bluuebunny/crossref_metadata_2025 huggingface dataset:
As fraud schemes proliferate – are you the next investor to crash and burn?
Authors: Evola Ken , O'Grady Nicole
Published: June 2009

Purpose

The purpose of this paper is to educate investors on the red flags of Ponzi and other fraud schemes and due diligence measures.

Design/methodology/approach

The paper examines ways in which fraud is executed in Ponzi schemes and then highlights practical precautions every investor should take to prevent being a victim.

Findings

The research outlines specific red flags that the investors in the Madoff Ponzi scheme and other fraud schemes might have recognized and others in the future should recognize to prevent being the next victim. These red flags are consistent in most Ponzi schemes and investors should institute due diligence in examining their investment firm or manager.

Practical implications

Investors should be wary of their investment manager and pay attention to the warning signs that they could be involved in a Ponzi scheme. They should insist on seeing detailed audit information and not hesitate to ask questions.

Originality/value

The paper will be of interest to a wide range of individual and institutional players in the investment community who in light of recent events are concerned about being investment fraud victims.
Tax consequences for investors in hedge fund frauds
Authors: Lorence Roger D.
Published: June 2009

Purpose

The purpose of this paper is to consider the appropriate Internal Revenue Service (IRS) tax filings for individual and fund‐of‐fund (FOF) investors who have incurred losses from hedge fund fraud.

Design/methodology/approach

The paper describes the types of losses investors have suffered; explains the types of relief the IRS provides; recommends the steps investors should take in filing claims; discusses special issues for FOFs, recoveries from the Securities Industry Protection Corp. (SIPC), treatment of litigation expenses, and recent IRS guidance; and provides a sample tax‐claim calculation.

Findings

For defrauded investors, two types of relief may be available: filing a tax return for the taxable year in which the fraud is discovered to claim an ordinary loss from theft for the entire adjusted basis in the fraudulent investment; and filing for refunds of tax erroneously paid in prior years on income fictitiously reported by the Ponzi scheme.

Originality/value

The paper provides timely guidance from an expert on tax issues related to hedge funds. Readers need to be aware that resolution of many issues discussed here is uncertain and the subject may be characterized as a “moving target”.
Hedge fund information depository: a case study of a pre‐emptive solution to fund manager fraud
Authors: Muhtaseb Majed R.
Published: June 2009

Purpose

The objective of this research is to educate investors and hedge fund industry stakeholders about a hedge fund manager's alarming activities prior to recognition of the fraud by the authorities. The lessons serve as red flags to stakeholders in the hedge fund industry such as prime brokers, auditors, administrators, accountants, custodians and government regulators, and especially investors conducting due diligence on hedge funds. A far‐reaching proposal is for the industry to found a hedge fund information depository (HFID) where participants/stakeholders provide information on any hedge fund on a regular basis. Such an information clearing‐house would facilitate a long overdue timely communication among hedge fund industry constituents. The services would be available for a fee. This service elevates transparency in the hedge fund community to an unprecedented level and could ultimately mitigate a manager's fraud.

Design/methodology/approach

A major hedge fund fraud case, Lancer Management Group, is used an example and application of HFID.

Findings

Investors in the Lancer funds lost more than $500 million. In the case of Lancer, there were several “alerts” or “triggers” many months before the actual filing of the SEC complaint against the fund. Hedge fund manager fraud could be mitigated through the establishment of the information depository. Had the depository been in place, some Lancer funds stakeholders could have made different decisions.

Research limitations/implications

Some hedge fund industry stakeholders may reluctantly join HFID. Researching the willingness of hedge fund industry stakeholders to join HFID would be a good extension of the current research.

Practical implications

Had a third party become aware of the alerts, this third party could have made a different investment decision. Most importantly, this depository would allow all the hedge fund industry stakeholders (accountants, administrators, auditors, marketers, prime brokers, custodians) to contemporaneously communicate with one another.

