bluuebunny/crossref_metadata_2025 huggingface dataset:
What Companies do not Know About Self‐assessment : Self‐assessment in Germany
Authors: Burkhard Carina
Published: February 2011

In Germany Quality Management awards and thus self‐assessment are well known and popular‐at least amongst quality management professionals. About 2000 companies have carried out self‐assessment using the EFQM Model as a framework (DGQ, 2005). This is at least approximately the number of participants in German regional and national quality awards. Since 1992, with the first call for the national Ludwig‐Erhard‐Preis, about 1953 companies have taken part in a quality award, see figure (1). The number of participants varies from state to state. This difference may be caused by the application format: There are many applicants where the application is done by the means of a questionnaire, as it is the case of Bavaria (910), Thuringia (402), Northrhein‐Westphalia (267) and Saxony‐Anhalt (60). Fewer applications were received in Berlin‐Brandenburg (65), Saxony (84), Schleswig‐ Holstein (40), and with the national quality award (125), where a demanding application brochure is needed. Figure 1. Number of participants and type of application format in quality awards of different federal states of Germany. Information on number of participants was collected from quality award offices.
Analysing the Meaning of Quality Management in Cross‐border Business Cooperations by using Benchmarking Methodology
Authors: Bäsler Maurice , Voigt Matthias , Woll Ralf
Published: February 2011

Benchmarking is more than just a comparison of measures about different company’s performance in a wider sense. It is a methodology of learning‐comparing‐learning, at least within small and medium sized enterprises. This learning is not just limited to learn by copying successful concepts from other enterprises or competitors. It starts in learning more about the own company, about its structure and processes causing its own success or its failure. This kind of learning is necessary before the enterprise starts watching for a suitable Benchmarking partner. Learning from each other’s strengths and weaknesses is the main goal of the European research project Quality beyond Borders! By using the Benchmarking methodology, small and medium sized enterprises get the opportunity to take part in a Benchmarking study and can learn more about the different strengths and weaknesses of other enterprises on both sides of the border. The results of such a Benchmarking can help to identify potentials for future cooperations among German and Polish enterprises in the same market or business. These potentials can lie in different ways of realising the same success or top‐position. The Benchmarking study is not focused on an special business or region. That helps to find out trends for different kinds of top‐positions, which can be claimed in all markets within a country. Every trend is characterised by different success factors which are responsible for the success in this top‐position. In a first overview, the results of the Benchmarking study show 5 different groups of top‐positions within a market which all have different profiles regarding to the importance of their success factors. By the end of the Benchmarking study it will be possible, to give answer about the special reasons for different kind of successes of these groups. These answers can be related to a special region within a country, a special business or of course related to possible differences in the expression of the group success factors in comparison of both countries.
Research on the Effects of Knowledge Management Capabilities and Knowledge Sharing Mechanisms on New Product Development Performance in Taiwan’s High‐tech Industries
Authors: Liu Pang‐Lo , Tsai Chih‐Hung
Published: February 2011

High‐tech industries in Taiwan exist in an environment with diverse product requirements and intense cost reduction and information integration stress. They must develop new operational directions to increase industry competitiveness. Therefore, Taiwan’s high‐tech industries must continue R&D and creativity, establish knowledge sharing mechanisms and improve new product development (NPD) performance. This research analyzed and explored the influences of knowledge management (KM) and knowledge sharing mechanisms introduced by Taiwan’s high‐tech industries on new product development performance. The relationship between knowledge management capabilities and NPD performance is studied. This research considers the intervening industry and corporate position variables. Taiwan’s high‐tech industries have gradually entered the era of IT region integration and application with competitive advantage creation based upon core techniques. The in‐depth study of knowledge management and knowledge sharing introduced by the high‐tech industry revealed double meanings in academic and practical applications. The research results showed the following: (1) the stronger the knowledge management capabilities of Taiwan’s high‐tech industries, the more significant the NPD performance. (2) The better the knowledge sharing mechanism in Taiwan’s high‐tech industries, the more significant the NPD performance. (3) Corporate scale is not necessarily the critical factor in NPD success and the influence of corporate scale on NPD performance did not show significant differences. (4) The stronger the degree of leading corporate techniques, the more significant the NPD performance.
National Process of Quality Management Education : the Swedish Example
Authors: Isaksson Raine , Hansson Jonas , Garvare Rickard
Published: February 2011

