bluuebunny/crossref_metadata_2025 huggingface dataset:
The behavioral sequence of information education services industry in Taiwan: relationship bonding tactics, relationship quality and behavioral loyalty
Authors: Liang Chiung‐Ju , Wang Wen‐Hung
Published: June 2007

Purpose

The purpose of the paper is to summarize existing evidence about the behavioral sequence of relationship marketing at the individual customer level, and to offer a conceptual model of the impact of particular behaviors that signal whether customers remain with or defect from the company.

Design/methodology/approach

Based on the SEM tool of Lisrel (Linear Structure Relation), this study develops and empirically tests a model examining the relations among relationship bonding tactics, perceived relationship investments, customer satisfaction, trust, commitment and customer behavioral loyalty, as relationship duration was used as a controllable variable in a relationship marketing system.

Findings

Based on a sample collected from PC school, the largest information services institute in Taiwan, the results show that all three kinds of relationship bonding tactic do have significant influence on perceived relationship investment except for financial ones. Besides, the results show that customer satisfaction is very important in reinforcing customers' trust, commitment and repurchase intentions within the relationship marketing system. Finally, relationship duration does have a positive influence on both customer satisfaction and customer behavioral loyalty.

Practical implications

According to this research, managers should effectively segment their customers into several groups and use different marketing programs for customers of various characteristics, so as to get effective and efficient results.

Originality/value

The research suggests that managers of information education services institutes should be serious about targeting investment dollars to improve customer satisfaction, and know why customers buy what they are selling.
Hungary: recent efforts to strengthen legislation and domestic anti‐money laundering agency capabilities
Authors: Roule Trifin J.
Published: June 2007

Reviews current laws and regulations: predicate offences, cross‐border currency exchange, anonymous accounts, reporting information and confiscation regime. Moves on to domestic bureaucratic structures and responsibilities: the Anti‐Money Laundering Section, the Hungarian customs authority, the National Bank of Hungary, the Hungarian Financial Supervisory Authority, and the Anti‐Money Laundering High‐Level Policy Co‐ordination Body. Concludes that the Hungarian financial sector remains vulnerable to money laundering, partly because of the country’s geographical location and also because of the presence of powerful organised criminal groups, while its modern communication and transportation give easy access to smuggling networks.
Reporting suspicions of money laundering and whistleblowing under German law
Authors: Blöker Katlen
Published: June 2007

Outlines the reporting duties of credit institutions in cases of suspicious transactions, for instance when there is no apparent purpose, the transaction does not meet the client’s needs or is unnecessarily complicated; and the reporting procedures, including who must notify the authorities, form requirements, consequences for the transaction, internal procedure, and legal privileges and risks. Continues with the reporting duties of other professionals, including the envisaged changes under the European Union draft guidelines and the implications for legal advisers, who have protested against the proposed changes as a violation of civil rights to secrecy and confidentiality; this view is shared by the European Parliament. Gives a case study of a court decision which acquitted an defence attorney of knowingly accepting a fee derived from drug dealing, while another case convicted two lawyers for knowingly accepting a fee from a pyramid selling scheme; defence attorneys are still excluded from reporting duties, so the legal position is not clear.
The utility of independence in preventing audit failure
Authors: Hemraj Mohammed B.
Published: June 2007

Focuses on independence as an essential component in preventing audit failures and why the audit profession needs to maintain independence to improve its services. Outlines the Code of Professional Conduct from the Accountancy Body, and the draft rules on ethics by the joint accountancy committee in 1993. Indicates what the threats are to independence: being indebted to a client company, receiving a recurring fee which is over 15% of the practice’s gross fee, accepting a loan from a client or goods and services on favourable terms, owning shares in it, and so on. Suggests that responsibility for appointing auditors should be handed back to shareholders, that auditors should be rotated every three years, and that a limit be put on the proportion of the auditor’s income from a single client.
Recovering the proceeds of corruption
Authors: Chamberlain Kevin
Published: June 2007

Uses the Abacha case to illustrate the difficulties of recovering assets that are the proceeds of grand corruption by politicians and officials who have held high office; in these cases the corruption has reached the scale that the culprits ensure that their gains are put outside the jurisdiction of the victim country and laundered to disguise their origins. Looks at the procedures available in the UK to enable countries like Nigeria to locate and seek return of their looted assets, and at some important changes in this area as a result of the Proceeds of Crime Act 2002; these include the mutual legal assistance (MLA), so that assets in one country that are relevant to criminal proceedings in another can be restrained, and the ability to prosecute in the UK for crimes committed abroad. Outlines how MLA works: requests for evidence, search and seizure, investigations into the proceeds, restraint and confiscation. Concludes with prosecutions for money laundering, and civil proceedings.
Money laundering in Iranian law: present and future
Authors: Rahmdel Mansour
Published: June 2007