Originality/value

The approach and the solution are both unique. In addition, the topic is very controversial and timely, yet few business professionals explore research projects on fund manger fraud. HFID would be of great value to hedge fund industry stakeholders, especially investors.
President's working group on financial markets: best practices for the hedge fund industry
Authors: Goldman Richard A. , Leonard Robert C. , Anderson Gray Matthew , Vecchio Steven G.
Published: June 2009

Purpose

The purpose of this paper is to summarize two separate reports on best hedge fund industry practices issued on January 15, 2009 by the Asset Managers' Committee and the Investors' Committee of the President's Working Group on Capital Markets.

Design/methodology/approach

The paper provides a detailed summary of the two reports.

Findings

The Asset Managers' Committee Report sets forth a standard of best practices for the hedge fund industry aimed at reducing systemic risk and fostering investor protection. It recommends that hedge fund managers adopt comprehensive best practices in all aspects of their businesses, including the following five key areas: disclosure; valuation; risk management; trading and business operations; and compliance, conflicts and business practices. The Investors' Committee Report sets forth guidelines intended to “enhance market discipline, mitigate systemic risk, augment regulatory safeguards regarding investor protection, and complement regulatory efforts to enhance market integrity”. The Report provides recommendations to investors for evaluating hedge funds and overseeing hedge fund investments within a portfolio. It is divided into: a Fiduciary's Guide aimed at assisting plan trustees, banks, consultants and others with portfolio oversight responsibilities, in determining whether a hedge fund investment would be suitable for the organization they represent; and an Investor's Guide aimed at providing recommendations to investors who have decided to add hedge funds to their investment portfolio.

Originality/value

The paper provides a concise, informative guide by experienced securities lawyers with hedge fund expertise.
Internal control reporting regulation: a law and economics perspective
Authors: Zolnor Matthew A.
Published: June 2009

Purpose

The purpose of this paper is to analyze the efficiency of the internal control reporting (ICR) requirements imposed by Sections 302 and 404 of the Sarbanes‐Oxley Act of 2002 (SOX). The lessons learned are then applied to the current financial crisis.

Design/methodology/approach

The Coase Theorem is applied to the events leading up to the collapse of Enron and the enactment of SOX. The paper then analyzes the efficacy of the various examples of ICR regulation, both pre‐ and post‐SOX, noting the ways in which they effectively mitigate transaction costs and the ways in which they over‐regulate.

Findings

US investors continue to invest in foreign markets despite the fact that those markets maintain less demanding ICR requirements than those required by Section 404. Moreover, investors do not respond negatively to Section 404 disclosures. The research demonstrates that Section 404 does not provide useful information in the minds of investors. Considering Section 404's ineffectiveness and the burdensome costs it imposes on reporting companies, it is clear that Section 404 is an example of over‐regulation and should be repealed.

Practical implications

The transaction costs that caused the collapse of Enron and the enactment of SOX bear strong similarities to those causing the more recent subprime mortgage crisis. The lessons learned from the enactment of SOX Section 404 are directly applicable to the current financial crisis and should be noted moving forward.

Originality/value

By utilizing a law and economics perspective, the paper more clearly demonstrates how Section 404 is an example of over‐regulation and draws links to the current economic crisis.
Influences of pro‐ all‐inclusive travel decisions
Authors: Anderson Wineaster , Juaneda Catalina , Sastre Francisco
Published: June 2009

Purpose

This paper aims to identify the motivations for choosing all‐inclusive package tours when traveling, and to specify the visitor and travel attributes associated with those motivations.

Design/methodology/approach

A specific visitor‐exit‐survey involving all‐inclusive tourists visiting the Balearic Islands (n=843) was conducted during the summer of 2006 at the Airport of Palma de Mallorca. Then, through discrete choice models‐binary logit, relationships between the identified motivations and specified attributes were analyzed by looking for the attributes that are more associated with each motive.

Findings

The study results show that tourists traveling through all‐inclusive tours attach more importance to the motivations related to convenience and relaxation, economies of resources as well as safety and security in their vacationing processes; with specific tourist and trip attributes influencing the probability for confirmation.

Practical implications

Understanding the motivation of different tourist profiles visiting the destinations is useful in managing the tourism industry for satisfying specific tourist segments without jeopardizing the interests of the host community. A full understanding of all‐inclusive motivation would help travel organizers and marketers to plan, design and deliver products and services that cater for the specific needs of the all‐inclusive market, with the aim of capturing the financial benefits which are the central element of the economy.