The application of a process view, as complement to the traditional functional division, is often a way to highlight organisational improvement potential. This paper examines the process of providing university level education in quality management, using Sweden as an example. The purpose is to assess the performance of university education as part of the supply chain of providing quality management to a society. This has been done by studying the actual offering compared to a notional benchmark of best performance. Preliminary results indicate that there could be a significant improvement potential in both providing more education of the right type and in the right way. A lot of similar basic courses are given but with varying names, possibly reflecting difficulties in defining the area of quality management and its constituents. An important reason for the detected improvement potential seems to be the lack of ownership of the studied supply chain of providing university level quality education to the Swedish society.
Degree of Overlapping Design Activities in Vehicle Development : A System Dynamics Approach
Authors: Lee Sangdon , Sung Lim Ik
Published: February 2011

The vehicle development process (VDP) is iterative in nature with numerous interactions and information flows between design groups and between development phases. The VDP has been changed from a sequential‐functional development to a concurrent‐team based approach. Concurrent execution of design activities may reduce the development lead‐time, but it increases the managerial complexity in the VDP. A system dynamics model was developed to understand the transient behavior of parallel, overlap, and sequential processes in the VDP and to determine the optimal level of overlapping considering the development lead‐time and total number of reworks. The simulation results showed that different execution processes should be used, depending upon the intensity of reworks.
Research on the WIP‐based Dispatching Rules for Photolithography Area in Wafer Fabrication Industries
Authors: Lin Yu‐Hsin , Tsai Chih‐Hung , Lee Ching‐En , Chiu Chung‐Ching
Published: February 2011

Constructing an effective production control policy is the most important issue in wafer fabrication factories. Most of researches focus on the input regulations of wafer fabrication. Although many of these policies have been proven to be effective for wafer fabrication manufacturing, in practical, there is a need to help operators decide which lots should be pulled in the right time and to develop a systematic way to alleviate the long queues at the bottleneck workstation. The purpose of this study is to construct a photolithography workstation dispatching rule (PADR). This dispatching rule considers several characteristics of wafer fabrication and influential factors. Then utilize the weights and threshold values to design a hierarchical priority rule. A simulation model is also constructed to demonstrate the effect of the PADR dispatching rule. The PADR performs better in throughput, yield rate, and mean cycle time than FIFO (First‐In‐First‐Out) and SPT (Shortest Process Time).
Taxation and the value of employee stock options
Authors: Abudy Menachem , Benninga Simon
Published: February 2011

Purpose

This paper aims to derive firm value implications for various kinds of employee stock options (ESOs) in a framework that considers uncertainty, non‐diversification and the US statutory tax treatment.

Design/methodology/approach

The authors extend the analysis of ESOs from the case of perfect capital markets to two cases of imperfect capital markets using the Benninga‐Helmantel‐Sarig framework.

Findings

It is found that ESOs are inferior to cash compensation and that the degree of option inferiority depends on employee diversification. In addition, incentive stock options (ISOs) are generally inferior to non‐qualified stock options (NSOs). This relative profitability of the NSO versus ISO increases as market imperfections are added. The authors also find that in general firm hedging of ESOs is suboptimal.

Originality/value

The paper highlights the firm value of employee stock options.
Founder family influence and foreign exchange risk management
Authors: Aabo Tom , Kuhn Jochen , Zanotti Giovanna
Published: February 2011

Purpose

The purpose of this study is to explore the influence of founder families in medium‐sized manufacturing firms and to investigate the impact of such influence on risk management – more specifically foreign exchange hedging and speculation.

Design/methodology/approach

This empirical study uses survey data and publicly available data for descriptive analysis and ordinary least squares/ordered regression analysis.

Findings

The authors find that two thirds of medium‐sized manufacturing firms are founder family firms in which the founder of the firm or members of his/her family are active in the management team, are members of the board of directors, and/or are shareholders of the firm. The study finds no difference between such founder family firms and other firms in terms of the use/non‐use decision related to foreign exchange derivatives but a marked difference in terms of the extent decision. Thus, founder family firms tend not only to hedge but also to speculate more extensively than other firms.

Research limitations/implications

The findings are based on medium‐sized manufacturing firms in Denmark.

Originality/value

This study provides empirical evidence on the influence of founder families in medium‐sized firms and adds to the sparse literature on the impact of founder family influence on risk management.
Copula based models for serial dependence
Authors: Vaz de Melo Mendes Beatriz , Aíube Cecília
Published: February 2011

Purpose

This paper aims to statistically model the serial dependence in the first and second moments of a univariate time series using copulas, bridging the gap between theory and applications, which are the focus of risk managers.

Design/methodology/approach

The appealing feature of the method is that it captures not just the linear form of dependence (a job usually accomplished by ARIMA linear models), but also the non‐linear ones, including tail dependence, the dependence occurring only among extreme values. In addition it investigates the changes in the mean modeling after whitening the data through the application of GARCH type filters. A total 62 US stocks are selected to illustrate the methodologies.

