bluuebunny/crossref_metadata_2025 huggingface dataset:
La "charapa ardiente" y la hipersexualización de las mujeres amazónicas en el Perú: perspectivas de mujeres locales
Authors: Motta Angélica
Published: February 2017

Desde tiempos coloniales, la Amazonía peruana ha sido representada, internamente, como un paisaje altamente sexualizado; carácter que la imaginación colectiva ha concentrado en las mujeres de dicha región a través de la emblemática figura de la charapa ardiente. Esta representación se refiere a una mujer deseante y siempre disponible para la actividad sexual. Este artículo analiza discursos y experiencias de las propias mujeres de la región en torno de la mencionada representación, demostrando el carácter ambiguo de los significados que a ella se asocian, lo mismo que la participación activa que ellas tienen en los procesos de recreación de la misma.
Novas estratégias da agroindústria Brasileira de suco de laranja: resultados de uma pesquisa preliminar
Authors: Troccoli Irene Raguenet , Macedo-Soares T. Diana L. v. A. de
Published: February 2017

Este artigo apresenta os resultados do primeiro estágio de uma pesquisa mais ampla sobre a sustentabilidade das estratégias adotadas pelas empresas tradicionalmente orientadas para o mercado externo da agroindústria brasileira de suco de laranja que escolheram também focalizar o mercado local. Trata-se de pesquisa que se destaca, no Brasil, por analisar mais profundamente os problemas estratégicos críticos em um dos mais importantes setores da indústria brasileira de alimentos, por meio de instrumentos da administração estratégica. O artigo trata de questões relacionadas às características das estratégias destas firmas e à avaliação de sua consistência com as implicações dos fatores ambientais externos às empresas. Provisoriamente, conclui-se que as estratégias são congruentes com estes fatores, por explorarem duas oportunidades cruciais, relacionadas ao fato de se tratarem de empresas primeiras entrantes: 1) um crescente mercado para produtos nutricionais e de alta qualidade, devido aos fatores sócio-demográficos locais favoráveis; 2) complementadores potenciais com os quais estas empresas puderam estabelecer alianças estratégicas para os necessários processos de distribuição e de marketing com vistas a atender, com maior eficiência, às crescentes necessidades deste nicho de mercado. Reforça-se a importância dos próximos estágios da pesquisa, especialmente as investigações de campo, para validar estes resultados provisórios e para fornecer novos subsídios sobre a questão da sustentabilidade das estratégias em questão, ao aprofundar a análise de todos os fatores em jogo, especialmente, os internos dentro de uma perspectiva Resource-Based.
A Construção de estratégias competitivas explorando diferentes abordagens dinâmicas
Authors: Ribeiro Maria Teresa Franco , Rezende Daniel Carvalho de , Rezende Gustavo Carvalho de
Published: February 2017

Buscou-se a combinação de duas correntes teóricas não conflitantes (evolucionistas e neo- institucionalistas) com as contribuições de Michael Porter, na busca de novos elementos que auxiliem na compreensão das estratégias das firmas. Nesse sentido, aprofundou-se a discussão acerca do conceito de coerência, que emerge como um dos mais importantes na compreensão do processo histórico de formação de competências tecnológicas, o que restringe as estratégias de diversificação e ajuda na definição das fronteiras das firmas e nas estratégias de arranjos e parcerias inter-firmas na busca da vantagem competitiva, ressaltando-se a importância da inovação como elemento vital nessa busca.
Dois casos de poliembrionia em Clusiaceae: Clusia criuva Cambess. e Clusia fluminensis Planch. & Triana
Authors: Correia Maria Célia Rodrigues , Benevides Cristine R. , Lima Heloísa Alves de
Published: February 2017

Ensaios de germinação com sementes de Clusia criuva Cambess. e de Clusia fluminensis Planch. & Triana, espécies dioicas, arbóreas, presentes na restinga de Maricá, Rio de Janeiro, revelaram altos percentuais germinativos, 99,2% (n = 140) para C. criuva e 100% (n = 75) para C. fluminensis. Entre as sementes germinadas foi observada a ocorrência de poliembrionia num percentual de 2,1% para C. criuva e de 2,7% para C. fluminensis.
Desmídias perifíticas de cinco lagoas do Distrito Federal, Brasil: I - Gênero Cosmarium Corda ex Ralfs
Authors: Estrela Lillian Mércia Benevenuto , Fonseca Bárbara Medeiros , Bicudo Carlos Eduardo de Mattos
Published: February 2017

