bluuebunny/crossref_metadata_2025 huggingface dataset:
Study on venture problem of potential optimal pure strategy solution for grey interval number matrix game
Authors: Fang Zhi‐geng , Liu Si‐feng , Ruan Aiqing , Zhang Xuewei
Published: October 2006

Purpose

A study is made of the payoff matrix which is made up of grey interval number because of asymmetry information, player's finite knowledge and bounded rationality and all sorts of stochastic and non‐stochastic factors.

Design/methodology/approach

On the base of concept of equipollent, superior and inferior potential degree, the paper designs determinant rules of interval grey number potential relations, opens out player's decision‐making laws in the conditions of finite knowledge and logos. And it designs the grey game decision‐making rules which player choices maximum potential degree of grey game value (the most favorableness situation) under the cases of that there are all likely to be minimum potential degree of grey game value (the most disadvantage situation), which is a reliable way for both sides to accept.

Findings

The paper recognizes and defines overrated and underrated risk of potential optimal pure strategy in the grey game, designs arithmetic for determining player's overrated and underrated risk under the situation of potential optimal pure strategy.

Practical implications

The presents system meets the requirement of judging pure strategy solutions in the grey potential situation.

Originality/value

This paper builds up the system of judgment for grey potential.
Future and emerging information technologies
Authors: Rudall B.H. , Mann C.J.H.
Published: October 2006

Purpose

The purpose of this paper is to review future and emerging information systems.

Design/methodology/approach

General review and survey of selected research and development topics.

Findings

Illustrates the multi‐ and trans‐disciplinary nature of cybernetics and systems. Aims to further research and development activity.

Practical implications

The choice of review provides an awareness of the current trends in these areas of endeavour but are necessarily selective.

Originality/value

The reviews are selected from a global database and give a studied assessment of current research and development initiatives.
Islam and totalitarianism, IFSR silver anniversary
Authors: Andrew Alex M.
Published: October 2006

Purpose

A discussion on the CybCom list about relations with Islam and other ideologies is reviewed, as well as another prompted by the 25th anniversary of the International Federation for Systems Research. The latter includes warnings of a perilous situation for mankind, with the suggestion that the work of von Bertalanffy offers a remedy. The Social Science Research Net, and a newsletter giving advice to users of the Windows operating system, are briefly described.

Design/methodology/approach

The aim is to review developments on the internet, especially those of general cybernetic interest.

Findings

Attention is drawn to certain worrying features ascribed to Islamic culture, but with attention also to its peaceful side and much thoughtful discussion about the place of ideologies in society. An imminent crisis in human affairs is predicted, with some pointers towards a remedy.

Practical implications

The CybCom list, and others mentioned, are valuable sources, both of thoughtful treatments and practical hints.

Originality/value

It is hoped this is a valuable periodic review.
The company‐cause‐customer fit decision in cause‐related marketing
Authors: Gupta Shruti , Pirsch Julie
Published: October 2006

Purpose

Cause‐related marketing activities are increasingly becoming a meaningful part of corporate marketing plans. This paper aims to examine the relationship between the company, cause and customer, and how fit between these three groups influences consumer response via generating a positive attitude toward the company‐cause alliance and purchase intent for the sponsored product.

Design/methodology/approach

Two studies are carried out, first among students and second among consumers.

Findings

Two studies (study 1=232 students, study 2=531 consumers) demonstrate that company‐cause fit improves attitude toward the company‐cause alliance and increases purchase intent. Additionally, this effect is enhanced under conditions of customer‐company and customer‐cause congruence, and the consumer's overall attitude toward the sponsoring company. Skepticism about the company's motivation for participating in a cause‐related marketing initiative was not relevant to consumer purchase decisions.

Research limitations/implications

Results from these studies suggest that consumers may in fact make two different assessments of the sponsoring company in a cause‐related marketing campaign. One assessment may be more cognitive where the consumer compares his or her own identity to that of the company: “Is this company like me? Are our identities alike?” The second assessment is more affective or emotional: “Do I like this company? Do I feel positively about this company?” The strength of the consumer sample suggests that when building a cause‐related marketing program, marketing managers should select a cause that makes sense to the consumer to be a partner in the alliance, build a general positive feeling toward their brand, and limit any self‐serving promotion of the cause‐related marketing alliance to the target consumer population.

Originality/value

The paper provides useful information on the relationship between the company, cause and customer, and how the fit between these three groups influences consumer response.
“I'll always be in debt”: Irish and UK student behaviour in a credit led environment
Authors: O'Loughlin Deirdre , Szmigin Isabelle
Published: October 2006

Purpose

This research seeks to explore current attitudes, motivations and behaviours in relation to student credit and debt consumption in the UK and Ireland.

