bluuebunny/crossref_metadata_2025 huggingface dataset:
Investment incentives for single and multiple unit franchisees
Authors: Weaven Scott , Frazer Lorelle
Published: July 2006

Purpose

This paper aims to provide a better understanding of the motivational incentives driving franchising choice from the franchisee's perspective and, in particular, to investigate a comparison of single and multiple unit franchisee incentives.

Design/methodology/approach

A qualitative methodology was adopted to gain a clearer picture of the salient issues influencing an individual's evaluation of franchising options. Both single and multiple unit franchisees within the McDonald's restaurant chain were interviewed.

Findings

Major contrasts were identified between single and multiple unit franchisees with regard to their motivations for entering franchising. In addition, franchisees who were previously employed were found to be different from those who were self‐employed.

Research limitations/implications

Because it is difficult to identify potential multiple unit franchisees prior to joining a franchise, it was necessary to interview existing franchisees for this research. It is possible that their post‐hoc rationalisations may restrict the value of the research. In addition, motivational disincentives were not examined within this research. However, on balance, the reflections offered by the participants provide a rich and valuable source of information about their motivations.

Practical implications

Franchisors need to consider upfront whether they wish to recruit franchisees who remain single unit holders, or select and groom franchisees who show potential for managing multiple units. Thus, franchisors may need to redesign their selection strategies and communication methods to ensure the recruitment of suitable candidates who have the capacity to activate franchisor goals and promote a harmonious franchising relationship.

Originality/value

Whereas previous research has investigated motivations for entering franchising, this paper supplements that literature by comparing single and multiple unit franchisee incentives.
Laddering in the practice of marketing research: barriers and solutions
Authors: Modesto Veludo‐de‐Oliveira Tânia , Akemi Ikeda Ana , Cortez Campomar Marcos
Published: July 2006

Purpose

The paper seeks to present discussion on laddering application in the practice of marketing, considering both academic and market researches.

Design/methodology/approach

It provides summary points of laddering as a qualitative research technique and the importance it can have in better understanding behaviour.

Findings

The paper argues that laddering is a useful and powerful technique but still underused by scholars and practitioners. The authors consider that the main apparent barriers precluding its proper use can be related to the following aspects: time‐consuming and expensive interviews; artificial set of answers; researcher biases; and simplistic analysis of the results.

Originality/value

This paper contributes to a better practice of laddering since it highlights its limitations and suggests alternatives to cope with them.
Leadership and cooperation as success factors in innovative R&D projects on electronic platforms
Authors: Heinz Ulrike , Baga Tünde , Gebert Diether , Kearney Eric
Published: July 2006

Purpose

This study examines 56 R&D projects, in each of which several organizations cooperate via an electronic system platform. The aim was to examine the relationships among leadership, cooperation, and project success (product improvements).

Design/methodology/approach

The paper investigates to what degree the relative importance of different aspects of leadership and cooperation in R&D projects on electronic platforms differs depending upon situational conditions.

Findings

Given a low level of electronic system and process integration, the frequency of personal contacts makes a significant contribution to explaining success variance. The quality of communication (team trust) is particularly important in the case of a high degree of electronic linkage. Enhancement of team spirit is more conductive to success in larger groups. Ensuring frequent personal contacts and clarifying goals, tasks, and responsibilities, respectively, contributes significantly to explaining success variance in large projects (but not in small ones). In projects with a great degree of task novelty (exploration), trustful communication becomes particularly important.

Research limitations/implications

The sample was rather small, as is the population of interorganizational cooperative projects that was studied. Further research is needed in regard to the moderator effects that is posited.

Practical implications

Knowing what is important in a particular project configuration makes it possible to take informed action with respect to the success criterion.

Originality/value

The paper shows how, in the context of R&D projects on electronic platforms, the relative importance of different aspects of leadership and cooperation depends on the specific project characteristics.
Response to uncertainty
Authors: Rabey Gordon P.
Published: July 2006

Purpose

Globalisation and technological developments are creating uncertainty in both the private and public sectors. There are calls on all sides for increased productivity. Measures for improving productivity involve staff retention and support and the development of an organisational culture that focuses on incentives and recognition.

Design/methodology/approach

Identifies and discusses the linkages which unify an organisation and suggests ways of strengthening them and significantly raising productivity.

Findings

That optimum gain can be achieved when total organisational activity is coordinated and that the outcomes of extra effort are appropriately recognised.