Findings

The copula based results corroborate empirical evidences on the existence of linear and non‐linear dependence at the mean and at the volatility levels, and contributes to practice by providing yet a simple but powerful method for capturing the dynamics in a time series. Applications may follow and include VaR calculation, simulations based derivatives pricing, and asset allocation decisions. The authors recall that the literature is still inconclusive as to the most appropriate value‐at‐risk computing approach, which seems to be a data dependent decision.

Originality/value

This paper uses a conditional copula approach for modeling the time dependence in the mean and variance of a univariate time series.
Intraday volatility forecasting from implied volatility
Authors: Joon Byun Suk , Woo Rhee Dong , Kim Sol
Published: February 2011

Purpose

The purpose of this paper is to examine whether the superiority of the implied volatility from a stochastic volatility model over the implied volatility from the Black and Scholes model on the forecasting performance of future realized volatility still holds when intraday data are analyzed.

Design/methodology/approach

Two implied volatilities and a realized volatility on KOSPI200 index options are estimated every hour. The grander causality tests between an implied volatility and a realized volatility is carried out for checking the forecasting performance. A dummy variable is added to the grander causality test to examine the change of the forecasting performance when a specific environment is chosen. A trading simulation is conducted to check the economic value of the forecasting performance.

Findings

Contrary to the previous studies, the implied volatility from a stochastic volatility model is not superior to that from the Black and Scholes model for the intraday volatility forecasting even if both implied volatilities are informative on one hour ahead future volatility. The forecasting performances of both implied volatilities are improved under high volatile market or low return market.

Practical implications

The trading strategy using the forecasting power of an implied volatility earns positively, in particular, more positively under high volatile market or low return market. However, it looks risky to follow the trading strategy because the performance is too volatile. Between two implied volatilities, it is hardly to say that one implied volatility beats another in terms of the economic value.

Originality/value

This is the first study which shows the forecasting performances of implied volatilities on the intraday future volatility.
Chronic limitations of neo‐liberal capitalism and oligopolistic markets
Authors: Reeves Knyght Philip , Kakabadse Nada K. , Kouzmin Alexander , Kakabadse Andrew
Published: February 2011

Purpose

The purpose of this paper is to highlight the serious limitations of neo‐liberal capitalism and urge for a shift to socialized capital before further economic deterioration leads to a succession of global conflicts.

Design/methodology/approach

This conceptual paper adopts a macro perspective in presenting argument on how global, financial markets integration and capital flow liberalization have led to inadequate market and corporate governance measures. The argument is couched in a selected literature and is preceded by a proposed solution – the requirement for socialized capital. An analysis of the nature of socialized capital is outlined and the questions that require attention identified if a paradigm shift from neo‐liberal capitalism is to take place.

Findings

The need to urgently shift to a new philosophy of capitalism is overwhelming. Emphasized is that capital needs to adopt a socialised identity and is supported by investment horizons of 30 years or more. It is argued that non‐market (e.g. state, NGOs, civil society) intervention is critical in setting appropriate frameworks within which socialized capital can operate.

Research limitations/implications

This is a theoretical paper, in which questions are raised which require transparent, public debate.

Originality/value

The paper presents the case for a fundamental reconsideration of present day markets, the role of capital and the influence of elites in determining the public good.
Economic nationalism and FDI
Authors: Jakobsen Jo , Jakobsen Tor G.
Published: February 2011

Purpose

The purpose of this paper is to focus on the relationship between economic nationalism and foreign direct investment (FDI) in emerging markets, seeking to establish whether public opinion and prevailing preferences regarding FDI affect the location decisions of multinational companies.

Design/methodology/approach

Drawing on public opinion data from 42 non‐Organization of Economic Cooperation and Development countries 1990‐2005, the paper performs a time series cross‐section analysis of the relationship between economic nationalism and FDI. The first main variable measures the extent to which the public holds a positive view of major (domestic) companies. It is hypothesized that in societies where nationalist sentiments dominate, the public prefers indigenous to foreign firms. This induces host authorities to institute more stringent foreign investment rules, which deters FDI. Second, the paper also examines how the public's distribution along the left‐right axis affects FDI patterns. A left‐leaning society should prefer FDI given that foreign capital ultimately benefits labor. Contrarily, a right‐leaning public ought to prefer economic nationalist policies that protect domestic businesses against competition from FDI.

Findings

Results support the paper's claims. Controlled for common FDI determinants, both main variables of interest are significantly and consistently related to FDI in the expected directions. Economic nationalism and “rightist” economic preferences in society deter multinationals.

