is that it is difficult for conventional industrial robots to adjust to any sort of change. Therefore, the authors developed an industrial robotic system to track the random motion of the moving production lines while performing assembly processes. Before setting up a physical system to measure the system performance, it is desirable to develop a method to analyze the system performance. The purpose of this paper is to develop a performance analysis method for a robotic assembly system on a moving production line.

Design/methodology/approach

The developed system is based on the synergic combination of visual servoing and force control technology. Since it is difficult to model the system accurately, a second‐order system is used to approximate it. The system performance for force control and visual servoing is then analyzed. The tracking errors are calculated and compared with experimental results.

Findings

The developed method is evaluated using an experimental system and simulation. The simulation results are quite close to the experimental results. Hence, the developed method can be used to estimate the system performance.

Research limitations/implications

Since only one system is set up to validate the developed method, more testing is needed to generalize it.

Practical implications

The developed technology is validated using the experimental results and the results are promising. Even though there is a limitation, the developed method can be used to estimate the system performance before setting up a physical system.

Originality/value

This paper provides a system performance analysis method for a robotic assembly on a moving production line. It is important to estimate the system performance before setting up a physical system because it will save a lot of time and resources in the manufacturing floor.
Robotic manufacturing by shaped metal deposition: state of the art
Authors: Escobar‐Palafox Gustavo , Gault Rosemary , Ridgway Keith
Published: October 2011

Purpose

The purpose of this paper is to provide an overview of shaped metal deposition (SMD). SMD is an additive manufacturing process which uses a robotic cell to create fully dense, near‐net shape, metallic parts directly from computer‐aided design files.

Design/methodology/approach

Research into optimising the SMD process was carried out as part of the 6th Framework RAPOLAC project. This included developing both robotic and weld models, creating a weld controller, and using a design of experiments approach to optimise parameters based on the resultant component microstructure and material properties. Extensive metallurgical analysis and mechanical testing was carried out.

Findings

A mechatronic model of the robot was produced and integrated with a novel controller to allow parts to be manufactured with little or no operator intervention. Computational models of the temperature field, microstructure, strain and stresses that occur during deposition were also developed. Variation in weld parameters was linked to part microstructure and mechanical properties.

Research limitations/implications

This research focussed on a common titanium aerospace alloy (Ti‐6Al‐4V).

Practical implications

The SMD process is applicable to a variety of parts in a range of industrial sectors. It is cost‐effective for low‐volume parts and prototypes, but it is envisaged that its main use will be to add material to previously forged or cast components and therefore SMD will allow companies to reduce both the size of forgings and material waste. SMD as a repair technique is also being investigated.

Originality/value

The paper provides a summary of the latest advances in robotic manufacturing by SMD.
Introduction to the special issue: integrating sustainability in business models
Authors: Arevalo Jorge A. , Castelló Itziar , de Colle Simone , Lenssen Gilbert , Neumann Kerstin , Zollo Maurizio
Published: October 2011

Purpose

The purpose of this paper is to introduce this special issue, conceptualized and realized by a group of scholars engaged in the Global Organizational Learning and Development Network (GOLDEN) for Sustainability programme. It aims to adopt the overarching research question of the GOLDEN research programme “How do firms learn to integrate and manage sustainability in their business models, including their organizational purpose, strategy, processes, systems and culture?” as the guiding principle for case selection.

Design/methodology/approach

The paper first presents the key ideas underpinning the previous research question and illustrates the research approach and agenda of GOLDEN for Sustainability. Second, it introduces the eight case studies presented in this special issue.

Findings

The cases offer good illustrations of the ongoing transition by both medium‐sized and multinational corporations dealing with learning and change challenges posed by the identification and management of sustainability issues. The selected cases represent firms operating in diverse contexts and industries, and are developed by scholars specializing in various fields connected to corporate responsibility and sustainability.

