bluuebunny/crossref_metadata_2025 huggingface dataset:
Antecedents of MRP adoption in small and medium‐sized firms
Authors: Petroni Alberto , Rizzi Antonio
Published: April 2007

This research seeks to provide an understanding of the MRP adoption process using classic adoption models for prediction. To this end, four classical adoption models were used to provide the foundation for the constructs tested in this study. The framework of research strives to investigate the relationships between benefit analysis, feasibility studies, organizational willingness and the mediating construct, MRP positive evaluation. A statistical analysis on a sample of 109 small and medium‐sized firms was carried out which revealed that these constructs play an important role in the decision making process leading, ultimately, to MRP adoption. The analysis has, thus, lent support to the adoption models considered and might provide useful indications to managers seeking to maximize the investment in MRP packages.
Benchmarking critical factors for TQM
Authors: Zairi Mohamed , Youssef Mohamed A.
Published: April 2007

Provides two definitions of TQM which address TQM critical factors.
Also examines a number of self‐assessment frameworks and explains the
role they play in determining the TQM critical factors.
Measuring the quality of computer systems development
Authors: Peskin Myron I. , Hart James J.
Published: April 2007

Much has been written about quality in manufacturing environments, less has been written about quality in service environments, and little, if anything, has been written about quality in the specific computer systems development environment. Explores quality in such an environment. Identifies three major undefined issues which hinder the progress of quality in computer systems development: a definition of quality and quality management within a computer‐oriented service environment; agreement on a scope for computer systems that is subject to quality management; and a definition of a methodology which can be used to measure quality within a computer environment. Aims to explore these three issues, offer recommendations for resolving the issues and suggest methods and tools for the measurement and control of computer systems development quality. In this regard, identifies 13 key factors for measuring systems development quality, but also acknowledges that additional key factors might be identified by others and added to this listing. Also identifies the various basic quality metrics, both attributes and variables, which can be applied to each of the 13 key factors in order to assure that the final computer system, as developed, will be a “quality” computer system encompassing all of the end‐user’s requirements, wants and needs. Presents various methods and tools for the measurement and control of the 13 key factors to assure the quality development of a computer system.
The Employment Service benchmarking study
Authors: Parker Nick
Published: April 2007

This article describes the Employment Service approach to the use of benchmarking as a tool by looking at how it was used to improve a key human resource area ‐ internal vacancy filling. It covers: leadership ‐ why we decided to use benchmarking as a performance improvement tool and high level sponsorship of the project; methods ‐ the process benchmarking approach used ‐ internal, industry and generic; and results, business, customer satisfaction and organisational learning. The article concludes that benchmarking can be effectively applied in the area of human resources and can lead to significant improvements in performance. It shows how the benchmarking approach leads to individual, team and organisational learning.
Optimal timing of a real estate development under uncertainty
Authors: Foo Sing Tien
Published: April 2007

This paper recasts the land development problems of Williams (1991) and Quigg (1993) by explicitly dealing with the effects of scale elasticity of unit rental and unit construction cost in a real estate project. Two different diseconomies of scale constraints are imposed on the rental and cost variables. We assume a concave function for the rental variable with respect to the scale of development. Whereas, on the cost side, the diseconomies of scale effect of the variable component of the construction cost is incorporated via a elasticity of scale factor that is larger than unity. The comparative statics simulated positive relationships between the premium that keeps the option of waiting to develop alive and the volatilities of the unit rental and unit construction cost. It was also found that the cost elasticity of scale and the financing cost are factors that increase the premium of the waiting option, whereas, the rental yield factor reduces the incentive of waiting. A high rental yield tends to expedite a development project because the opportunity cost of not developing the land is high. In the case analysis involving a vacant land of 8,000 square meters at Spitafield, East London, a unit rental of £267.2 per square meter (psm) is obtained, which would breakeven a cash flows of the project when the traditional “invest now or never” assumption is made. Compared with the optimal unit rental of £677.0 psm estimated by the real option model, the traditional DCF results tend to accept the feasibility of the real estate project too early and at too low a cut‐off rental.
The long‐term investment performance of Singapore real estate and property stocks
Authors: Hiang Liow Kim
Published: April 2007

Examines the investment performance of Singapore real estate and property stocks over the past 25 years. Evaluations using coefficient of variation (CV), Sharpe index (SI) and time‐varying Jensen abnormal return index (JI) suggest that real estate outperformed property stocks on a risk‐adjusted basis. Results also indicate that risk‐adjusted investment performance for residential properties remained superior to performance for other real estate types and property stocks. Further analysis using time‐varying JI reveals that the excess return performance of property stocks could differ significantly from that of direct properties, and performance of property stock led real estate market performance. Finally, the performance implications arising from the study are evaluated.
Property and Ptolemy, Copernicus and commerce
Authors: Roulac Stephen E.
Published: April 2007

