bluuebunny/crossref_metadata_2025 huggingface dataset:
Electronic marketplaces for tailored logistics
Authors: Wang Yingli , Potter Andrew , Naim Mohamed
Published: September 2007

Purpose

The purpose of this paper is to evaluate electronic logistics marketplaces (ELMs), especially closed systems based on long‐term relationships between shippers and carriers. It aims to establish likely operational models and investigate their relationship with tailored logistics.

Design/methodology/approach

Multiple case‐studies with shippers, carriers and technology providers, involving interviews, process mapping, work‐shops and system demonstrations.

Findings

Key attributes in relation to processes, relationships and technology are identified. Finding reveal that the ELM business model is still at its infancy stage but with huge potential for growth in optimizing supply chain networks, and enabling the provision of tailored logistics.

Practical implications

Business‐to‐business electronic marketplaces are becoming more common in practice. By characterizing the different operational models, decision makers in logistics can identify which structure is best suited for their particular application. The paper confirms the existence of three distinct ELM structures, while also specifying their key attributes. It provides a foundation for future research in this developing field.

Originality/value

Research on ELMs is scarce. The paper establishes fundamentals of the operational models available to support closed ELM and provides insights on how different closed ELMs are structured, what they do and how they impact tailored logistics.
A reappraisal on advanced planning and scheduling systems
Authors: Lin Chao‐Hsien , Hwang Sheue‐Ling , Min‐Yang Wang Eric
Published: September 2007

Purpose

This paper sets out to present a reappraisal on advanced planning and scheduling (APS) systems in industrial settings and propose an effective approach for APS implementation.

Design/methodology/approach

A case study approach is adopted, and a research framework comprising human‐, technological‐, and organizational‐dimensions is developed to analyze the evidence database which includes business flows, system design documents, archival records, post‐system assessment, participant‐observation and semi‐structured interviews.

Findings

The findings indicate that real‐world production planning problems are ill‐defined, complex and dynamic. A post‐implementation evaluation reveals major pitfalls in the technology‐dominant approach, whose negative ramifications are usually overlooked. Besides, these APS implementation pitfalls are found to be attributable to the real‐world context, human factors and organizational aspects.

Research limitations/implications

Despite advances in information technology (IT) and computer modeling techniques, humans still play critical roles in the production‐planning processes – especially in a complex and dynamic manufacturing environment where incomplete, ambiguous, inconsistent and untimely data make automatic planning unrealistic. A rational human‐computer collaboration scheme under an effective organizational structure would be in a better position to take advantage of the IT.

Originality/value

This paper presents a humans‐technology‐organization‐framework of real planning systems, which is employed to analyze a case of APS implementation. Practical insights are extracted as a result of this field research, and a realist approach is proposed to cope with the problems and pitfalls of APS implementation in industrial settings.
Intranet usage and managers' performance in the port industry
Authors: Daud Norzaidi Mohd , Choy Chong Siong , Murali Raman , Intan Salwani Mohamed
Published: September 2007

Purpose

Using the extended task‐technology fit (TTF) model, the purpose of this paper is to examine the impact of intranet usage on middle managers' performance in the port industry.

Design/methodology/approach

The study was conducted on 357 middle managers from various organisations in the Malaysian port industry.

Findings

The structural equation modelling results indicate that TTF and usage significantly explains the variance on managers' performance. TTF is a predictor of perceived usefulness and usage but it does not predict user resistance. Perceived usefulness is a predictor of usage but it does not predict user resistance. User resistance does not predict managers' performance.

Research limitations/implications

The study focuses only on the port industry in Malaysia and concentrates only on the management perspective of intranet usage.

Practical implications

The results provide insights on how the Malaysian port industry and other organisations of a similar structure could improve on their intranet adoption.

Originality/value

This study is perhaps one of the first to address the intranet adoption in the port industry using a comprehensive, extended TTF model (perceived usefulness, usage, user resistance) to investigate their influences on individual job performance.
The economic function in the Hindu worldview: its perennial social relevance
Authors: Chakraborty S.K. , Chakraborty D.
Published: September 2007

Purpose

Among the several sub‐themes for this Special Issue this paper aims to deal, broadly, with the Hindu view of economics and allied matters.

Design/methodology/approach

The approach is a conceptual one that highlights a few crucial aspects of the “positive” flank of Hinduism vis‐à‐vis its “normative” dimension. Researchers, thinkers, scholars and, above all, some important but ignored realizers of Hindu psycho‐philosophy, have been dug into for materials comprising the paper.