Originality/value

High potential but dependent upon interpretation and acceptance.
Cross‐cultural non‐work transition stresses: domestic transferees in Indonesia
Authors: Hutchings Kate , Wahyuni Ratnasari Sri
Published: July 2006

Purpose – The purpose of this paper is to address this gap in the literature by examining a cohort of Indonesians employed within a financial organisation and the cross‐cultural transition stresses that they and their families encountered when relocated within Indonesia. Design/methodology/approach – The research involved semi‐structured interviews conducted with managers in a financial institution in Indonesia. In specifically referring to non‐work issues, the paper explores the support given by the transferees’ organisation, the difficulties experienced by the employees and their families. Findings – The major finding was that managers believe that the organisation provides them with insufficient support to deal with the cross‐cultural transition stresses that result from their domestic relocations. Practical implications – The paper provides suggestions for HR and senior managers to more effectively address non‐work needs of domestic transferees. Originality/value – While expatriate management literature has devoted considerable attention to cross‐cultural transition stresses encountered when transiting across international borders to undertake international assignments, a smaller body of literature has examined the transition stresses experienced by domestic employees and their families when relocating jobs within nations. An issue erstwhile given much less consideration within the literature, however, is the cross‐cultural transition stresses experienced by employees and their families who are relocated within nations that have substantive regional cultural differences. Thus, this research adds value to the existing literature in undertaking an assessment of cross‐cultural transition stresses in domestic relocation.
Anatomy of a business failure
Authors: Elenkov Detelin , Fileva Tonya
Published: July 2006

Purpose

To investigate the innate reasons for one of the biggest business failures of a Western Multinational Corporation (WMNC) in Eastern Europe – the failure of Rover in Bulgaria. The main proposition of this study seeks to focus on the importance of gaining adequate knowledge about the prevailing economic ideology and specificity of the socio‐cultural value orientations in the host country as a critical factor to prevent a business failure in Eastern Europe.

Design/methodology/approach

Archival materials, including media publications, company documents, and government records (1991‐1998), along with personal interviews providing pieces of information about what actually happened with Rover in Bulgaria during the 1990s. Questionnaire‐based surveys were also used to do a cross‐cultural comparison between the UK and Bulgaria.

Findings

Recognising that the failure of Rover in Bulgaria that appeared to be caused by bad luck could be actually pointed out as a case showing that the lack of adequate knowledge of the prevailing economic ideology and cultural‐value orientations would likely lead to a fiasco in Eastern Europe.

Practical implications

Proactively learning from mistakes can secure successful performance of WMNC in Eastern Europe and make these companies much less vulnerable to occurrence of (unlikely) events or accidents in this part of the world.

Originality/value

The case study presents insights from an original investigation in the form of lessons for WMNC.
Cross‐cultural study of Asian and European student perception
Authors: Selvarajah Christopher
Published: July 2006

Purpose

The paper seeks to explore educational objectives and attitudes to assessment methods between Chinese and New Zealand European students.

Design/methodology/approach

A conceptual framework developed from the literature and feedback from the pilot study, explains the impact of factors on curriculum development in this study. This conceptual framework was designed to give preliminary insights into the subject area and form the basis of the research. Curriculum development and teaching style are seen as the product of cultural impact. The cultural impact is made up of factor inputs from demands made on the educational system. The prime data collection method was a self‐completion questionnaire. The population group was postgraduate management students at the Albany Campus of Massey University in New Zealand.

Findings

The responses from 110 postgraduate students in management studies at the Albany Campus of Massey University in Auckland, New Zealand, suggest that there is a relationship between culture and education. The study shows that the two student groups have different educational objectives and prefer different assessment methods.

Research limitations/implications

Since this research is exploratory in nature and is restricted by sample size, the analysis of the research data was restricted to univariate analysis. In developing teaching styles and assessment methods at tertiary educational institutions where there are students from other cultural backgrounds, it is necessary to understand the reasons why these students enrol in various courses. To develop assessment methods without taking into consideration the learning styles of a changing student population will limit the extent to which expected knowledge transfer takes place.

Practical implications

This study shows that postgraduate students in management studies from different cultural backgrounds, ethnicities and nationalities may respond to educational styles differently. To force students into an existing mould is problematic and does not serve well in a globalisation process that is now imposed on all nations.

Originality/value

The quality of postgraduate management courses rests in part on the diversity of the student population, which in turn enriches the educational contribution of students generally. It is left to the teaching staff and the tertiary institutions to decide how to harness this variation. Educational paradigm shifts in technologies, methods and perceptions are needed if changes in education styles are to take place. Re‐allocation of resources to postgraduate education, in line with a dynamic and changing environment, is equally important.
Maintenance strategies for used equipment under lease
Authors: Pongpech J. , Murthy D.N.P. , Boondiskulchock R.
Published: July 2006

Purpose

The aim of this research is to determine the optimal upgrade and preventive maintenance actions that minimize the total expected cost (maintenance costs+penalty costs).