Originality/value

The relationship between economic nationalism, public opinion, and FDI is still an under‐explored theme, which is especially troubling given the possible developmental effects of capital imports. The paper moves beyond available anecdotal examples and brings forth systematic empirical evidence to show that the preferences of society really do affect the locational patterns of FDI.
Are competition and corporate social responsibility compatible?
Authors: Quairel‐Lanoizelée Françoise
Published: February 2011

Purpose

While fierce global competition has negative environmental and social impacts and may lead large companies to act irresponsibly, corporate social responsibility (CSR) academic literature, especially stakeholder theory, pays little attention to competition and market pressure. It only highlights the competitive advantage a CSR strategy represents for companies. The purpose of this paper is to explore the connection between CSR and competition in order to contribute to the CSR concept through analysis of the conditions for its implementation.

Design/methodology/approach

The paper draws upon the academic literature in economics and strategic management, on mainstream CSR papers and on the official disclosure and communication from companies listed on the “CAC 40” of the French stock market. The paper uses the definition of corporate responsibility which integrates companies' environmental and social concerns into all their activities.

Findings

The following three major findings arise. First, on a theoretical level and in terms of corporate disclosure on CSR, a large gap is noticed in how the economic view and the CSR view of competition are represented. Second, it is observed that the limits of the competitive advantage obtained by CSR strategy while the “demand for virtue” is weak even if the stakeholders' “expectations” for responsible practices are strong. In fact, a typology of CSR strategies is proposed related to competitive situations. Third, the paradox of the CSR competitive advantage is underlined: specifically, it is gained only if not imitable, i.e. if companies prevent the mimetic practices which could spread best practices for sustainable development.

Originality/value

The paper highlights the limits of the CSR concept within the liberal paradigm, arguing that the mainstream theoretical CSR framework based on the hypothesis of the convergence between firms' objectives and the common interest is not relevant. The framework of the neo‐institutional theory is more appropriate to analyse the mimetic behaviour in competitive markets and corporate commitments in sector‐based codes of conduct that define new norms of social quality.
The impact of gender, family, and work on the career advancement of Lebanese women managers
Authors: Tlaiss Hayfaa , Kauser Saleema
Published: February 2011

Purpose

The purpose of this paper is to address the research gap on Lebanese women managers and to demonstrate how gender, work, and family factors influence the career advancement of women managers.

Design/methodology/approach

The research is qualitative in nature. A total of 32 in‐depth face‐to face interviews were conducted with 32 women managers.

Findings

Interview data reveal that Lebanese women managers do not perceive gender‐centered factors as obstacles to career advancement. The women in the study used different terms to describe the impact of gender, work, and family factors on their career progression to those found in existing literature. Their responsibilities towards their families were not perceived as barriers hindering their career progress. In addition, their personality traits, aspirations for management, levels of educational attainment and work experience, and family‐related factors were also not perceived as inhibiting their careers.

Practical implications

The paper provides new practical insights into the relationships and the interconnections between Arab society, women, and their managerial careers. A strong theme is the significant role ofWasta, the reliance and dependence on social connections versus personal education and achievements to achieve career progress, in enhancing career progression and how gender is less of a criterion in the presence ofWasta.

Originality/value

This paper contributes to the limited knowledge about women and management in Lebanon, as well as the Middle Eastern region in general.
The impact of gender‐differentiated golf course features on women's networking
Authors: Arthur Michelle M. , Del Campo Robert G. , van Buren Harry J.
Published: February 2011

Purpose

The purpose of this paper is to consider whether golf functions as a networking barrier for women in professions that require networking for career success.

Design/methodology/approach

Data from 496 golf courses, in addition to demographic data and data about salaries in sales, managerial, and marketing and sales professions in the USA, were used to assess if differences in tee box placement between men's and women's tees would predict participation and salaries in networking‐oriented professions.

Findings

The analyses indicate that differences in tee box placement between men's and women's tees did predict differences in participation and salaries in networking‐oriented professions. It was found that the greater the distance between men's and women's tees, the lower the salaries and participation rate for women. This effect was greatest for the marketing and sales profession.

Research limitations/implications

Golf is one networking barrier among many, and so other networking barriers that have deleterious effects on women's advancement and success should be explored. Further research might include observational studies of mixed‐gender golf groups, and might also explore whether women choose not to pursue networking occupations or women are not selected for jobs that require networking on the golf course.

Social implications

Companies should be aware of how venues selected for networking might have disparate impacts for men and women, and select venues that are as gender‐neutral as possible.

Originality/value

This paper is, to the authors' knowledge, the first empirical investigation of gender relations in non‐traditional work settings with female participation and earnings in occupations that require networking for career success.
Married professional women's career exit: integrating identity and social networks
Authors: Hamilton Volpe Elizabeth , Marcinkus Murphy Wendy
Published: February 2011

Purpose

The purpose of this paper is to address the idea of “opting out” for married professional women by presenting a conceptual investigation into the impact that a woman's identity and social networks have in shaping her decisions surrounding career exit. A model is developed and intended to help researchers in this area move beyond existing frameworks when attempting to explain and predict women's career exit.