Originality/value

There is still little knowledge in the literature about all‐inclusive package tourism. Specifically, the knowledge of tourist motivation with reference to the tour mode choice within the tourism landscape is still diluted, and therefore the motive behind one traveling through certain tour modes like all‐inclusives continues to miss the ground works. Nor have the factors that influence evaluation of the motivations related to the decision of this type of trip have been much studied, which renders this field of study one of the underdeveloped areas in the tourism social sciences. The paper attempts to contribute where there is this lack of knowledge.
The role of tourism organizations in location management: the case of beer tourism in Bavaria
Authors: Pechlaner Harald , Raich Frieda , Fischer Elisabeth
Published: June 2009

Purpose

The purpose of this paper is to discuss the importance of cross‐sectoral co‐operations and the potential role of tourism organizations in an integrated location management system, using the regional governance approach. The coordination between participants and the development of economic dynamics by coordinated networks are important factors determining the competitiveness of locations.

Design/methodology/approach

The paper undertook a qualitative and quantitative survey in Bavaria, which analyzed the role of a tourism organization in the location, using the example of cross‐sectoral interaction with the brewing industry. First, a qualitative explorative study was conducted analyzing the potential cross‐sectoral activities of the tourism organization with the brewery industry in Bavaria, and examined the indicators of power and legitimacy. A further quantitative survey was then carried out to assess the current situation of the cross‐sectoral interaction of the Bavarian tourism organization with the brewery industry and the position of the tourism organization in the location.

Findings

The results show that the role of the tourism organization in cross‐sectoral interactions with other parties in a region where tourism does not play a major role is not strong. It lacks the power to take a leading part in determining a region's attractiveness, and needs to develop its expertise as a cross‐sector intermediary for an integrative location management process. The results indicate potential for improvements in the field of communication and interaction to strengthen the position of the tourism organization.

Practical implications

The study results reveal that the philosophy of cross‐sectoral thinking is not yet strongly developed in the Bavarian tourism organization. It should develop a stronger network‐oriented perspective if it wants to become an intermediary between the local sectors and industries.

Originality/value

Applying the findings of the regional governance theory, the paper demonstrates the potential contribution of tourism organizations as cross‐sector intermediaries for location management processes, so that the various attractions at a location can all profit by working towards a more competitive and attractive location.
Tourism expert perceptions for evaluating climate change impacts on the Euro‐Mediterranean tourism industry
Authors: Valls Josep‐Francesc , Sardá Rafael
Published: June 2009

Purpose

The purpose of this paper is to analyse perceptions among European tourism experts specialising in tourism planning regarding the impact that climate change may have on tourism management.

Design/methodology/approach

The methodology used was the double convergent Delphi Method. A total of 70 European experts in tourism planning were surveyed to determine their opinions. Two focus groups of experts were organised, first to fine‐tune the questionnaire before implementing the Delphi method and, second, to check the results afterwards.

Findings

The most noteworthy findings expressed were: climate change has already begun; life in the forthcoming decades will be subject to constant uncertainty; there is a clear perception of responsibility; there is a reluctance to accept repressive taxation but support for renewable energy incentives; and there is a call for responsible growth based on integrated destination management, public‐private co‐responsibility and the application of mitigation/adaptation measures. Additionally, climate change is already threatening tourist enterprises, and an efficient integrated management system in companies and tourist destinations will be required to cope with its negative effects.

Research limitations/implications

The limits of this research are those inherent in the Delphi method itself, which is highly opinion‐based. To reduce this, the sample was broadened to include 70 interviewees instead of the 30 traditionally used.

Practical implications

The practical implications lie in offering an exploratory vision of climate change from experts' perception; their outlook considerably broadens the field of reflection.

Originality/value

Additionally, the value of the paper is to allow discussion on the perception of experts in tourism planning regarding climate change in the Euro‐Mediterranean region.
How much does performance matter in strategic decision making?
Authors: Elbanna Said , Naguib Rabia
Published: June 2009

Purpose

The purpose of this paper is to explore the influence of two aspects of firm performance: financial and business performance and organizational effectiveness, on three dimensions of the strategic decision‐making process, rationality, intuition, and political behavior.