Findings

The findings clearly show that the amazing sustainability of Bharat's (i.e. India's) socio‐economic processes, structures and systems, despite the tortures of history visiting her, can be explained by her abiding fidelity to the eternal as the basis of the temporal. This is the very foundation of the sacro‐secular character of Hindu culture.

Practical implications

The expected impact is long‐term through deep‐structure germination on a wide tract. Hurried practical application in tiny fractions is not intended as this will be premature and superficial.

Originality/value

The contents of this paper are meant to generate a holistic and respectful orientation to the forging of constructive links between culture and economics in the context of Hinduism.
The nexus between stock market and economic activity: an empirical analysis for India
Authors: Chandra Padhan Purna
Published: September 2007

Purpose

An understanding on the linkages between financial development and economic growth in general and the stock market with economic activity in particular is imperative in emerging economies. The objective of this paper is to find out the causal linkages between stock market and economic activity in India.

Design/methodology/approach

The paper applies recently developed Granger non‐causality tests by Toda‐Yamamota, Dolado and Lutkephol (popularly known as the TYDL model) for an empirical exercise.

Findings

The notable finding of the paper is that both the stock price (BSE Sensex) and economic activity (IIP) are integrated of order one, i.e. I (1). The Johansen‐Juselius co‐integration tests suggest the existence of one co‐integrating vector. This rules out spurious relations and suggests the presence of at least one direction of causality. The TYDL model suggests that there is bi‐directional causality between stock price and economic activity during the post‐liberalization period, implying that a well‐developed stock market could enhance economic activity and vice‐versa.

Research limitations/implications

In the broader framework of financial markets, the presence and role of the stock market is minuscule in the context of India. Despite this, it could play a considerable role in the process of the economic development of the country. However, to analyze the cause and effect relationship between stock market and economic activity, it is essential to analyze the issue in greater detail and depth. The main limitation of the paper is the use of IIP as a proxy for economic activity, which neglects the agricultural sector, being the primary sector in India and also the service sector. This is of course due to the non‐availability of GDP data on a monthly basis. Further, a detailed study on the issue could be highly appreciable from the perspective of policy implications.

Originality/value

The findings of the paper have some valuable implications. It could give some insight for policy makers about the possible linkages between stock market and the economy. Coming to empirical parts, this is perhaps the first paper in the context of India to apply the TYDL model to examine the relationship between stock price and economic activity.
A case of inappropriately targeted vulnerability reduction initiatives in Andhra Pradesh, India?
Authors: Bosher Lee
Published: September 2007

Purpose

The paper seeks to assess the influence and effectiveness of non‐governmental organisations (NGOs) in targeting and aiding “communities” to reduce their socio‐economic vulnerability to infrequent large‐scale and common everyday crises in coastal Andhra Pradesh.

Design/methodology/approach

Data collection included 342 questionnaires with village inhabitants, local and regional government officials and personnel managing and working for local NGOs. To add qualitative detail to the quantitative data that were collected, 308 “everyday” sociograms, 294 “crisis” sociograms, and 34 semi‐structured interviews were also conducted.

Findings

The research identifies that NGOs in the study areas do not operate in multi‐caste villages, apparently because they prefer to operate in relatively homogeneous single‐caste villages. The implications are that some of the most vulnerable members of society, such as the marginalised “communities” that partially constitute multi‐caste villages, do not receive the support they need.

Research limitations/implications

This study focuses on a specific region of Andhra Pradesh with the consequence that the findings are potentially very context‐specific. Nonetheless, the findings highlight a fundamental flaw in the way many NGOs operate in this region, through the targeting of perceived “easy cases”, and this is a matter that development agencies should consider and further investigate.

Originality/value

This paper will be of value to researchers and practitioners seeking to gain a better understanding of NGOs and the way some of them operate. The paper recommends a number of ways that the observed inefficiencies could be addressed.
Commonweal vs. free market capitalism: the case of India and China
Authors: Rao Korukonda Appa
Published: September 2007

Purpose

China and India, increasingly referred to as the world's emerging giants among emerging economies, represent the second and fourth largest economies in the world, respectively. This paper seeks to provide a comparative assessment of these two countries on selected measures on economic growth and social development.

Design/methodology/approach

The paper's approach is a discussion, providing a brief introduction to the approach taken by India and China in pursuing economic growth and social welfare measures. The discussion then focuses on the relationship between economic liberalization and social development against a backdrop of relevant concepts and arguments from the literature. Comparative profiles of India and China on select dimensions using data from World Economic Indicators and other sources are provided.

Findings

The paper finds that it is clear that there are areas where India can learn from China and vice versa.