Design/methodology/approach

The problem is a four‐parameter optimization with two parameters being k‐dimensional. The optimal solution is obtained by using a four‐stage approach where at each stage a one‐parameter optimization is solved.

Findings

Upgrading action is an extra option before the lease of used equipment, in addition to preventive maintenance action. Upgrading action makes equipment younger and preventive maintenance action lowers the ROCOF.

Practical implications

There is a growing trend towards leasing equipment rather than owning it. The lease contract contains penalties if the equipment fails often and repairs are done within reasonable time period. This implies that the lessor needs to look at optimal preventive maintenance strategies in the case of new equipment lease, and upgrade actions plus preventive maintenance in the case of used equipment lease. The paper deals with this topic and is of great significant to business involved with leasing equipment.

Originality/value

Nowadays many organizations are interested in leasing equipment and outsourcing maintenance. The model in this paper addresses the preventive maintenance problem for leased equipment. It provides an approach to dealing with this problem.
Physical modeling of catchment area by rapid prototyping using GIS data
Authors: Agrawal S. , Antunes J.P. , Theron E. , Truscott M. , de Beer D.J.
Published: July 2006

Purpose

The purpose of the present work is to develop a methodology for making physical models of catchment areas and terrains by rapid prototyping (RP) using geographic information systems (GIS) data. It is also intended to reduce data loss by minimising intermediate data translations.

Design/methodology/approach

The GIS data of a catchment area or a terrain were directly translated to an stereo lithography (STL) file. The STL surface was then manipulated in Magics‐RP to obtain a solid STL part, which can then be downloaded to a RP machine to obtain a physical model or representation of a terrain or catchtment area.

Findings

Intricate geometries of landforms were created with ease and great accuracy in RP machines. Terrain models were created in less time and lower cost than with conventional methods.

Research limitations/implications

DEM ASCII XYZ (digital elevation model) data were used to input the required GIS data of specific terrains. Software can be developed for translation and manipulation of DEM, STL and other relevant file formats. This will eliminate any data loss associated with intermediate file transfer.

Practical implications

Terrain models were created with ease and great accuracy in RP machines. It takes less time and can be done more cost‐effectively. Terrain models have intricate geometries and for complex models, it may take months to make using conventional methods.

Originality/value

STL surfaces were obtained directly from GIS data for terrain modeling. This work fulfils the need of terrain modeling for catchment management, town‐planning, road‐transport planning, architecture, military applications, geological education, etc.
Wetting and infiltration of zirconium diboride by copper and copper/boron alloys
Authors: Stucker Brent E. , Bradley Walter L.
Published: July 2006

Purpose

This paper investigates wetting and infiltration of zirconium diboride by copper and copper/boron alloys in order to more effectively create electrodes for electrical discharge machining.

Design/methodology/approach

A high temperature furnace outfitted with a video recording system was utilized to observe wetting angles between molten copper alloys and zirconium diboride at various temperatures. A parallel, investigation of the thermodynamics involved with oxidation in the system was also undertaken.

Findings

This study showed that zirconium diboride can be wet by pure copper under carefully controlled conditions where oxygen contamination is minimized, and that the wetting angle increases with increasing temperature. Thermodynamic calculations reinforce the contention that oxygen contamination is the key barrier to wetting and infiltration. The addition of boron to copper significantly improves the wetting characteristics, and enables wetting and infiltration under higher oxygen contamination conditions.

Practical implications

This study illustrated that boron must be added to copper to achieve infiltration when surface oxides are present.

Originality/value

Infiltration of porous 3D green shapes of ceramics and metals is a common method for producing metal and ceramic components using rapid prototyping. Good wetting of the porous material by the infiltrant material is necessary for successful infiltration using capillary forces. This paper illustrates the alloys and conditions under which it is possible to produce electrodes of zirconium diboride/copper using rapid prototyping.
Rapid manufacturing of patterns for investment casting: improvement of quality and success rate
Authors: Dotchev K. , Soe S.
Published: July 2006

Purpose

The main objective of this paper is to analyse all stages of the CastForm™ polystyrene (CF) pattern fabrication process, identify the reasons leading to inferior quality, and outline techniques for its improvement and reduction of failures.

