bluuebunny/crossref_metadata_2025 huggingface dataset:
Opening interlibrary loan to open access
Authors: Baich Tina
Published: February 2012

Purpose

The purpose of this paper is to examine interlibrary loan requests for open access materials submitted during fiscal years 2010 and 2011 and to determine the impact of open access materials upon fill rate for interlibrary borrowing requests.

Design/methodology/approach

Borrowing requests for open access materials were quantitatively analyzed and compared to total borrowing requests.

Findings

During the period studied, borrowing requests for open access materials increased while overall requests held steady. As the number of requests filled with open access documents continues to rise, Indiana University‐Purdue University Indianapolis University Library is able to provide a service to users and cost savings for the library by utilizing this material. The difficulty users have in navigating the online information environment makes it unlikely that interlibrary loan requests will decrease due to the growing amount of open access material available.

Originality/value

The literature discussing the use of open access materials to fulfill ILL requests is limited and largely focuses on educating ILL practitioners about open access and providing suggested resources for locating open access materials. This research paper studies actual requests for open access materials and their impact on interlibrary loan.
Interlending and document supply: a review of the recent literature: 77
Authors: McGrath Mike
Published: February 2012

Purpose

The purpose of this paper is to review the current LIS literature for document supply and related topics.

Design/methodology/approach

The paper is based on the reading of about 150 journals, reports and web sites.

Findings

This study finds that the prices of the big deals are under greater attack than ever. Alternatives are being actively explored. A more assertive approach is being adopted to expand the role of open access. Resistance is growing, particularly in the UK, to the publishers' ability to override copyright law in their contracts with libraries.

Originality/value

This is the only regular literature review that focuses on document supply.
The effect of response scale type on cross‐cultural construct measures
Authors: Reardon James , Miller Chip
Published: February 2012

Purpose

Methodological advances in cross‐cultural scale development have addressed many concerns regarding the development of valid scales. However, several issues remain to be examined – including the potential problems of using language to measure communication phenomena using self‐reported studies and addressing the effect of response scale type on the validity of resultant measures. The purpose of this paper is to expand the cross‐cultural measurement paradigm by comprehensively examining these issues and suggesting a new response scale type that may potentially produce more valid cross‐cultural measures of communication‐based phenomena.

Design/methodology/approach

Measures of Hall's concept of context were developed using three types of response scales – Likert, semantic differential, and conceptual metaphoric. The last response scale type is developed within this research. Samples were gathered in 23 countries using existing scale development procedures. The response scales were compared for psychometric properties and validity based on reliability, metric invariance, response styles, and face validity.

Findings

Overall all three response scale types adequately measured the construct of context. The newly developed conceptual metaphoric scale performed marginally better on most comparative metrics.

Practical implications

International marketers measure a host of variables related to culture for many purposes. The new response scale type may provide slightly better measures to more accurately reflect communication based constructs – many of which are central to marketing.

Originality/value

The findings indicate that the new conceptual metaphoric response scale type may overcome some existing biases inherent in standard response scale types. In addition, this research provides the first viable and parsimonious measure of Hall's concept of context.
A contingency approach to international marketing strategy and decision‐making structure among exporting firms
Authors: Chung Henry F.L. , Lu Wang Cheng , Huang Pei‐how
Published: February 2012

Purpose

Although the relation between standardization/adaptation strategy and performance has been extensively examined in the international marketing literature, the findings concerning these factors are still inconclusive. The conflicting results might relate to the analysis approach adopted in prior research, which tends to focus on the direct effect of marketing strategies. By utilizing the contingency theory, the purpose of this paper is to uncover the moderation factors for the strategy‐structure‐performance paradigm in the export sector. Internal, external and product‐related factors are explored.

Design/methodology/approach

This study focuses on four strategy and structure combinations: The global approach (standardization‐centralization); the glocal approach (standardization‐decentralization); the regcal approach (adaptation‐centralization); and the local approach (adaptation‐decentralization). The interactive effect of the four approaches and a set of contingent factors are examined based on the experience of 151 exporting firms operating in the EU region. The respondent firms operate in various manufacturing and service industries.

Findings

It is revealed that firm size, international business experience, consumer characteristics, the legal environment, cultural distance and the nature of the products play a moderating role between a firm's adoption of a particular approach and its performance, as measured by market share and sales growth, dependent on the relevant marketing program elements (i.e. product, price, promotion and place).