Teve-se como objetivo realizar o levantamento taxonômico do gênero Cosmarium de cinco lagoas oligotróficas do Distrito Federal: Lagoa Bonita, Lagoa Joaquim Medeiros, Lagoa do Cedro, Lagoa Taquara e Lagoa dos Gansos. As coletas foram realizadas entre 2006 e 2009, por meio do espremido de macrófitas e/ou raspagem de substratos submersos, num total de 18 amostras depositadas no Herbário da Universidade de Brasília. O material coletado foi fixado em formalina a 4% e analisado sob aumentos de 400× e 1000×. Foram registrados 42 táxons. Desses, 30 são citações pioneiras para o DF e oito provavelmente para o Brasil. A Lagoa Bonita apresentou o maior número de táxons (32), seguida pela Lagoa Joaquim Medeiros (19), Lagoa do Cedro (16), Lagoa dos Gansos (15) e Lagoa Taquara (9). Cosmarium pseudopyramidatum var. pseudopyramidatum Lundell foi o táxon mais comum, presente em 100% das amostras.
Flora de comunidades de macroalgas lóticas de fragmentos florestais remanescentes da região noroeste do Estado de São Paulo, Brasil
Authors: Almeida Fernanda Vital Ramos de , Necchi Jr. Orlando , Branco Luis Henrique Zanini
Published: February 2017

Foram amostrados 17 riachos, em 12 fragmentos durante a estação seca (junho a agosto de 2007 e de 2008). Foram identificadas 16 espécies de macroalgas, pertencentes a 14 gêneros. Cyanophyta e Chlorophyta foram os grupos mais representativos (44 e 38%, respectivamente), seguidos por Rhodophyta (12%) e Heterokontophyta (6%). O número global de espécies foi baixo, fato atribuído à predominância de substrato areno-argiloso (65%) e de trechos sombreados (53%). A maioria das espécies (69%) ocorreu exclusivamente em um único riacho, padrão frequentemente observado para macroalgas lóticas. Vaucheria pseudogeminata foi reportada pela primeira vez para o Brasil e Trichocoleus sociatus para a região noroeste do Estado de São Paulo. Comparando a flora de macroalgas encontrada com aquelas de outras regiões/biomas do Estado de São Paulo, notou-se maior semelhança com Floresta Tropical (56% espécies em comum), conforme esperado, por ser o bioma mais próximo e composto também por Floresta Estacional Semidecidual.
Impact of a near-death experience and religious conversion on the mental health of a criminal: case report and literature review
Authors: Braghetta Camilla C. , Santana Glícia P. , Cordeiro Quirino , Rigonatti Sergio P. , Lucchetti Giancarlo
Published: February 2017

OBJECTIVE: Near-death experiences have been defined as profound psychological events that may occur to a person while close to death or in a situation of extreme physical or emotional distress. These experiences seem to have an important effect on the patients’ mental health and may occur in several situations despite their cultural and religious beliefs. CASE DESCRIPTION: The present case report describes the positive impact of a near-death experience (Greyson scale > 7) followed by religious conversion on the mental health of a former prisoner. COMMENTS: Investigation of the role of near-death experiences by the scientific community could shed light on the coping mechanisms and moral/ethical transformations that take place in these individuals.
Corporate System of Advanced Education for Teachers in Educational Organization in the Context of Professional Standard Implementation
Authors: Kurneshova L.Y. , Dydzinskaya D.V. , Tralkova N.B. , Karma A.Y.
Published: February 2017

The paper describes methodological approaches to the development of corporate system of advanced training for teachers in the context of implementation of the professional standard for teachers as a basis for competitive growth of educational institution. The key stage in this process is to identify areas of concern in the competencies of the teaching staff. The paper presents a system developed for these purposes which consists of the following four elements: self-testing for teachers; professional training; psychoeducational diagnostic training; training on creating a corporate roadmap for raising professional skills in teachers. The paper addresses the issues related to roadmap development basing on the foresight methodology. Finally, it provides an analysis of various forms of advanced training programs for teachers used in 46 regional centers for advanced training in every federal region of the Russian Federation.

Supported by the Moscow Educational Department. The research work “Development and realization of manage- ment project “Organization and implementation of teacher professional training based on the requirements of Teacher professional standard”
Comparison Study on Teachers’ and Parents’ Assessment of Public Participation in Basic Educational Programs Development
Authors: Vachkov I. , Vachkova S.N. , Voropaev M.V. , Zadadaev S.A. , Remorenko I.M.
Published: February 2017

This research took place in 74 regions of Russian Federation. 9772 teachers and 4565 parents participated in this study. The aim of the research was to observe the assessment made by teachers and parents (legal representatives) about the degree of public participation in basic educational programs development. The subjects filled specially designed questionnaires. These questionnaires had small differences for teachers and parents. The main assessment criteria of public participation in educational institutions activity were the frequency of approaches to parents (legal representatives) on various issues, their estimation and level of satisfaction in education and personal development methods performed by educational organizations. According to the obtained data, all of the described assessment criteria statistically significantly differ between teachers and parent (legal representatives). The majority of teachers do not approve parents’ attempts to influence the content, specification and methods of education and personal development. On the contrary, parents declare their readiness to do so, while sometimes their requests are unfounded.
Family Representations of Preschool Age Children Living in Families of Different Socio-Economic Status
Authors: Shvedovskaya A.A. , Zagvozdkina T.Y.
Published: February 2017