Traces the basis for forfeiture of illicit gains from drug trafficking in Iranian law, with special emphasis on the new Bill of Law on Money Laundering in Iran. Outlines the rules for the confiscation of illegal funds or incomes that do not have all the elements of laundering, according to Article 46 of the Constitution of Iran, and further laws that have been passed since: the Revolutionary Courts and Prosecution Office Regulation, the Anti‐Drugs Act 1980, and the Anti‐Drugs Act 1988 (amended 1997). Summarises the new Bill’s provisions: kinds of money and suspicious transactions (it distinguishes between “grey”, “black” and “dirty” money); the powers of the court, which include freezing accounts and requiring information for inspections; persons subject to the Act, which include a wide range of financial and other organisations; their duties, which are reporting to the High Council a variety of activities; and the crimes and punishments.
Terrorist financing: foxes run to ground
Authors: Aufhauser David D.
Published: June 2007

Reviews the progress of the measures against terrorism, a task hugely accelerated since the attacks of September 11. Outlines the US President’s power as expressed in the Executive Order on 24 September 2001; this was global in scope, and was targeted at terrorist financing and all associated with them, including even those like financial intermediaries who should have known better what was going on. Regards the creation of knowledgeable gatekeepers by the Patriot Act as crucial in the campaign for information flow in order to control the flow of funds between national borders, and explains the main provisions of the Act. Shows how the USA is building an international coalition of countries committed to the principles in the President’s Order.
Chinese criminal law concerning money laundering
Authors: Ping He
Published: June 2007

Traces the evolution of criminal law against money laundering to the UN Convention Against Illicit Traffic in Drugs and Psychotropic Substances 1988, which required member countries to stipulate a domestic offence of concealing drug trafficking proceeds; this was ratified in China and followed by the Decision on Suppressing Drug Dealing 1990. Outlines subsequent Amendments of the Chinese Criminal Code which from 1997 have expanded money laundering control; the predicate offences cover smuggling, organised crime, terrorism and drug‐related crime, and sentences have been increased. Explains the principles behind this legislation, including the concept of scienter as the mens rea, ie the obligation to know that money has originated from a predicate offence, and the five types of money laundering behaviour under the Code; punishments involve loss of freedom, fines, and confiscation of illegal gains.
Recent legislative, regulatory and bureaucratic initiatives to increase anti‐money laundering efforts in Ukraine
Authors: Roule Trifin J. , Salak Michael
Published: June 2007

Introduces the status of money laundering control in Ukraine: in 2001 the country was placed on the list of Non‐Cooperative Countries and Territories by the Financial Action Task Force, and the authorities pledged to intensify their enforcement efforts. Outlines the new Criminal Code and its comprehensive anti‐money laundering legislation, which has been accompanied by establishment of a new State Department of Financial Monitoring which is responsible for all anti‐money laundering implementation, and intensified efforts by the National Bank of Ukraine and other existing agencies; despite this, Ukraine will remain on the list until effective implementation is judged to have occurred.
Money laundering through underground systems and non‐financial institutions
Authors: El Rahman Abdalla El Sheikh Fath
Published: June 2007

Lists the many illegal sources of dirty money. Describes the underground techniques used to launder dirty money; they include investment in real estate or industrial projects, barter deals, and trading in commodities, diamonds and precious metals. Outlines measures to combat these techniques in the Arab countries of the Gulf Cooperation Council, Afghanistan, and Egypt. Details the provisions of Egypt’s Illicit Enrichment Act, Socialist Prosecutor Act, Emergencies Act, and Penal Code; further legislation may be necessary, based on the Recommendations of the Financial Action Task Force.
Israel: the impact of the anti‐money laundering legislation on the banking system
Authors: Plato‐Shinar Ruth
Published: June 2007

Describes the background to the Prohibition on Money Laundering Law, 5760‐2000, which criminalises money laundering and reflects the fact that Israel had become a haven for money launderers in the preceding decade. Lists offences under this law, obligations imposed on providers of financial services, enforcement and sanctions, the Competent Authority and the Database of reports on irregular or suspicious transactions and activities. Moves on to the Prohibition on Money Laundering Order, 5761‐2002, which imposes obligations on banks of identification, reporting and record‐keeping. Outlines finally the guidelines on Prevention of Money Laundering, Identification of Customers and Record‐Keeping.
Canada’s laws on money laundering and proceeds of crime: the international context
Authors: Murphy Daniel P.
Published: June 2007