Design/methodology/approach

Key qualitative consumer research based on 20 interviews with Irish and UK higher education students is presented.

Findings

The findings highlight that, while the UK and Irish student contexts are significantly different in terms of accommodation costs, tuition fees and living expenses, many Irish students reported relatively high debt levels, with some exceeding their UK counterparts. The research identifies key contextual factors associated with the credit‐friendly environment in which students live in addition to shedding light on student orientation towards credit and debt, with specific conclusions for future student debt.

Research limitations/ implications

Given the rise in debt and its detrimental consequences, the study has far‐reaching implications for policy makers, consumer agencies financial providers and marketers in terms of creating an environment where good student financial capability and management is developed and facilitated through increased financial education and regulation. The research has implications for other western countries in terms of predicting comparative trends in student credit and debt attitude and behaviour.

Originality/value

This paper addresses the lack of analytical and academic commentary exploring the dynamics and nature of student credit and debt, particularly within an Irish context, in addition to providing a cross‐cultural comparison between credit and debt consumption in Ireland, where debt is a relatively new phenomenon, and the UK, a country well‐entrenched in debt.
The long tail of loyalty: how personalized dialogue and customized rewards will change marketing forever
Authors: Ferguson Rick , Hlavinka Kelly
Published: October 2006

Purpose

This paper is aimed at describing how companies can find new opportunities for customer retention and lifetime value by applying the concepts of dialogue marketing, network‐building and relevant rewards.

Design/methodology/approach

The paper cites the work of Chris Anderson, Editor‐in‐Chief of Wired Magazine, and the work of Italian economist Vilfredo Pareto. The paper explains how the works of these two men, and how programs put into place at two companies (Hewlett‐Packard and Rain Bird), have opened new vistas in customer retention.

Findings

The study found that by applying specific marketing principles, companies can do a better job of retaining all customers, specifically those customers who are not in the top 20 percent of revenue‐producers.

Practical implications

Most companies believe that 80 percent of their business comes from 20 percent of their customers. However, by applying specific marketing principles, companies can do a better job of retaining all customers, specifically those customers who are not in the top 20 percent of revenue‐producers.

Originality/value

The paper takes a new look at an old principle (the 80‐20 Pareto Principle).
How Database‐Driven Web Sites Enhance Accessibility
Authors: Hunter Dunlap Isaac
Published: October 2006

Purpose

This article provides an update on “web accessibility” issues.

Design/methodology/approach

Provides background information on currently applicable accessibility standards and offers a framework for exploring issues and highlighting potential pathways for success.

Findings

This article provides an overview of how a database driven approach to web development can help address significant technical challenges related to providing universal information access.

Originality/value

This paper is useful for information management professionals who seek greater understanding of database driven approach to web development.
Trust: looking forward and back
Authors: Young Louise
Published: October 2006

Purpose

This paper considers ways forward in the study of trust in business relationships and networks.

Design/methodology/approach

The 25 papers focusing on trust previously published in theJournal of Business & Industrial Marketingare categorized as to their focus and compared to the body of work on trust concluding there is little considering the nature of trust. A model that integrates conceptualizations of the past and present and extends these to incorporate nature of trust as affective – including calculation and emotion – is presented.

Findings

This broadened conceptualization of trust contains focused, interacting components enabling both holistic and well as focused study of relationships and the role of trust within them.

Research limitations/implications

An important direction for business relationship and network research is consideration of thebestway to conceptualize and measure trust. The way that trust components combine and vary in different settings, including in different cultures is also needed in future work. Operationalisations that are both more parsimonious and valid are likely.

Practical implications

Understanding as to value of measures of propensity to trust (which this model can guide) has potential value to managers as does an effective measure of generalized trust and understanding as whether this is a first step in relationship trial.

Originality/value

This is first detailed model of the nature of trust in business relationships that has been published in the marketing literature.
The evolution of an evolutionary perspective on B2B business
Authors: Wilkinson Ian F.
Published: October 2006

Purpose

The paper seeks to review recent developments in theory and research regarding the nature and role of relations and networks in business markets and to argue for a more dynamic, interactive and evolutionary view.

Design/methodology/approach

Complexity theory, as well as theories of distributed cognition and control, is used to show that business markets, relations and networks are complex adaptive systems of interacting people, firms, activities, resources and ideas in which no one player is in control.