A child’s family representation is one of the crucial factors of psychological and social development in older preschoolers. The article emphasizes that the relationships between a child’s family socioeconomic status (SES) and family representation are mediated. Family members’ perception and evaluation of their socioeconomic status are conditioned with subjective economic well- being. It influences family functioning which, in its turn, conditions particular characteristics of a child’s emotional experiences in family situation and his/her family representations. The analysis of relationships between subjective economic well-being of family members and a child’s family representations demonstrates the trend to increase in severity of poor well-being markers in case of increase of parental markers of financial stress, financial deprivation and financial anxiety. An empirical classification of family representation types in children from families with various SES is provided. It includes positive family representation “Favorable family”, family representation with some elements of disharmony “Unstable family”, representation of a distant family “Distant family”, conflict family representation “Conflict family”, negative family representation “Unfavorable family”.
Texts of the New Nature: Problems of Interdisciplinary Research
Authors: Kazakova E.I.
Published: February 2017

The paper explores a new research direction unfolding at the junction of modern textual criticism and modernization challenges in education. It outlines the theoretical basis for constructing a model of the «new literacy» representative of the 21st century. The paper contains an attempt to describe the main trends in the changes of text: rejection of linearity, shrinkage of text volume, orientation to «small text structures», duplicative character of different sign systems in the content reflection, increase of interactivity, feedback forms development, emergence of
«new forms of authorship» and a number of other trends. Examples are given of new literature, created in the form of comics, presentations, infographics, drawn notes. The author reveals the scope of «the texts of the new nature» through the provision of its characteristics; describes two main technologies of formation of such texts; provides experimental data that characterize the process of perception of this kind of texts; and, finally, formulates priority research issues.
A Pioneer’s Path
Authors: Office Editorial
Published: February 2017

Humanity at work via Dr. Radmilo Roncevic’s breakthrough in surgery of the orbit
Time-Sequential Working Wavelength-Selective Filter for Flat Autostereoscopic Displays
Authors: De La Barré René , Bartmann Roland , Jurk Silvio , Kuhlmey Mathias , Duckstein Bernd , Seeboth Arno , Lötzsch Detlef , Rabe Christian , Frach Peter , Bartsch Hagen , Gittner Matthias , Bruns Stefan , Schottner Gerhard , Fischer Johanna
Published: February 2017

A time-sequential working, spatially multiplexed autostereoscopic 3D display design consisting of a fast switchable RGB-color filter array is presented. The wavelength-selective filter barrier emits the light from a display over a larger active area than common autostereoscopic barrier displays. An optical modelling of wavelength-selective barriers has been used for instance to calculate the light ray distribution properties of that arrangement. To find well working display designs, automated searches by simulation and computational evaluation has been proceeded. Wavelength-selective filter barrier arrangements exhibit characteristics different from common barrier displays with similar barrier pitch and ascent. In particular, these constructions show strong angular luminance dependency under barrier inclination specified by correspondent slant angle. In time-sequential implementation it is important to avoid that quick eye or eyelid movement lead to visible color artifacts. In the millisecond regime tunable liquid crystal Fabry-Pérot color filters for the colors red, green and blue are presented. They consist of a sub-micrometer thick nematic layer sandwiched between dielectric mirrors and ITO-electrodes. These cells shall switch narrow-banding light of red, green or blue. An array for a glasses-free 3D display has to be equipped with several thousand switchable filter elements having different color apertures. The newly introduced design is usable as a multi user display as well as a single user system with user adaptive control.
Which plants are needed for a French vertical-flow constructed wetland under a tropical climate?
Authors: Lombard Latune R. , Laporte-Daube O. , Fina N. , Peyrat S. , Pelus L. , Molle P.
Published: February 2017

Plants are essential in the functioning of constructed wetlands. When setting up systems in tropical areas, Phragmites australis is not always a good choice because of its invasiveness. In vertical-flow constructed wetlands (VFCWs) fed with raw wastewater, the main role of plants is their mechanical action, which helps prevent clogging of the deposited organic matter. Various species have already been used in some tropical climate studies, but generally not for such systems, and no attempt has been made to screen large numbers of alternative species. Here we describe a method to select species among a hundred studied, along with promising plants tested in batches, and at full scale. Species of the order Zingiberales showed good adaptation to the main stresses generated by VFCWs. They have long vegetative cycles, which may require weed growth control after plantation, but low harvesting frequency. Root systems with long rhizomes such as Heliconia psittacorum should take priority to ensure even growth and avoid clumps. To limit the phytosanitary risk with Musaceæ (banana tree), Canna indica or Canna glauca are preferable. Species of the genus Cyperus also demonstrate good adaptation, and could be of interest, especially when a high stem density is required (e.g. planted sludge drying beds).
Pilot‐Scale Evaluation of pH‐Based Control of Single Stage Deammonification Processes for Sidestream Treatment
Authors: Graham David M. , Jolis Domènec
Published: February 2017