Begins with the Canadian Proceeds of Crime (Money Laundering) Act 1991, which was amended after 2001 into the Proceedings of Crime (Money Laundering) and Terrorism Financing Act. Looks at developments against money laundering in other countries such as the UK and USA; some prominent international measures and conventions include the 1988 United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, the 1990 Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds of Crime, the Organisation for Economic Cooperation and Development Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, and the Palermo Convention of the United Nations. Mentions also relevant United Nations conventions against terrorism and corruption. Moves on to international standards, mentioning the work of the Basel Committee, the World Bank and the International Monetary Fund. Examines in detail the work of the Financial Action Task Force, which has become the recognised international forum on money laundering matters, and its 40 recommendations.
The anti‐money laundering regime in the Republic of Nauru
Authors: Roule Trifin J. , Salak Michael
Published: June 2007

Describes how Nauru was put on the Financial Action Task Force (FATF) list of countries which are centres for money laundering; in response to this, the Nauruan Parliament passed the Anti‐Money Laundering Act of 2001. Mentions its provisions: it criminalised money laundering, established the Financial Institutions Supervisory Authority, and introduced know‐your‐customer obligations. Points out, however, that this failed to meet all the FATF 40 Recommendations, mainly because it did not mandate oversight of over 400 offshore centres or “shell banks”, so that FATF members applied sanctions to Nauru. Outlines the Republic’s existing financial services regime; the Evidence (Confidential Information) Act 1976 established Nauru as a safe haven by defining individual rights against disclosure, and its banking and company law were similarly deficient from the FATF’s point of view. Concludes that Nauru has made progress towards effective anti‐money laundering regulation, but serious issues remain unresolved in the ongoing political and economic turmoil.
Money laundering, Terrorism, Regulation, Laws and legislation
Authors: Cassella Stefan D.
Published: June 2007

Describes a new form of money laundering which does not involve proceeds of past crimes but clean money intended to be used to commit future crimes. Adduces the financing of terrorism as the obvious example: the cash for the attacks of September 11 may have been clean, but the purpose was deadly. Points out that, because anti‐money laundering legislation is mostly backward looking, it tends not to address the financing of future crimes. Looks at the initial attempts in US legislation to correct this: the PATRIOT Act made smuggling more than $10,000 currency in or out of the country illegal, while moving money in or out of the country in order to commit a crime was already a crime in itself. Argues that a domestic version of this statute is necessary, and suggests how such a law could be crafted, mentioning Section 1960(b)(1)(c) of the PATRIOT Act.
The confiscation, forfeiture and disruption of terrorist finances
Authors: Bell R. E.
Published: June 2007

Uses open source material to examine how terrorist groups raise money for their operations, and how this can be disrupted. Discusses the costs of terrorist campaigns, the sources of terrorist funding and the laundering of terrorist finance, UK anti‐terrorism legislation, the problems for financial institutions in knowing the source of what may be quite small funds, and terrorist groups’ organisational structures and financial arrangements. Moves on to legal proceedings and the difference between evidence versus intelligence. Shows how to combine strategies, including conviction for terrorist finance offences followed by forfeiture, cash forfeiture, civil forfeiture, freezing of terrorist funds, conviction for “ordinary” criminal offences followed by confiscation, taxation, disruption by frequent inspections, and regulatory action using bureaux de change, money transmission services, and charities. Outlines the conditions for effective strategy, including cultural and structural change, and resource management, and concludes by considering a global approach, and how to measure success.
The threat of terrorism and Singapore’s legislative response to terrorism financing
Authors: Sin Liang Tan
Published: June 2007

Describes planned and actual terrorist attacks in recent years, focusing on the plans of the Jemaah Islamiyah to attack Singapore, and the legislative response to Singapore to the threat; this has taken the form of a slew of separate laws. Continues with the separate legal regimes covering money laundering and terrorist offences, and the outlines of each. Discusses the problems facing bank advisers or compliance officers in ensuring that customers are not terrorists, and the penalties facing all financial institutions, residents or citizens for failing to disclose relevant information to the authorities: whistleblowing is mandatory. Concludes that Singapore’s response to the very real threat of terrorist attack has been robust and comprehensive; there is some unnecessary duplication in the number of laws passed, however.
The Chinese financial institution campaign against money laundering
Authors: Li‐fang Zhu , Ping He
Published: June 2007