Design/methodology/approach

The empirical study goes well beyond the common anecdotal observations or reflections on strategic decision‐making by utilizing a mixed‐methods approach. Based on a multi‐method field study, 286 Egyptian managers who participate in making strategic decisions are surveyed; and 36 semi‐structured interviews are conducted.

Findings

The results suggest that strategic decision‐making in high‐performing firms is more rational and less intuitive and political. Interestingly, they also show that organizational effectiveness is a stronger predictor of strategic decision‐making process dimensions than of financial and business performance.

Research limitations/implications

In Egypt, a widespread suspicion of academic research adds to the frequent difficulty of obtaining completed questionnaires from more than one senior manager in a company. Moreover, because of the difficulty of collecting objective financial data, subjective measures are used to gauge performance. Further research should test the generalizability of our results in narrowly defined samples, e.g. the banking industry or the automotive industry.

Practical implications

The results highlight the importance of performance in strategic decision making and seem to support the “culture free” argument advancing the position that cultural differences may not have a significant impact on the influence of performance on the strategic decision‐making process.

Originality/value

Although scholars have posited organizational performance as an important contextual variable influencing the process of strategic decision making, this influence is not well understood or articulated, especially in the Egyptian setting. This paper contributes to filling this gap.
Educating the supply chain logistics for humanitarian efforts in Africa: a case study
Authors: Kumar Sameer , Niedan‐Olsen Kristin , Peterson Lynn
Published: June 2009

Purpose

There are gaps in the countries of Africa between basic universal health care and what is provided. Educating those who are trying to help is important to bring about change. Recently, there are many organizations and individuals responding to those needs, including governmental and non‐governmental organizations (NGO). These entities strive to improve the conditions of the African people by providing essentials such as food, clean water, and basic medical supplies. The purpose of this paper is to examine the NGO humanitarian efforts to determine strategies for these organizations to maximize their effectiveness. This paper will provide a framework, with examples that can be used to educate organizations involved in humanitarian efforts how to use their resources more efficiently and effectively.

Design/methodology/approach

The methodology of this paper includes literature review and a site survey and interview are also conducted with the director of operations at an NGO called Global Health Ministries. A strengths, weaknesses, opportunities and threats analysis is performed to assess how this non‐profit (and other non‐profit NGOs) manage their operations with limited resources, unlimited needs of customers, a global logistics and supply chain, and the necessity to minimize risk to the organization.

Findings

The paper helps in determining how to leverage the benefits of an existing established network called Technical Exchange for Christian Healthcare (TECH) that can be utilized by NGOs to build a humanitarian supply chain for Africa and related decision framework. Various recommendations are derived from the analysis for improving services including implementing customer facing metrics, collaborating with other non‐profit organizations to leverage the strengths of each organization, recruiting volunteers with specific business skills like logistics, grant writing, etc. and improving partnerships with global logistics service providers.

Originality/value

The major contribution of the paper is to present a design of a humanitarian supply chain for Africa and the associated decision flow framework for NGOs by leveraging and coordinating TECH network capabilities to help protect the safety of vital life of many vulnerable citizens in African continent.
A cross‐section analysis of financial market integration in North America using a four factor model
Authors: Beaulieu Marie‐Claude , Gagnon Marie‐Hélène , Khalaf Lynda
Published: June 2009

Purpose

The purpose of this paper is to examine financial integration across North American stock markets from January 1984 to December 2003.

Design/methodology/approach

The paper uses an arbitrage pricing theory framework. The risk factors considered are the three Fama and French factors augmented with momentum for both countries as well as their international counterparts. Both the domestic and international four factor models in cross section and test for partial, mild, and strong financial integration are estimated. The domestic and international model are estimated on domestic portfolios and on a subset of Canadian cross listings matched with American stocks.

Findings

Results can be summarized as follows: first, results show stronger evidence of mild rather than partial or strong integration in both domestic portfolios and interlisted stocks. Second, interlisted stocks appear at first glance to be more integrated than the domestic portfolios, but this result can be attributed to the poor explanatory power of the models applied to interlisted stocks. Once the authors rule out the case where the model does not generate statistically important risk premiums for both countries, the evidence of integration is similar in both domestic and interlisted stocks. Third, the domestic and international models have similar explanatory power, although the domestic model performs better with the Canadian interlisted stocks are found.