Originality/value

The research findings presented in the paper have significant implications for future research and strategic application.
Does firm location make a difference to the export performance of SMEs?
Authors: Freeman Joanne , Styles Chris , Lawley Meredith
Published: February 2012

Purpose

The purpose of this research is to explore how location – regional vs metropolitan – impacts a small to medium‐sized enterprise (SME)'s access to firm resources and capabilities, and in turn its export performance.

Design/methodology/approach

This study involved collecting qualitative data from an expert panel of government trade advisors, as well as managers of SME exporters in Australian regional and metropolitan areas. The data were used to explore three propositions relating to the impact of location.

Findings

The data provides support for the propositions that location impacts SME exporters’ access to networks and export related infrastructure/services, and in turn export performance. Firms in metropolitan areas have an advantage over those in regional areas. However, contrary to expectations, the relatively lower level of competition in regional areas did not appear to have a negative impact on the export performance of firms located in these areas.

Research limitations/implications

The study confirms the importance of exploring the impact of location on export performance. However, the exploratory nature of the study means that results cannot necessarily be generalised beyond the setting in which the data were collected. Future research should examine the impact of location for exporters in a broader sample of countries.

Practical implications

The disadvantages for SME exporters located in regional areas that come from a lack of networks and export related infrastructure/services need to be recognized and addressed by the managers of SME exporters and their advisors. The study also highlights the importance of the location decision for these firms.

Originality/value

This study is one of the first to explicitly focus on the impact of location on the export performance of SMEs. While exploratory in nature, it highlights the need for further research to better understand this potentially critical moderating variable and both its practical and theoretical implications.
Level of analysis in export performance research
Authors: Oliveira João S. , Cadogan John W. , Souchon Anne
Published: February 2012

Purpose

The purpose of this paper is to provide researchers and journal reviewers with guidance regarding the appropriate level of analysis when developing and testing theory on export performance determinants. The authors’ focus is on the implications this has for the measurement of export performance.

Design/methodology/approach

The paper takes the form of an essay.

Findings

Researchers should measure export performance at the level at which the theory is developed. Most export performance theory developed is inherently export function level theory, requiring export function level measurement of performance. Less commonly, researchers may develop theory at the intra‐firm level, which requires performance data from multiple export ventures within firms for theory testing purposes. Researchers rarely have cause to collect data from a single export venture from firms, since data at this level are unlikely to generalize to the firm as a whole, and may lead to a biased picture of the determinants of overall export performance.

Originality/value

Researchers sometimes find that their passage to publication is blocked by reviewers who insist that measurement of export performance should occur at an incorrect level. Typically, the reviewer demands export performance assessment at the export venture level when the theory being tested is inherently an export function level theory. In this paper, the authors hope to correct poorly informed opinion regarding the use of venture level export performance measures, and encourage the use of measures of export performance that match the theory being tested.
Share of wallet in retail banking
Authors: Baumann Chris , Hamin Hamin , Tung Rosalie L.
Published: February 2012

Purpose

This study aims to investigate investing and borrowing behavior in retail banking between ethnic groups, specifically the Caucasians vis‐à‐vis the Chinese.

Design/methodology/approach

A total sample of 645 Caucasians and Chinese in Australia, Canada and China were tested for their level of business assigned to their main banks, defined as share of wallet (SOW) in this study. The study applied multivariate analyses.

Findings

No significant differences were found between the ethnic Chinese in Australia and Canada in comparison to their counterparts in mainland China, or compared with the Caucasians in Australia and Canada. This finding of convergence suggests that ethnic Chinese have adapted to the local banking behavior. The ethnic Chinese in Australia and Canada assigned 81‐88 percent of their assets to their main banks, in comparison to only 72 percent for their counterparts in China and 73 percent for the Caucasians. As such, the ethnic Chinese in Australia and Canada have developed their own unique behavior, resulting in crossvergence: an over‐adaptation to local behavior in managing their assets, and a mid‐way approach between the Chinese in China and the local Caucasians when it comes to borrowing money.

Practical implications

For bank marketing managers, this form of crossvergence constitutes a challenge as it suggests that gaining the trust of Chinese customers is complex since the SOW is lowest in the booming emerging market (i.e. China) whereas ethnic Chinese consumers in Western markets have formed their own unique pattern of allocating business to their banks. “Ethnic banking” is suggested to offer tailored services to ethnic groups in order to satisfy their specific money management.