Originality/value

The paper presents cases of organizations that have made sense of the sustainability challenge and also the different approaches taken to tackle the challenge, and the results stemming from their efforts..
Integration of company responsibility, the learning process: the Autogrill case
Authors: Ragusa Rosario
Published: October 2011

Purpose

The purpose of this research is to provide an insight into the learning process leading to the integration of company responsibility, in companies that are moving from a generic approach of Corporate Social Responsibility towards a holistic approach of stakeholder management. The analysis of a case study of a multinational Italian company, Autogrill Group S.p.a., will be explored as an organizational learning process using the framework of a recent approach of Total Responsibility Management.

Design/methodology/approach

The method of qualitative research is based on the analysis of the theory of the subject and through the use of various techniques to study the case to give a longitudinal perspective.

Findings

The use of the case study suggests that the path from a CSR perspective toward a stakeholder management model of responsibility is a “gradual” learning process that requires vision, commitment, integration, innovation, competence, management systems and resources. This learning process is also very important as a “catalyst” of innovation and for the continuous improvement of the company.

Research limitations/implications

In this research the aim is to inquire: How do companies learn to integrate their responsibilities in the process of management, moving from a generic approach of CSR toward a holistic approach of stakeholder management?

Originality/value

The stakeholder management model of Total Responsibility Management in this research is used to assist understanding the importance of managing the company responsibly and to show a way of reading the progress of a multinational company, which is on the path towards a more stakeholder‐oriented model of responsibility.
Acciona: a process of transformation towards sustainability
Authors: Arenas Daniel , Fosse Jeremie , Murphy Matthew
Published: October 2011

Purpose

This teaching case seeks to explain the main aspects of Acciona's sustainability strategy and the process of transformation of the company after the new CEO took office in 2004. It also aims to present some possible difficulties of maintaining such strategies in the new economic and political environment. The purpose of the case is to show how three aspects play a relevant role in a company's transformation towards sustainability: cultural change; collaboration with external stakeholders; and the innovations introduced.

Design/methodology/approach

The paper presents a case study that narrates the process of six years of transformation towards sustainability of a company. The case was constructed through the analysis of company documents and several interviews with key actors in the company as well as external stakeholders.

Findings

The paper shows how cultural change, collaboration with external stakeholders and innovation form a vital combination in the transformation process towards sustainability. It also reveals that acquisitions and internationalization can help accelerate or consolidate this process.

Practical implications

The paper is presented as a teaching case with discussion questions at the end. The aim is to engage readers and participants in educational and training programmes in discussions about the factors that may contribute to start and maintain a transformation towards sustainability. The practical implication of the paper is to show how cultural factors, collaboration and innovation form a vital combination for changing the way businesses do things.

Originality/value

The value of the case lies in showing how business efforts of embedding sustainability into business practice can be more effective by combining cultural factors, collaboration and innovation.
Embedding CSR as a learning and knowledge creating process: the case for SMEs in Norway
Authors: von Weltzien Hoivik Heidi
Published: October 2011

Purpose

This case study aims to single out two companies in Norway belonging to the NCE Subsea cluster in the Bergen region, which are in the process of developing internationalization strategies. Most of the companies in the Subsea cluster are small to medium‐sized companies. Until recently they have not seen or felt the need to make their own understanding or actions regarding Corporate Social Responsibility (CSR) explicit, even though knowledge about what CSR entails – now often shortened to CR or even SR (Social Responsibility) – may very well already exist in the mindset of managers and employees. However, to respond to potential international customers' demands – often coming from the larger oil companies – SMEs in the Subsea sector are seeking now a way to resolve this by starting a process within their own organizations, using the new process standard ISO 26000. For this reason, the central element of this study focuses on describing such internal processes, which embed CSR knowledge in the respective companies as part of an organizational learning process.

Design/methodology/approach

The paper adopted a case study method known as Appreciative Inquiry (AI).

Findings

The findings show that the initial phases of such processes are extremely important. It is crucial to view the embedding process of CSR/CR as part of a strategic implementation process, which is capable of interlinking and interlocking business goals with human, social and environmental objectives in order to foster a financially and socially responsible business.