Design/methodology/approach

This paper describes rapid manufacturing of patterns for shell or flask investment casting using the laser sintering (LS) technique with CF material. The process involves data preparation, LS fabrication of a “green” part, cleaning, and wax infiltration. All process stages are equally important for successful project completion in terms of pattern quality and delivery time. A failure at any stage requires a part or pattern to be produced again, which would incur additional time and cost.

Findings

The conducted experiments show how the CF material strength varies at different process stages and temperatures. Cleaning and wax infiltration are considered the main reasons for part distortion and breakage.

Originality/value

The paper proposes a new approach for wax infiltration. Deformation and breaking of unsupported features could be reduced or eliminated by introducing a supporting structure under these features.
Dynamic finite element analysis of photopolymerization in stereolithography
Authors: Jiang Cho‐Pei , Huang You‐Min , Liu Chun‐Ho
Published: July 2006

Purpose

This paper aims to introduce the principle of the mask exposure and scanning stereolithography (MESS) and to develop a simulation code to analyze the MESS process.

Design/methodology/approach

Photopolymerization is a key reaction in stereolithography. It brings about molecular linkage and releases exothermic temperature. The shrinkage effect is the major cause of prototype deformation, and the shrinkage resulting from scanning and mask exposing is different. It is important to analyze the inaccuracy of each curing layer after the mask exposing in order to optimize the scanning parameters. A simulation code, based on dynamic finite element method, to analyze the shrinkage effect in accordance with scanning path and mask exposure pattern. A benchmark model has been proposed to validate the implementation of the developed code.

Findings

The simulation results show that the developed code can analyze the deformation in laser scanning, masking exposing and the MESS process. In benchmark model study, the sharp corner shrinks faster than rounded edge in mask pattern curing. Although the profile scanning can maintain the high accuracy in the MESS process, the residual stress is easily discovered inside of the sharp corner.

Originality/value

The developed simulation code can be applied for optimizing scan path and exposing time due to the analysis process in accordance with the drawing path and fabrication parameters.
Online word‐of‐mouth: a comparison of American and Chinese discussion boards
Authors: Fong John , Burton Suzan
Published: July 2006

Purpose

The important influence of peer recommendations on consumer purchases has been strongly established. However, the growth of electronic discussion boards has created a channel for online word‐of‐mouth (OWOM) between people who have never met. This study aims to examine and compare the frequency and content of postings on digital camera electronic discussion boards within US and China based websites.

Methodology

Data was collected from the “Photography” discussion boards on eBay and EachNet (a China based website). A total of 552 discussion postings from 257 participants over a three month period were analyzed and coded.

Findings

The analysis showed quantitative and qualitative differences in the content across the two sites. There were differences in the pattern of brand mentions across the two websites, and requests for information seeking behaviour also varied across the two sites; users of EachNet were more likely to request information, thus possibly increasing the likelihood of, and influence of, OWOM on this website. There were also significant differences in content, with higher country of origin (CoO) effects on EachNet. CoO effects were largely strongly negative, in particular showing high levels of negative references to brands originating from Japan.

Research limitations/implications

A limitation is the inability to ascertain the nationality of the participants on the discussion boards. Future research will also benefit from an extension of product categories.

Originality/value

The study is the first to examine word‐of‐mouth (WOM) in online discussion boards and thus provides valuable insight for marketers into this growing source of WOM.
Corporate moral branding: limits to aligning employees
Authors: Morsing Mette
Published: July 2006

Purpose

To engage a critical discussion on the challenges raised for employees as corporate brands increasingly address moral issues.

Design/methodology/approach

The paper links theories on corporate branding informed by marketing with theories on employee identification informed by critical sociology.

Findings

While the move towards corporate branding with a strong emphasis on moral issues provides opportunities for improved employee identification, it may also lead to unintended implications in the sense of uniformity and centralisation of morals and employee demotivation.

Research limitations/implications

While this paper provides theoretical analysis of the potential direness of corporate moral brands in relation to employees, no empirical investigations have been carried out to illustrate and analyse such implications. It is of theoretical as well as managerial interest to provide more research to understand this relation better.

Practical implications

Rather than imposing a corporate brand with moral and ethical visionary statements, managers engage employees in the corporate moral brand exercise.

Originality/value

The paper questions the immediate tendency towards integrating moral issues to the corporate brand based on an untested idea of that this will motivate external and internal stakeholders. Rather the paper suggests that the corporate moral brand may also serve counter‐productive purposes.
Competitive aesthetics, semiotics, chaos and leadership
Authors: Check Teck Foo
Published: July 2006

Purpose

To highlight to CEOs/corporate community the emergence and rapidly rising phenomenon: e‐photography as part of corporate communication. In the process, the paper provides concepts, models, tools and techniques in coping with this fast developing, global trend.