Deals with the background and main content of the three rules adopted in January 2003 by the People’s Bank of China (PBC): Rules for Anti‐Money Laundering by Financial Institutions, Administrative Rules for the Reporting of Large‐Value and Suspicious RMB (Renminbi) Payment Transactions, and Administrative Rules for the Reporting by Financial Institutions of Large‐Value and Suspicious Foreign Exchange Transactions. Defines money laundering and outlines the principles of anti‐money laundering, the PBC as supervisory authority, customer identification obligations, the large‐value and suspicious reporting systems, account information and transaction record keeping, and legal responsibilities for offences against rules.
A balancing act: offshore financial centre strategy and the global anti‐money laundering movement
Authors: Oberg Conrad
Published: June 2007

Focuses on offshore banking secrecy and how it affects the operation of anti‐money laundering endeavours like the Financial Action Task Force (FATF); it prevents onshore countries from knowing how offshore financial centre (OFC) jurisdictions control drug trafficking, terrorism and other serious crimes. Relates the author’s original research from 2002, aimed at finding ways to collect primary data behind the bank secrecy in the OFCs; this involved economic psychology and the grounded theory method. Presents a case study to show how OFCs perform a balancing act: they must adapt to the FATF requirements on anti‐money laundering legislation in order to avoid the Non‐Cooperative Countries and Territories (NCCT) blacklist, while maintaining a profitable financial sector. Reports a seminar organised by a prominent OFC in 1997, with speeches by the Prime Minister, Attorney‐General and leading bankers and lawyers.
The prevention of money laundering in India
Authors: Kumar B. V.
Published: June 2007

Outlines legislation in a country which was one of the first in the world to introduce anti‐money laundering legislation, a wartime measure in 1939, with later foreign exchange control laws up to 1973; more recent laws include the Foreign Exchange Management Act 1999 and the Prevention of Money Laundering Act 2002. Summarises the provision of these two laws as they cover the offence of money laundering and its punishment; attachment, adjudication and confiscation; composition and powers of the adjudicating authorities; obligations of financial institutions and intermediaries, powers of summons and survey, search and seizure, the appellate tribunal, special courts, officers to assist in inquiry, and mutual assistance between India and other countries over information exchange, investigation, confiscation of illegally acquired property etc.
Anti‐money laundering legislation in St Vincent and the Grenadines
Authors: Drayton Fitz‐Roy
Published: June 2007

Outlines laws in force before newly passed legislation; the cornerstone was the Confidentiality Act 1996, whose provision of confidentiality was noticed by the Financial Action Task Force when it issued its list of Non‐cooperative Countries and Territories in 2000. Summarises the new legislation such as the Proceeds of Crime and Money Laundering (Prevention) Act 2001 and the Proceeds of Crime and Money Laundering (Prevention) (Amendment) Act 2002. Moves on to the work of the Financial Intelligence Unit, the International Banks (Amendment) Act 2002, the International Business Companies (Amendment) Act 2002, the International Trusts (Amendment) Act 2002, and the Exchange of Information Act 2002.
The Asian alternative remittance systems and money laundering
Authors: Shehu Abdullahi Y.
Published: June 2007

Analyses the alternative and informal remittance systems that characterise many Asian transactions; they are also known as informal value transfer systems, underground banking systems and so on: unlike money laundering, they are not based on deception and may indeed be licensed. Traces the origins of these systems, which are of two main types: the Chinese fei chi’en system and the Indian hawala/hundi system. Describes the two systems, and goes on to the reasons for their growing popularity: the increased migration of Asian populations to the rest of the world, the systems’ perceived efficiency, timeliness, cost effectiveness and lack of bureaucracy, the remoteness from banks of some areas, the desire of the Chinese to conceal wealth, and insufficient supply of foreign exchange in some countries.
The Wolfsberg Principles ‐ an analysis
Authors: Haynes Andrew
Published: June 2007

Explains how the Wolfsberg Principles came about in late 2000, when leading banks met at Wolfsberg castle in Switzerland to improve private banking standards for combating the huge amounts of money being laundered; two further sets of Principles have appeared since the original. Discusses the reasoning behind the Principles: to create a common standard which would lessen the complexity and uncertainty from running multinational banks across disparate anti‐money laundering regimes. Lists the Wolfsberg Principles Relating to the Suppression of Terrorism, and concludes that they represent a triumph of risk‐based over rule‐based management; this should result in more precise and practice‐based regulations than from the traditional regulator‐led compliance approach.
Should gambling be a predicate for money laundering?
Authors: Shehu Abdullahi Y.
Published: June 2007