Originality/value

The two cases provide insights into how ISO 26000 can be adapted by SMEs in order to embed a deeper understanding of CSR into the organization, using a participatory dialogue process. The cases can serve as a model for other SMEs who want to live up to the expectations of their main stakeholders, using a process where strategy, business innovation, personal development and continuous learning are interlocked with understanding social responsibility.
Realism versus simplicity in strategic marketing planning: the impact of temporality
Authors: Logman Marc
Published: October 2011

Purpose

This paper aims to get insight into managers' cognitive maps with respect to simplicity, realism and confidence, when talking about strategic marketing planning. Moreover, it analyses the impact of temporal modes of thinking on the three cognitive constructs studied.

Design/methodology/approach

A qualitative research is performed, touching the core of what is really going on in the manager's mind rather than just skimming the surface.

Findings

Past and present oriented thinking (often found in deductive and inductive approaches) are found to be more simple but less realistic than an abductive (may be) or even visionary (will be) approach. Moreover, managers seem to integrate elements of various schools of management thought when thinking about simplicity, realism and confidence.

Practical implications

Managers use management tools, frames and dimensions in a compound way when developing strategic marketing plans.

Originality/value

The paper sheds another light on how various schools of management thought are used in strategic marketing planning practice.
Conceptualising the value of web content in marketing research
Authors: Chang Joshua
Published: October 2011

Purpose

This paper aims to conceptualise the value of analysing web content for marketing research based on a conceptual perspective with some practical views. This article chooses to use a conceptual base for its discussion in the view that it is important to establish a fundamental academic understanding as opposed to practical examples that can vary in significance and timeliness.

Design/methodology/approach

This article is a conceptual review of how technological advancements on the web have engendered a valuable platform for content analysis research.

Findings

The literature review and discussion points out that content analysis using web data can now be carried out with significant advantages such as greater accuracy, timeliness, and lower cost compared to the offline alternative. This article postulates the current value of web content analysis in marketing research requires re‐evaluation.

Practical applications

This article is expected to provide a better understanding of the value of using web data for content analysis by professional and academic marketing researchers, and more importantly, enables a more informed decision in choosing between offline and web data.

Originality/value

Sentiments on the value of web content are mixed in the research community. The hype generated in the nascent stages of the internet has selectively damaged its credibility as a reliable platform for research. In light of technological advancements, this paper suggests a re‐evaluation of this platform for research based on a conceptual discussion.
The affective and cognitive components of country image
Authors: Maher Amro A. , Carter Larry L.
Published: October 2011

Purpose

The purpose of this paper is to utilize the BIAS map from the social psychology literature to operationalize and simultaneously examine the effects of the affective and cognitive components of country image.

Design/methodology/approach

The researchers collected survey data using a snowball sample of undergraduates from a prominent university in Kuwait. The final sample consisted of 410 Kuwaitis who were 18 years or older; 52 percent of the respondents were female.

Findings

The results of this study confirmed that affective country attitudes (i.e. contempt and admiration) relate to Kuwaitis’ willingness to buy American products. The results also support the conclusion that warmth and competence are positively related to admiration but negatively related to contempt.

Research limitations/implications

Future research should identify situations in which the affective dimensions of country image play the more dominant role in consumer decision making. The model should also be tested across other cultural samples to increase the generalizability of these results.

Practical implications

Managers must correctly prioritize the affective and cognitive components of country image, in order to either emphasize or downplay the country of origin, or when deciding to use foreign branding strategies.

Originality/value

This study provides a theoretical foundation for differentiating between the cognitive and affective components of country image and differentiates between the various dimensions of each of these components. The study further enables managers to determine whether country affect or cognition is the main driver of country‐of‐origin perceptions.
Explaining the product‐specificity of country‐of‐origin effects
Authors: Tseng Ting‐Hsiang , Balabanis George
Published: October 2011

Purpose

The purpose of this paper is to test the applicability of product typicality in explaining the product‐specificity of country of origin (COO) effects.

Design/methodology/approach

To help select stimuli used in the study, two dimensions of product typicality regarding COO images were created. A total of 416 participants from a business school in Taiwan participated in this experiment and rated their perceived COO images and attitudes towards specific products from select countries.

Findings

The results indicate that product typicality can help explain the discrepancies between COO images across products from a country, and across COOs of a product. Typical products received more favourable consumer attitudes and stronger COO images than atypical ones. This study also manipulated two other factors, product type and product category level. While product type had no significant impact on the effects of typicality, tests on product category level revealed enhanced effects for subordinate product categories.