Originality/value

This study establishes that Chinese consumers in Western markets are a distinct consumer group. Products and services need to be specially customized to suit their wants and needs.
Incentive contracts and time pressure on audit judgment performance
Authors: Lee Hua
Published: February 2012

Purpose

The purpose of this paper is to explore the effects of varying motivation induced by financial incentives and common uncertainty caused by time pressure on audit judgment performance.

Design/methodology/approach

The experimental method is used to examine how financial incentives and time pressure affect audit performance, based on predictions by both economic and behavioral theories. The relative performance contract and the profit sharing contract are two incentive schemes considered. To achieve the incentive effect on subjects when conducting the experiment, all subjects were compensated with real cash rewards, according to their incentive contracts as randomly assigned.

Findings

As predicted, major results show that both incentive contract and time pressure affect audit judgment performance. The audit performance is generally better under the relative performance contract than under the profit sharing contract. Additionally, it is demonstrated that an increase in the level of time pressure significantly improves recall, recognition, and total efficiency under both types of incentive contracts, but impairs recall and total performance, particularly under the relative performance contract. Moreover, the reduction of recall and total performance under the relative performance contract is significantly greater than under the profit sharing contract. Nevertheless, in this case, the relative performance contract still outperforms the profit sharing contract.

Research limitations/implications

The findings suggest the relative superiority of the relative performance contract in comparison with the profit sharing contract in improving auditors' judgment performance for structured tasks.

Practical implications

The relative performance contract would motivate junior auditors to exert more effort to increase their performance in the work environment of increased time pressure. The audit firms may incorporate relative performance evaluations into incentive schemes, to improve junior auditors' performance for structured tasks.

Originality/value

The paper is of value to audit firms in the design of performance‐contingent incentive contracts.
Euro adoption and the quality of accounting information
Authors: Dimitropoulos Panagiotis E. , Asteriou Dimitrios , Siriopoulos Costas
Published: February 2012

Purpose

The purpose of this paper is to consider the impact of the drachma's replacement by the euro on the quality of accounting information published by Greek listed firms.

Design/methodology/approach

The authors examined how the adoption of the euro currency impacted on the timeliness of income recognition and the relevance of accounting information during the pre and post euro adoption periods using a sample of 176 listed firms over the period 1995‐2008.

Findings

Convincing evidence was found that the euro contributed to a decrease on the value relevance of accounting information, an increase in the conservatism of financial statements and finally a reduction in the earnings management behavior of managers.

Practical implications

By considering the impact of the common currency on the quality of accounting information, analysts are more able to provide accurate estimates on firms' future prospects, thus contributing to less information asymmetries among stock market participants.

Social implications

The results could be proved useful to regulators since they indicate that financial accounting information prepared after the adoption of the euro currency has inferior value relevance. Therefore, if regulators want to develop an efficient financial market they need to address this effect by developing relative legislation that promotes the quality of accounting information.

Originality/value

The majority of studies on the issue of the euro have focused on matters of macroeconomic stability, corporate investments and valuation and market integration. No research until now has studied the impact of euro adoption on the quality of accounting information and how accounting quality is perceived by market participants during the pre and post‐euro adoption periods.
Development and democratization from the perspective of Islamic world view
Authors: Huq Pramanik Ataul
Published: February 2012

Purpose

The issue of democracy and development interrelationship is very complex and debatable. There does not seem to exist any automatic relationship between them and the purpose of this paper is to analyse the relationships of democracy with civil society and development based on Islamic World View.

Design/methodology/approach

A theoretical approach has been developed to examine how stable democracies and sustainable human development can be attained only with a balanced combination of the involvement of state and society to ensure socially most desired goods and services based on the theory of choice. The empirical evidence is used to show how the democracy can be promoted in terms of creating proper conditions that can empower the people to form civil society to press for democratization, using self‐expression values compatible to shura.

Findings

The paper concludes that democracy must be homegrown and cannot be implanted by external forces by “Iraqi‐style invasion”.

Originality/value

An original study on the interrelationship between state and civil society in the Arab world, within the context of Islam.
And … it's gone: the economics of South Park's Margarita (housing bubble) episode
Authors: DiIorio Peter , Block Walter E.
Published: February 2012

Purpose

The purpose of this paper is to analyze South Park's take on the causes of the recession and the housing bubble.

Design/methodology/approach

The essay describes the events in the South Park episode and compares them to the respective events of the recession and the housing bubble.