Today, every enterprise, investor and household with property involvements is functionally involved in the international real estate markets, by virtue of the influence that global forces and participants in the multiple segments of the real estate markets have on local spatial patterns and therefore the demand for, and supply of, property goods and services. Property involvements for many reflect a Ptolemaic view of the universe, proceeding from the premise that the particular property is the focus and locus of concern, with other forces, factors and properties metaphorically rotating around the particular local property. A Copernican concept of commerce, by contrast, proceeds with the premise that property involvements follow from consideration of the dynamic interdependent interaction and implications of ideas, initiatives, and involvements, from multiple regions and perspectives. Even though involved in multiple markets with offices throughout the world, many employ multiple local insular strategies, being guided more by a Ptolemaic than Copernican perspective. With a strategic perspective for global property involvements, no longer is the operative paradigm built on the primacy of focus on the single local property.
The future of e‐money: an international review of policy and regulatory issues
Authors: Andrieu Michel
Published: April 2007

This is the second part of a two‐part paper on the future of electronic payments. Part 1, which was published in the last issue of this journal, examined the various electronic forms of payment that are likely to emerge in the future, and considered some of the main technological and economic factors that will shape this evolution. This second part focuses on major regulatory and institutional issues that will influence the wider acceptance of electronic payment.
Dreaming reality: a map for seeing the future
Authors: Robinson Emma
Published: April 2007

This paper attempts to provide a number of strategic reference points for individuals and organizations seeking a clearer view of the future. These reference points plot a course that starts with the surfacing of underlying philosophies and ends with the melding of foresight with strategy. Underpinning these reference points is the belief in achieving balance between our understanding of “the inner self” and external drivers of change. This paper draws together a number of well‐developed theories and concepts as a way of linking both insight and practice.
The impact of e‐commerce on the value chain
Authors: Desruelle Paul , Burgelman Jean‐Claude
Published: April 2007

Presents a view of the forecast impact of e‐commerce on developments of value chains in several economic sectors, with a time horizon of 2005. Highlights the scenarios that were built and demonstrates that the impact of e‐commerce technologies on value chains may vary widely across firms and sectors, as a function of sector‐specific characteristics. Concludes that the impact of e‐commerce technologies and practices on firms in the current decade may be expected to be of the same magnitude as the impact of management techniques such as just‐in‐time, or total quality management, in the 1990s.
Strategic implications of “get serious” online technologies
Authors: Pumphrey Stephen
Published: April 2007

Illuminates a selection of technologies that will enhance the interactions between companies and consumers, revealing some strategic ramifications of these developments across a range of sectors. Concludes that strategists should exploit the emerging business environment driven by technologies that enhance the online experience for customers and other stakeholders.
Telecommunications in times of crisis: reflections on September 11
Authors: Noll A. Michael
Published: April 2007

Looks at how different, alternative, forms of communication helped cope with the September 11 crisis in the most tragic of times. States if there is any real lesson to be learned from the tragedy, in terms of telecommunications – it is true, in terms of crisis that many forms of alternative communication are of great benefit.
The process of establishing a BPR paradigm
Authors: Towill Denis R.
Published: April 2007

This paper describes a conceptual model of the process by which a “fad” makes the important transition to “paradigm”. It is a distinctive contribution to management theory whereby transferable principles are evaluated as a set of business paradigms. The heart of the transformation process is a generic systems model which provides the infrastructure linking the various sources of evidence. This includes horizontal market sector performance surveys; vertical in‐depth industrial case studies; influence diagram linking management actions to bottom‐line improvements; and consultancy rules of thumb. The approach is illustrated via application to the Total Cycle Time Compression paradigm.
Clinical risk – minimising harm in practical procedures and use of equipment
Authors: Cowan Jane
Published: April 2007

The article discusses some of the clinical negligence problems and risk management issues arising from training of health professionals (predominantly junior hospital doctors) in practical procedures. There continue to be incidents, claims and complaints in the NHS arising from the clinical practice of doctors or other health professionals who are not perceived to be competent in some of the practical skills they are undertaking. This article addresses some aspects of this training, where it should best be started and who should have responsibility for ensuring that doctors, in particular, continue to work under appropriate supervision. Also acknowledges the current problems facing NHS trusts in trying to ensure that risk management standards are met for training health professionals in the use of medical equipment – a task that has not previously needed to be documented or accounted for on a formal basis. There are considerable resource implications attached to the introduction of systems that can assess and monitor the training provided in the use of medical equipment but the introduction of a baseline assessment is an essential part of sound clinical governance and risk management. It is suggested that risk management exercises of this nature are worthwhile in reducing the potential for harm to patients.
Education for clinical governance
Authors: Bayliss Peter , Hill Peter , Calman Kenneth , Hamilton John
Published: April 2007