Originality/value

The study provides a stepping stone towards the development of a general theory of COO. By testing the effects of a category‐based concept, typicality, in the context of the COO image, this study formally testifies the applicability of categorisation theories on COO effects, which may provide informative sources for the future development of COO studies. Based on the rationale of typicality, this study also tests the possible moderation effects of product types and category levels.
The “inverse care law” and infant mortality among Whites and Blacks in the United States
Authors: Ram Rati
Published: October 2011

Purpose

In the context of a much higher infant mortality rate (IMR) among Blacks than among Whites in the USA, the purpose of this paper is to compare changes in IMR in the two groups to judge whether the rates of decline are indicative of the so‐called Matthew‐effect or the inverse‐care principle, which, in contrast with the usual expectation of “diminishing marginal product,” suggests that higher level of IMR would be associated with a slower rate of IMR decline.

Design/methodology/approach

Changes in the IMR for each group over the period 1980‐2007 are studied. Levels and rates of decline in the two groups are compared for 1980‐1990, 1990‐2000, and 1980‐2007 for the USA. In addition, the levels and rates of decline in the two groups over these periods are also compared for each state.

Findings

Despite the much higher level of IMR among Blacks, the rates of decline in IMR over 1980‐1990, 1990‐2000, and 1980‐2007 are considerably lower for Blacks than for Whites when data for the entire USA are considered. Moreover, the same pattern is observed for a vast majority of the states in each period.

Originality/value

This is perhaps the only study that considers the possible operation of the inverse‐care principle relative to Black and White IMR in the USA over a fairly long period. The findings suggest several useful points. First, the pattern is consistent with the Matthew‐effect or the inverse‐care principle, and is not supportive of the usual expectation of “diminishing marginal product” in healthcare improvements. Second, the observed pattern seems to reflect poorer access of Blacks to prenatal, maternal, and infant healthcare. Third, it appears likely that, as suggested by Hart and indicated by recent research on increasing Black‐White IMR disparity, the pattern reflects a high degree of reliance on the market forces in healthcare provision and innovation, particularly relative to infant mortality. Fourth, in that context, greater role of the public sector in healthcare, particularly relative to IMR, might be given serious consideration. Fifth, given the observed pattern, the goal of eliminating racial disparities in IMR is unlikely to be met for a long time. Sixth, the relatively low‐international ranking of the USA in IMR, which has been declining, might not improve for quite some time.
Financial constraints, real options and corporate cash holdings
Authors: Ramezani Cyrus A.
Published: October 2011

Purpose

A large body of empirical literature has identified the key drivers of corporate cash holdings. The extant literature posits that the existence of real options significantly influences a firm's demand for liquidity. The literature, however, has relied on indirect proxies to assess this influence. The purpose of this paper is to provide a direct method for assessing this hypothesis. It is posited that firms with valuable real options hold excess cash and liquid assets, relative to firms lacking such opportunities.

Design/methodology/approach

The author utilizes a procedure originally proposed by Copeland and Antikarov to identify firms with valuable real options. This procedure assumes that an option's value will rise with its underlying uncertainty and with firm's managerial flexibility, i.e. discretion over the timely exercise of the option. Without a large cash hoard, a firm with “in‐the‐money” real options may face “financing constraints” that result in foregone or delayed exercise of these options. The author extends the Copeland and Antikarov procedure to account for the firm's financing constraints. Using data from a large sample of US companies, new insights are presented on how managerial flexibility, financing constraints, and the value of the firm's real options drive its cash holdings to levels that may appear to be “irrational,” if these factors are ignored.

Findings

Cash holdings are consistently higher for firms' valuable real options. All else being the same, financially unconstrained firms hold more cash. It is also shown that: an increase in a firm's weighted average cost of capital will lead to higher cash holdings; firms with higher market power (relative sales) hold less cash; and firms with less operational flexibility (higher fraction of fixed‐to‐total assets) hold less cash. Additional results are shown in the paper.