Findings

The authors found that the creators of South Park, albeit only a cartoon, were amazingly accurate in their assessment of the real world issues concerning the recession and the housing bubble.

Research limitations/implications

The recession was caused by the Federal Reserve System artificially lowering interest rates, which led to malinvestments in round about directions (housing); this was exacerbated by HUD, CRA, Fannie, Freddie and other governmental subsidies, regulations which also led to the overbuilding of housing. Further research should delve into these causes of the difficulties.

Practical implications

The South Park episode, and this paper, serve as an example of what not to do.

Originality/value

South Park has been written by libertarians who are sympathetic to Austrian economics. The paper traces out this thesis with regard to the Margarita episode which deals with the housing bubble and its contribution to the present recession.
Other customers in a service encounter: examining the effect in a restaurant setting
Authors: Kim Namin , Lee Moonkyu
Published: February 2012

Purpose

The purpose of this paper is to identify how the mere presence of other customers in a service encounter influences customers' evaluations of restaurant services.

Design/methodology/approach

Phenomenological interviews were used to reveal the dimensions of other customers and to develop hypotheses on the moderating variables that influence the effect of other customers. A scenario‐based experiment was used to test the hypotheses.

Findings

The analysis reveals that “other customers” is a multidimensional construct consisting of number, age, gender, appearance, attire, and public behavior. Also, the importance of each dimension varies according to situational variables such as evaluation stages (pre‐ versus post‐encounter stages), the context of a visit (task‐ versus recreational‐orientations), and the quality‐related risks (high versus low).

Practical Implications

The study provides a rationale for service providers to strategically manage their customers. It also gives guidelines of how customers should be “managed”.

Originality/value

The present study is meaningful in the sense that it is one of the first empirical studies which concentrated on the passive role (mere presence) of other customers in a service encounter. The dimensions of other customers and the moderating variables revealed are expected to stimulate further research in the area.
Explanations: if, when, and how they aid service recovery
Authors: Bradley Graham , Sparks Beverley
Published: February 2012

Purpose

This study aims to investigate if, when, and how the use of four different types of explanations affect customer satisfaction after a service failure.

Design/methodology/approach

The study used written scenarios of a hypothetical service failure to manipulate explanation type, failure magnitude and compensation offered. Participants were randomly assigned to read and respond to one version of the scenario, whilst imagining they were the customer experiencing the service failure.

Findings

The paper finds that explanation type, explanation quality, failure magnitude and compensation each had significant effects on customer evaluations. Explanation type and explanation quality interactively affected the extent to which customers were satisfied with service recovery: Apologies and excuses yielded higher satisfaction levels than did justifications and referential accounts but only when the explanations were perceived to be of high (vs low) quality. Specific types of attributions and forms of justice were shown to mediate the effects of three of the explanation types.

Practical implications

The study shows that customer evaluations following service failure vary with the type of explanation provided. Service firms need to provide an explanation in such circumstances, preferably a high quality excuse or apology, and need to understand the “process variables” that determine whether the explanation will satisfy aggrieved customers.

Originality/value

This is one of very few studies that have compared the efficacy of different types of explanations in service situations. The research sheds light not only on what types of explanations work best, but also on how they have their effect.
Fan identification, Schadenfreude toward hated rivals, and the mediating effects of Importance of Winning Index (IWIN)
Authors: Dalakas Vassilis , Phillips Melancon Joanna
Published: February 2012

Purpose

The purpose of this paper is to explore potential negative outcomes of high fan identification as well as to identify the causal mechanism or mediator by which high identification may result in such negative responses.

Design/methodology/approach

A scale development process was used to develop a new mediating construct for the fan identification literature, the Importance of Winning Index (IWIN). Structural equations modeling was used to analyze the surveys.

Findings

The IWIN construct represents a new and distinct construct from fan identification. Additionally, IWIN mediates the relationship between fan identification and negative outcome behaviors, thus serving as an explanatory mechanism of when fan identification can produce negative behaviors (in this study Schadenfreude, or wishing ill/harm on rivals).

Research limitations/implications

A student sample and limitation to one context of negative outcomes leaves opportunities for future research to assess the generalizability of these results across various populations and contexts.

Practical implications

Schadenfreude is manifested toward a variety of targets associated with a rival team, including the team's sponsors. Companies should be cautious when selecting what teams they sponsor so that they do not alienate potential consumers who are fans of rival teams. Moreover, the study raises important ethical and social responsibility issues with broader implications suggesting that sports organizations need to promote strong identification among their fans in a responsible manner.