For the modernisation of the NHS and successful implementation of clinical governance there must be a new curriculum, with new educational goals for the education of clinicians, managers and consumers. Whilst many elements to that end have been introduced in recent years, a missing element is the study of the system of health care as a system, its properties and risks. The study of safety of and adverse outcomes from error in the “Quality of Australian health care”, highlighted not only preventable error in individual clinical decision and actions, but more importantly the hidden flaws, the latent errors within the system of health care that can lead to such errors. The study of system error in health care is greatly enhanced by the experience of comparable studies of safety in industry. These issues are explored in postgraduate vocational education and training. Perhaps they should be core curriculum for all undergraduate health profession and management education.
Suspected deep vein thrombosis: is one scan enough?
Authors: Robinson B.J. , Kesteven P.J. , Elliott S.T.
Published: April 2007

Describes a prospective study to establish the clinical outcome of patients who had undergone Doppler ultrasound for symptomatic suspected deep vein thrombosis, focusing on 142 consecutive patients referred for ultrasound investigation of their leg symptoms. Outcome measures included presence or absence of thrombus on ultrasound; re‐admission or outpatient investigations post ultrasound; and mortality at one year. Concludes that no patient with a negative Doppler ultrasound examination subsequently developed a thrombus in the following year although 18.8 per cent had died. Suggests that patients with leg symptoms of venous thrombosis but negative ultrasound should be followed up closely because of the likelihood of underlying pathology.
Attitudes and use of complementary and alternative medicine by California family physicians
Authors: Amster Michael A. , Cogert Greg , Lie Desiree A. , Scherger Joseph E.
Published: April 2007

This paper examines the attitudes and use of complementary and alternative medicine (CAM) by family physicians. A questionnaire was completed by 234 participants at the 1998 California Academy of Family Physicians Annual Scientific Assembly to analyze the recommendation, administration, and attitudes towards CAM by family physicians. This study indicates a large percent of California family physicians recommend and administer CAM to their patients. In addition, the results illustrate the importance of incorporating knowledge of CAM into medical education and the essential role family physicians play in the integration of conventional and CAM therapies.
Sections, categories and keywords as interest specification tools for personalised news services
Authors: Díaz Alberto , Gervás Pablo , García Antonio , Chacón Inmaculada
Published: April 2007

Through an evaluation of system performance and user satisfaction for the Mercurio system, considers the general applicability and usefulness of different methods of specifying user interest for the general case of digital news services. Outlines the specific characteristics distinguishing such systems from more general information systems and discusses their effect. Proposes an evaluation blueprint for them starting from information retrieval procedures, existing work on search engine evaluation, and a close study of the working principles and the required evaluation according to the particular properties and conditions of the services under consideration. Presents and discusses actual evaluation results for system tests based both on real users and customised test cases. Conclusions cover the nature of the information handling tasks that digital news services are faced with, the relative merits of sections, categories and keywords with respect to this particular set of tasks, and the risks of careless application of recall and precision measures in systems such as these.
How the OCLC CORC service is helping weave libraries into the Web
Authors: Covert Kay
Published: April 2007

Powerful results can be achieved when librarians combine their knowledge access skills with the OCLC (Online Computer Library Centre) CORC (Cooperative Online Resource Catalogue) service. As a state‐of‐the‐art Web‐based metadata creation system, CORC is optimised for creating bibliographic records and pathfinders (subject bibliographies) for electronic resources. CORC has evolved from an idea in OCLC’s Office of Research through system development, to a core OCLC product offering in less than two years. As CORC use steadily increases worldwide, librarians continually find innovative ways to incorporate the service into their library workflow. Details about the OCLC CORC service, and examples of how three libraries are using CORC, are given. This is just the beginning for this cornerstone of OCLC’s strategic plan.
The yin and yang of intellectual capital management
Authors: Williams Ruth L. , Bukowitz Wendi R.
Published: April 2007

This paper will explore the emerging trend of business methods patenting by posing the following question: “Is the growing emphasis on asserting ownership over some forms of intellectual capital inimical to the organization’s ability to realize value from innovation?”. The legal landscape for patenting in both the USA and Europe will be reviewed, focusing on how the law has expanded protection over time to include intangibles such as business methods and software. The authors will depict how awareness of these changes has made its way into the general business discussion, examining arguments for and against business methods patenting from both a public policy and a business perspective. They will then explore how the emerging requirements for fast‐paced innovation may impact an organization’s decision to pursue an aggressive patenting strategy. Finally, the authors will outline a set of considerations for organizations considering the plunge into business methods patenting.
How to build a high‐performance facility management organisation
Authors: Lloyd Jim
Published: April 2007