Originality/value

The paper illustrates that these two countries offer a potentially rich and useful canvas for exploring the social implications of free market capitalism.
The exchange rate exposure of UK non‐financial companies
Authors: El‐Masry Ahmed , Abdel‐Salam Omneya , Alatraby Amr
Published: September 2007

Purpose

The purpose of this paper is to investigate the exchange rate exposure of UK non‐financial companies from January 1981 to December 2001.

Design/methodology/approach

The study employs different exchange rate measures and adopts an equally weighted exchange rate. The analyses are conducted at the firm level. All analyses are conducted by regressing the firm's exchange rate exposure coefficients on its size, foreign activity variables and financial hedging proxies over the whole sample period.

Findings

The findings show that a higher percentage of UK non‐financial companies are exposed to exchange rate changes than those reported in previous studies. Generally, the results provide a stronger support for the suggested equally weighted rate as an economic variable, which affects firms’ stock returns. The results also show a high proportion of positive exposure coefficients among firms with significant exchange rate exposure, indicating a higher proportion of firms benefiting from an appreciation of the pound. Finally, the results also indicate evidence that firms’ foreign operations and hedging variables affect their sensitivity to exchange rate exposure.

Practical implications

This study provides important implications for public policymakers who wish to understand links between policies that affect exchange rates and relative wealth effects.

Originality/value

The empirical results of this study should help investors to examine how common stock returns react to exchange rate fluctuations when making financial decisions, and prove useful for financial managers when measuring exposure to foreign exchange rate changes.
The exchange rate exposure puzzle
Authors: Bartram Söhnke M. , Bodnar Gordon M.
Published: September 2007

Purpose

Based on basic financial models and reports in the business press, exchange rate movements are generally believed to affect the value of nonfinancial firms. In contrast, the empirical research on nonfinancial firms typically produces fewer significant exposures estimates than researchers expect, independent of the sample studied and the methodology used, giving rise to a situation known as “the exposure puzzle”. To this end, this paper aims to systematically analyze the existing empirical evidence of the exposure phenomenon and to attempt to understand the possible source of the exposure puzzle.

Design/methodology/approach

The paper provides a survey of the existing research on the exposure phenomenon for nonfinancial firms. A simple model of exposure elasticity is also used to demonstrate the substantial impact of operational hedging on exposure elasticities. Furthermore, the evidence on the nature of firms’ financial derivative usage is considered.

Findings

It is suggested that the exposure puzzle may not be a problem of empirical methodology or sample selection as previous research has suggested, but is simply the result of the endogeneity of operative and financial hedging at the firm level. Given that empirical tests estimate exchange exposures net of corporate hedging, both firms with low gross exposures that do not need to hedge and firms with large gross exposures that employ one or several forms of hedging, may exhibit only weak exchange rate exposures net of hedging. Consequently, empirical tests yield only small percentages of firms with significant stock price exposures in almost any sample.

Originality/value

If firms react rationally to their exposures, most firms will either have no exposure to start with, or reduce their exposure to levels that may be too small to detect empirically. Consequently, the exposure puzzle may not be a problem with methodology or theory, but mainly the result of endogeneity of operative and financial hedging at the firm level.
Hedging the exchange rate risk in international portfolio diversification
Authors: Maurer Raimond , Valiani Shohreh
Published: September 2007

Purpose

This study seeks to examine the effectiveness of controlling the currency risk for international diversified mixed‐asset portfolios via two different hedge instruments, currency forwards and currency options. So far, currency forward has been the most common hedge tool, which will be compared here with currency options to control the foreign currency exposure risk. In this regard, several hedging strategies are evaluated and compared with one another.

Design/methodology/approach

Owing to the highly skewed return distributions of options, the application of the traditional mean‐variance framework for portfolio optimization is doubtful. To account for this problem, a mean lower partial moment model is employed. An in‐the‐sample as well as an out‐of‐the sample context is used. With in‐sample analyses, a block bootstrap test has been used to statistically test the existence of any significant performance improvement. Following that, to investigate the consistency of the results, the out‐of‐sample evaluation has been checked. In addition, currency trends are also taken into account to test the time‐trend dependence of currency movements and, therefore, the relative potential gains of risk‐controlling strategies.

Findings

Results show that European put‐in‐the‐money options have the potential to substitute the optimally forward‐hedged portfolios. Considering the composition of the portfolio in using in‐the‐money options and forwards shows that using any of these hedge tools brings a much more diversified selection of stock and bond markets than no hedging strategy. The optimal option weights imply that a put‐in‐the‐money option strategy is more active than at‐the‐money or out‐of‐the‐money put options, which implies the dependency of put strategies on the level of strike price. A very interesting point is that, just by dedicating a very small part of the investment in options, the same amount of currency risk exposure can be hedged as when one uses the optimal forward hedging. In the out‐of‐sample study, the optimally forward‐hedged strategy generally presents a much better performance than any types of put policies.