Originality/value

The results suggest that, in an international context, a portfolio manager is better off using the four factor model as a benchmark in cross sections rather than the single market. Furthermore, if the agency problem described in Karolyi is ignored, Canadian interlisted stocks and Canadian domestic portfolios have the same diversification potential.
Lucent Technologies, Inc.: using structural models to value debt (and equity)
Authors: Camiolo Jack , Cantale Salvatore , Purcell Michael
Published: June 2009

Purpose

The purpose of this paper is to show how contingent claim valuation and, more precisely, structural models, can be used to value the debt and the equity of a corporation. The objective is to provide a general and unified valuation framework.

Design/methodology/approach

A discrete version of the Geske model in a binomial‐like environment is implemented. To make the analysis more applied, real data of a corporation – Lucent Technologies, Inc. are used – and the valuation is attempted.

Findings

Structural models can be used as a practical valuation tool. The results that are obtained are close to market data. Additionally, the authors are able to determine the price of some non‐traded claims (debt).

Research limitations/implications

While the more direct implication is that structural models can be used as a practical valuation tool, more applied research is needed to better calibrate the models.

Originality/value

To the applied finance literature is contributed by presenting a way of estimating the value of corporate debt and equity by calibrating a discrete version of Geske model. It is believed that this approach is not only interesting from the academic point of view, but can also serve as a useful tool for practitioners.
SD‐DES model: a new approach for implementing an e‐supply chain
Authors: Verissimo Pereira Jorge
Published: June 2009

Purpose

The purpose of this paper is to propose a methodology (system dynamics‐discrete event simulation, SD‐DES) to model the SC vulnerabilities and the implementation of IT applications that can improve SC robustness and resilience.

Design/methodology/approach

Studies from different and recognised authors are reviewed, compiled and analysed in the follow aspects. First, the behavioural characteristics of SC‐IT issues are presented. Second, the potential and pitfalls of SD‐DES in addressing these issues are described. Third, the properties that packages of software should have in order to conform to SD‐DES philosophy are outlined. Finally, topics for future research are presented.

Findings

The behavioural characteristics of SC‐IT problems require a new methodology to address this issue which involves both uncertainties and qualitative measures. SD‐DES model promises to have this capacity. Therefore, the simulation software should incorporate both continuous process and discrete events.

Research limitations/implications

There are few papers about software packages for modelling.

Practical implications

This paper sheds light in a hot‐topic which embraces both uncertainties and continuous processes.

Originality/value

This research gives an innovative way to address disruptive events in the SC and IT integration by means of SD‐DES model.
The reliability of aggregated probability judgments obtained through Cooke's classical model
Authors: Lin Shi‐Woei , Cheng Chih‐Hsing
Published: June 2009

Purpose

The purpose of this paper is to compare various linear opinion pooling models for aggregating probability judgments and to determine whether Cooke's performance weighting model can sift out better calibrated experts and produce better aggregated distribution.

Design/methodology/approach

The leave‐one‐out cross‐validation technique is adopted to perform an out‐of‐sample comparison of Cooke's classical model, the equal weight linear pooling method, and the best expert approach.

Findings

Both aggregation models significantly outperform the best expert approach, indicating the need for inputs from multiple experts. The performance score for Cooke's classical model drops considerably in out‐of‐sample analysis, indicating that Cooke's performance weight approach might have been slightly overrated before, and the performance weight aggregation method no longer dominantly outperforms the equal weight linear opinion pool.

Research limitations/implications

The results show that using seed questions to sift out better calibrated experts may still be a feasible approach. However, because the superiority of Cooke's model as discussed in previous studies can no longer be claimed, whether the cost of extra efforts used in generating and evaluating seed questions is justifiable remains a question.

Originality/value

Understanding the performance of various models for aggregating experts' probability judgments is critical for decision and risk analysis. Furthermore, the leave‐one‐out cross‐validation technique used in this study achieves more objective evaluations than previous studies.
A linear model for determining coordination of two adjacent signalized intersections
Authors: Lin Liang‐Tay , Huang Hung‐Jen
Published: June 2009

Purpose

Urban networks are usually divided into several open or closed sub‐networks. Signal coordination has been recognized as one of the most efficient methods of controlling sub‐networks that have independently optimized timing plans. However, coordinating adjacent intersections in a network is a basic prerequisite to optimizing signal‐timing plans for sub‐networks. This paper aims to develop a linear model to support decisions regarding coordination of adjacent signals.