Findings

The theoretical perspective described has profound implications for management practice, policymaking and research. In particular it leads to the concept of soft assembled strategies in which management and firms utilize the inherent response properties of the relations and networks in which they operate to extend what they can do, sense, know and think.

Research limitations/implications

Relevant research methodologies for addressing the academic, management and policy issues arising from this perspective are described.

Originality/value

The paper shows the relevance of developments in the complexity sciences and distributed cognition to business marketing and management.
Fostering hope: a leader's first and last task
Authors: Walker Keith D.
Published: October 2006

Purpose

The purpose of the article is to call upon educational leaders to consider the forces that hinder hope‐giving and to consider viewing their work as inspiring warranted hope among their constituents in situations of well‐defined reality.

Design/methodological/approach

The author argues that hope is an essential component of leader agency which when unhindered and defined in a multidimensional fashion may be used to transform the experiences of learning communities.

Findings

The author argues that leaders who foster warranted hope in constituents will gain transformational leverage to improve educational practice and the experiences of learners and their communities.

Practical implications

The author provides leaders with an overview of the utility of a reality‐based notion of hope that may serve to legitimate and focus constituent energies and make sense of key organizational challenges.

Originality/value

Provides a unique framing and synthesis of the multi‐dimensional concept of hope into the context of educational leadership, association with relevant allied constructs, and the challenges of education in the twenty‐first century.
Proximate sources of collective teacher efficacy
Authors: Adams Curt M. , Forsyth Patrick B.
Published: October 2006

Purpose

Recent scholarship has augmented Bandura's theory underlying efficacy formation by pointing to more proximate sources of efficacy information involved in forming collective teacher efficacy. These proximate sources of efficacy information theoretically shape a teacher's perception of the teaching context, operationalizing the difficulty of the teaching task that faces the school and the faculty's collective competence to be successful under specific conditions. The purpose of this study was to examine the influence of three contextual variables: socioeconomic status, school level, and school structure on teacher perceptions of collective efficacy.

Design/methodology/approach

School level data were collected from a cross‐section of 79 schools in a Midwestern state. Data were analyzed at the school level using hierarchical multiple regression to determine the incremental variance in collective teacher efficacy beliefs attributed to contextual variables after accounting for the effect of prior academic performance.

Findings

Results support the premise that contextual variables do add power to explanations of collective teacher efficacy over and above the effects of prior academic performance. Further, of the three contextual variables school structure independently accounted for the most variability in perceptions of collective teacher efficacy.

Research limitations/implications

A sample of 79 schools was considered small to accurately test a hypothesized model of collective teacher efficacy formation using structural equation modeling. That approach would have had the advantage of permitting the researchers to identify the relationships among the predictor variables and between the predictors and the criterion. Additionally, there was a concern of possible aggregation bias associated with aggregating collective teacher efficacy scores to the school level. Despite these limitations, the findings hold theoretical and practical implications in that they defend the theoretical importance of contextual factors as efficacy sources. Furthermore, formalized and centralized conditions conducive to promoting perceptions of collective efficacy in teachers are identified.

Originality/value

Extant collective efficacy studies have generally not operationalized Bandura's efficacy sources to include the effects of current context. This study does.
Inside advice on educating managers for preventing employee theft
Authors: Alstete Jeffrey
Published: October 2006

Purpose

Employee theft is a large problem for firms of all sizes, particularly small businesses where profit margins are often slim. The purpose of this paper is to examine the perceptions of current and previous employees regarding their advice for detecting and preventing employee theft.

Design/methodology/approach

The study presents and analyzes the responses and ensuing discussion to questions posed to 79 individuals in three college‐level entrepreneurship courses. Using a controlled internet discussion board, an interactive dialogue developed among the study participants. The relationship of these findings to the existing literature on employee theft and how these findings support and expand the scholarship base is examined.

Findings

According to the qualitative research findings, a majority of participants in the study recommend implementation or increase usage of video surveillance, and better control systems and record keeping. Other recommendations include better hiring, using a “ringer” on staff, raising salaries, offering free products for employees, and other advice. Some of these findings correspond to previous research on employee theft, while some results offer new and expanded advice for managers.

Research limitations/implications

Limitations of the study are stated, and recommendations are made for further qualitative and empirical research of employee theft in follow‐up to these findings.

Practical implications

The employees surveyed in this study recommend that greater surveillance and managerial diligence in control of the operations is needed to decrease employee theft. This advice is from the “inside” by current and former employees who have inside knowledge and first‐hand experience as witnesses to employee theft in businesses today.