Practical implications

The research shows the risk and return implications of different currency hedging strategies. The finding could be of interest for asset managers of internationally diversified portfolios.

Originality/value

Considering the findings in the out‐of‐sample perspective, the optimally forward‐hedged minimum risk portfolio dominates all other strategies, while, in the depreciation of the local currency, this, together with the forward‐hedged tangency portfolio selection, would characterize the dominant portfolio strategies.
The response of industry stock returns to market, exchange rate and interest rate risks
Authors: Hyde Stuart
Published: September 2007

Purpose

This study seeks to investigate the sensitivity of stock returns at the industry level to market, exchange rate and interest rate shocks in the four major European economies: France, Germany, Italy, and the UK.

Design/methodology/approach

The paper utilises the methodology of Campbell and Mei (1993) to decompose systematic risks into components attributable to news about future dividends (cash flows), real interest rates and excess returns.

Findings

In addition to significant market risk, the paper finds significant levels of exposure to exchange rate risk in industries in all four markets. Significant levels of interest rate risk are only identified in Germany and France. All three sources of risk contain significant information about future cash flows and excess returns.

Research limitations/implications

Future research could investigate the extent of exposure in other markets, or investigate whether the findings change at the firm level. Additionally it could be investigated whether recent asset pricing work such as Campbell and Vuolteenaho (2004) can be utilised to investigate this research problem.

Practical implications

The paper identifies which industry portfolios have significant exposures and decomposes these risks. This information is relevant for investors and portfolio managers, as well as financial management within the firm.

Originality/value

The paper utilises an alternative econometric methodology to investigate the extent of exposure to exchange rate and interest risks in industrial portfolios in four European markets.
The Asian crisis exchange risk exposure of US multinationals
Authors: Verschoor Willem F.C. , Muller Aline
Published: September 2007

Purpose

This paper aims to increase understanding of the (time‐varying) relationship between exchange rates and stock prices at the individual firm level. Rather than analyzing the impact of exchange rate movements on firm value by regressing multinationals’ stock returns on exchange rate changes, it is proposed to examine the impact of increased exchange rate variability on the stock return volatility of US multinationals by focusing on the 1997 Asian financial turmoil.

Design/methodology/approach

In a first step, it is investigated whether the enhanced uncertainty about the future performance of US multinationals active in Asia resulted in an increased stock return variability. The second step separates the impact of increased exchange rate variability on the stock return volatility of US multinationals into systematic and diversifiable risk.

Findings

It is found that the stock return variability of US multinationals increases significantly in the aftermath of the financial turmoil. In conjunction with this increase in total volatility, there is also an increase in market risk (beta) for US multinationals. Moreover, trade‐ and service‐oriented industries appear to be particularly sensitive to these changing exchange rate conditions.

Practical implications

If the additional risk imparted to exposed firms from increased exchange rate variability is systematic in nature, it will affect the required rate of (equity) return (i.e. investors demand higher returns for holding the firm's shares). Consequently, this effect of exchange rate fluctuations increases the cost of (equity) capital for US multinationals with real foreign operations in the crisis countries.

Originality/value

This paper demonstrates the impact of increased exchange risk on stock return volatility and market risk.
Exchange rate exposure: do size and foreign operations matter?
Authors: El‐Masry Ahmed , Abdel‐Salam Omneya
Published: September 2007

Purpose

The purpose of this paper is to examine the effect of firm size and foreign operations on the exchange rate exposure of UK non‐financial companies from January 1981 to December 2001.

Design/methodology/approach

The impact of the unexpected changes in exchange rates on firms’ stock returns is examined. In addition, the movements in bilateral, equally weighted (EQW) and trade‐weighted and exchange rate indices are considered. The sample is classified according to firm size and the extent of firms’ foreign operations. In addition, structural changes on the relationship between exchange rate changes and individual firms’ stock returns are examined over three sub‐periods: before joining the exchange rate mechanism (pre‐ERM), during joining the ERM (in‐ERM), and after departure from the ERM (post‐ERM).