Originality/value

This article is one of few studies that addresses the adverse effects of a highly identified fan/customer base and extends the identification literature by introducing a new variable (IWIN) that mediates the relationship between identification and negative outcomes.
Resourcing for post‐disaster reconstruction: a comparative study of Indonesia and China
Authors: Chang Yan , Wilkinson Suzanne , Potangaroa Regan , Seville Erica
Published: February 2012

Purpose

There is a need to understand resourcing issues when reconstructing the built environment in a post‐disaster situation. The purpose of this paper is to determine the resourcing difficulties that are likely to face the international practitioners in post‐disaster reconstruction by identifying and comparing the factors that affected resource availability following natural disasters in Indonesia and China respectively.

Design/methodology/approach

The research methodology included field‐based questionnaire surveys, semi‐structured interviews and observations. A comparative analysis was used to extract similarities and differences with regard to resourcing approaches in Indonesia and China.

Findings

Despite the different resourcing approaches adopted in Indonesia and China in their recovery from large‐scale disasters, there are common issues facing post‐disaster reconstruction stakeholders, including competence of the implementing agencies, capacity of transportation, governance and legislation, and market conditions. Specifically, community‐related housing features played a dominant role in donor‐driven resourcing practice in post‐Indian Ocean tsunami reconstruction in Indonesia, whereas factors related to project control and management primarily contributed to resourcing performance of Chinese reconstruction specialists following the Wenchuan earthquake.

Research limitations/implications

To solve resourcing problems, countries need to create an enabling environment and build institutional capacity. The cross‐cultural comparative analysis encourages policy makers and practitioners to exchange experiences from recent recovery operations.

Originality/value

The paper illustrates the infrastructural and institutional weaknesses that hindered effective resource procurement during post‐disaster reconstruction in Indonesia and China. The research findings show common areas in need of improvement in other disaster prone countries, along with the issues to be addressed in the donor‐led or contractor‐led resourcing practice in the two studied countries.
Community‐based monitoring for flood early warning system
Authors: Abon Catherine C. , Primo C. David Carlos , Tabios Guillermo Q.
Published: February 2012

Purpose

The purpose of this paper is to integrate the proactive role of communities and the use of flood modeling in the implementation of a flood early warning system.

Design/methodology/approach

Manual rain gauges were installed in 20 houses of volunteers living within the Bicol River basin to monitor rainfall. Rain information is sent twice daily via SMS message to a receiving computer. The received data are used to run a basin model that was developed in HEC‐HMS, which converts precipitation excess to overland flow and channel run‐off.

Findings

Different watershed models were developed for different rainfall events. Geomorphic analysis using 3 s SRTM Digital Elevation Model (DEM) processed in a GIS platform was also done to refine the overland flow. The derived hydrographs were used in the HEC‐RAS hydraulic model which has as main output threshold values for the rain‐flood relationship.

Research limitations/implications

Although SRTM DEM that was used for the geomorphic analysis was sufficient for the purpose of the study, higher resolution DEMs can further improve the mapping of spatial extent of flood areas.

Practical implications

The results are used for the forecast of flood and the timely issuance of flood bulletins.

Originality/value

This study is the first to incorporate the involvement of the community in establishing a flood early warning system. The method can also be used as a prototype for other flood models in other parts of the country.
Integrated model combined land‐use planning and disaster management
Authors: Wang Jieh‐Jiuh
Published: February 2012

Purpose

The frequency with which hazards turn to disasters is soaring. Besides the factor of climate variation, errors of decision making during planning are the critical factors. Hence, the purpose of this paper is to focus on exploring the relationship between land use planning, development, and disaster management.

Design/methodology/approach

This study takes hazardscape as the basis of a dialogue platform for land use planning and disaster management. The first portion of this study is to discuss the needed disaster management items in the planning process through thematic analysis; the second portion is to construct the relationship between disaster management and land use planning by the paired comparison method.

Findings

This study proposes the model for integrating planning and disaster management as the foundation of interdisciplinary collaboration. The phase of site choosing and assessment is the most critical point for starting the works of disaster prevention. The major works includes all‐hazard identification/hazardscape analysis and physical vulnerability: damage potential assessment.