Originality/value

The methodology used for the research in this study is innovative and fairly recent, because it involves the use of controlled discussion groups on the internet which allow for thorough scrutiny by the research and greater freedom by participants to compose their perceptions. In addition, study participants also may have perceived a higher level of anonymity and confidentiality using this medium, which may result in more accurate findings that traditional surveys or in‐person research methods.
Golf tourism – World Cup Cricket 2007 – Guyana prospects
Authors: Sinclair Donald G. , Boger Ernest P.
Published: October 2006

Purpose

The purpose of this paper is to advance the sport of golf as a compelling enhancement of the Caribbean region tourism product and assess prospects for the development of golf tourism in Guyana, catalysed by World Cup Cricket, 2007.

Design/methodology/approach

Documentation derived from leading researchers in the field certify contemporary golfing's international steep growth curve and global tourism implications. Additional theoretical issues include environmental consequences of Caribbean golf course development are explored. Attention is then directed toward analysis of golfing infrastructure/superstructure in Guyana.

Findings

Participation in the sport of golf is indeed experiencing a major global upswing, especially among non‐traditional devotees, largely due to the high international profiles of non‐traditional golf professionals exemplified by Tiger Woods and Vijay Singh. While some Caribbean destinations will profit considerably, the golf tourism carrying capacity of Guyana will require major upgrading to reap significant benefits.

Research limitations/implications

The implications should constitute a clear wake‐up call to Guyana and other Caribbean regional tourism establishments if golf tourism is to be taken seriously as an enrichment component of the tourism product available to participants of CWC 2007.

Practical implications

Tourism planners and developers will be able to utilize these findings as a road map to establishing or enhancing golf tourism in their respective destinations, particularly in the Caribbean region.

Originality/value

The authors believe that their particular conceptual approach to the challenge of exploiting the potential golf tourism windfall from CWC 2007 represents a valuable contribution to the literature of tourism development and a seminal research piece that will find its way into the Professional Golf Management degree curriculum resources of regional and international universities that have a legacy of post‐colonial national development.
Tourism agents' attitudes on internet adoption: an analysis from Greece
Authors: Vrana Vasiliki , Zafiropoulos Costas
Published: October 2006

Purpose

The purpose of this paper is to adopt a total view on the issue of usage and attitude of travel agents towards internet technology. Many aspects are being investigated, such as agents' attitudes towards internet applications, the current state of internet use, the relative maturity of the web sites, and internet marketing by Greek tourist agencies.

Design/methodology/approach

An online survey was conducted. Greek Travel Pages (GTP), notified travel agents via e‐mail sent about the online questionnaire web site. Travel agents willing to participate visited a tailor made web site replied to the questionnaire and the data were recorded to a database. A total of 117 questionnaires were answered. The questionnaire used included five sections and questions were adopted from previous researches.

Findings

Facilitation of global marketing and completion of online services are the most important reasons for using internet practices according to tourism agents. Travel agencies generally do not use internet practices effectively as a relatively small number of transactions are completed on line. The web pages are merely used as another means to exhibit their static information. Security difficulties and the need for social interaction are the main barriers to marketing over the internet

Research limitations/implications

This is an exploratory study addressed to agents on‐line. Further research and studies are needed by a broader range of travel agencies

Practical implications

Provides suggestions for good practices to tourism agents along with an understanding of their attitudes on internet use

Originality/value

Enables travel agents to recognize the pros and cons of using internet and to make technology an essential part of the company.
Path analysis of perceived service quality, satisfaction and loyalty in Greek insurance
Authors: Tsoukatos Evangelos , Rand Graham K.
Published: October 2006

Purpose

The purpose of this article is to investigate the path service quality → customer satisfaction → loyalty, at the level of constructs, drawing from the Greek insurance industry.

Design/methodology/approach

A SERVQUAL type service‐quality instrument is developed for Greek insurance. Confirmatory and exploratory factor analyses are used to determine the scale's dimensionality. Path analysis is utilized to examine a model linking service quality, customer satisfaction and loyalty at the level of constructs' individual determinants.

Findings

SERVQUAL's dimensionality is not confirmed. A non‐tangibles, tangibles structure exists in Greek insurance. “Tangibles” does not affect customer satisfaction while WOM is an antecedent of repurchasing intentions. Satisfaction does not directly influence the latter.

Research limitations/implications

This study suffers the limitation that it tests the fit of the model within the limits of a single service industry. Another limitation is availability sampling. However, the satisfactory fit of the estimated model allows for the study to be a reliable comparison basis for future research.