Findings

The findings indicate that a higher percentage of UK firms are exposed to contemporaneous exchange rate changes than those reported in previous studies. UK firms’ stock returns are more affected by changes in the EQW, and US$ European currency unit exchange rate, and respond less significantly to the basket of 20 countries’ currencies relative to the UK pound exchange rate. It is found that exchange rate exposure has a more significant impact on stock returns of the large firms compared with the small and medium‐sized companies. The evidence is consistent across all specifications using different exchange rate. The results provide evidence that the proportion of significant foreign exchange rate exposure is higher for firms which generate a higher percentage of revenues from abroad. The sensitivities of firms’ stock returns to exchange rate fluctuations are most evident in the pre‐ERM and post‐ERM periods.

Practical implications

This study provides important implications for public policymakers, financial managers and investors on how common stock returns of various sectors react to exchange rate fluctuations.

Originality/value

The empirical evidence supports the view that UK firms’ stock returns are affected by foreign exchange rate exposure.
Do momentum strategies work? Australian evidence
Authors: Drew Michael E. , Veeraraghavan Madhu , Ye Min
Published: September 2007

Purpose

The purpose of this paper is to investigate the profitability of momentum investment strategy and the predictive power of trading volume for equities listed in the Australian Stock Exchange.

Design/methodology/approach

Following the Lee and Swaminathan's approach, portfolios on past returns and past trading volume is constructed. In this approach, all stocks are ranked independently on the basis of past returns and past trading volume. The stocks are then assigned to one of five portfolios based on past returns and one of three portfolios based on trading volume over the same period.

Findings

A strong momentum effect for the Australian market during the period 1988 through 2002 is observed. Further, momentum plays an important role in providing information about stocks. Past trading volume appears to predict both the magnitude and persistence of price momentum.

Research limitations/implications

Substantial momentum observed in monthly stock returns has investment implications. Abnormal returns vary from 0.3 to 7 per cent per month in the intermediate horizon.

Originality/value

This study provides an out of sample evidence by examining the relationship between “trading volume” (measured by the turnover ratio) and “momentum” strategies in an Australian setting.
Relation between distress risk, book‐to‐market ratio and return premium
Authors: Zaretzky Kaylene , Kenton Zumwalt J.
Published: September 2007

Purpose

Earlier research found that firms with the highest distress risk have low book‐to‐market (B/M) ratios and low returns. This paper aims to examine the robustness of those's results and provide further evidence that high distress‐risk firms do not enjoy the same high returns earned by high B/M firms and that distress risk is unlikely to explain the Fama and French high‐minus‐low (HML) B/M factor.

Design/methodology/approach

A distress‐risk measure, distressed‐minus‐solvent (DMS), is calculated and a range of zero investment distress‐risk trading strategies is investigated. Value‐ and equal‐weighted portfolios are examined both with negative book‐equity firms and without. These most distressed firms have low or negative B/M values and would either not be included in the Fama and French sample or included in the low B/M portfolio.

Findings

The paper finds that the DMS factor is negative and significant, and none of the zero investment strategies earns significantly positive returns.

Research limitations/implications

The findings suggest that exposure to distress risk does not earns investors a positive risk premium. It appears that over the period examined, market inefficiencies drive the market value and returns of high distress‐risk firms.

Originality/value

The distress‐risk premium is shown to be negative and, therefore, cannot be driven by bankruptcy risk alone. The negative premium is not consistent with a financial distress explanation for the Fama and French HML factor.
Co‐movement of Bangladesh stock market with other markets
Authors: Al Asad Bin Hoque Hafiz
Published: September 2007

Purpose

The purpose of this paper is to explore dynamics of stock price movements of an emerging market, Bangladesh with that of USA, Japan and India.

Design/methodology/approach

The long‐term relationships among the markets are analyzed using the Johansen and Juselius multivariate cointegration approach. Short‐run dynamics are captured through vector error correction models. Further investigation on short‐run dynamics is carried out through impulse response analysis.

Findings

There is evidence of cointegration among the markets demonstrating that stock prices in the countries studied here share a common stochastic trend. Impulse response analysis shows that shocks to the US market do have an impact on the Bangladesh market. The evidence of Bangladesh stock market responding to shocks in the Indian market is weak. Shocks to the Japanese market do not generate a response in the Bangladesh market.

Research limitations/implications

As these markets share a common stochastic trend no diversification benefit is possible from cross‐border investments. Investors could further enhance their understanding of market behaviour by comparing the observations here with those of studies that adopt technical analysis, fundamental analysis and consider financial anomalies.

Originality/value

The evidence of cointegration and the short run dynamic relationship help investors in making efficient investment decisions in the Bangladesh stock market.
A review of capital asset pricing models
Authors: Galagedera Don U.A.
Published: September 2007

Purpose

The main aspect of security analysis is its valuation through a relationship between the security return and the associated risk. The purpose of this paper is to review the traditional capital asset pricing model (CAPM) and its variants adopted in empirical investigations of asset pricing.