Pilot scale sidestream reactors, utilizing a pH‐based control strategy, were operated at the San Francisco Public Utilities Commission (SFPUC), Southeast Plant (SEP) for the biological treatment of anaerobically digested sludge centrate using combined partial nitritation/anaerobic ammonium oxidation (anammox) as the main nitrogen removal pathway. Reactors were setup to functionally simulate two full‐scale commercial processes common to the industry using nonproprietary, flexible, pH‐based process control strategy. Results demonstrated that comparable full‐scale loading rates and removal efficiencies can be reached for different reactor configurations while maintaining stable process performance using this relatively simple control strategy.
Psychoanalytic Reading of Love and Desire in Somerset Maugham’s Of Human Bondage
Authors: Ettehadi Amin , Sistani Roohollah Reesi
Published: February 2017

The present study was a comprehensive psychoanalysis of the idea of love and desire in Somerset Maugham’s Of Human Bondage. The study explored the relationship Philip Carey, the main character, develops with Other people throughout the novel. To further enrich the analysis, Lacan’s theory of human love and desire was employed to provide a psychoanalytic examination of Philip Carey’s bond of love for Mildred, on the one hand, and his gradual loss of identity in his desire towards her, on the other. The study inspected the nature of Philip’s desire for Mildred and shows how he turnd to a desiring subject in his bond to her and finally reached a state of selflessness and depended heavily on Mildred as the object of his desire which drove him towards self-contempt and a masochistic denial of real facts in his life.
Corporate governance and the value of the firm: An empirical analysis of companies listed in the JSE securities exchange of South Africa
Authors: Waweru Nelson M
Published: February 2017

This study examines the corporate governance characteristics influencing the value of the value of the firm in South Africa (SA). Corporate governance variables including Block shareholding, Dispensed shareholding, Board size, Proportion of non-executive directors and Audit quality were identified from the corporate governance literature. Using panel data of 247-firm years obtained from the annual reports of the 50 largest companies listed on the JSE Securities Exchange of SA, this study found that block shareholding and the proportion of NEDS as the main corporate governance characteristics influencing the value of the firm in SA. The results of this study are important to the King Committee and other corporate governance regulators in SA, in their effort to improve corporate governance practices and probably minimize corporate failure and protect the wellbeing of the minority shareholders. Furthermore, the study contributes to our understanding of the corporate governance variables affecting firm value in developing economies, especially SA.
Critical success factors for the implementation of an operational risk management system
Authors: Gibson M.D. , Young Jacobus
Published: February 2017

Operational risk has become an increasingly important topic within financial institutions resulting in an increased spend on operational risk management solutions. While this is a positive approach, evidence has shown that information technology implementations have tended to have low rates of success. Research has highlighted that a series of defined critical success factors could reduce the risk of implementation failure. Twenty-nine critical success factors were identified by means of a literature review and confirmed by a questionnaire that was distributed to an identified target group within the South African financial services community. Reponses to the questionnaire revealed that 27 of the 29 critical success factors were deemed important and critical to the implementation of an operational risk management system.
Social reporting in the annual reports of Iranian listed companies
Authors: Yaftian Ali , Wise Victoria , Cooper Kathie , Mirshekary Soheila
Published: February 2017

This paper examines corporate social reporting (CSR) in the annual reports of companies listed on the Tehran Stock Exchange (TSE) in Iran. Descriptive analysis and multiple linear regression techniques are used to analyse the extent of CSR disclosure and to test hypotheses regarding the relationships between CSR disclosure and four company characteristics namely size, profitability, financial leverage and industry type. Among five important themes of social disclosure (human resources, environmental performance and policies, community activities, energy consumption, and customer satisfaction and product quality) the human resources theme was found to be the most common type of disclosure made. Only the size of the disclosing company was found to be significantly related to the level of overall CSR disclosure.
The usefulness of operating cash flow information: Does format matter?
Authors: Farshadfar Shadi
Published: February 2017

This study investigates whether the direct method of presenting cash flows from operations is superior to the indirect method in its ability to forecast future cash flows. It also considers the effect of industry characteristics on the relative usefulness of direct and indirect methods of cash flow presentation. The study, which uses a sample of Australian firms, finds that both the direct and indirect methods improve the forecast of future cash flows. However, the indirect method of reporting cash flows from operations is more relevant than the direct method in predicting future cash flows. Evidence from the industry-level analysis overall reinforces the main results.
Bank capital and Basel 3 impacts on Italian banks
Authors: Tutino Franco Luciano , Birindelli Giuliana , Ferretti Paola
Published: February 2017