Practical implications

Insurance managers may use GIQUAL for measuring the quality of insurance services offered. They must improve the intangible rather than the tangible elements of service and direct their support mechanisms towards developing customers willing to engage in positive WOM. The proposed model can be used to provide comparable findings across sectors, countries and time provided that, in each case, an appropriately customized SERVQUAL type scale is used.

Originality/value

This study explores the service quality, satisfaction, and loyalty path at the level of specific dimensions drawing from Greek insurance.
The abnormal performance of UK utility privatisations
Authors: Stevenson Simon
Published: October 2006

Purpose

This paper aims to re‐examine both the short‐ and long‐term performance of UK privatisations, with specific reference to the comparative performance of utility privatisations with non‐utility privatisations and private sector initial public offerings (IPOs).

Design/methodology/approach

The paper uses conventional event study methodology to examine the short‐ and long‐run comparative performance of IPOs. The long‐run analysis also adopts a buy‐and‐hold methodological approach.

Findings

The results reveal that short‐term under‐pricing is significantly higher in privatisations than in private sector firms, and specifically with the utility firms, and thus supports the hypothesis that governments tend to underprice privatisation issues more due to concerns over reassuring investors regarding potential future intervention. The long‐term results show that privatisations not only consistently out‐perform the benchmark index, but they also tend to out‐perform private sector firms. However, as with the short‐term analysis the results for the non‐utility firms are far less conclusive.

Research limitations/implications

The paper illustrates that IPO performance of privatisations not only can differ from private sector issues, but the type of firm and the aims and objectives of the issuing government are a major factor in both the short‐ and long‐run performance of the firm.

Practical implications

The results highlight the practical issues involved in the relative pricing of privatisations dependent on the type of firm involved.

Originality/value

The explicit separation of privatisation issues by industry type and the comparison with a private sector sample split by both industry sector and by market size.
Recent stock price relationships between Japanese and US stock markets
Authors: Kurihara Yutaka , Nezu Eiji
Published: October 2006

Purpose

This paper, using daily data, sets out to present an empirical analysis of the relationship between recent Japanese stock prices and macroeconomic variables under the quantitative easing policy in Japan.

Design/methodology/approach

The theoretical framework of the analysis is provided followed by application of the empirical method and analysis of the deterministic elements of stock prices in Japan. Vector error correction method is applied.

Findings

The results indicate that interest rates, especially the domestic interest rate, have not impacted Japanese stock prices. Exchange rates also have not been a significant determinant of Japanese stock prices. US stock prices have significantly influenced Japanese stock prices. Moreover, there exists a long‐term stable relationship between Japanese and US stock market prices.

Originality/value

The Bank of Japan's monetary policy, especially quantitative monetary easing, has not yet been fully determined. The effect of the policy on stock prices has not been discussed at all. Analyzing this effect is important because of its impact on the Japanese economic recovery, which has prevailed for more than ten years. Moreover, little research exists on the effect of the exchange rate on stock prices. This paper uses daily data. Some past studies on this topic have used quarterly or monthly data.
Market orientation, learning orientation, and innovation capabilities in SMEs
Authors: Keskin Halit
Published: October 2006

Purpose

The purpose of this paper is to examine the nomological relations among market‐orientation, learning‐orientation and innovativeness in medium‐sized business (SMEs) of developing countries.

Design/methodology/approach

The study involves a questionnaire‐based survey of managers from small‐sized‐firms operating in Turkey. A total of 157 usable questionnaires were received from managers. These were subjected to a structural equation modeling (SEM) analysis.

Findings

The results show that firm innovativeness positively affects firm performance; firm learning‐orientation positively influences firm innovativeness; firm market‐orientation positively impacts firm learning orientation; firm learning‐orientation mediates the relationship between firm market‐orientation and firm innovativeness; and firm market‐orientation indirectly impacts firm performance via firm innovativeness and learning.

Practical implications

This study has implications for SEMs aiming at increasing their performance and innovativeness.

Originality/value

The interrelationships among a firm's market‐orientation, learning‐orientation, and innovativeness are an important research area for investigators in the literature of management, strategy, and marketing. However, most of the empirical studies were conducted in large‐scale firms in developed countries and ignored small and medium‐sized business (SMEs) in general, and in developing countries in particular. The results offer both theoretical and managerial implications.
Broadband pricing strategies
Authors: Biggs Phillippa , Kelly Tim
Published: October 2006

Purpose

This article seeks to consider why broadband technologies have been so successful in reaching such a large number of new users so quickly, and what characteristics of its pricing have made this possible.