Design/methodology/approach

The paper reviews the literature of semiotics and emphasize a lack of focus amounting to neglect of research on photography. Citing Confucius, models are provided for conceptual testing in using e‐photographs for communicating. That it is the role of the CEO to emphasize on the visual as part of their competitive strategy. The paper also argues why e‐photography should become an integral part of corporate aesthetics and utilized for shaping corporate identity.

Findings

Finds that the dynamic role of technology is a business driver and should assist corporate communication practices in stimulating strategic thinking.

Originality/value

The paper is a very useful resource for CEOs and corporate communicators in utilizing the emerging tool of e‐photography for shaping corporate aesthetics as part of identity building strategy.
Do South Korean companies need to obscure their country‐of‐origin image?
Authors: Kim Yungwook
Published: July 2006

Purpose

The purpose of this study is to investigate dissimilar effects of the country image on consumers' brand image and purchase intention by differently perceived nationality groups.

Design/methodology/approach

One Korean manufacturer, Samsung, is chosen to verify the proposed hypotheses. A survey was conducted with 328 participants in a Midwest City of the USA. The sampling was purposive. The participant was screened through age and the interest on buying electronic goods. The research approach was empirical.

Findings

Country image did not showcase any significant impact on brand image and purchase intention. Participants who thought Samsung a Japanese brand did not possess better brand image or purchase intention for the Samsung product compared to participants who knew the right nationality of South Korea. Also the Korea group did perform much better in purchase intention than the Taiwan group.

Practical implications

This result indicates that positively identifying the country‐product image may be a better strategy than obscuring the country image in case of South Korea and other developing countries.

Originality/value

This paper fills the gap between country‐of‐origin image and consumers' decision making in the context of obscured country image. This result indicates that country image can work more constructively when the nationality of the product is identified accurately.
The financial communication during a period of transition
Authors: Heldenbergh A. , Scoubeau C. , Arnone L. , Croquet M.
Published: July 2006

Purpose

To emphasise the important role of financial communication strategies implemented by companies during critical public share issues and identify their main characteristics.

Design/methodology/approach

A review of the available literature on the subject (1991‐2003) describes the risks brought about by public share issues, the main roles of the financial communication strategy and its targets. A qualitative investigation conducted in Belgian bank companies (by interviews) details the different financial communication strategies implemented during mergers and acquisitions.

Findings

Financial communication is not only concerned with financial figures and data, but has also a specific role in building the company's image, reputation and confidence. This is particularly true in case of mergers and acquisitions since these events can strongly affect the company's identity. Internal as well as external communications have to be considered. Some managerial implications are proposed.

Research limitations/implications

The investigation was conducted in Belgian bank companies, which are not necessarily representative of the practices in other countries. Quantitative studies should be conducted in order to isolate impact of financial communication on mergers and acquisitions success.

Practical implications

An interesting approach of financial communication and a description of its role in reducing the risks brought about during critical public share issues such as mergers and acquisitions.

Originality/value

Financial communication is less developed than the other types of communications, but is quite so important. This paper contributes to a better understanding of the role of the financial communication as part of the global communication strategy.
Voltage mode multifunction OTA‐C biquad filter
Authors: Kumar K. , Pal K.
Published: July 2006

Purpose

To develop an OTA‐C‐based universal filter realizing all standard transfer functions viz low pass, high pass, band pass, notch and all pass without an inverting amplifier and with minimum component matching condition.

Design/methodology/approach

By developing different sets of current and voltage relationship involving simple independent transconductance in biquadratic functions using three operational transconductance amplifiers the aim has been achieved.

Findings

The circuit produces all pass transfer function as stated above without inverting amplifier as has been used in most of the earlier circuits. All realizations except all pass filter requires no matching condition. The circuit remains stable for non‐ideal OTAs.

Originality/value

The proposed circuit finds wide utility in industrial and research applications as a signal processing element.
Low voltage CCII‐based high performance cascadable multifunctional filter
Authors: Parveen T. , Rajput S.S. , Ahmad M.T.
Published: July 2006

Purpose

Aims to present a new low voltage CCII‐based high frequency performance voltage mode multifunctional filter, which can realize standard biquadratic low pass, band pass and high pass functions through appropriate selection of admittances.

Design/methodology/approach

Describes the filter which consists of a CMOS plus type CCII along with five passive components out of which four components are grounded while one is floating.

Findings

Simulation results indicate matching between theoretical and simulated performances over a wide dynamic range.