The issues raised by Basel III, with specific reference to the introduction of more stringent capital requirements, are numerous and touch upon different aspects, such as cost and profitability-related problems and the repercussions concerning strategies implemented by banks. Our aim is to clarify the impact on Italian banks. We will first present some general considerations addressing the main implications for bank management, before illustrating the results of a survey aimed at detecting possible fears and doubts, on the part of banks, with reference to the extent to which some of the capitalisation proposals included in the reform can actually be pursued
Investigation into consumers’ perceptions of advertised retail brands within black urban areas of South Africa
Authors: Cant Michael Colin , Spolander Leanne Lauren
Published: February 2017

The main aim of this study was to investigate the perceptions consumers’ of Black urban areas of Tshwane, South Africa hold in relation to advertised retail brands and branding. The importance of Black urban area consumers’ perceptions in relation to advertised retail brands is that in the era before independence these communities were generally regarded as being lower income and not brand loyal due to financial constraints. The number of shopping malls and branded stores were limited in these areas but since 1994, when South Africa became a democracy, things have changed. The income in these communities has steadily risen thereby attracting the attention of retail developers (Ligthelm, 2008:37; Tustin & Strydom, 2006:48-49). With the increased retail development in these communities, consumers residing in these areas have become more exposed to branded merchandise and the advertising thereof. This has led to new perceptions towards brands being formed and in the process opening possible new opportunities for retailers. In order to satisfy the research objectives of the study, a self-administered location based survey was distributed to the residents of Shoshanguve, Mamelodi and Attridgeville; Black urban areas within the Tshwane region of South Africa.
Loyalty cards: Strategic marketing tool or wasted marketing effort?
Authors: Cant Michael Colin , Meyer Adri
Published: February 2017

The rapid rise and distinctive demands of black consumers after the apartheid era in South Africa has brought forward many opportunities for retailers. One of these opportunities is examining the purchase behaviour of black consumers if they possess a loyalty card. The purpose of this research was to investigate the purchasing habits of black South African consumers who possess a loyalty card, looking specifically at purchase frequency and polygamous loyal customers. In order to test various hypotheses, 65 black South African clients of two pharmaceutical outlets were surveyed. The results of the study indicated that a relationship does exist between the possession of a loyalty card and shopping frequency, as well as the relationship between polygamous loyalty and shopping frequency.
Sporting: Service quality and satisfaction amongst male spectators on university sporting grounds
Authors: Cant Michael , Wiid Jan
Published: February 2017

The main aim of this study was to investigate the quality of service experienced by male spectators at a sporting event as well as well as to establish if there is a relationship between a core sport product and the product servicescape in conjunction to male spectator satisfaction. The study also investigated the perceived value that male spectators receive from the total sport product which forms an integral part of the total market offering to spectators. It is important to establish this relationship as it will have an impact on future attendance of these type of events. In order to achieve the objectives of the study a survey was distributed to male spectators who watched soccer and basketball games on the grounds of a particular university. The respondents were exposed to the services, staff and activities in and around the stadium before, during and after the matches to ascertain total male satisfaction of the sporting event.
The corporate governance responsibility between critical thinking and proactive ideas within perspective of self-realization
Authors: Strologo Alberto Dello , Ricci Federica , Marocco Emiliano
Published: February 2017

The purpose of this paper is to clarify the main problems that the company’s economic doctrine has raised in recent years on the subject of corporate social responsibility; in particular, the work, considering the critical and eventually incomplete profiles emerged, has the ambition to outline an alternative reading useful to interpret the issue of corporate social responsibility in terms of effective utility management approached in the perspective of self-realization
On the utility of the hurst exponent in predicting future crises
Authors: Coen Tom , Piovani Gianluca , Torluccio Giuseppe
Published: February 2017

The aim of this article is to ascertain whether and to what extent the Hurst exponent can be used to forecast future crises. The first and second sections focus on the Hurst exponent, giving theoretical insights and a summary of its uses in finance. The analysis of a dataset of 35 indices and stocks representing various geographical areas and economic sectors is presented in Section 3, while in the last section the conclusion is drawn that in fact the Hurst exponent has, after all, no usefulness in predicting future crises
Corporate governance quality, incentive factors and voluntary corporate governance disclosures in annual reports of Malaysian publicly listed companies
Authors: Lokman Norziana , Cotter Julie , Mula Joseph
Published: February 2017

This paper investigates the relationship between corporate governance quality and voluntary disclosure of corporate governance information for listed companies in Malaysia. The moderating impacts of incentive factors (capital market transactions and stock-based incentives) on this relationship are also examined. Corporate governance quality is measured using a comprehensive index. The empirical evidence of this study is broadly consistent with the notion that high corporate governance quality is positively related to a greater extent of voluntary disclosure. Stock-based compensation significantly influences the relationship between corporate governance quality and voluntary disclosures; however the other incentive factors examined do not appear to influence the relationship
The use of key risk indicators by banks as an operational risk management tool: A South African perspective
Authors: Young Jacobus
Published: February 2017