As people work through their daily lives, they interact with a variety of organisations. Some of those interactions are successful, and others are dreadful. And managers of organisations tend to look at their own organisational successes and failures and hope that the successes outnumber the failures. Managers observe that most of the successes come from the highest performing employees, and the failures tend to emanate from the worst performers. So, they try to encourage the worst performers to ‘become better team players’ or ‘be more sensitive to the customer's needs’, and hope that they eventually ‘get it’. Some will, and most will not. And then one day, a manager interacts with an organisation that ‘goes the extra mile’ and provides a great service or product, and he/she fantasises about what it is that makes this organisation successful, while his/hers is marginal at best. The answer to this question is actually quite simple, but to fix the problems can be time consuming and painful. The single quality that highly successful organisations all have in common is that they have an organisational culture which values leadership. They have achieved what few organisations have achieved: they have become a ‘Leadership Organisation’ (an organisation that has leaders at all levels of the organisational chart). Once an organisation has achieved this level of leadership, overall organisational success is easily achievable. This paper is intended to give managers a basic framework on how they can turn their organisations into high‐performing successes. Managers' ability to achieve this success can be limited by the legal process, the company's employment practices and culture, and their own willingness to make radical changes to their organisation. Once a manager has achieved building a Leadership Organisation, however, the rewards of success are well worth the effort.
Introducing mentoring to doctors
Authors: Doherty Caroline
Published: April 2007

The concept of mentoring (or indeed providing any support with personal and professional development) for doctors in the UK’s National Health Service (NHS) is still relatively new. The majority of practicing doctors have been educated and trained using very traditional models of lectures, exams and apprenticeship. They made their career decisions and career plans relatively young in life and they were expected to stick to them throughout their working life.
Learning interventions
Authors: Sloman Martyn , Al Dowayan Maram
Published: April 2007

Short projects are often the most illuminating. This article seeks to draw some lessons from a simple research project. The methods used in the research are easily understood; the conclusion will cause no surprise to any human resource development professional. What is important is to expose some of the implications. They are far‐reaching and challenge many of our traditional approaches to implementing human resource development in organizations.
Slow learning: getting away from the quick fix
Authors: Gimson Anne
Published: April 2007

Purpose

The paper shows the need to get beyond short‐term thinking in approaching learning and development issues.

Design/methodology/approach

The paper is based on experience in learning processes in organizations.

Findings

Learning and development cannot be just based on bite‐sized training and other short‐term processes.

Practical implications

Organizations need to consider the implications of their choices for learning interventions.

Originality/value

The paper challenges much thinking in organizations and exposes the weaknesses of much training activity.
ERISA and hedge funds
Authors: Lins Gerald T.
Published: April 2007

The Employee Retirement Income Security Act of 1974 (“ERISA”) is a complex piece of legislation dealing with the establishment, operation, and administration of employee benefit plans. The U.S. Department of Labor (“DOL”) is the federal agency primarily responsible for administering and enforcing ERISA. ERISA is designed to protect plan beneficiaries and participants from problems and abuses such as unfunded plans, excessively difficult vesting provisions, or misuse of plan assets by parties related to the plan. ERISA seeks to achieve its purposes by imposing, among other things, numerous obligations on fiduciaries as well as by prohibiting many transactions that can raise conflict of interest issues (so‐called “prohibited transactions”). In corresponding provisions, the Internal Revenue Code of 1986 imposes taxes and penalties for these prohibited transactions.
Soft dollars: A hot‐button issue ripe for reform
Authors: Porter Alan C. , Rosenberger Francine J.
Published: April 2007

In this time of heightened regulatory attention to potential conflicts of interest and the transparency of transaction costs in buying and selling portfolio securities, soft dollar practices have come under intense scrutiny. Regulators are asking whether the use of soft dollars should be eliminated, while some in the investment management industry have begun to restrict their own practices or even voluntarily discontinue them. What should you be doing now? Should you be evaluating your soft dollar arrangements? Do you have effective soft dollar policies and procedures in place to maintain compliance with applicable regulatory requirements? Who are the primary beneficiaries of your soft dollar arrangements? This article outlines the background and regulatory considerations applicable to soft dollar arrangements, and discusses the issues money management firms should consider in reviewing their soft dollar practices.
When hindsight is 20/20: Five key questions to ask at the start of an internal investigation
Authors: Codon Dennis , Laitinen Sari K.M. , Vaccaro Karin L. , Todd Jones B
Published: April 2007