Practical implications

This model is helpful to apply to land‐use decision making for evaluating the issues concerning disasters, and avoiding the increasing loss of lives and property. As the next step, attributes of people and environments and assessment techniques from different disciplines can also be included in the model, to achieve the ultimate goal of an environment.

Originality/value

Should disasters strike despite all relevant measures, the associated planning programs monitored and reviewed to enable necessary adjustments.
Student councils: a tool for health promoting schools? Characteristics and effects
Authors: Griebler Ursula , Nowak Peter
Published: February 2012

Purpose

Participation is a core value for health promoting schools. Student participation at schools is often implemented in various forms of councils. The aims of this article are to summarise the effects of student participation in student councils, to show who benefits most and to discuss characteristics that make student councils effective.

Design/methodology/approach

The article is based on a recently conducted systematic literature review. Nearly one third of all included cases were dealing with student participation in the form of student councils. The authors conducted a qualitative analysis of the diverse effects and characteristics of student councils.

Findings

Effects of student participation in student councils can be categorised into personal effects on students, effects on interactions and on the school as an organisation. Students actually participating in councils, i.e. the student representatives, benefit most in terms of personal effects (e.g. increasing life skills, self‐esteem, developing democratic skills) and in terms of improvements in peer relationships or student‐adult relationships. All students benefit from improvements in the physical or social environment of the school. The characteristics that potentially make student councils successful concern the council composition, election procedures of representatives, positions and procedures and frequency and timing of council meetings, communication between council and the student body or other actors, the decision‐making power of the council, supportive school context and training of councillors and staff.

Originality/value

This is the first systematic synthesis of research conducted on effects of student participation in student councils. The article discusses the potential of student councils for strengthening the whole‐school approach to health promotion.
What do health‐promoting schools promote?
Authors: Simovska Venka
Published: February 2012

Purpose

The editorial aims to provide a brief overview of the individual contributions to the special issue, and a commentary positioning the contributions within research relating to the health‐promoting schools initiative in Europe.

Design/methodology/approach

The members of the Schools for Health in Europe Research Group were invited to submit their work addressing processes and outcomes in school health promotion to this special issue of Health Education. Additionally, an open call for papers was published on the Health Education web site. Following the traditional double blind peer review process, nine submissions were accepted for publication. Five of these are selected to be published in this issue and the rest will be published in a future issue of the journal.

Findings

The five articles in this issue take a comprehensive approach to health promotion in schools and reflect on the related processes and outcomes. Although diverse in focus and research methodology, the five contributions all emphasise that the question about the outcomes of the health‐promoting schools cannot, and should not be limited to narrowly defined health outcomes achieved through single health‐promotion interventions. Directly or indirectly the articles reiterate the idea that health promotion in schools needs to be linked with the core task of the school – education, and to the values inherent to education, such as inclusion, democracy, participation and influence, critical literacy and action competence in relation to health.

Originality/value

This special issue endorses the idea that health promotion in schools would do well to reconnect with the traditions of educational theory and to develop innovative forms of educational practices and interventions in the face of complex societal challenges concerning health and health promotion. It can be beneficial for stakeholders who work towards school based health promotion, assisting them in bridging the gap between health and education sector.
Bank regulation, governance and the crisis: a behavioral finance view
Authors: Grosse Robert
Published: February 2012

Purpose

The purpose of this paper is to analyze the 2008‐2009 financial crisis using a behavioral view, and suggest changes in government policy and company governance to deal with the key behavioral problems.

Design/methodology/approach

Behavioral elements of the crisis are identified and explained, intermediaries involved in the crisis are reviewed, and both financial institution strategies and public policies are presented to deal with each element.

Findings

The behavioral view of the financial market points out that over‐optimism, anchoring, hubris and herd behavior are human attributes, and that future crises involving excessive credit extension will occur because of such non‐rational behavior. Responses to these elements of the crisis focus on four points: overconfidence related to rising home prices; inability of the market to channel participant behavior in sustainable directions; inadequate financial institution management due to hubris and herd behavior; and inadequate regulation due to regulatory capture and information gaps.

Practical implications

Policymakers must see that no policy can eliminate future crises, so they should focus on designing responses to the behaviors of market participants. Raising levels of capital adequacy will help convince the market that the environment is safer, but ultimately new crises will occur anyway. Policy should aim to pre‐establish responses to those future asset price bubbles and market‐failure conditions. Practitioners must recognize the realities of overconfidence and herd behavior, to design better management that will constrain overextension of credit and excessive risk‐taking.