Originality/value

Provides simulation results that confirm the excellent performance of a multifunctional CCII+ filter.
Impact of environmental regulations on green electronics manufacture
Authors: Ciocci Richard , Pecht Michael
Published: July 2006

Purpose

The purpose of this paper is to investigate the electronic industry's reaction to environmental regulations specifically in terms of lead‐free solders and halogen‐free flame‐retardants (FRs).

Design/methodology/approach

This work achieves its objective by discussing the various international regulations pertaining to electronics manufacturing and relating the industry reactions to those regulations. The electronics industry is pursuing lead‐free solders and halogen‐free FRs, in part due to regulations. However, the paper includes examples of how the industry is successful in implementing environmentally friendly changes.

Findings

The authors compared regulations from Japan, the European Union, and the US. While the regulations themselves vary in scope, industry actions to find alternatives do have common purposes. Electronics manufacturers recognize that environmentally motivated changes are beneficial in terms of waste minimization. Regardless of the regulatory motivation, minimization does lead to energy and economic efficiency.

Practical implications

Electronics manufacturers that are interested in green design will benefit from understanding present regulations. They will also benefit from the included examples of product and process improvement for the purpose of environmental compatibility. The paper includes specific examples of material alternatives to banned substances.

Originality/value

This paper derives its perspective from a similar review of literature and company findings that the authors completed in 2001. As refinement of the regulations has continued, the electronics industry has developed improvements in basic materials and processes.
FSA enforcement process review
Authors: Burger Richard
Published: July 2006

Purpose

To consider the recommendations made by the Financial Services Authority (FSA) enforcement process review (the review).

Design/methodology/approach

This paper has considered the concerns raised by the Financial Services and Markets Tribunal in the Legal & General case, the reaction of the FSA to those concerns and the terms of reference for the review, plus the impact of the review's 44 recommendations.

Findings

That the recommendations will bring greater transparency to the FSA's process of investigating regulatory breaches and taking enforcement action against firms and individuals, although it may take some time for the regulator and the city to adapt to the revised enforcement process.

Originality/value

This paper will be of interest to firms and individuals in the regulated sector and regulatory lawyers interested in the FSA's enforcement process.
Basel II – an opportunity for convergence in the EU
Authors: María Roldán José
Published: July 2006

Purpose

Seeks to present the personal viewpoint of the chairman of the Committee of European Banking Supervision (CEBS) on the opportunities for convergence afforded by the BASEL II capital framework.

Design/methodology/approach

Highlights some of the initiatives under way in CEBS that aim to make the above a reality in the EU.

Findings

The success of CEBS cannot be measured against the number of publications it produces but only on the impact of their implementation. More specifically, re BASEL II the real test will come with full implementation of the new framework, which will trigger full application of the CEBS agreements.

Originality/value

Coming from the chairman of CEBS, this paper carries great weight.
Strategies and benefits of developing a market for government securities
Authors: Fernando Lucio Juan
Published: July 2006

Purpose

The purpose of this essay is to formulate practical steps in establishing a market for government securities. When such a market does not exist two issues are of critical importance: establish the credibility of the issuer, and create the trading avenues.

Design/methodology/approach

On the issue of creating the trading avenues, there is a discussion about market design and its parameters. The essay addresses issues like access to trading platforms, depositories and settlement standards as great determinants of market design.

Findings

The case of Colombia demonstrates that a market for government securities can be created out of sound decisions that stimulate participation by various financial institutions. The study also discusses the real benefits of having developed such a market, in terms of the cost/risk and the institutional building components. However, despite the progress, the Colombian case also shows that issuer credibility and design are not enough in the long term. Maturing markets require also coherence of many other different components. To achieve this, the paper proposes that the overall level of training of market participants is a decisive element for markets to face ever growing challenges of competition from other markets and investor demands.

Originality/value

This essay is especially intended for public officials in emerging economies who are developing local markets for government securities, since it is full of practical recommendations to implement at specific events in primary and secondary markets.
Challenges facing banking in emerging markets
Authors: Clacher Iain , Doriye Joshua , Mohamed Suleiman R. , Satta Tadeo
Published: July 2006

Purpose

This paper aims to consider the impact of modernizing payments systems within emerging economies.

Design/methodology/approach

Focuses on the Tanzanian experience and highlights a number of important issues that emerging economies face in undertaking such reforms. The results are based on a survey of the banking sector in Tanzania.

Findings

Many participants have experienced increases in efficiency, such as faster transaction speeds, quicker settlement times, and a reduction in errors and fraudulent transactions. However, the Tanzanian case has also highlighted the importance of sufficient legal reform for both the banking sector and their customers. Finally, the findings show that clear roles for participants and well‐defined rules and regulations are essential for effective payments systems.