Design/methodology/approach

This paper aims to develop a linear model to support decisions regarding coordination of adjacent signals. The tests of this model which using the field data differ from those for calibration from various roadways, indicating that the model has transferability. Evaluations using microscopic simulation show that the model can objectively determine whether or not to interconnect adjacent signals depending on various traffic demands.

Findings

The model was calibrated by stepwise regression analysis with a total of 195 field samples. This model consists of the dependent variable critical block length (CL) between adjacent intersections, and the independent variables original platoon size (OPS) and platoon completeness ratio (PCR). The calibrated model is shown as following: CL = 689.97 + 6.86 OPS−7.15 PCR.

Originality/value

The proposed model appears to be a viable solution for determining whether to coordinate adjacent signals according to various traffic demands for variously configured roadways. The model shows that a larger OPS or a smaller PCR implies a larger CL. The model also indicates that adjacent signals must be interconnected if they are separated by 690 meters or less. The results also suggest that OPS from 10 to 30 fully disperse at about 800 meters downstream of a stop line. The results support the CL for effectively coordinating adjacent signals, similar to that recommended in the Manual on Uniform Traffic Control Devices. These results may be useful for the effective management of traffic signal networks.
Market‐to‐economy developments in Central Asia: performance measurement
Authors: Humala Heidi
Published: June 2009

Purpose

The purpose of this paper is to examine the performance of the emerging markets of Central Asia, and to bridge quantitative development indicators with a qualitative measurement of market and broader socioeconomic conditions. While findings may warrant deeper examination of inter‐ and intra‐country developments, and, inter alia, comparison to other emerging markets, the paper aims to highlight the importance of aligning macro‐level reforms with due development of industry‐level aims to the conditions.

Design/methodology/approach

This paper relies on secondary research and data from international financial institutions (IFIs), as well as the author's experience in working with private sector development issues in emerging and developing economies. The Central Asian context derives from a comparison of definitions set out by relevant IFIs. Quantitative economic and outlook data set the stage for further examination of market conditions. The paper also touches upon the total factor productivity economic development indicator that was used as the basis for a World Bank report on economic and productivity growth in Eastern Europe and the former Soviet Union.

Findings

While this paper examines reforms and development on a regional level, increasingly favorable market conditions in Central Asia may well be an indirect response to a globalizing world economy. The understanding and systematic measurement of both sectoral and macro‐level drivers will lead to a more holistic understanding of economic development in emerging markets.

Originality/value

This paper provides an understanding of existing market conditions in Central Asia, and builds on the importance of market performance measurement in assessing broader economic development.
Relationship marketing: a Thai case
Authors: Chattananon Apisit , Trimetsoontorn Jirasek
Published: June 2009

Purpose

The purpose of this paper is to explore the impact of relationship marketing in a Thai context by gathering both quantitative and qualitative data.

Design/methodology/approach

This research adopts a multi method approach. A preliminary model is developed from existing literature, and then tested with data collected from a mail survey completed by 166 salespeople in 30 steel pipe firms in Thailand. Finally, to better understand the quantitative results from a different perspective, in‐depth interviews with 15 sales managers are undertaken and the model further refined.

Findings

The quantitative findings indicate that from the perspective of industrial sales people, the key success factor of relationship marketing is trust. However, the results of the in‐depth interviews with sales managers did not support the views of the salespeople. The sales managers endorse four variables: bonding, empathy, reciprocity, and trust, as affecting the success of relationship marketing. Further, company image, information exchange, and time are identified as key factors that contribute to the building of these variables, which in turn contribute to performance.

Research limitations/implications

The data are gathered from one industry in one country only, hence future research could extend these findings to other industries and countries to test their general application.

Practical implications

The key implications of these findings for marketing managers include support for the use of relationship marketing programs at a strategic level as well as suggestions for successful implementation of these programs. These findings suggest that the existence of needs analysis and response adaptation characteristics in salespeople have a strong, significant, and positive association with buyer‐seller relationship development.