Defines predicate‐based offences as derivative offences, ie offences like money laundering that depend on the existence of others. Examines gambling as a rational choice social activity, estimates the scale of the industry with regard to its revenues and social costs, and considers whether it is predicate for money laundering. Argues that gambling can create wealth, but this wealth is not necessarily illegal, as gambling is not always illegal; gambling is an endeavour like banking, and since the latter is not a predicate for money laundering but an intermediary, so is gambling.
Japan’s efforts in the global fight against money laundering and terrorist financing
Authors: Kishima Koji
Published: June 2007

Describes briefly the measures taken by Japan as part of the fight against terrorism; Japan was a founding member of the Financial Action Task Force. Outlines the provisions of the Law for Criminalisation of the Financing of Terrorism, passed in 2002, which criminalises terrorist financing even before commission of a criminal act, and also covers criminal acts outside Japanese jurisdiction. Moves on to the Anti‐Organised Crime law, which now allows seizure of these funds and requires financial institutions to report suspicious transactions; and the Law on Customer Identification and Retention of Records on Transactions with Customers by Financial Institutions, which requires financial institutions to keep customer identification records. Focuses on the performance of the Japanese Financial Intelligence Office (JAFIO) in analysing suspicious transaction reports and passing on relevant information to law enforcement agencies.
Periodic account activity and automated money laundering detection
Authors: Young Carl
Published: June 2007

Introduces the use of account activity relative to client peer groups as a means of identifying unusual behaviour, as part of money laundering detection; assumptions can be made about what constitutes normal transactional behaviour for an individual, so that deviations from this can generate risk factors. Analyses an account history as a time series of asset movements that can be characterised by a function whose Fourier transform can be computed, yielding a function of a frequency; the so‐called Power Spectrum can be derived, and this specifies the “power” or magnitude of asset movement in the account as a function of frequency. Points out that the method also allows detailed inter‐institutional comparisons of account activity.
Macau casinos and organised crime
Authors: Veng Mei Leong Angela
Published: June 2007

Presents research into how casinos in Macau, the “Monte Carlo of the Orient”, link with organised crime. Outlines the research methodology, which includes 16 in‐depth interviews with staff from law enforcement agencies, the gambling industry and elsewhere, plus field observations and secondary sources. Describes the pyramid structure of the “bate‐ficha” business and the triads which act as bouncers and protectors. Looks back at how the Macau colonial government regarded gambling as a vital industry from which it obtained most of its revenues, and in return gave the Sociedade de Turismo e Diversoes de Macau (STDM( the gaming monopoly; this symbiotic relationship created openings for triad infiltration and resulting skimming, money laundering and corruption. Concludes that the relationship between government and gaming had benefits, but the monopoly structure gave no incentive for improvement, while the situation anyway deteriorated in the 1990s as casino revenues fluctuated; unregulated competition led to increased crime and there is now urgent need to reform industry policing and management.
Recent developments in Taiwan’s anti‐money laundering and anti‐terrorism work
Authors: Ching Chi‐Jen
Published: June 2007

Discusses Taiwan’s achievements in combating money laundering. Outlines the criminal justice system and the 1996 Money Laundering Control Act (MLCA(, which covers the seizure and forfeiture of criminal proceeds and established a framework for Taiwan’s international cooperation in this area. Describes the work of the Ministry of Justice in drafting policy and overseeing investigations and prosecutions. Moves on to the 2002 Anti‐Terrorism Act and its punishments for terrorist activity, followed by the Anti‐Terrorism Action Group and the provisions of the MLCA for international cooperation.
International anti‐money laundering and anti‐terrorist financing: the work of the Office of the Superintendent of Financial Institutions in Canada
Authors: Burbidge Nicolas W. R.
Published: June 2007

Focuses on the work of Canada’s Office of the Superintendent of Financial Institutions (OSFI( in relation to international cooperation against money laundering and terrorism. Outlines Canada’s international obligations to the Financial Action Task Force, International Monetary Fund, United Nations, and to the international bodies concerned with customer due diligence and related matters: these are the Basel Committee on Banking Supervision and the International Association of Insurance Supervisors. Moves on to OSFI’s relationship with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC(. Lists some of the categories of higher risk that federally regulated financial institutions (FRFI( are expected by OSFI, following international regulators, to recognise as far as customer identification standards are concerned. Summarises OSFI’s anti‐money laundering guidelines. Indicates other areas of financial crime that OSFI combats: financial institution identity theft and advance fee scams, and the growing of marijuana plants in “grow houses”.
A survey of money laundering reporting officers and their attitudes towards money laundering regulations
Authors: Webb Laurence
Published: June 2007