Design/methodology/approach

Research from the identity, social networks, turnover, and careers literatures was analyzed and integrated to put forth a new theoretical lens, represented by the conceptual model developed in this paper, that helps to explain married professional women's career exit.

Findings

Development of the model reveals a complex, reciprocal relationship between a woman's identity and her social network and depicts how these factors act in concert to shape women's decisions regarding career exit or “opting out.” This model also highlights the importance of structural constraints shaping a woman's social network, moderators impacting the relationship between a woman's identity and career exit behaviors, and outcomes of career exit.

Originality/value

Although identity is a fundamental element of career development and relationships with others serve as an origin of self and source of self‐understanding, the integration of these perspectives has been conspicuously absent from research on women's career exit. Examining the convergence of identity and social networks and the reciprocal relationship these constructs have on career phenomena advances our knowledge of why married professional women choose to “opt out” or exit their careers.
The judicial system of Bangladesh: an overview from historical viewpoint
Authors: Panday Pranab Kumar , Hossain Mollah Awal
Published: February 2011

Purpose

The main aim of this paper is to analyze judicial system of Bangladesh, which comprises all courts and tribunals that performs the delicate task of ensuring rule of law in the society. The paper depicts the history and evolution of the judicial system in Bangladesh from ancient period to present day.

Design/methodology/approach

The study is qualitative in nature and based on secondary sources of materials like books, journal articles, government orders, rules, acts, newspaper reports, etc. Relevant literature has also been collected through internet browsing.

Findings

The major findings of this paper are: there is a well‐organized court system in Bangladesh which is in fact the replica of the system introduced by British rulers and it is widely accepted in the original Constitution of Bangladesh. The ancient judicial system was not based on rule of law rather on caprice and caste consideration. The executive branch of government always attempts to control the judiciary through different mechanisms, which include the appointment, tenure and discipline of judges from ancient period. Therefore, the independence of judiciary is vulnerable from ancient time to present day and even after separation of the judiciary from the executive (November 2007) the interference of the executive over the judiciary is still continuing.

Practical implications

This paper opens a new window for the policy makers and concerned authorities to take necessary steps for overcoming the existing limitations of judiciary.

Originality/value

The paper will be of interest to legal practitioners, policy makers, members of civil society, and those in the field of judicial system in Bangladesh and some other British colonial common law countries.
Value creation logics and resource management: a review
Authors: Othman Rozhan , Sheehan Norman T.
Published: February 2011

Purpose

The purpose of this paper is to locate different value creation logic contingencies within the resource management framework. While Sirmon et al. discuss how external environmental contingencies, such as environmental munificence, impact resource management, this paper aims to discuss a second key contingency; that is how the firm's choice of value creation logics impacts its resource management choices. This paper seeks to argue that management of the firm's resources and capabilities is contingent on the value creation logic employed by the firm.

Design/methodology/approach

This paper reviews three value creation logics: value shop, value network, and value chain and then integrates them within the resource management framework.

Findings

A review of extant literature indicates that value shop firms, value network firms, and value chain firms enact very different environments and thus require very different resources and capabilities to support their value creation approaches. It is argued that Sirmon et al.'s resource management framework should reflect these differences.

Research limitations/implications

This paper points to new directions for research in value creation logic theory and provides a basis for future empirical work.

Practical implications

This paper argues that a mismatch between a firm's value creation logic and its resource management practices will have an adverse impact on the firm's performance.

Originality/value

This study is one of the first to integrate Stabell and Fjeldstad's value creation logic theory with Sirmon et al.'s resource management framework.
Three Fs for the mission statement: what's next?
Authors: Salem Khalifa Azaddin
Published: February 2011

Purpose

This paper aims to expose the underlying reasons behind the failure of the mission statement to have a significant impact on performance and to recommend ways forward.

Design/methodology/approach

A comprehensive literature review is conducted and common themes and trends are revealed. These are then discussed under four major domains of the mission statement: definitions, functions, focus, and form. The impact of the mission statement on performance is then discussed. Examples of mission statements of some prominent organizations are provided to substantiate arguments. The paper ends with conclusions and recommendations.

Findings

The paper reveals the contradictions and confusion that beset research in this area. It demonstrates how concepts such as mission, vision, values, identity are mixed up with one another, leading to a slow progress in research and underutilization of the power of mission in practice.

Research limitations/implications

The paper recommends theoretical focus and practical flexibility. Theoretically, it suggests conceptual distinction between mission, vision, values, and other related concepts. Once this is done, it suggests the use of a “guiding statement” to flexibly describe any statement that integrates more than one of the above mentioned concepts in practice. The paper offers no empirical evidence of the usefulness of its recommendations.