Originality/value

The paper adds value as it considers the impact of banking reform and modernization of payments systems from the perspective of the participants within the industry. The findings will be of value to those in the banking sector in emerging economies and gives useful insights into the Tanzanian experience.
A compliance competence partnership approach model
Authors: Edwards Jonathan , Wolfe Simon
Published: July 2006

Purpose

Compliance competence is key to the operation and reputation of the financial services sector and is now completely embedded in the way financial services organisations carry on investment business. It is also fundamental to the Financial Services Authority (FSA) in seeking to achieve its regulatory objectives as set out in sections 3‐6 of the Financial Services and Markets Act 2000. A great deal has been written on the topic of compliance and competence and the core objective of this paper is to offer a compliance competence model for financial institutions that recognises and highlights the importance of the regulator and the regulated working together as partners.

Design/methodology/approach

A unique compliance competence partnership approach model, arising from case study research, is proposed and consists of three key elements: good compliance practice, good ethical practice and a positive FSA relationship. The three elements are represented as a tripod with three mainstays that are intrinsically linked. The mainstays are supported by cross‐members that consist of underlying and intrinsic issues of compliance competence.

Findings

The regulator and regulated need to work together in a proactive partnership. Organisation need to formulate a clear ethical policy involving employees from every aspect.

Originality/value

The partnership approach model, advocated here, would create a real partnership between the FSA and its regulated organisations.
The impact of the 2004 research analyst rules on hedge fund research reports
Authors: Black Keith H. , Mauldin John
Published: July 2006

Purpose

Hedge fund marketers frequently distribute written commentary for investors to use in research. Since, these reports are subject to new regulations of the SEC (March 2004), changes need to be made by the hedge fund marketers. This study seeks to examine this issue.

Design/methodology/approach

Details the rule changes introduced by the SEC regarding research reports.

Findings

Concludes that significant changes have to be made by the marketers in question in order to bring their operations into compliance with the new regulations.

Originality/value

Hedge fund marketers who are focused on adviser registration and the hiring of compliance officers are unlikely to have considered this important new area of regulation.
Designing a civil forfeiture system: an issues list for policymakers and legislators
Authors: Kennedy Anthony
Published: July 2006

Purpose

In recent years an emerging global trend of introducing legislation to use civil procedures against criminal assets can be detected. However, these civil forfeiture models, which exist vary from jurisdiction to jurisdiction. This paper seeks to identify issues which need to be considered when such a scheme is being designed and examines the options which have been adopted.

Design/methodology/approach

The paper examines the legislative provisions in a number of jurisdictions setting out the common issues which have arisen and the range of options which have attempted as potential solutions.

Findings

The paper concludes that jurisdictions which seek to introduce civil forfeiture legislations now have various examples from which to learn but that these models will likely evolve in the face of litigation and experience as legislatures and policymakers attempt to produce fair but effective procedures for the civil recovery of criminal proceeds.

Originality/value

As further jurisdictions respond to this emerging trend and draft their own legislation, there is much to be leant from the issues which others have considered necessary to address and the way in which these issues have been dealt with.
Why (some) fraud prosecutions fail
Authors: Wright Rosalind
Published: July 2006

Purpose

The paper aims to demonstrate the causes of failure of some fraud prosecutions.

Design/methodology/approach

The paper provides a review of common contexts within which prosecutions of allegations of fraud are brought and discussion of the factors which influence the prosecutor, the investigator, the defence, the trial judge and the fact‐finders.

Findings

Several factors are common to many fraud prosecutions which, taken together, make these cases difficult to try and to obtain convictions. Many fraud prosecutions fail because the egregious length of the investigation and trial process jeopardises the mental health of some defendants, preventing them from being tried at all. The mass of documentary evidence adduced can cloud the key issue of dishonesty. Excessive splitting up and “pruning” of the case with a view to making the trial shorter may obscure the essential elements of the case. Effective management of the trial process is sometimes lacking. Presentation of complex facts and egregious amounts of documentation to a lay jury can contribute to the inordinate length of the case and the proposition is made that an alternative tribunal, without a lay jury, may eliminate many of the factors which contribute to the failure of major fraud trials.

Practical implications

The conclusion is drawn that tribunals sitting without juries would have the effect of shortening the trial without lessening public confidence in the criminal justice system in this very limited class of case.