Assesses the approach of London’s city banks towards the UK money laundering regulations, based on interviews with their Money Laundering Reporting Officers (MLROs(; the questions to the MLROs concerned their position in the bank, their attitudes to the regulations, the main benefits and costs for the bank of compliance with the regulations, and the type of anti‐money laundering training organised by the bank. Found that 27% of the MLROs had generally positive attitudes to the regulations and 40% had balanced or neutral attitudes; the 33% negative attitudes often involved the “know your customer” rules. Concludes that these banks take their anti‐money laundering responsibilities very seriously since the Financial Services Authority has new powers to prosecute non‐compliance; larger banks tended to have more positive attitudes than small or medium size banks. Recommends specific measures for optimising compliance.
A framework for data mining‐based anti‐money laundering research
Authors: Gao Zengan , Ye Mao
Published: June 2007

Purpose

The purpose of this paper is to propose a framework for data mining (DM)‐based anti‐money laundering (AML) research.

Design/methodology/approach

First, suspicion data are prepared by using DM techniques. Also, DM methods are compared with traditional investigation techniques. Next, rare transactional patterns are further categorized as unusual/abnormal/anomalous and suspicious patterns whose recognition also includes fraud/outlier detection. Then, in summarizing the reporting of money laundering (ML) crimes, an analysis is made on ML network generation, which involves link analysis, community generation, and network destabilization. Future research directions are derived from a review of literature.

Findings

The key of the framework lies in ML network analysis involving link analysis, community generation, and network destabilization.

Originality/value

The paper offers insights into DM in the context of AML.
Exploring the Greek national business system
Authors: Psychogios Alexandros G. , Szamosi Leslie T.
Published: June 2007

Purpose

This paper seeks to explore the Greek National Business System (NBS) in terms of management practices, organizational culture and public administration. Moreover, the need for modernization is analyzed with focus on total quality management (TQM) as the major issue on this agenda.

Design/methodology/approach

This study utilizes a critical literature review approach to draw together and conceptualize the modernization agenda of the Greek NBS.

Findings

This paper supports the idea that there is a need to put promising management practices into the context of the Greek national business system and to study not only the market situation, the industrial relations history and the HR practices used, but also how these practices are understood and used by managers and employees who work in different employment sectors.

Practical implications

The findings of this study may have a broader impact as Greece attempts to redefine itself as a hub for South‐East Europe.

Originality/value

Since most academic studies concerning the application of promising management strategies like TQM have been conducted in Anglo‐Saxon countries, there is a need to remove the blinkers and explore these management initiatives in the context of other than Anglo‐Saxon NBSs.
The development of the corporate bond market in Croatia
Authors: Miloš Sprčić Danijela , Wilson Ian
Published: June 2007

Purpose

The overall purpose of the paper is to examine the factors influencing the speed of development of corporate bond markets and, within that, to investigate the factors that Chief Financial Officers in large Croatian companies consider important in using corporate bonds as a financing method and the barriers they perceive as inhibiting issuing of corporate bonds.

Design/methodology/approach

A survey was carried out of a sample of Chief Financial Officers from the largest companies in Croatia.

Findings

The paper concludes that a range of macro‐level, industry level, market level and firm level factors influence the rate at which corporate bond markets develop and that, in Croatia, progress can be expected to be inexorable, but slow.

Practical implications

Although a range of factors contribute to the speed at which a country's corporate bond market develops, it is clear that, in the case of Croatia, there needs to be more education of chief financial officers about the institutional and legal frameworks already in existence.

Originality/value

The paper contributes new empirical findings as it presents the first research that has been conducted on the Croatian capital market. The paper adds value to the conceptual understanding of the phenomena of bond market development.
Do determinants of online shopping differ for personal shoppers and professional shoppers?
Authors: Bhatnagar Amit
Published: June 2007

Purpose

Individuals use the web for shopping for both personal and professional objectives. The purpose of this paper is to show that the demographic profile of individuals who shop online for personal reasons is different from that of those who shop for professional reasons.

Design/methodology/approach

Based on marketing literature, hypotheses were generated regarding the relationships between proclivity to purchase online and demographics. The data were collected through online surveys, and the hypotheses tested with an ordinal regression model.

Findings

This research indicated that individuals with children, high incomes, and large internet experience are more likely to shop online for personal purposes and younger men with large internet experience are more likely to shop online for professional purposes.

Research limitations/implications

One of the limitations of this study is that it focuses on only the demographic determinants, and ignores others, such as reputation and size, service quality, overall ease of use and usefulness of the web site, etc.