Practical implications

The paper reveals the sources of ineffectiveness of the mission statement. The recommendations may help to minimize the confusion surrounding the functions, focus, and form of the mission statement. This may also help to advance the research in this area and inform the practice in the field.

Originality/value

The paper critically reads the literature to uncover the contradictions and confusion besetting research in this area and makes original recommendations.
Tolerance of ambiguity and emotional attitudes in a changing business environment
Authors: Nicolaidis Christos , Katsaros Kleanthis
Published: February 2011

Purpose

The aim of the research is to investigate the influence of emotional attitudes towards change on managers' tolerance of ambiguity.

Design/methodology/approach

A total of 70 CEOs of Greek IT firms completed questionnaires examining tolerance of ambiguity, emotional attitudes towards change ambiguity and job satisfaction. Principal components analysis and ordinary regression analyses were used to explore the hypotheses.

Findings

The paper finds that three factors characterize managers' emotional attitudes towards change, namely dominance, arousal, and pleasure. Furthermore, it indicates that job satisfaction can be taken as a critical intervention variable that “energizes” managers' arousal (i.e. stimulation, excitement and frenzy) which, in turn, influences their tolerance of ambiguity.

Research limitations/implications

Deeper and broader level of research is necessary in Greek IT industry regarding the influence of emotional attitudes on tolerance of ambiguity. Likewise, this research should be expanded to other industries.

Practical implications

The findings provide further support on the significance of emotional attitudes during change and the paper suggests policies to enhance managers' tolerance of ambiguity.

Originality/value

The originality of this study lies in the finding that job satisfaction energizes the arousal factor, which, in turn, influences significantly managers' tolerance of ambiguity. Another important contributing factor is that the study is carried out in Greece, where few studies have been conducted in this area.
A structured SWOT approach to develop strategies for the government of Macau, SAR
Authors: Koo Hannah , Chau Ka‐Yin , Koo Leung‐Chi , Liu Songbai , Tsui Shu‐Chuen
Published: February 2011

Purpose

This paper attempts to deploy a systematic and structural approach to examine Macau's strengths and weaknesses and to scan its external opportunities and threats. A fresh way to quantify the extent of perceived opportunities and threats is introduced here. This is adopted and modified from the quality management tool box, i.e. the failure mode and effects analysis (FMEA) and success mode and effects analysis (SMEA).

Design/methodology/approach

The internal factors, i.e. its strengths and weaknesses are systematically and structurally gauged using a Likert scale of 0 to 10 (i.e. 0 representing least important or least well performed … to 10 representing most important and best performed).

Findings

Following the matching of internal factors with the external factors in the strengths, weaknesses, opportunities, and threats (SWOT) analysis, a list of meaningful responses is identified as possible strategies for the Macau SAR Government. The SWOT analysis is simple to use yet powerful and flexible in responding to changes in the external environment and should be useful to organizations both in the commercial sector and government machinery.

Originality/value

This innovative and structured strategic formulation approach is useful to both business practitioners and management consultants.
Rescuing a telecom giant from the jaws of bankruptcy
Authors: O'Regan Nicholas , Ghobadian Abby
Published: February 2011

Purpose

The purpose of this paper is to demonstrate key strategic decisions involved in turning around a large multinational operating in a dynamic market.

Design/methodology/approach

The paper is based on analysis of archival documents and a semi‐structured interview with the chairman of the company credited with its rescue.

Findings

Turnaround is complex and involves both planned and emergent strategies. The progress is non‐linear requiring adjustment and change in direction of travel. Top management credibility and vision is critical to success. Rescue is only possible if the company has a strong cash generative business among its businesses. The speed of decision making, decisiveness and the ability to implement strategy are among the key ingredients of success.

Originality/value

Turnaround is an under‐researched area in strategy. This paper contributes to a better understanding in this important area and bridges the gap between theory and practice. It provides a practical view and demonstrates how a leading executive with significant expertise and successful turnaround track record deals with inherent dilemmas of turnaround.
Audit tenure and the equity risk premium: evidence from Jordan
Authors: Baker Rana Ahmad , Al‐Thuneibat Ali
Published: February 2011

Purpose

The purpose of this paper is to investigate the relation between audit firm tenure and the perceived audit quality measured by the client‐specific equity risk premium. The study population consists of all the manufacturing and service firms traded in Amman Bourse during the period 2002‐2005.

Design/methodology/approach

The Boone et al. model – with some modifications – was used for testing the hypotheses.

Findings

The results show that the relation between audit firm tenure and equity risk premium is positive, the equity risk premium increases with tenure as a result of reduced audit quality. These results were consistent with some previous studies, which showed that long relationships between an audit firm and a client are associated with lower perceived audit quality and, as a result, higher equity risk premium.