Design/methodology/approach

Examines the different pricing strategies available, and their impact on broadband markets and prices, as well as some of the issues involved in measuring broadband prices.

Findings

Pricing strategies have major implications for the future development of telecommunication markets, as they are dismantling the constructs on which telecommunication services have historically been priced (namely, distance, time and location). Broadband pricing strategies, especially the growing trend towards flat‐rate pricing, promise to transform the revenue streams and expansion of communication services in future.

Originality/value

The findings, based on analysis of a unique price database across 145 countries, will be of value to operators and regulators.
The role of stream ecosystems in urban planning
Authors: Yli‐Pelkonen Vesa , Pispa Karoliina , Helle Inari
Published: October 2006

Purpose

Urban stream ecosystems have often been seen as channels of water flow rather than as the valuable parts of an urban green space system providing ecosystem services. The study seeks to address the importance of urban stream ecosystems from the perspective of urban ecology, human health and social well‐being in the context of urban planning.

Design/methodology/approach

The case study area is the Rekolanoja stream ecosystem in the City of Vantaa, southern Finland. The data from the case study area were gathered from existing ecological studies and by conducting semi‐structured interviews, a resident inquiry and a writing contest.

Findings

The results from the Rekolanoja case show that intense management of the streamside vegetation and treatment of the stream channel in construction projects have decreased species richness and diminished valuable streamside biotopes. However, the stream corridor can function as an important recreational and educational element within the local green space network and thereby become a symbol of local identity.

Practical implications

Planners, decision‐makers and other interest groups can use the findings from this study in determining the values of small urban stream ecosystems in urban development.

Originality/value

The Rekolanoja case indicates that planners and residents see the value of such an aquatic element as increasingly important for urban biodiversity and ecological corridor functions, as well as for local human health and social well‐being, e.g. recreation and stress relief. Future land‐use decisions will show whether a genuine change in the values and thinking of planners and decision‐makers is taking place.
The impact and significance of ISO 14001 certification on the adoption of new technologies
Authors: Radonjič Gregor , Tominc Polona
Published: October 2006

Purpose

The purpose of this paper is to assess whether environmental management systems (EMS) according to ISO 14001 requirements have contributed to the implementation and adoption of new technologies and to the issues related to technology performance in industrial enterprises.

Design/methodology/approach

The research is based on the questionnaire survey conducted on a sample of ISO 14001 certified Slovene manufacturing companies.

Findings

The results revealed that ISO 14001 certified manufacturing companies still mostly used the combination of partly adopted and partly modified technologies in order to reduce environmental impacts. ISO 14001 was considered as a very useful tool for the promotion of technological modernisation. It was shown also that ISO 14001 standard can play a significant role as a support tool for the acceleration of technological innovation activities regardless of the origin of the technology.

Research limitations/implications

The research surveyed only industrial ISO 14001 certified enterprises in the Republic of Slovenia. Differences among industrial branches exist as well as among small, medium and large enterprises. These facts must be further studied.

Practical implications

ISO 14001 certification proved to be an important driver for technological modernisation in industrial practice. Some environmental indicators are still underestimated or nonsufficiently included into firms' environmental policies and must be certainly improved. Since adoption of new technologies and EMS were rarely covered together the findings are interesting for wider community.

Originality/value

The paper covers a subject on how adoption of ISO 14001 influences technological changes and related activities. Not many information and in‐depth case studies have been available until now.
Examining waste management in San Pablo del Lago, Ecuador: a behavioral framework
Authors: Aung May , Arias Martha L.
Published: October 2006

Purpose

The purpose of the paper is to propose and examine with evidence from Ecuador a behavioral framework that helps understand environmental practices in a small rural community.

Design/methodology/approach

This research is a multidisciplinary study that integrates ethnographic, feminist, and fourth generation approaches. Qualitative and quantitative methods were applied.

Findings

Findings indicate a number of relevant determinant factors (social norms, personal norms, intention to act), moderating factors (knowledge of the issues, awareness of the consequences, knowledge of the strategies and action skills, assumption of the responsibilities), and socio‐demographic factors (gender and social class) that influence solid waste (garbage) management behavior in a small rural community in the Ecuadorian Andes.

Practical implications

This study recommends general public training for the stakeholders of this community taking into account gender and social class differences. The importance of generating role models in groups such as business owners and teachers to lead in waste management behavior is also suggested.