Originality/value

A behavioral view has not previously been applied systematically to explain the crisis and to develop responses to it.
Does CEO duality affect corporate performance? Evidence from the US banking crisis
Authors: Carty Robert , Weiss Gail
Published: February 2012

Purpose

The global financial crisis of 2008 raises many governance questions regarding the roles and responsibilities of executives and board members. Simultaneously, CEO duality in the USA and elsewhere has come under renewed scrutiny because of the perceived loss of checks and balances and resultant abuse of power. The authors suggest that the financial crisis presents a unique opportunity to explore the effects of, and attitudes, to CEO duality. The purpose of this paper therefore is to investigate whether CEO duality is associated with bank failure and whether bank regulators, as can be expected, are opposed to CEO duality.

Design/methodology/approach

The authors investigated the correlation between CEO duality and publicly traded banks in the USA that received Federal bailout funds, using available databases, and investigated bank regulators' attitudes to CEO duality using a series of structured interviews.

Findings

No correlation was found between bank failure and CEO duality. However, a strong correlation was found between bank ownership and receipt of Federal bailout funds in that publically owned banks were far more likely to have received bailout funds than banks which were privately owned. Surprisingly, it was also found that Regulators accepted CEO duality for several reasons and have no agenda to limit it.

Practical implications

The results suggest that CEO duality is a less significant issue factor in corporate management than suggested by many previous researchers and policy makers. This has clear implications for governance, regulation and legislation.

Originality/value

This study is the first to investigate the relationship between bank performance and CEO duality. The authors' results suggest that whilst there may be many good reasons for limiting CEO duality, the key measure of adverse effects on corporate performance in this sector is not one of them.
Private action as a remedy against market manipulation in the USA
Authors: Alkhamees Ahmad
Published: February 2012

Purpose

The purpose of this paper is to examine the appropriateness and effectiveness of using the right of private action against perpetrators of market manipulation.

Design/methodology/approach

The author examines legislation in the USA, which gives victims the right to pursue private legal action against market manipulators, and discusses the eligibility criteria that plaintiffs have to meet before they are allowed to pursue private proceedings.

Findings

In spite of the importance placed on private claims by courts, regulators and legal firms in the USA, research has shown that relying on this type of redress alone, is fraught with difficulties as it may not be appropriate in a modern day economic climate, because the doctrines of the law of tort, such as reliance and causation, are ill‐suited to the impersonal nature of financial market trading. Common law tort has placed obstacles in the way of effective private civil action, making it inconvenient for those wishing to pursue this route to do so.

Practical implications

The study concludes that private action can work as a secondary or tool against market manipulation, but it cannot replace or reduce the power of public enforcement.

Originality/value

The study examines in detail the experience of the USA in using private action as a remedy against perpetrators of market manipulation. It discusses the eligibility criteria that plaintiffs have to meet before they are allowed to pursue private proceedings. It addresses the question of whether other countries such as the UK should use private enforcement against market manipulation.
The effects of violating banking regulations on the financial performance of the US banking industry
Authors: Jamal Zeidan Mohamad
Published: February 2012

Purpose

The purpose of this paper is to examine the effects of corporate illegality on financial performance within the banking industry, in order to assess whether the regulatory framework is effective in curbing violations.

Design/methodology/approach

The operating performance of 84 publicly traded US banks that were subject to enforcement actions from US regulatory authorities over a 20‐year period were examined. Performance of each violating bank was analyzed several quarters after each violation and compared to a performance benchmark of non‐violating competitors.

Findings

Contrary to prior studies that show a negative effect of illegality on performance, the results of this investigation failed to show any significant and sustained effect of enforcement actions. This could be due to the unique situation of the banking industry. Nevertheless, the degree of impact depended on firm attributes, as smaller and riskier firms were affected more than others.

Research limitations/implications

The paper is restricted to the US market, which is characterized by a special regulatory framework. Future research could investigate the issue in other markets. Also, this study does not differentiate with respect to the type of violation or seriousness of offense. Future studies could control for those issues.

Practical implications

The results of this study shed some insight on the effectiveness of regulations in the banking industry and suggest that regulators and policy makers should tighten‐up the sanctions and speed‐up the process.