Increasingly, allegations of significant corporate wrongdoing and inquiries from governmental agencies result in companies initiating internal investigations as a practical tool to find out whether there was wrong doing, what happened, and how to prevent it from happening again. This article discusses five essential questions that a company must address when it is faced with a decision on whether to conduct an internal investigation. Do I have to investigate? Who should lead the investigation? How soon can the investigation be completed? What do I need to do to keep the information confidential? And finally, do I have to disclose this to the public.
Responsibilities of principal executive officers under the Sarbanes‐Oxley Act of 2002: A compliance checklist
Authors: Fischer David C.
Published: April 2007

The Sarbanes‐Oxley Act outlawed some of the worst practices of the failed companies, and imposed significant changes in accounting and auditing rules, as well as oversight of public accounting. This article contains a checklist that is intended to provide principal executive, financial and accounting officers with a catalog of and brief commentary on new or amended rules that may require changes in procedures or duties within their respective areas of responsibility. The checklist covers certification requirements, reports on disclosure and financial controls, financial reporting, requirements relating to audit committees, relations with the auditor, and management conduct.
Preventing computer fraud means outwitting a horde of hackers, crackers, spoofers, and sniffers
Authors: Hanna Greg
Published: April 2007

Hackers and crackers are constantly surfing the Web looking for vulnerable systems. But the most dangerous hackers are the enemies within. The amount that a company should invest in system security depends on its level of risk. To see how much is at risk, a company should create fraud and theft scenarios and then develop a security system that will hold potential losses to an acceptable level. Guarding the perimeter requires setting up firewalls, selecting effective passwords for authentication, and using anti‐virus and anti‐spamming systems. Companies today are using VPN (virtual private network) access points and server‐locking software to prevent unauthorized system access.
The great soft dollar debate
Authors: Tittsworth David G. , Edelstein Geoffrey I.
Published: April 2007

The Securities and Exchange Commission (SEC) has defined “soft dollar” practices as arrangements under which products or services, other than execution of securities transactions, are obtained by an investment adviser from or through a broker‐dealer in exchange for the direction by the adviser of client brokerage transactions to the broker‐dealer. In the wake of the mutual fund scandals of 2003, soft dollar practices have come under increased scrutiny by the SEC, the U.S. Congress, and others. This article is based on testimony presented by the Investment Counsel Association of America (ICAA) to the U.S. Senate Committee on Banking, Housing, and Urban Affairs at a hearing on soft dollars held on March 31, 2004. The article outlines the following positions: (1) the SEC should ensure that there is adequate disclosure about soft dollar practices, combined with appropriate inspection and enforcement of regulations governing such practices; (2) the consequences of abolishing soft dollars ‐ an outcome that would require Congressional action ‐ most likely would affect smaller investment advisory firms adversely, create entry barriers for new investment advisory firms, and diminish the quality and availability of proprietary and third‐party research; (3) investment advisers should be required to keep appropriate records relating to soft dollar arrangements and to develop and implement internal controls and procedures designed to ensure that soft dollar arrangements are supervised, controlled, and monitored; and (4) eliminating the use of soft dollars for third‐party research would harm investors, diminish the availability of quality research, provide a regulatory‐driven advantage for full‐service brokerage firms, disadvantage third‐party research providers, and result in less transparency to investors, regulators, and market participants.
A regulatory analysis of cross trading and order aggregation
Authors: Zordani Jennifer
Published: April 2007

Two potentially troublesome, but commonly accepted, trading practices that are addressed in comprehensive compliance programs are cross trading and order aggregation. Cross trading occurs when an adviser or its affiliated broker, acting as a principal, engages in a transaction with a client. An agency cross trade occurs when an adviser or its affiliated broker, acting as agent, arranges a transaction between two clients. In either a principal cross trade or an agency cross trade, a given client is at risk that another party (either the adviser or another client) is being, or will be, favored over that client. Order aggregation, also known as bunching, batching, or trade aggregation, refers to the practice of combining orders for execution. When an adviser must select a client’s and possibly advisory personnel’s orders that will be aggregated and allocate the execution prices among those orders, a given client is at risk that another party (either another client or advisory personnel) is being, or will be, favored over that client. The existing regulatory frameworks for cross trades and bunching address potential conflicts of interest, but they do not, and cannot, anticipate every situation that may present conflicts or influence execution decisions. As a result, compliance personnel must look beyond the regulatory framework and remain attentive to market and other factors that influence execution decisions within the firm.
How much (and how conflicted) is that portfolio manager in the window? Implications of the SEC proposed rule on enhanced portfolio management disclosure for registered investment companies
Authors: Hartmann James A.
Published: April 2007