Originality/value

This study develops a behavioral framework with supporting empirical evidence from Ecuador that aids the understanding of environmental management practices of women and men from a small cohesive community
SEC releases new interpretive guidance on soft dollar arrangements
Authors: Kaswell Stuart J. , Rosenblat Alan , Sherman Michael L.
Published: October 2006

Purpose

To describe and analyze in detail an Interpretive Release (the “2006 Interpretation”) approved on July 12, 2006 by the US Securities and Exchange Commission (“SEC”) regarding the soft dollar safe harbor under Section 28(e) of the Securities Exchange Act of 1934.

Design/methodology/approach

Following a brief discussion of the history of soft dollars, describes and analyzes in greater detail relevant aspects of the 2006 Interpretation, including an explanation of the three‐part test concerning the use of soft dollars to pay for products and services under the safe harbor, a discussion of “mixed use” items, further detail on soft dollar arrangements, an explanation of liabilities and obligations of managers and broker dealers, and an implementation timeline.

Findings

Under the 2006 Interpretation, a money manager may rely on the safe harbor to acquire products or services only upon satisfaction of each part of a three‐part test. First, does the product or service meet the eligibility criteria of Section 28(e)(3)? Second, does the eligible product or service provide lawful and appropriate assistance in the performance of relevant responsibilities? Finally, may the money manager properly conclude, in good faith, that the commissions paid are reasonable in relation to the value of the research and brokerage products and services provided by the broker (in relation either to the particular transaction or to the money manager's overall responsibilities with respect to discretionary accounts)? The 2006 Interpretation also is relevant to broker‐dealers who may receive soft dollars. Under Section 28(e), a money manager can pay soft dollars only to broker‐dealers who “provide” research or brokerage services and “effect” transactions. Under the 2006 Interpretation, the circumstances under which broker‐dealers will be seen as “providing” services and “effecting” transactions will be interpreted more broadly than under past interpretations, allowing brokers and money managers greater flexibility to structure soft dollar and commission‐sharing arrangements in a manner that will better serve the interests of investors.

Originality/value

Provides a detailed analysis of the 2006 Interpretation concerning soft dollars.
New pension legislation will significantly change US pension and IRA investments
Authors: Gilbert Richard A. , Lloyd Levin Ian , Downie Sarah
Published: October 2006

Purpose

To describe how the Pension Protection Act of 2006 (the “Pension Act”) will affect the investment of plan assets subject to the Employee Retirement Income Security Act of 1974 (ERISA).

Design/methodology/approach

Describes the redefinition of “plan assets” under the Pension Act and explains new statutory prohibited transaction exemptions in areas that include transactions between plans and service providers, cross‐trading, foreign exchange transactions, block trades, the use of electronic communications networks (ECNs), correction to reverse prohibited transactions, bonding, and investment advice.

Findings

The status of existing investors as benefit plan investors under the Pension Act should be reviewed to determine whether formerly precluded investors may now be permitted. ERISA‐related purchase, sale, and transfer restrictions currently in use will need to be reviewed and likely significantly revised to reflect the decreased breadth of “party in interest” prohibitions. Investment advisers will need to review whether they want to begin providing investment advisory services to plan participants and, if so, begin developing procedural safeguards to comply with the requirements of the Pension Act.

Originality/value

A useful summary of forthcoming pension legislation as it affects US pension and IRA investments, particularly in its redefinition of the circumstances under which an entity's assets are treated as “plan assets” for ERISA purposes and its new statutory exemptions from the prohibited transaction requirements of ERISA.
Why outsource the compliance function?
Authors: Duck Tim
Published: October 2006

Purpose

To highlight some of the issues that small firms must address when deciding to avail themselves of the services of independent compliance consultants.

Design/methodology/approach

Explains why investment firms use independent compliance consultants, discusses practices the FSA has published to ensure a firm meets with its regulatory requirements when using an external consultant, reviews the risks a firm faces when delegating part of its compliance function to a consultant, and suggests factors a firm should consider when selecting and employing a consultant.

Findings

Among the risks a firm must manage when using an independent compliance consultant are that the consultant will turn a blind eye to improper practices, fail to raise issues with aspects of the firm's business the consultant does not understand, become lazy as a result of familiarity with the firm, or not be subject to the same regulatory regime as the firm is. A firm should analyze how proposed outsourced arrangements fit with its reporting structure, strategy, and overall risk profile. As part of a formal process of consideration, the firm should conduct due diligence on the outsourcing consultancy to ensure that appropriate expertise, financial stability, and adequate resources are available.

Originality/value

Provides an investment firm considering the use of an independent compliance consultant a useful list of considerations from an experienced compliance consulting firm.
Personal trading policies for hedge fund managers
Authors: Harman Thomas S. , Parry Monica L.
Published: October 2006

Purpose

To provide a detailed description of personal trading policies that apply to hedge fund managers.