The use of key risk indicators as a management tool is one of the requirements for the calculation of a bank’s operational risk capital charge. This article provides insight into the use of key risk indicators as an operational risk management tool by South African banks and indicates their level of preparedness to comply with the criteria. The results of a questionnaire aimed at junior and middle management indicated that banks are not suitably prepared to implement a key risk indicator management process and have a general lack of understanding of the underlying theory and concept of the criteria to use key risk indicators. The advantages of using key risk indicators are not fully exploited and more benefits can be realised by raising awareness in this regard.
Long term container volume forecasting: Decoupling gross domestic product and container movements
Authors: Pienaar W.J. , Havenga Jan Hendrik , Simpson Zane P. , van Eeden J.
Published: February 2017

The correlation between container trade and economic growth is currently the most common relation used to forecast international trade container demand volumes. The article argues that there is a ceiling level in the propensity to containerise, as all the suitable volumes of the underlying commodities shift to containers over time. Also, the link between freight transport and gross domestic product (GDP) will decouple as more sustainable approaches to economic development and freight transport are necessitated by economic and environmental realities. A commodity-based model, that takes the underlying drivers of containerisation into account, is proposed as a more realistic forecast of container demand. Applying this model could materially influence large-scale investment decision making.
Greenwashing of it brands: A comparative study
Authors: Chan Anthony
Published: February 2017

This paper attempts to uncover the reasons behind discrepancies between the perceived “greenness” of an IT brand and an objective evaluation of the company’s sustainability practices through a study of corporate websites as brand positioning tools. Different elements of corporate branding strategy are examined, and areas for further research are suggested. An analysis of the corporate websites of six IT vendors (HP, Dell, Apple, Microsoft, Nokia and Samsung) is conducted to collect data along two dimensions: functional attributes and emotional benefits of their sustainability efforts. For functional attributes, data on product strategies, corporate social responsibility programs and environmental responsibility efforts are collected. For emotional attributes, the existence of any emotional appeal in the corporate websites is documented and categorized. The data is then compared with the results from the Greenfactor study and the Greenpeace score card to identify similarities and differences between perception and substance, such that two categories of green brands can be identified: high perception, low substance and low perception, high substance. First, corporate websites of all studied companies are similar in terms of content and design, indicating websites are not a differentiating factor. Second, IT company websites appeal to the functional dimension of green brand positioning strategies more so than emotional dimension. Third, IT companies are mindful of accusations of greenwashing and are careful about environmental claims. The green branding strategies of the major IT firms are similar in nature and so building a distinctive, consistent and “strong” brand in this context becomes a challenge. Some companies are breaking away by actively seeking new ways to position themselves as pioneers of environmentally responsibility. Dell’s ban on e-waste export, for example, is a step in this direction, and Apple’s communication strategy tends to stress its leadership role in sustainable practices.
Incident risk management: The case of banks in east and West Africa
Authors: Marx Johan , Mynhardt Ronald Henry
Published: February 2017

An incident is the occurrence of a seemingly minor event, which is important enough that, if not properly managed, can lead to serious consequences. In contrast, a crisis is a stage in a series of events that significantly determines the direction of all future events. Following the much-publicized financial crises around the world, research was conducted amongst banks in East and West Africa to establish whether these banks are actively managing their incidents and crises. The study on which this article is based found that little was being done with regard to managing incidents. It was concluded that banks need assistance to prevent incidents turning into crises. A specific incident management framework is recommended that when implemented could reduce the risk of incidents becoming crises.
Do corporate bond rating revisions convey information about earnings and dividend changes?
Authors: Anderson Steven T. , Bhabra Gurmeet Singh , Bhabra Harjeet S. , Lamba Asjeet S.
Published: February 2017

We study the information content of corporate bond rating changes regarding future earnings and dividends. Consistent with previous findings, rating downgrades are associated with negative abnormal stock returns, while rating upgrades appear to be nonevents. For downgrades, earnings decline in the two years prior to and the year of the rating change announcement but increase in the year after the rating review. We also find that rating downgrades are followed by a subsequent downward adjustment in dividends. While rating upgrades follow a period of rising earnings, they do not signal any increase in future earnings and no subsequent dividend adjustments are observed. Overall, our results indicate that rating agencies respond more to permanent changes in cash flows and provide little information, if any, about future cash flows.
Success factors for exporting industrial products. The view point of major South African manufacturers
Authors: Wiid Jan
Published: February 2017