Practical implications

The audit firm should be rotated in order to enhance auditor independence and audit quality, and increase investors' confidence in reported earnings. Additionally, investors are encouraged to give higher attention to the tenure of the audit firm when evaluating the quality of the financial reports of the companies they are planning to invest in.

Originality/value

This is the first paper to provide evidence from a developing country about an important issue – audit quality – which is expected to support and sustain improvement of audit quality, and therefore, financial reporting quality.
IFRS and US‐GAAP comparability before release No. 33‐8879
Authors: Liu Chunhui
Published: February 2011

Purpose

The purpose of this paper is to investigate whether reported net income as per US‐generally accepted accounting principles (US‐GAAP) has become comparable to net income as per International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board right before the removal of the US‐GAAP reconciliation requirement and what major accounting elements have caused the differences, if any.

Design/methodology/approach

Using Gray's index of comparability suggested by Haverty, the paper compares the reported net income under IFRS for a sample of US‐listed Chinese companies using IFRS with the reconciled net income under US‐GAAP.

Findings

Consistent with Haverty is the finding that net income under IFRS is still not completely comparable to net income under US‐GAAP for the same company and that the adjustment for tangible assets revaluation is a major contributor to the difference. In addition, different treatment of business acquisition is found to be another major cause of the incomparability. The comparability has improved at 10 percent threshold since Haverty's study.

Originality/value

This paper provides an update on the status of IFRS and US‐GAAP comparability and highlights an additional major area to work on towards improved comparability.
Analyst recommendations and corporate governance in emerging markets
Authors: Yu Minna
Published: February 2011

Purpose

The purpose of this paper is to examine whether analyst recommendations are influenced by the strength of corporate governance in emerging markets.

Design/methodology/approach

It is expected that analysts take into consideration the corporate governance mechanisms when they set their recommendations because better‐governed companies are associated with less risk from management and have value improvement potentials. This hypothesis is tested with a sample of 805 firms in 26 countries from emerging markets. Corporate governance effectiveness is measured by the ratings compiled by Credit Lyonnais Securities Asia, which are based on a series of corporate governance characteristics.

Findings

Results show that analysts tend to issue favorable recommendations for firms with better corporate governance mechanisms. Furthermore, this evidence is concentrated in countries with a code law origin where investor protection is relatively weak.

Practical implications

This paper has important implications for financial analysts and investors by offering insights into how analysts help the market efficiently incorporate the quality of corporate governance in the code law countries of emerging markets. This paper is also of interest to companies by highlighting the significance of establishing good corporate governance mechanisms.

Originality/value

Examining the association between analyst recommendations and the strength of corporate governance adds to the research on the association between corporate governance and analyst activity and therefore highlight the role analysts play in the valuation of corporate governance.
The policy consequence of expensing stock‐based compensation
Authors: Lin Ching‐Chieh , Hua Chi‐Yun , Lee Shu‐Hua , Lee Wen‐Chih
Published: February 2011

Purpose

The purpose of this paper is to investigate the policy consequences of expensing stock‐based compensation in Taiwan.

Design/methodology/approach

Data were collected on listed firms from 2006 to 2008 and a goodness‐of‐fit of accounting earnings valuation model was used to investigate the incremental information content of expensing stock‐based compensation. In addition, two sensitivity indexes were used to investigate the sensitivity between compensation and firm performance before and after income statement recognition of stock‐based compensation.

Findings

It was found that the association between earnings and abnormal returns is stronger after expensing compensation. In addition, the relationship between compensation variables, especially stock compensation, and firm performance is stronger after 2008, indicating that expensing compensation reinforces the relationship between compensation and performance.

Practical implications

The findings suggest that disclosure and recognition are not substitutes. The findings also have implications for standard setters and for investors attempting to mitigate managers' self‐interested behavior.

Originality/value

The accounting treatment of employee stock‐based compensation is a controversial issue among academics, regulators, managers, auditors, and investors. This paper investigates the incremental information content of the new accounting standard and explores whether the relationship between compensation and firm performance has become more transparent than before.
Paclitaxel, ifosfamide, and nedaplatin as second‐line treatment for patients with metastatic urothelial carcinoma: A phase II study of the SUOC group
Authors: Kitamura Hiroshi , Taguchi Keisuke , Kunishima Yasuharu , Yanase Masahiro , Takahashi Atsushi , Shigyo Masanori , Tanaka Toshiaki , Mutoh Masatoshi , Fukuta Fumimasa , Masumori Naoya , Tsukamoto Taiji
Published: February 2011