Originality/value

The paper draws together several key factors found in the author's experience as Director the Serious Fraud Office and as Chairman of the Fraud Advisory Panel which distinguish fraud prosecutions from any other types of criminal case and provides leads for improving future prosecution and trial technique.
Organised crime menaces legitimate business and might lead to corruption
Authors: Nicati Claude , Daams Claire A.
Published: July 2006

Purpose

It is not enough that international organisations take initiatives in the fight against organised crime. The nation states also have to adapt their domestic legal systems. The purpose of this paper is to focus on the implications for Switzerland in this context.

Design/methodology/approach

The paper describes some of the Swiss preventive measures against corruption and briefly explains the Swiss legal provisions dealing with corruption. The prosecution and sanctioning of corruption is then outlined. The conclusion summarises the main facts and features.

Findings

The attitude towards corruption has significantly changed over the last decade. Switzerland has adapted its legal provisions to this “new” attitude and chosen an approach that serves to protect itself against becoming a launderette for the proceeds of bribery. The main changes include efforts to raise awareness about corruption, the revision of the existing and introduction of new legal provisions applicable to corruption, the attribution of exclusive prosecutorial powers (under the conditions of article 340bis para 1 of the Criminal Code) to the confederation and finally the introduction of specific sanctions.

Originality/value

The paper describes actions against organised crime from a Swiss perspective.
The business of corruption, or is the business of business corruption?
Authors: Rossbacher Henry H.
Published: July 2006

Purpose

The purpose of this paper is to examine legal issues in the USA in relation to corruption involving American corporations.

Design/methodology/approach

The paper reviews of actions by the US government, lobbyists and courts with commentary by the author.

Findings

All is not well.

Originality/value

The paper presents a personal review of US legal issues relating to corruption.
The effects of organized crime on legitimate businesses
Authors: Marine Frank J.
Published: July 2006

Purpose

The purpose of this paper is to examine the development and nature of organized crime in the USA over the past 50 years, emphasizing organized crime's corruption and victimization of legitimate businesses and describing law enforcement's efforts to combat organized crime through specific case studies.

Design/methodology/approach

First, the paper analyzes the control over and corruption of legitimate businesses in the USA by the La Cosa Nostra (“LCN,” or the American Mafia), including the following industries: Las Vegas gaming; moving and storage; garment; waste – hauling; and, construction, and the following unions: the International Brotherhood of Teamsters; Laborers International Union of North America; and, the International Longshoreman's Association. The paper also describes law enforcement's successful efforts to combat such corruption through the use of criminal and civil racketeering laws and specific prosecutions. The paper then discusses the emergence in the mid‐1980s of non‐traditional organized crime groups in the USA, including various Asian ethnic groups and large‐scale human trafficking organizations that impact Europe and Asia as well as the USA.

Findings

The non‐traditional criminal groups not only prey on the legitimate businesses in ethnic Asian communities in the USA, but they also engage in complex crimes, alien smuggling, drug trafficking, credit‐card frauds, money laundering, and other financial crimes. There has emerged a new era for organized crime that began in the 1990s with the fall of the former Soviet Union and the emergence of transnational organized crime groups emanating from the nations comprising the former Soviet Bloc. These organized crime groups engage in a wide variety of economic crimes including extortion, fraud, illicit appropriation of natural resources, and public corruption. Such extensive corruption threatens the stability of some of these emerging nations.

Originality/value

This paper will be valuable to law enforcement offices and policy makers to assist them to understand the scope and nature of organized crime's adverse effects upon businesses and economic interests and to develop tools to combat such criminal activities.
The cigarette black market in Germany and in the United Kingdom
Authors: von Lampe Klaus
Published: July 2006

Purpose

The research aims at providing a comprehensive assessment of the cigarette black market in Germany and the UK within the framework of the study of organized crime.

Design/methodology/approach

The particular approach upon which this paper is based is a systematic, cross‐national review of open sources, including media reports and government documents. The information gleaned from these sources is transferred into a classificatory scheme derived from the analysis of organized crime.

Findings

While similarities exist regarding the inner workings of the cigarette black market, interesting variations between the two countries emerge, including an asynchronicity of the developmental process and differences in modus operandi. In addition to cross‐national differences, striking regional variations in the prevalence and character of black market activity exist within each country. This leads to the conclusion that a multitude of factors have to be considered to account for the overall dynamics and specific manifestations of the cigarette black market.

Research limitations/implications

In future research the database needs to be broadened beyond open sources.

Practical implications

Policy decisions with the aim to curb the cigarette black market have to take the apparent complexity of causal and intervening factors into account. The level of taxation is just one of several factors.

Originality/value

No comparative analysis of the cigarette black markets in Germany and the UK has previously been available.