Trading on foreign markets creates opportunities and holds many advantages for local businesses. In order to reap these benefits local business has to successfully enter and trade on foreign markets. This requires knowledge and insight in international marketing environment and environmental variables as well as the compilation of an appropriate marketing mix. This raises the question, which factors contribute to international success. The purpose of this study is to establish the critical success factors that must be taken into consideration by South African marketers of industrial products to penetrate international markets successfully and to be able to compete in these markets. List of possible success factors were compiled through a literature study and most important factors were identified by means of a Delphi technique. Only the success factors that were identified as being important were included in the structured questionnaire and participating enterprises have to evaluate these success factors on a 1-5 point Likert scale in terms of the degree of importance for different parts of the world. It’s clear from the study that success factors are predominately in the micro environment with little difference between product type but differs markedly between difference part of the world.
The determinants of the purchase of D&O insurance in Taiwanese firms: Corporate governance and management turnover perspectives
Authors: Chang Ling-Ling , Hsiao Fujen Daniel
Published: February 2017

Accounting scandals in recent years have exposed that a high risk in business operations and caught the public attention. Thus, the Taiwanese government has strengthened the necessary regulations to protect shareholders’ rights, emphasizing breach of trust by managers and irresponsibility by board of directors (BOD). Situations such as class action lawsuits filed by investors against firms for deficiency in disclosures revealed that firms could purchase directors & officers liability insurance (D&O insurance) to reduce and diversify the potential risks that result in severe harms by management and board decisions. Our study also shows that decisions to purchase D&O insurance may influence the decision making process of BOD and high-level management, and it may even impact the likelihood of management turnover. The purpose of the study is to examine the main determinants that would influence the firm’s decision on whether to purchase D&O insurance. From empirical evidence, we find the purchase of D&O insurance is more likely when firms are greater in BOD independence, higher BOD average compensation, with greater high level management turnover, larger in size, and in the electronics industry. On the other hand, firms are less likely to purchase D&O insurance when there are higher frequencies in change of external auditors, greater deviation of ultimate controlling shareholders cash flow rights and equity control rights, and when firms are with greater in BOD directors serving as firm managers. However, no relationship is found for firms’ D&O insurance purchase relates to information disclosure transparency, and duality of CEO and BOD chairman
Corporate governance and executive remuneration in Brazil
Authors: Carvalhal da Silva Andre , Sampaio Mariana , de Castro Ferreira Vicente Antonio
Published: February 2017

Executive remuneration has gained importance both in the academic and corporate fields, especially with the outcome of the scandals involving executives from large North-American corporations in the 2000’s. In the international literature, there are many studies about executive remuneration and how it relates to agency theory and corporate governance. However, there are a few studies about executive remuneration in the Brazilian market, and most of them are qualitative. One of the great problems of research in this area is the difficulty in obtaining data about executive remuneration in Brazil. These data, when available, are very aggregated and not very clear. The objective of this paper is to analyze the determinants of executive remuneration in Brazil, and the relation between executive remuneration and corporate governance. This research is original in Brazil, bringing a great contribution to the literature of corporate governance. Our results indicate that companies with bad governance tend to pay greater remuneration to their executives. Moreover, companies paying greater remuneration perform worse in the future. In other words, paying more to executives does not result in better profitability in the future
Family ties, do they matter? Family ownership and firm performance in Peru
Authors: Franco Julián Benavides , Mongrut Montalván Samuel , González-Velasco Mónica
Published: February 2017

This paper studies the relationship between ownership concentration, family ownership, management, and market and accounting performance for 59 industrial firms listed in the Lima Stock Exchange during the period of 1999 to 2005. An inverted U-shaped relationship was found between ownership concentration and market performance in both family and non-family firms, pointing out an entrenchment effect or excessive risk aversion of the controlling group. This effect is worsened for family firms. The presence of family members as CEOs, Chairmen and Board Members is also negative for a firm’s performance and family ownership was found to increase the leverage of a firm.
Explaining SRI behaviour of Malaysian unit trust fund managers using theory of planned behavior
Authors: Talha Mohammad , Abdullah Salim Abdullah Sallehhuddin , Masoud Shukor Bin , Abu Said Al-Mansor
Published: February 2017