Research limitations/implications

The paper shows that the existence of valuable real options leads to an unambiguous increase in corporate cash holdings. Whether this addition to firm's cash holdings is capitalized into its equity price is an open and challenging question that deserves further study. Other promising areas for improving this line of research include: developing other measures of managerial flexibility; partitioning the volatility‐flexibility into high, intermediate, and low categories (like the Kaplan and Zingales index); and expanding the analysis to cover a longer time period. The author believes that the results are robust and will be confirmed with these and other extensions.

Originality/value

This is the first paper that considers the effect of a firm's real options on its demand for liquid assets and cash.
Does local news matter to investors?
Authors: Deshpande Shreesh , Svetina Marko
Published: October 2011

Purpose

Recent research on local bias provides evidence that investors' portfolios include a non‐negligible allocation to stocks in firms that are geographically proximate to the investors. The reasons postulated for local bias include familiarity with firms, “word‐of‐mouth” communication effects, and ability to exploit local news. The purpose of this paper is to investigate the value‐relevance of local news, specifically earnings announcement surprises, in the context of the well‐documented local bias in investors' portfolios.

Design/methodology/approach

Using a hand‐collected panel dataset spanning 15 years of quarterly earnings announcements of publicly traded firms, abnormal stock returns engendered by earnings surprises based on local newspaper announcements are compared to those from earnings surprises based on financial analysts' forecasts (I/B/E/S).

Findings

In contrast to the case, when both sources of earnings surprises are negative, the authors find a statistically significant differential stock price effect in a sample where local firms' earnings announcements in the local newspaper signal positive earnings surprises, but the earnings surprise based on financial analysts' forecasts is negative. This result remains after controlling for time‐ and firm‐fixed effects. In additional tests, the authors establish that the result is predicated on a local firm's earnings announcement being reported in the local newspaper.

Originality/value

The paper's findings suggest that the results of empirical research on the information content of earnings surprises based solely on analysts' forecasts should be interpreted with caution. It was found that the stock price impact of earnings surprises is also significantly influenced by local newspaper reports of the announced quarterly earnings of local firms.
Investor sentiment and the market reaction to dividend news: European evidence
Authors: Simões Vieira Elisabete
Published: October 2011

Purpose

The purpose of this paper is to examine the effect of investor sentiment (ISENT) on the market reaction to dividend change announcements.

Design/methodology/approach

The author used the European Economic Sentiment Indicator data, from Directorate General for Economic and Financial Affairs, as a proxy for ISENT and focus on the market reaction to dividend change announcements, using panel data methodology.

Findings

Using data from three European markets, the results indicate that ISENT has some influence on the market reaction to dividend change announcements, for two of the three analysed markets. Globally, no evidence was found of ISENT influencing the market reaction to dividend change announcements for the Portuguese market. However, evidence was found that the positive share price reaction to dividend increases enlarges with sentiment, in the case of the UK markets, whereas the negative share price reaction to dividend decreases reduces with sentiment, in the French market.

Research limitations/implications

The author had no access to dividend forecasts, so, the findings are based on naïve dividend changes and not unexpected change dividends.

Originality/value

This paper offers some insights on the effect of ISENT on the market reaction to firms' news, a strand of finance that is scarcely developed and contributes to the analysis of European markets that are in need of research. To the best of the author's knowledge, this is the first study to analyse the effect of ISENT on the market reaction to dividend news, in the context of European markets.
The management of e‐book collections and their implication on the economic management of the library
Authors: Lloret Romero Nuria
Published: October 2011

Purpose

The addition of digital formats such as specialised magazines and e‐books to libraries has led to a dramatic change in management format with respect to those involved in the reading process: users, publishers, distributors, booksellers, and authors; and in turn, the way in which libraries are planned and managed. This article aims to focus on these issues.

Design/methodology/approach

The paper analyses the implementation of e‐books and the relevant literature on the implementation of electronic books, not only in the library field but in other sectors. The article uses various sources to offer conclusions on the interest not only economic but also to improve the quality of service offered by its implementation in libraries or centers of documentation.

Findings

Not only is there space‐saving in libraries but also a new manner in which to consume information that libraries must adapt to as soon as possible given the increasing demands of users in this connection. All of the previous has given rise to changes in the economic management of libraries.