There has been tremendous focus by the U.S. Securities and Exchange Commission (“SEC”) and by other parties, such as the New York Attorney General, on investment advisory fees levied by mutual funds as well as conflicts of interest between portfolio managers and their various types of clients. Sometimes these debates have ended up in Congress where the implied threat to the SEC was “if you don’t act we will.” And some of the congressional proposals, if enacted, would have created far‐reaching consequences for both investors and investment companies by proscribing certain conflicts. The SEC, on the other hand, has used sunlight principally as its preferred antiseptic. Increased disclosure requirements over a variety of activities has been the norm in the its recently adopted rules and regulations. The Commission has proposed amendments to Forms N1‐A, N‐2, N‐3 and N‐CSR calling for enhanced disclosure regarding the three C’s: compensation, composition of the management team, and conflicts of interest.
Supervisory controls
Authors: Lavell Joan L.
Published: April 2007

The focus on supervision began in the 80’s when the insider trading scandal resulted in visions of Wall Street investment bankers in handcuffs being led away from their offices. The New York Stock Exchange was on the hot seat for perceived failings. The 90s were dominated by the “price‐fixing” scandal in the over‐the‐counter markets, with OTC traders and the NASD sharing the limelight. Then there were mutual fund late trading, research, variable annuities, 529 college savings plans, etc., Now a branch manager in Cleveland, Ohio has precipitated a new wave of supervisory rules.
Making the most of an internal investigation
Authors: Yormark Ken
Published: April 2007

The warning signs may come from a number of sources‐a tip from an employee, complaints from customers and vendors, or troubling facts that surfaced in your company financial analysis or audit. The issue is not whether to conduct an internal investigation, but how. As a CPA and a certified fraud examiner, I have been involved in hundreds of investigations of all degrees of size and complexity. Going in, my mission is not only to resolve the issue quickly and efficiently, but also to make the investigation work to the maximum advantage of the company. Properly planned and conducted, an internal investigation can reveal much more than who, what, when, where, why, and how much? It can offer opportunities to strengthen the business for the future. It starts with knowing what you want to accomplish.
Regulation of market misconduct in the United Kingdom
Authors: Falkner Robert , Gerty Jon
Published: April 2007

Purpose

To introduce and summarize the key features of market‐misconduct‐related offenses in the UK with a particular focus on insider dealing.

Design/methodology/approach

Provides a detailed overview of: the market abuse regime of the UK's financial regulator, the Financial Services Authority (FSA),which implements the EC Market Abuse Directive; other regulatory powers used by the FSA in cases of market misconduct; and relevant criminal law offenses.

Findings

The FSA is given a broad range of powers that enable it to bring criminal or regulatory proceedings in the UK for market misconduct. The FSA's powers have thus far been used primarily within the regulatory framework, but the FSA has said that it will be prepared to pursue certain cases through the criminal courts where behavior justifies criminal rather than regulatory action. Although the two regimes are similar, there are some differences and both regimes must therefore be considered when analyzing compliance requirements or whether market misconduct has occurred.

Originality/value

This paper is an important reference for publicly traded issuers, those who recommend investments or investment strategies, and their advisors where any investment activity is carried on with the UK or involves UK markets.
Adviser recordkeeping requirements
Authors: McGuire W. John
Published: April 2007

Purpose

The purpose of this paper is to summarize record‐keeping requirements for Securities and Exchange Commission (SEC)‐registered advisers of private investment companies, especially hedge funds.

Design/methodology/approach

Summarizes the important record‐keeping provisions of Rule 204‐2 under the Investment Advisers Act of 1940 (the Advisers Act) in categories including accounting records; records of orders to purchase and sell securities; written communications; documents supporting performance information; lists of discretionary accounts; powers of attorney; written contracts; codes of ethics; personal securities transactions; disclosure documents; client solicitation agreements; written policies and procedures; records for advisers with custody; investment supervisory or management services; proxy voting records; coded designation for certain clients; the time, place, and manner for retention of records; records for advisers exiting the business; duplicate records; records for nonresident advisers; records for advisers previously registered with a state; and hedge fund records.

Findings

Pursuant to new Rule 203(b)(3)‐2 under the Investment Advisers Act of 1940 (“Advisers Act”), most advisers of private investment companies, especially hedge funds, will be required to register with the SEC as investment advisers. Registered investment advisers must comply with the rules and regulations of the Advisers Act, including the recordkeeping requirements of Rule 204‐2 under the Advisers Act. Although the subject of recordkeeping is perhaps unexciting, recordkeeping is a key area of regulatory focus for the SEC and its examiners, particularly as they seek to gauge the adequacy of adviser compliance and internal controls.