This study aims to examine the impact of Theory of Planned Behavior components – attitude, subjective norms and perceived control behavior on perceived socially responsible investment (SRI) behavior among fund managers of unit trust fund companies with intention to engage in SRI as a mediating variable. This cross sectional study employs questionnaire to collect the opinion from respondents. Three hundred and twenty questionnaires have been distributed but only 84 have been returned by the fund managers, with a response rate of 26.25 per cent. A scan of such questionnaires further revealed that only 73 could be taken up for analysis. Thus, the usable rate is 22.81 percent. Structural Equation Modeling (SEM) that has been used in the study has revealed that the model has a good fit for the model (above minimum requirements for goodness of fit criteria) which indicates the appropriateness of instrument and measurement. The analysis shows that subjective norms have significant and positive direct effect on perceived SRI behavior. In addition, subjective norms also have a significant and positive indirect effect on perceived SRI behavior through intention to engage in SRI. Attitude has a positive and significant direct impact on intention, while it does not have a significant direct effect on perceived SRI behavior. Besides, the study has evidenced significant direct effect of intention on perceived SRI behavior. However, the study has not found any evidence to support the association of perceived control behavior with intention and perceived SRI behavior. The major limitation of this existing study is a lower response rate; nevertheless it provides good understanding on the interaction of attitude, subjective norms, perceived control behavior, intention and behavior in the context of socially responsible investment in emerging economies like Malaysia.
The importance of firm ownership on CEO compensation system: an empirical study of New York stock exchange (NYSE) companies
Authors: Nulla Yusuf Mohammed
Published: February 2017

This important study in Executive Compensation topic investigated the importance of Firm Ownership on the CEO Compensation in the New York Stock Exchange (NYSE) companies. This research had compared the CEO Compensation System of the Owner-Managed and the Management-Controlled companies from the period 2005 to 2010. The research question for this study was: is there a relationship between the CEO Cash Compensation, the Firm Size, the Accounting Firm Performance, and the Corporate Governance, among the Owner-Managed and the Management-Controlled companies? It was found that, there was a relationship between the CEO Salary, the CEO Bonus, the Total Compensation, the Firm Size, the Accounting Firm Performance, and the Corporate Governance, among the Owner-Managed and the Management-Controlled companies.
Does IFRs convergence improve quality of accounting information? Evidence from the Chinese stock market
Authors: Qu Wen , Fong Michelle , Oliver Judy
Published: February 2017

This paper aims to examine whether the 2007 IFRS converged Chinese GAAP has improved the quality of accounting information for investors in the A-share market in China. We analyse investor’s reaction to financial information released pre and post IFRS convergence in China. Multiple regression analysis was employed using data from 309 listed Chinese companies. The findings of this study show that earnings per share, relative to book value of equity, is a stronger explanatory factor of market return in both the pre- and post IFRS convergence periods, suggesting that investors rely heavily upon earnings released by listed companies when making security price decisions in the Chinese stock market. The results also suggest that investors’ reliance on the income statement information for investment decisions becomes greater in the post IFRS convergence period.
The financial impact of strikes: A worker’s perspective
Authors: de Wet J.H.V.H.
Published: February 2017

The consequences of labour strikes are many and varied and the aim of this manuscript is to focus solely on the financial ramifications of a particular strike. More specifically, it investigates the gains and costs from a worker’s perspective, using the ex post data of three case studies of strikes that took place in 2010, involving the trade unions of Transportation Network (TRANSNET), Passenger Rail Agency of South Africa (PRASA) and Members of Automotive Manufacturers Employers’ Organisation (MAMEO). The findings indicate that for Transnet the present value of the net benefits and costs was negative, indicating that the strike was not profitable from a worker’s point of view, while it was indeed profitable as far as the PRASA and MAMEO strikes are concerned. The study also reveals that a breakeven number of strike days, appropriate to the peculiarities of each case, can be determined which can be used as a benchmark to monitor the length of the strike period.
The value relevance of fair value accounting: Evidence from the real estate industry
Authors: Garg Mukesh , Hanlon Dean
Published: February 2017

This study examines whether investors use the fair value of real estate investments in the balance sheet, and unrealized fair value gains and losses in the income statement, in their price setting process. Drawing on sample firms from the real estate development industry in New Zealand, the results of the current study suggest that: (1) unrealized fair value gains and losses on real estate investments have incremental value relevance compared to historical cost earnings, controlling for the method of recognition of the fair value gain or loss; and (2) current fair value of real estate investments has incremental value over historical book value of real estate investments. Such investigation is important given the current international debate concerning fair value accounting
Shareholder protection and bank board quality - an international perspective
Authors: Grove Hugh , Victoravich Lisa , Xu Tracy
Published: February 2017

This study analyzes the quality of banks’ boards of directors across Europe and the United States (US). We investigate the interactions between the legal protection of investors and ownership concentration to explain the quality of boards at 190 of the largest publicly-traded US and European banks in 2005, well before the unraveling of the financial crisis in 2008. Overall, our results show that in Europe, where legal protection of shareholders is lower than the US, the quality of boards is lower when ownership is more concentrated. Since there are lower expected costs of conflicts with minority shareholders in Europe, the controlling shareholders maximize their own interests by promoting a board of lower quality. In contrast, since there are higher expected costs of conflicts with minority shareholders in the US, the controlling shareholders promote a board of higher quality, thereby limiting their legal responsibility in case of conflicts. Thus, the quality of the board depends upon the interaction between institutional factors (investor protection) and firm-specific characteristics (ownership concentration).