Originality/value

This paper would be valuable to online retailers, as it will help them to identify their target customers.
New graduate employment within SMEs: still in the dark?
Authors: Holden Rick , Jameson Stephanie , Walmsley Andreas
Published: June 2007

Purpose

A report conducted for the Government in 2002 concluded that public policy, although rising to the challenges presented in stimulating a stronger relationship between supply and demand in the SME graduate labour market, was essentially “running blind”. SMEs were clearly playing an increasingly important role in the wider graduate labour market, yet the evidence base on patterns of recruitment, deployment and graduate contribution was weak and insubstantive. The purpose of this paper is to revisit this issue and critically review research undertaken since 2002.

Design/methodology/approach

A decision was taken to critically review the research literature published in the UK on graduate employment in SMEs since 2002 as this was the year that the original report was presented to the Government. The methodological design draws out the main findings from the 2002 report and the associated research agenda. This is then used as a basis from which to evaluate recent research. The methodological design ensures that the key themes of graduate recruitment and utilization are addressed within the context of the overall SME graduate labour market.

Findings

The data suggest that whilst there may be some “glimmers of light”, serious deficiencies remain in relation both to information about the SME graduate labour market in general and to the utilization of graduates in particular. There was an apparent shift in the research agenda, towards graduate enterprise and business start‐up.

Originality/value

Provides a timely review of the evidence base in an area which has seen increasing policy interventions. Draws an important parallel with emergent research in the specific field of graduate start‐up.
Creating the reasonable adventurer: the co‐evolution of student and learning environment
Authors: Jones Colin
Published: June 2007

Purpose

This paper seeks to address the issue of how graduate skills are developed. The focus is not on which skills, but rather what type of learning environments are required within higher education to support the development of skills valued and demanded by SMEs within Australia.

Design/methodology/approach

This paper takes a step back to consider the underlying issue of how an individual student's habits of thought are altered. In doing so, the past works of Morgan, Dewey, Whitehead, and Tyler are synthesized with the modern work of Baxter Magolda, Heath, and Biggs.

Findings

It is argued that that without the development of a student‐centred learning environment, most graduates will not develop the types of skills demanded by SMEs in a meaningful way. The failure to treat knowledge and skills as equal drivers of curriculum design will result in an imbalance that relegates skill development to a secondary learning outcome.

Practical implications

By removing the distraction of what skills should be developed, a clearer focus is possible regarding how educators should assist students to develop a broad array of generic graduate skills. From this perspective, skills can be viewed as an essential element of the educational process, rather than a new element that must be squeezed in between content.

Originality/value

This paper extends recent discussion of skills development through the use of an evolutionary perspective. Viewed as a process of creating social change, education becomes increasingly connected to a world that lies beyond institutional boundaries, thus promoting the notion of developing graduates for the world that awaits them.
Vocational training: trust, talk and knowledge transfer in small businesses
Authors: Butler Allan , Reed Matt , Le Grice Phil
Published: June 2007

Purpose

Vocational training by those involved in small land‐based businesses can lead to innovation as transferred knowledge may be applied to make marginal changes to enterprises or, in some cases, a major reorganisation of resources within a business. The purpose of this paper is to explore how knowledge is disseminated in personal business networks and how this is used in a very traditional industry.

Design/methodology/approach

A synthesis of three interrelated concepts, those of knowledge, social network structure and trust in relationships, provides the basis for a tripartite model of knowledge transfer. Through conducting in‐depth interviews, data are collected on each aspect of the model to map the structure of personal business networks, to provide qualitative data on the type of relationships that exist within these and to whom knowledge has been transferred.

Findings

The emphasis on innovation through loose ties or the role of the outsider may not be an appropriate model for small land‐based business. With the pre‐dominance of strong ties and low flows of information, these businesses are unlikely to change either quickly or easily. Radical changes to business structure imply a more costly and focused intervention than the current emphasis on project and programme based support for rural businesses.

Research limitations/implications

Creating a snapshot of knowledge transfer occurring in small land‐based businesses provides valuable insights into the flows of information within a business and how training is deployed. However, a longitudinal study would deepen understanding of how cumulative knowledge transfer is practically implemented.

Originality/value

Applying social network analysis to small businesses to examine knowledge transfer is in itself innovative, particularly as the research draws upon a peer‐group of businesses enabling some comparisons to be made.
Small business owners: too busy to train?
Authors: Walker Elizabeth , Redmond Janice , Webster Beverley , Le Clus Megan
Published: June 2007

Purpose

The reason often cited for the poor relationship between small businesses and their uptake of vocational education and training is that small business owner‐managers claim that they are too busy to engage in training or any type of learning activity and that most training is of little value to them. The aim of the research is to examine the relationship between these factors.