Originality/value

This paper contributes to relationship marketing research because a scarcity of empirical research still exists in this field, particularly in emerging markets such as Thailand.
Chinese consumer perceptions of socially responsible consumption
Authors: Chen Hua , Kong Yusheng
Published: June 2009

Purpose

The performance of corporate social responsibility has affected consumers' purchase actions. This study seeks to commit a questionnaire investigation to find out what the Chinese consumer is thinking and acting about corporate social responsibility.

Design/methodology/approach

The paper commits a questionnaire that contains three factors and analyzes and reports the results on the Chinese consumer's attitude and the influenced purchase on corporate social responsibility.

Findings

It is found that different status consumers in China have different perceptions on corporate social responsibility and their purchases are influenced at a different extent. It is only under specific conditions that consumers act in a socially responsible manner.

Research limitations/implications

The present study provides a starting‐point for further research on putting forward items according to different region, scale, industry and products and analyzing the weight of each item.

Originality/value

Companies may draw up different CSR strategies in connection with different products or different consumers in order to improve profits.
The embedding of knowledge in the academy: “tolerance”, irresponsibility or other imperatives?
Authors: Green Miriam
Published: June 2009

Purpose

The purpose of this paper is to examine why there were different representations and research applications of Burns and Stalker's The Management of Innovation.

Design/methodology/approach

The approach primarily takes the form of an examination of academic journals, in particular The Administrative Science Quarterly between 1960 and 1980. Theoretical works, in particular by Bourdieu, were also used.

Findings

Contrary to accepted knowledge, the journals were eclectic in their approaches and did not require authors to adopt positivist approaches.

Research limitations/implications

A fuller answer to the question posed would require interviews with journal editors and university policy makers from the 1960s‐1980s. This has not been possible so far. Although some answers have been provided, questions still remain as to why certain representations of this book were dominant.

Practical implications

There are implications as to what counts as knowledge in academe, and how this knowledge should be treated, given that it may only partially represent the theory above and also other theories. This has implications for what is taught in universities and what is adopted by consultants as bona fide knowledge.

Originality/value

To the author's knowledge such questions using this type of research have not been examined in the detail pursued here.
CSR activities in award‐winning Thai companies
Authors: Virakul Busaya , Koonmee Kalayanee , McLean Gary N.
Published: June 2009

Purpose

This case‐study research aims to examine best CSR practices in four Thai companies that were given CSR awards. The purpose is to report on best practices in CSR in Thailand.

Design/methodology/approach

Four Thai companies that received the best CSR awards from the Stock Exchange of Thailand (SET) in 2006 were selected. The data were collected through a questionnaire, interviews, and company documents and web sites.

Findings

CSR activities in the top Thai companies were based on moral or altruistic motivations with a focus on both production‐process and philanthropic outcomes. The driving forces behind CSR activities in these companies were CEO leadership, company performance, and stakeholders' expectations. Their CSR framework followed the stakeholders' model and issues management which arranged CSR activities into five main categories: education, arts and culture, sports, environment, and public welfare. Critical issues in managing CSR activities were selection of appropriate CSR activity, participation by people in communities affected by the CSR activity, gaining shareholders' support and understanding, and appropriate CSR evaluation methods.

Research limitations/implications

The research studied only four companies in Thailand. This may limit generalizations and may provide only a foundation for further research rather than definitive conclusions.

Originality/value

The findings of the research may be useful for: companies in Thailand or in other countries which are considering adopting CSR activities appropriate to their environment; researchers who might utilize the findings for furthering their CSR work; and indicating the contribution and the valuable role of both local and international CSR institutes and networks.
The relationship between corporate social responsibility disclosure and corporate governance characteristics in Malaysian public listed companies
Authors: Said Roshima , Hj Zainuddin Yuserrie , Haron Hasnah
Published: June 2009

Purpose

The purpose of this paper is to examine the relationship between corporate governance characteristics, namely the board size, board independence, duality, audit committee, ten largest shareholders, managerial ownership, foreign ownership and government ownership and the extent of corporate social responsibility disclosure.