There is no standard second‐line chemotherapy treatment for recurrent or metastatic urothelial cancer (MUC). The purpose of this phase II study was to evaluate the efficacy and toxicity of the three‐drug combination of paclitaxel, ifosfamide, and nedaplatin (TIN). Patients with MUC were eligible after treatment failure with methotrexate, vinblastine, doxorubicin, and cisplatin, or gemcitabine and cisplatin. Doses for TIN therapy were paclitaxel 175 mg/m2 on day 1, ifosfamide 1500 mg/m2 on days 1–3, and nedaplatin 70 mg/m2 on day 1, every 4 weeks. Tumor response, the primary efficacy parameter, was assessed according to unidimensional measurements (Response Evaluation Criteria in Solid Tumors criteria, version 1.0). Secondary efficacy parameters were overall survival (OS) and progression‐free survival (PFS). Toxicity was assessed according to the National Cancer Institute Common Toxicity Criteria, version 3.0. A total of 45 patients (13 females and 32 males) with MUC were evaluable for response and toxicity. The overall response rate was 40.0%. Median PFS time was 4.0 months (95% confidence interval [CI], 4.6–11.6). Median OS time was 8.9 months (95% CI, 10.5–18.9). Grade 3 or 4 hematologic adverse events were neutropenia (95.6%), anemia (15.6%), and thrombocytopenia (17.8%). The most common grade 3 or 4 non‐hematologic adverse events were anorexia (4.4%) and elevated aspartate transaminase/alanine transaminase (2.2%). No toxic death was observed. The main limitation of this study is that only 10 patients (22.2%) who were previously treated with gemcitabine and cisplatin were included. In conclusion, TIN as second‐line treatment for MUC is an active regimen with a manageable toxicity profile. (Cancer Sci 2011; 102: 1171–1175)
Genetic differentiation of water buffalo (Bubalus bubalis) populations in China, Nepal and south‐east Asia: inferences on the region of domestication of the swamp buffalo
Authors: Zhang Y. , Vankan D. , Zhang Y. , Barker J. S. F.
Published: February 2011

Data from three published studies of genetic variation at 18 microsatellite loci in water buffalo populations in China (18 swamp type, two river type), Nepal (one wild, one domestic river, one hybrid) and south‐east Asia (eight swamp, three river) were combined so as to gain a broader understanding of genetic relationships among the populations and their demographic history. Mean numbers of alleles and expected heterozygosities were significantly different among populations. Estimates of θ (a measure of population differentiation) were significant among the swamp populations for all loci and among the river populations for most loci. Differentiation among the Chinese swamp populations (which was due primarily to just one population) was much less than among the south‐east Asian. The Nepal wild animals, phenotypically swamp type but genetically like river type, are significantly different from all the domestic river populations and presumably represent the ancestral Bubalus arnee (possibly with some river‐type introgression). Relationships among the swamp populations (DA genetic distances, principal component analysis and structure analyses) show the south‐east Asian populations separated into two groups by the Chinese populations. Given these relationships and the patterns of genetic variability, we postulate that the swamp buffalo was domesticated in the region of the far south of China, northern Thailand and Indochina. Following domestication, it spread south through peninsular Malaysia to Sumatra, Java and Sulawesi, and north through China, and then to Taiwan, the Philippines and Borneo.
Possible drug–drug interaction between quetiapine and lamotrigine – evidence from a Swedish TDM database
Authors: Andersson Marine L. , Björkhem‐Bergman Linda , Lindh Jonatan D.
Published: February 2011

WHAT IS ALREADY KNOWN ABOUT THIS SUBJECT

• Preliminary evidence from a single study indicates that co‐medication with lamotrigine may reduce the serum concentration of quetiapine. Since both drugs are commonly used in bipolar disorder such a drug–drug interaction could be of great importance, but the findings need to be confirmed.

WHAT THIS STUDY ADDS

• The association between lamotrigine dosing and lowered quetiapine concentrations was confirmed in a small independent patient sample. The magnitude of the reduction (58%) indicated that the proposed drug–drug interaction may be of clinical importance.

AIM The aim of the present study was to investigate a previously proposed interaction between quetiapine and lamotrigine resulting in reduced serum quetiapine concentrations.

METHODS Data on 402 patients subjected to analysis of quetiapine concentration in serum were extracted from a routine therapeutic drug monitoring database. Among these patients, those concomitantly treated with lamotrigine (n= 22) were identified and matched with 22 controls receiving quetiapine while unexposed to lamotrigine. The dose‐corrected quetiapine concentrations (C : D ratios) in the two groups were compared in both paired and unpaired analyses.

RESULTS Patients co‐treated with lamotrigine had a lower mean C : D ratio (0.71, 95% CI 0.46, 0.97) compared with controls (1.64, 95% CI 1.00, 2.28). Dose‐corrected quetiapine concentrations were 58% lower in patients co‐medicated with lamotrigine.

CONCLUSIONS This study indicates that lamotrigine exposure is associated with substantially reduced serum concentrations of quetiapine, possibly due to induced glucuronidation. These findings need to be confirmed in experimental studies.