Design/methodology/approach

Using qualitative research methods the study collected data of the knowledge, attitudes and needs of small business owner‐managers, both before and after participation in a training program.

Findings

This study has indicated that small business owners are interested in skills development and training opportunities, provided that they are directly applicable to the current situation in their business, and as long as the delivery process is carefully structured in terms of location, time of day, and length of session.

Practical implications

The success of a human resource management training program offers both an incentive for other educators to continue to pursue small business participation and useful guidelines for the implementation and the development of new programs for the small business sector.

Originality/value

The approach taken in this research has offered important insights into the value of training and how it is evaluated by small business owner‐managers. This is important as owner managers are the primary decision makers about whether or not training takes place.
Training commitment and performance in manufacturing SMEs
Authors: Jayawarna Dilani , Macpherson Allan , Wilson Alison
Published: June 2007

Purpose

This study sets out to examine management development activities within manufacturing SMEs, and their impact on performance. Unlike previous published studies that concentrate on formal training, this empirical analysis includes both formal and informal training. Performance is measured in terms of turnover, employee growth, and survival. It also includes consideration of the firm's context on both training approach and performance.

Design/methodology/approach

Survey responses from 198 manufacturing SMEs in the UK are analysed using descriptive statistics, multiple regression analysis, and ANOVA.

Findings

Findings indicate that formal training is likely to be a targeted activity that contributes more significantly to performance than informal training. Also, the approach and influence of training are dependent on contingent factors. A model is proposed for a further detailed study of these contingent factors using a multivariate statistical analysis.

Originality/value

For SME managers, while they may prefer informal training approaches, they would benefit from seeking a formal training intervention that directly addresses their specific needs. For business support policy, support options need to be flexible enough to provide idiosyncratic solutions. Generic training solutions are not welcomed by SMEs, and are unlikely to provide significant performance benefits. A greater understanding is required of the variety of contingent variables that moderates the relationship between choices of training approach, and between training and performance.
Using training and development to affect job satisfaction within franchising
Authors: Choo Stephen , Bowley Christine
Published: June 2007

Purpose

A review of the literature on franchising has revealed a significant lack of academic research on employee training in franchise systems. Further, most research in this area tended to focus on training for franchises as part of the overall package. This study seeks to address the shortfall of research in this area by investigating the influence of training and development on an employee's job satisfaction at one of Australia's fastest growing franchises.

Design/methodology/approach

This study collected data from 135 frontline staff at one of Australia's largest bakery retail franchises. The data were gathered by means of a structured questionnaire, 16 items of which were devoted to an evaluation of the organisation's training and development programmes and six items were dedicated to job satisfaction.

Findings

There are several key findings for this study. First, the effectiveness and efficacy of a training program are dependent on evaluation of training quality, course design and learning experience. Next, employee satisfaction is found to be influenced by work environment, company values and job responsibilities.

Practical implications

Findings from this study have important managerial implications for retail franchisers and individual franchisees on how to enhance the job satisfaction of employees by the provision of effective training and development programmes.

Originality/value

This empirical study has made a major contribution in adding to the limited body of empirical knowledge on the influence of training and development on job satisfaction in retail franchising. It is hoped that this paper will encourage more academics to investigate the impact of training and development on job satisfaction and retention in franchising.
Real estate assets on corporate balance sheets
Authors: Nelson Theron R. , Potter Thomas , Wilde Harold H.
Published: June 2007

Surveys of senior real estate executives have previously indicated that real estate represents approximately 25 per cent of corporate worth. These surveys, however, relied on self reported estimates of current real estate value. This study uses objective data to investigate the proportionate value that real estate represents on corporate balance sheets. The findings indicate that, when buildings are adjusted for inflation, real estate represents about 40 per cent of total corporate assets. Since corporate worth may also be measured in market value terms, several indexes were constructed to measure the proportion of firm market value represented by real estate assets. With buildings inflation adjusted, real estate represents about 80 per cent of firm market value. Although firm size does have an impact on all the ratios computed in this study, the impact is fairly modest in virtually all cases
Merger preparation: A key to proactive CRE management
Authors: Bloch Bruce M.
Published: June 2007

Corporate real estate executives and their departments can benefit themselves and enhance the value added to their companies by taking applying a merger perspective to their departmental organisation and activities. The dynamics and expectations experienced in actual merger situations can provide a foundation from which to improve one’s departmental organisation, data collection/retention and management techniques, regardless of whether a corporate merger is in one’s future. This paper outlines the components of the merger experience and investigates the benefits of adopting a merger perspective.