Design/methodology/approach

Pricing models are discussed under five categories: the single‐factor model, multifactor models, CAPM with higher order systematic co‐moments, CAPM conditional on market movements and time‐varying volatility models.

Findings

The paper finds that the last half‐century has witnessed the proliferation of empirical studies testing on the validity of the CAPM. A growing number of studies find that the cross‐asset variation in expected returns cannot be explained by the systematic risk alone. Therefore a variety of models have been developed to predict asset returns.

Research limitations/implications

There is no consensus in the literature as to what a suitable measure of risk is, and consequently, as to what is a suitable measure for evaluating risk‐adjusted performance. So the quest for robust asset pricing models continues.

Originality/value

From its beginning to its possible demise the paper reviews the history of the CAPM assuring that we are all up to speed with what has been done.
2007 Code4Lib Conference Report
Authors: Barrera Antonio , Chilana Parmit , Clarke Kevin , Giarlo Michael
Published: September 2007

Purpose

To report on the 2007 Code4Lib conference held February 27‐March 2nd in Athens Georgia.

Design/methodology/approach

Provides a review of the conference and some background on the Code4Lib community.

Findings

The Code4Lib conference is developed by the open Code4Lib community. The single track program included a pre‐conference, keynote sessions, scheduled presentations, lighting talks, and breakout sessions.

Originality/value

A conference report reviewing some of the trends in development, within libraries which should appeal to programmers and management alike.
2007 TechEd Annual Conference: Conference Report
Authors: Brown Mitchell
Published: September 2007

Purpose

To report on the 2007 Annual TechEd Conference held in Ontario, California.

Design Methodology/approach

The annual conference aims to provide attendees with continuing product demonstrations, vendor presentations, invited papers and social events that will help promote new methods of instruction at all levels, but especially in higher education. Exhibits from vendors include technology, course management systems, information materials and services.

Findings

Instructional technology is driving changes in high school, community college and undergraduate education, especially as distance education becomes a bigger component in all methods of traditional academic as well as new launches in higher education, continuing education and lifelong learning.

Practical implications

Many case studies and presentations were made demonstrating the implementation of technology and different applications in a range of educational environments. Library implementation is not always the focus but topics about teaching, learning, administration and related applications, and integrating Web 2.0 technologies in instruction was abundant.

Originality/Value

Institutions offering distance education as a platform for expanding curriculum reforms and reaching out to students in creative ways are finding that technology reform and products are shaping new ways to teach and integrate information sources.
12th Annual Learning Technologies Showcase at the University of Arizona
Authors: Hemmo Dorothy
Published: September 2007

Purpose

To highlight the latest technologies that were showcased as this annual event of learning technologies in higher education.

Findings

Several different technologies were emphasized that can be scaled with relative ease and others that require more commitment to learn and use creatively and appropriately. The range included very practical technologies as well as virtual reality platforms such as SL, now increasingly used for different collaborative exchanges and learning opportunities that promote visual queues and interactions.

Originality value

Most campuses today have such a technology forum to promote how technology can be used in new instructional and administrative capacities. This showcase emphasized the instructional methods and introduced attendees to podcasting, Voice Over Internal Protocol and other communication technologies that can be used in the classroom and in distance education programs.
Report from the Fourth International Evidence Based Library and Information Practice Conference
Authors: Theis‐Mahon Nicole
Published: September 2007

Purpose

To provide a conference report on the Fourth International Evidence Based Library and Information Practice conference.Design/methodology/approach – Conference report.

Findings

Evidence Based Library and Information Practice once the domain of medical librarianship has expanded into a broader application base found in many library settings to promote different methods to achieve best practices and outcomes.

Originality value

The reports the range of applications from clinical, theoretical, practical backgrounds that utilize evidence based information for informed decision‐making.
“Added values to e‐theses” – ETD 2007 Symposium at Uppsala University, Sweden: A Summary Report
Authors: Ghosh Maitrayee
Published: September 2007

Purpose

The purpose of this report is to outline‐few selected presentations of the ETD 2007 symposium based on the main theme “Added values to e‐theses” and highlight major events of the symposium held at Uppsala library, Sweden, during 13‐16 June 2007.

Design/methodology/approach

Conference report.

Findings

The four‐day meeting provided unique opportunity to professional librarians, academicians and other stakeholders of ETDs to explore the collaborative agenda emerged due to the changes in scholarly communication, long‐term digital preservation, ETD repository development and open access movement.