Originality/value

A useful summary of record‐keeping requirements for hedge funds and other private investment companies.
New directions: revolutionizing learning in the baking industry
Authors: Davis Paul
Published: April 2007

Bakers have a demanding, very “hands‐on” job. Persuading them to attend college for training and to acquire qualifications is not easy. This paper outlines the problems and shows steps taken by one particular Australian franchise baking operation to address these problems. Suggests that there are relatively simple steps that can be taken to ensure that the needs of the franchisor, the franchisees, the colleges and the bakers themselves can be met simultaneously.
ATM finds an application
Authors: Lynch John
Published: April 2007

ATM is the coming network technology. We keep being told so –
by suppliers of ATM equipment! It is true that ATM offers the potential
of huge bandwidth but the question is Is now the time to change?
After all, the ATM standards have not all been ratified and all
suppliers have an element of proprietary technology in their kit. Thus
asynchronous transfer mode (ATM) is an emerging rather than an existing
technology. It would be useful to see some ATM networks in use, not just
on paper. Well, now not only is the technology emerging, but
applications too.
A state government which costs less and achieves results
Authors: Hadley Nancy L.
Published: April 2007

Three years ago, a small group of Connecticut state agency leaders
got excited about the possibility of reinventing government in the image
of businesses which were pursuing quality management. The leadership of
these agencies believed that the existing pressures of the time demanded
changes in the way government does business. A crippling recession, a
budget deficit, threatened lay‐offs of state employees, and increasingly
higher customer expectations called for radical change, and a number of
agencies rose to the challenge.
What are brands for?
Authors: Dammler Axel , Barlovic Ingo , Clausnitzer Christian
Published: April 2007

Examines why children choose certain brands over others. Relates this to the fact that desirable brands appeal to our needs, so that successful brands address children’s needs. Shows how children seek a balance between learning new things (exploration) and relying on a socially and emotionally stable home life (home), and also a balance between independence (intrinsic) and integration into family and peer group (extrinsic). Constructs a fourfold classification of children’s need states, based on these two oppositions, which will help in effective marketing of children’s products. Discusses these four states: Emotional Home, Social Home, Self‐improvement, and Re‐definition. Applies the four states to popular characters in children’s television, respectively Winnie the Pooh, Lizzie McGuire, Sabrina the Teenage Witch, and Harry Potter, while Tom & Jerry changes its appeal over time. Illustrates how a product like the mobile phone can be marketed to appeal to each of the four states, and gives general rules for developing brand strategies based on the four need state segments.
Children’s trends in Europe
Authors: Clarke Barbie
Published: April 2007

Surveys the children’s market in Europe, finding that there is a general similarity in child behaviour between countries. Focuses on children’s use of technology, finding that they have high levels of creativity in anticipating designs of products like mobile phones. Moves on to the high levels of technology in children’s bedrooms, finding that, overall, 20 per cent of children between five and 12 own a mobile phone, 36 per cent have games machines, and 44 per cent have a TV set; the UK shows highest ownership of all three, but Spain has the highest level (39 per cent) of computer ownership and the highest (21 per cent) of Internet access, and Germany has the highest level (18 per cent) of DVD player ownership. Monitors what is “hot” for three to eight‐year‐olds and for tweenagers (eight to 12 years): the former show high uniformity between countries, since they see the same TV channels; Tamagotchi and Neopets remain popular, but pink “girlie” style Barbie dolls are less popular now. Judges that the latter, tweenage group, are difficult to market to, as they fall between children and teenage worlds, but that their technology‐filled bedrooms are important to them.
Influences on consumer socialisation
Authors: Neeley Sabrina
Published: April 2007

Describes research on the processes and outcomes of consumer socialisation; it investigates the importance of the family as the main socialisation agent for young children. Shows how parents influence child behaviour directly through instruction in consumer skills, indirectly as models of consumer behaviour, and by supervision of the child’s consumer opportunities; also by influencing cognitive abilities, motivating the child to use its cognitive abilities in consumer situations, and teaching consumer skills which are unrelated to cognitive ability. Relates changes in US family demographic patterns to children as consumers: more single‐parent families and working mothers may mean less contact and socialisation of children by parents, while greater ethnic diversity and mixed‐race families affects the way that children are socialised. Test four hypotheses: that parents of younger children engage in less direct instruction of consumer behaviours than parents of older children; that parents engage in more direct consumer instruction, co‐shopping and co‐viewing with daughters than with sons; that more highly educated parents engage in more direct consumer instruction, co‐shopping and co‐viewing than do parents with lower levels of education; and that ethnicity is a factor in parental consumer instruction, co‐shopping and co‐viewing. Discusses the results of the survey questionnaire used for this US study of parents with children between two and eight years old; the results roughly confirm the first three of these four hypotheses.
The stay at home generation
Authors: Rolfe Julian
Published: April 2007