Originality/value

This paper differs from other studies that investigate the effect of illegality on financial performance by focusing on a single and highly regulated industry that has unique characteristics.
The efficacy of Regulation SHO in resolving naked shorts
Authors: Moffett Clay M. , Brooks Robert , Jeon Jin Q.
Published: February 2012

Purpose

On January 3, 2005, Regulation SHO was implemented by the Securities and Exchange Commission, with the express purpose of updating short sale regulation by seeking to limit an abusive short selling practice known as naked short selling. The purpose of this paper is to examine the efficacy and impact of Regulation SHO in achieving this goal of reducing naked shorting.

Design/methodology/approach

Time series analysis using fixed effects regression, Fama‐French‐Carhart model, various parametric and non‐parametric tests. The paper tests a number of hypotheses regarding the effectiveness of Regulation SHO in controlling naked shorts/fails‐to‐deliver in the American stock markets.

Findings

Utilizing several models, the authors find strong evidence in the first 30 to 60 days after being identified by Regulation SHO as having excessive naked short positions, those securities on average experienced further significant negative abnormal returns, indicating the regulation was at best ineffective. This result is robust for a number of parametric and non‐parametric tests. Models also show a security identified by Regulation SHO as having an excessive short position may actually suggest a profitable trading strategy of continuing to short those stocks. The regulation was largely ineffective/insignificant in reducing naked shorting. In addition, results revealed that a profitable investment could be made by shorting stocks as they were identified by Regulation SHO as already having excessive outstanding failure positions.

Originality/value

This is the first paper, to the authors' knowledge, that considers whether SHO was effective and offers intuition as to reasons why it was not.
The relationship between networking behaviors and the Big Five personality dimensions
Authors: Wolff Hans‐Georg , Kim Sowon
Published: February 2012

Purpose

The purpose of this paper is to suggest a comprehensive framework to elucidate the relationship between personality and networking. Using the Five Factor Model as a framework, the paper aims to argue that traits tapping into social (i.e. extraversion, agreeableness) and informational (i.e. openness to experience) features are relevant in explaining how individual dispositions facilitate networking behaviors. Moreover, it aims to delineate structural and functional differences in networking (i.e. building, maintaining, and using contacts within and outside the organization) and to theorize how these differences yield differential relationships of personality traits with networking dimensions.

Design/methodology/approach

Online surveys were administered to two samples, from Germany and the UK, respectively (n=351). Structural equation modeling is used to test the hypotheses.

Findings

Personality traits reflecting social (extraversion) and informational aspects (openness to experience) are broadly related to networking in general. The paper also finds support for differential relationships, for example, agreeableness is related to internal, but not external networking. Both conscientiousness and emotional stability are not related to networking behaviors.

Practical implications

The findings help explain why some individuals experience more barriers to networking than others and can be used in networking trainings. Practitioners should also note that there is more than extraversion to accurately predict networking skills in selection assessments.

Originality/value

The paper provides further insights into determinants of networking, which is an important career self‐management strategy. It also offers an integrative framework on the personality‐networking relationship as prior research has been fragmentary. Establishing differential relations also furthers understanding on core differences between networking dimensions.
The influence of general beliefs on the formation of justice expectations
Authors: Geenen Brigitte , Proost Karin , Schreurs Bert , van Dijke Marius , Derous Eva , De Witte Karel , von Grumbkow Jasper
Published: February 2012

Purpose

The purpose of this paper was to investigate the influence of applicants' justice beliefs (i.e. belief in a just world and belief in tests) on justice expectations with respect to a forthcoming application for the job of prison guard. Further, it aims to study the moderating role of direct experiences on the relationship between beliefs and justice expectations.

Design/methodology/approach

A written survey was administered to 803 applicants, just before the start of the selection procedure. Data were self‐reported and collected at one point in time.

Findings

Significant positive relationships were found between both beliefs (i.e. belief in a just world and belief in tests) on procedural and distributive justice expectations. Moreover, the relationship between belief in tests and both types of justice expectations was stronger among experienced applicants. Conversely, the relationship between belief in a just world and distributive justice expectations was stronger among inexperienced applicants. This moderation was not found with respect to procedural justice expectations.

Originality/value

Insight into how justice expectations are formed in selection contexts, and consequently, how organizations can influence these expectations, is largely missing. Bell, Ryan, and Wiechmann provided a conceptual model on antecedents of justice expectations but its theoretical underpinning is rather weak and not well‐understood. Construal level theory was used in this study as a theoretical basis to predict how applicants might form justice expectations with respect to future selection procedures.