Originality value

The author, who was also a speaker, provides an overview of the ETD 2007 international symposium, which carried out a variety of program viz. keynote and plenary sessions, paper presentations, poster sessions and local sight seeing tours to national museum, Linnaeus garden and libraries at Uppsala.
ALA and ACRL at the National Library Legislative Day 2007
Authors: Arthur Mihram G.
Published: September 2007

Purpose:

To report on the annual ALA sponsored National Library Legislative Day.

Design/methodology/approach

Report.

Findings:

Six major topics were discussed: appropriations, telecommunications/internet, advocacy, government information, privacy and surveillance, and, copyright.

Originaility/value

Offers insights into the National Library Legislative Day 2007.
Around the World to the Technology at the Hub @ WT's, the University of Kentucky's Information Commons
Authors: Greenwell Stacey
Published: September 2007

Purpose:

To present the “Info Hub” at the University of Kentucky Library in Lexington.

Design/methodology/approach

Introduces the University of Kentucky's Information Commons.

Finding

“Information Commons” is an apt phrase that describes a more contemporary approach to how college and university students perceive library‐reading rooms and needs for technology support.

Originality/value

Provides insights into the introduction of the project.
Standard method use in contemporary IS development: an empirical investigation
Authors: McLeod Laurie , MacDonell Stephen , Doolin Bill
Published: September 2007

Purpose

The purpose of this research is to obtain an updated assessment of the use of standard methods in IS development practice in New Zealand, and to compare these practices to those reported elsewhere.

Design/methodology/approach

A web‐based survey of IS development practices in New Zealand organisations with 200 or more full‐time employees was conducted. The results of the survey were compared to prior studies from other national contexts.

Findings

The results suggest that levels of standard method use continue to be high in New Zealand organisations, although methods are often used in a pragmatic or ad hoc way. Further, the type of method used maps to a shift from bespoke development to system acquisition or outsourcing. Organisations that reported using standard methods perceived them to be beneficial to IS development in their recent IS projects, and generally disagreed with most of the published limitations of standard methods.

Research limitations/implications

As the intent was to consider only New Zealand organisations, the results of the survey cannot be generalised further afield. More comparative research is needed to establish whether the trends identified here occur at a wider regional or international level.

Practical implications

A significant proportion of organisations anticipated extending their use of standard methods. Growth in packaged software acquisition and outsourced development suggests an increasing need for deployment management as well as development management, possibly reflecting the increased visibility of standard project management methods.

Originality/value

The relevance of traditional standard methods of IS development has been questioned in a changing and more dynamic IS development environment. This study provides an updated assessment of standard method use in New Zealand organisations that will be of interest to researchers and practitioners monitoring IS development and acquisition elsewhere.
Computer‐based learning enhanced by surprise: an evolutionary psychological model
Authors: Kock Ned
Published: September 2007

Purpose

The purpose of this research is to discuss a variety of empirical findings suggesting that surprise is positively related with enhanced memory recall. This opens the door for the assumption that surprising stimuli can be used in a controlled way to enhance learning.

Design/methodology/approach

A predictive model based on a Darwinian interpretation of this phenomenon is proposed. The model is coined CLEBS, which stands for “computer‐based learning enhanced by surprise”.

Findings

A discussion on how the model can be tested is provided in the context of a finance‐oriented Web‐based learning task, where subjects learn about investment instruments such as stocks and bonds.

Originality/value

Important implications are discussed, including possible applications in a variety of areas of interest to organizations in general.
Evaluating a digital divide index in a regional context
Authors: Beynon‐Davies Paul , Hill Rebecca
Published: September 2007

Purpose

The purpose of this research is to show that the provision of an increasing range of remote, electronic access channels by private and public sector bodies is predicated on a critical mass of citizenry utilising such access channels. However, a major concern is that the increasing use of ICT for private and public sector transactions is seen as potentially creating a “digital divide” between those with access to technology and those who do not. This paper adapts an index of the digital divide documented in previous work and utilises this instrument to analyse the depth and breadth of this phenomenon in a UK region – Wales.

Design/methodology/approach

The paper discusses the construction of a “digital divide index” (DDIX) for Wales based upon the previous established work of Husing and Selhofer. The DDIX is applied to data collected as part of a major European‐wide project – UNDERSTAND.

Findings

The DDIX situates four citizen segments in terms of internet access and usage – gender, age, education and income. There are no significant digital divides evident within the Welsh region in terms of gender and income. However, there are significant digital divides in terms of age and education.

Research limitations/implications

The DDIX as formulated considers a limited range of possible dimensions, both in terms of citizen groups and internet access and usage. Other possible dimensions for consideration are discussed in the paper.