Originality/value

These changes must be assessed before making a decision regarding the purchase of e‐book collections and their subsequent organization and management, which indirectly change many of the tasks currently carried out by library staff members, thereby optimizing times and processes for the benefit of increased visibility of the electronic collection.
Let them see change
Authors: Lund James R.
Published: October 2011

Purpose

The purpose of this paper is to encourage annual dramatic visual change.

Design/methodology/approach

The author incorporates principles of retail merchandising and his experience in retail grocery to make the argument for annual dramatic visual change.

Findings

A recent reset of the children's collection led to increased circulation, improved staff contact with patrons, and a project narrative to share with elected officials.

Originality/value

The paper offers anecdotal evidence from a unique experience as a grocery retail clerk that annual dramatic visual change boosts the library's status in the community.
Greener library printing and copying
Authors: Kruse Ted
Published: October 2011

Purpose

Libraries have a variety of computer printers, faxes, network printers and photocopiers. All these machines have an environmental impact using paper, ink and electricity. This paper aims to discuss strategies for lessening the impact of these devices.

Design/methodology/approach

The paper provides a “how‐to” approach for librarians to achieve greener printing and copying.

Findings

Modification in library procedures can result in greener printing and copying.

Originality/value

The paper reviews the research on greener printing and provides practical suggestions for achieving greener printing and copying.
As frames collide: making sense of carbon accounting
Authors: Ascui Francisco , Lovell Heather
Published: October 2011

Purpose

The purpose of this paper is to make sense of the tensions and contradictions between different conceptions of the meaning of carbon accounting.

Design/methodology/approach

The paper draws on theories of framing to help explain the divergent understandings and practices currently encompassed by the term “carbon accounting”. The empirical core of the paper is based on a review of the literature and illustrated through examples of some of the contemporary problems in carbon accounting.

Findings

Tensions and contradictions in carbon accounting can be understood as the result of “collisions” between at least five overlapping frames of reference, namely physical, political, market‐enabling, financial and social/environmental modes of carbon accounting.

Practical implications

Unresolved tensions in carbon accounting can undermine confidence in climate science, policies, markets and reporting, thereby ultimately discouraging action to mitigate climate change. Understanding this problem can contribute to finding practical solutions.

Originality/value

The paper makes three distinct contributions to the emerging theoretical literature on carbon accounting. First, it provides a unique “unpacked” definition of carbon accounting that attempts to represent the contemporary range of meanings encompassed by the term. Second, it demonstrates how social science ideas about framing can help explain why definitions and understandings of carbon accounting vary. Third, by making the interactions between different forms of carbon accounting explicit through the metaphor of colliding frames of reference, the origins of some of the contemporary intractable issues in carbon accounting can be better understood.
Carbon accounting
Authors: Bowen Frances , Wittneben Bettina
Published: October 2011

Purpose

A fully functioning carbon accounting system must be based on measurement that is materially accurate, consistent over space and time, and incorporates data uncertainty. However, achieving these goals is difficult because current carbon accounting efforts are spread across three distinct organisational fields, each prioritising different goals. This paper aims to address these issues.

Design/methodology/approach

The authors identified three fields drawn together by the science of how carbon emissions can be measured, the social practices of carbon accounting, and accountability within the global carbon governance system. The authors hosted a workshop, and invited representatives participating in each of the organisational fields to highlight the contentious conversations within their field. The authors facilitated an across‐field exploration of whether and how to achieve accuracy, consistency and certainty in carbon accounting.

Findings

It was found that there are tensions between accuracy, consistency and certainty in carbon accounting both within and across organisational fields. Framing the evolution of carbon accounting as negotiation between these goals across fields yields powerful implications for addressing current challenges in carbon accounting.

Practical implications

The authors provide guidance to policymakers on how to recognise legitimate uncertainty in carbon management science, manage the cost‐benefits of policy and reporting mechanisms, and ensure actual greenhouse gas emissions reductions.

Originality/value

This paper exploits the unusual approach of integrating carbon accounting across levels of analysis, from the molecular level through processes, organisations, industries and nations. This approach should help scientific, corporate and policy decision‐makers move towards a more fully functioning carbon accounting system.