Design/methodology/approach

Summarizes Sections 206(1) and (2) of the Investment Advisers Act of 1940 (“Advisers Act”), particularly with regard t disclosure of conflicts relating to personal trading and and prevention of misappropriation of investment opportunities; summarizes Section 204A of the Advisers Act, including procedures designed to prevent the misuse of public information; and summarizes Rule 204A‐1 under the Advisers Act, which requires a registered investment adviser to adopt a code of ethics applicable to its supervised persons.

Findings

Advisers must adopt insider trading policies, ensure clear and accurate disclosures about personal trading in their Forms ADV and private placement memoranda, and adopt and enforce codes of ethics. It is also beneficial for an adviser to require its employees to trade only through an affiliated broker‐dealer.

Originality/value

Provides a detailed discussion of personal trading policies that apply to hedge fund managers.
Linking autonomous agents to CPFR to improve SCM
Authors: Caridi M. , Cigolini R. , De Marco D.
Published: October 2006

Purpose

The standpoint of this research lies in the study of the CPFR process for trading partners (belonging to the same supply chain) who are willing to collaborate in exchanging sales and order forecast. This points out the need for providing a collaboration process with an intelligent tool to optimise negotiation.

Design/methodology/approach

A literature review and classification has been carried out concerning autonomous agents used to manage supply chain processes. To evaluate the strengths coming from an intelligent system embedded within the CPFR process, several experiments in different conditions were conducted using simulation tool.

Findings

The analysis of experimental results points out that the agent‐driven negotiation process (by comparison to CPFR without intelligent agents) benefits in terms of costs, inventory level, stock‐out level and sales.

Research limitations/implications

The study represents a one‐to‐one scenario, in which only two trading partners collaborate. Further, research has been identified to extend the work.

Practical implications

The study represents a first step towards the analysis of a multi‐agent system being used to automate and optimise collaboration along a supply chain.

Originality/value

The study represents a novel approach to resolving exceptions concerning sales and forecast data.
The firm's strategic dynamics and corporate governance life‐cycle
Authors: Filatotchev Igor , Toms Steve , Wright Mike
Published: October 2006

Purpose

The paper seeks to present a novel conceptual framework that integrates the strategic dynamics of the firm with changes in its governance systems.

Design/methodology/approach

The agency research agenda is extended to include other corporate governance roles, such as resource and strategy functions, alongside monitoring and control functions. Theoretical arguments are supported by empirical data related to the founder‐manager/IPO, IPO/maturity, maturity/decline and reinvention thresholds.

Findings

The paper shows that corporate governance parameters may be linked to strategic thresholds in the firm's life‐cycle. Successful transition over a threshold is accompanied by a rebalancing in the structure and roles of corporate governance compared with each previous stage in the cycle.

Research limitations/implications

In the absence of longitudinal data relating to firms as they pass through all life‐cycle stages the study has been restricted to reporting illustrative data from different studies regarding each strategic threshold. Further research might usefully undertake detailed long‐term case studies using a combination of archival and interview data to trace the evolution of firms across the four thresholds.

Originality/value

This paper develops a novel conceptual framework that integrates the strategic dynamics of the firm with changes in its governance systems. It rejects the notion of a universal governance template and argues that corporate governance parameters may be linked to transitions from one stage to another in the firm's life‐cycle. Accordingly, it argues that changes in a firm's strategic positioning may be associated with rebalancing between the wealth‐protection and wealth‐creation functions of governance.
Managerial overconfidence and corporate takeovers
Authors: Pan Hongbo , Xia Xinping , Yu Minggui
Published: October 2006

Purpose

The purpose of this paper is to model the announcement returns of merging firms based on managerial overconfidence about merger synergy.

Design/methodology/approach

The paper applies continuous‐time real options techniques and game theoretic concepts. Managerial overconfidence and strategic interaction between the bidder and the target are incorporated into the model.

Findings

This model implies that: abnormal returns to bidding shareholders will be negative with a high degree of managerial overconfidence; combined returns to shareholders are usually positive; and both the bidder's and the target's abnormal returns are related to industry characteristics, the degree of managerial overconfidence, and the way merger synergies are divided.

Originality/value

This paper, for the first time, reconciles theoretically the following stylized facts: combined returns to shareholders are usually positive; and returns to the acquirer are, on average, not positive. In addition, the model generates new predictions relating these returns to industry characteristics and the degree of managerial overconfidence.