Practical implications

Our application of a DDIX has been useful in highlighting the multi‐faceted nature of this phenomenon within a regional context. Further research is required both to refine such an important information society metric and to apply it in further domains of analysis.

Originality/value

The paper will be of interest both to academic researchers and policy‐makers interested in understanding and measuring the digital divide.
The value relevance of accounting variables and analysts’ forecasts
Authors: Mui‐Siang Tan Patricia , Yeow Lim Chee
Published: September 2007

Purpose

This paper seeks to address the value relevance of summary accounting measures and fundamental income statement variables in the market valuation of biotech firms.

Design/methodology/approach

A biotech firm's stock price was related to its underlying financial accounting variables. Using the Ohlson model, the linear function of book value and earnings was employed, and the basic model was augmented with additional accounting variables. These accounting variables may provide information relevant for forming an approximation on the present value of expected future abnormal earnings.

Findings

Results show non‐linearities in the pricing of accounting variables Both book value and earnings are value relevant, but positive earnings are positively priced while negative earnings are negatively priced. R&D spending and selling, general and administrative expenses are also priced as assets for loss‐reporting firms, and as expenses for profit‐reporting observations. Including analysts’ forecasts of future earnings and long‐term growth rate in the model results in an insignificant increase in the explanatory power of the regressions.

Research limitations/implications

Future research could attempt to examine the role of non‐financial variables which can proxy for the soft variables and intangibles like strategic alliances and product pipeline. Decomposing revenue into product sales, interest income and collaborative research revenue may further enhance our understanding on the determinants of the market value of biotech stocks.

Originality/value

This paper provides insights into the valuation of biotechnology stocks. Results show non‐linearities in the pricing of summary accounting measures and fundamental income statement variables.
Disclosure policy and intraday spread patterns
Authors: Heflin Frank , Shaw Kenneth W. , Wild John J.
Published: September 2007

Purpose

The purpose of this paper is to study the relation between financial analysts’ ratings of firms’ disclosure policies and the intraday pattern in spreads between specialists’ bid and ask price quotes.

Design/methodology/approach

Measure of the disclosure policy is based on financial analysts’ ratings of the quality of firms’ annual reports, quarterly and other information, and investor relations activities. The bid‐ask spread is the ask price minus the bid price. Time‐weighted bid‐ask spreads were measured over half‐hour trading intervals. Generalized method of moments is used to estimate regressions of bid‐ask spreads on disclosure policy ratings and controls for trading volume, price volatility, and share price.

Findings

It was found that spreads are uniformly lower for firms with higher‐rated disclosure policies in all half‐hour trading intervals during the day. In addition, increases in spreads in the first two half‐hours of trading are smaller for firms with higher‐rated disclosures. Finally, our evidence suggests spreads increase more in the last half‐hour of trading for firms with better disclosure policies, and subsequent tests suggest this is due to greater end‐of‐day liquidity trading.

Research limitations/implications

These results suggest that disclosure policy is a determinant of both the level and pattern of intraday bid‐ask spreads. Firms with higher‐rated disclosure policies have a more liquid market for their shares, which is theoretically linked to a lower cost of capital. In addition, better disclosure mitigates the decrease in market liquidity typically observed at the open of daily trading.

Practical implications

Better disclosures can help reduce market frictions.

Originality/value

This paper is the first to study the relation between disclosure policy and intraday spread patterns.
A meta‐analysis of the international evidence of cloud cover on stock returns
Authors: Keef Stephen P. , Roush Melvin L.
Published: September 2007

Purpose

This paper provides a meta‐analysis of the Hirshleifer and Shumway's results on the casual influence of daily cloud cover on stock index returns for 26 international stock exchanges. It aims to test whether these results are influenced by the location of the stock exchange and the development of the economy.

Design/methodology/approach

A conventional meta‐analytic procedure is used to synthesise the data. The effect size, of the influence of cloud cover on stock returns, is measured by the Fisher Z correlation coefficient. This is obtained from the t‐statistic of the slope coefficient reported in the regression for each country. Two study characteristics are used to differentiate between the 26 stock exchanges. These are the latitude of the city and the per capita Gross Domestic Product of the country.

Findings

The influence of cloud cover on stock returns becomes more negative as latitude increases and more negative as per capita Gross Domestic Product increases. A cloud cover effect does not exist at the equator.

Practical implications

The implication is that trading rules based on cloud cover will be more profitable at higher latitudes.

Originality/value

Meta‐analyses are infrequently used in the Finance literature. This paper illustrates their utility.