Reports on the recent study “The Stay at Home Generation” from Vegas, the youth market research division of Synovate; it is based on in‐depth interviews with young adults in the UK, the USA and Canada. Outlines results from the Survey of English Housing which show that no fewer than 58 per cent of Englishmen aged 20‐24 live at home with their parents, as do 42 per cent of Englishwomen the same age, while 6.8 million people aged over 18 live at home and include working‐class youth, students and ex‐students alike. Discounts the explanation for this that young people cannot afford their own homes. Points out instead that the average number of children per female has fallen to 1.5, and that the divorce rate has increased: these changes, which are producing “beanpole” families in place of the traditional family tree, encourage parents to devote far more attention to their children and to create home environments that are hard to leave. Concludes that, as a result, today’s young people are much less mature and independent than the previous generation, and less rebellious also; parents now aspire to be their children’s best friends and opinion formers, and are likely to be involved in their children’s purchases.
Brand expectations of US youth
Authors: Passikoff Robert
Published: April 2007

Introduces the Brand Keys Customer Loyalty Index, which assesses customers’ needs, values and brand perceptions in 35 industries, covering 222 brands; this information is related to the loyalty drivers for that industry, which describe how a consumer views the competing offerings in that industry. Explains how the Index identifies the level of customer expectations, which determines how they compare competing brands. Illustrates the method with graphs showing expectations for athletic footwear, bottled water, computers, DVD players, mobile phones, online books and music, quick‐serve food, satellite radio, and wireless service providers; these show that young people from 16 to 20 have higher expectations than the US population for all categories.
Initiatives in responsible food advertising
Authors: Preston Jeremy , Paterson Martin
Published: April 2007

Introduces the Food Advertising Unit (FAU), a coalition of multinational food companies, advertising agencies and the broadcast media which operates under the auspices of the Advertising Association as a centre for information and research on advertising for children; and the Food and Drink Federation (FDF) which represents the UK food and soft drinks industry. Reports research on the effect of television advertising of food products on children which suggests that there is only a slight direct effect, but the November 2005 White Paper is prioritising new restrictions on food and soft drink advertising to children, and the industry accepts the need for advertising code changes and for a holistic approach to behavioural change through education. Describes the work of the Food and Soft Drink Advertising and Promotions Forum, led by the Department of Health. Outlines positive approaches under way by individual companies such as Turner Broadcasting as well as by public service broadcasting. Argues that there must be proportionality in new government restrictions, given that their positive effects on children’s health may be far smaller than their adverse effects on the industry.
Gaming as an education tool
Authors: Hilton Robin
Published: April 2007

Explains why simple online games are a valuable learning tool, especially for experiential learning, problem solving and interrelationships, where subject matter is abstract. Points out that the aims of interactive and visual teaching techniques must be clear to ensure they add value by improving a child’s knowledge acquisition more effectively than traditional teaching methods. Describes Dubit’s development of new areas of interaction for non‐linear learning in particular: examples are the recent Nintendogs campaign, the CityZones resource for the UK Citizenship curriculum programme, and a mind‐mapping exercise to produce a multilevel network diagram that would relate to black teenagers’ needs on the British Museum website.
Teenage sex at the margins
Authors: Cohen Jon
Published: April 2007

Reports research into the sexual behaviour of UK teenagers at the margins of society, the project was a response to the Social Exclusion Unit’s brief to reduce the rate of teenage conceptions and to move teenage parents into education, training or employment. Focuses on the issues of recruiting teenagers for interview, methodology, and building trusting two‐way relationships with them so that sensitive subjects like condom use could be discussed. Characterises these teenage parents and their social status, and compares the UK with the rest of Europe: the former has a simultaneously puritanical and prurient culture. Finds that pairs of friends provided an open and honest environment for research, while journals and cameras provided to the teenage respondents were an essential part of the project. Finds that for them sex is often spontaneous, accompanied by alcohol, and invariably unprotected.
Youth, new media, technology and communication
Authors: Rolfe Julian , Gilbert Mischa
Published: April 2007

Purpose

To understand the nature of young people’s relationship with technology and to endeavour to explode a few myths about their affection for it.

Design/methodology/approach

The research took four stages; desk research; interviews with four experts; quant through Synovate’s online panel; qual research groups.

Findings

It was found that the majority of young people do not love technology – they love communication and entertainment, and technology is just the facilitator for these; it was also found that a surprisingly large number of young people dislike and actively avoid using technology, particularly those from lower SEGs.

Originality/value

Marketers always presume that young people are very plugged into technology and that they all love it. This article shows this is clearly not the case and the amount of affection and time they spend using information technology has been overstated.