Design/methodology/approach

The content analysis was used to extract the CSR disclosure items from annual report and companies' web sites. Then, a CSR disclosure index was constructed after combining CSR disclosure items disclosed both in annual reports and in companies' web sites. Hierarchical regression analysis was used to examine the relationship between the corporate social disclosures index and the independent variables, namely the board size, board independence, duality, audit committee, ten largest shareholders, managerial ownership, foreign ownership and government ownership after statistically controlling the effects of a firm's size and the profitability of the companies.

Findings

Results based on the full regression models indicated that only two variables were associated with the extent of disclosures, namely government ownership and audit committee. Government ownership and audit committee are positively and significantly correlated with the level of corporate social responsibility disclosure. The most significant variable that influences the level of CSR disclosure is government ownership.

Research limitations/implications

The findings are limited to the context of the study and it was limited to Malaysian public listed companies, January to December 2006. The sources of data in this study were companies' annual reports and web sites only.

Practical implications

The study is useful to organizations and statutory bodies to take into consideration in identifying the corporate governance characteristics that will enhance CSR disclosure, since it had been shown in previous studies that corporate social responsibility reporting in Malaysia is generally low. The government can determine how important it is that a company should be willing to allocate their costs towards corporate social responsibility activities. Thus, this study will emphasize the level of activities through corporate social responsibility reporting in Malaysian public listed companies and help the government to ascertain the level of corporate social responsibility activities through corporate social responsibility reporting among Malaysian public listed companies.

Originality/value

The study reveals the extent of the disclosure of corporate social responsibility to companies web sites and constructed the CSR index based on two sources of data, namely companies' web sites and annual reports.
Before and after: employees' views on corporate social responsibility: energy‐sector stakeholders in Nordic post‐merger integration
Authors: Syrjälä Jari , Takala Tuomo
Published: June 2009

Purpose

The aim of this paper is to describe and qualitatively explain certain observations concerning corporate social responsibility from the personnel standpoint with special reference to various stakeholders.

Design/methodology/approach

The observations were made in connection with earlier studies on organizational change. The paper draws on stakeholder thinking and offers a view regarding the way employees perceive business issues concerning CSR in relation to corporate stakeholder groups. Should a business give priority to the interests of its owners or take all stakeholder groups equally into account? How do employees see their own relations with other stakeholder groups, and do their views change in the course of a post‐merger integration process? The interviews were conducted at two points in the change process in Nordic energy sector companies: first in the pre‐merger situation in 2001 and then in the post‐merger situation four years later in 2005.

Findings

The main contribution of the study is the observation of the changing positions of stakeholder groups in a merger process. The findings show that two of these primary stakeholder groups – namely, management and owners – shift places in a merger, with owners replacing the management in the corporate core and the old, pre‐merger management joining the stakeholder group of other personnel.

Originality/value

The paper produces new and validated scientific information about energy‐sector mergers from the employees' point‐of‐view.
Cloned food labeling: history, issues, and bill S. 414
Authors: Feight Jennie , Zuraikat Nashat
Published: June 2009

Purpose

The issue of cloned food labeling came to the forefront on January 15, 2008, with the release of a controversial report by the Food and Drug Administration (FDA). This paper aims to explore issues surrounding cloned food sources, specifically the increasingly vocal demands by the American public for mandatory labeling.

Design/methodology/approach

This paper reviews literature to examine the culture and structure of the FDA over the past ten years. Ethical, economic and public health concerns surrounding cloned food sources are also examined. Comparisons are made to the shared history of genetically modified organisms (GMOs). Political process and implementation of the Cloned Food Labeling Act (S. 414) are explored.

Findings

The FDA faces legal and cultural pressure to speed medications to market. The processes created by this struggle also affect the regulation of agriculture; this can be seen in the similar histories of GMOs and cloned food. Ethical issues surrounding cloned food labeling include animal welfare and the usurpation of the creator's role. Other ethical issues are entwined in health and economic concerns. Health issues include the capacity of the FDA to track allergic reactions and the possibility of future protein abnormalities among consumers. Environmental and herd health are identified as more global health concerns.

Practical implications

The combined economics of the biotech cloning and agricultural industries invert the usual law of supply and demand. This economic dynamic may either hurt small farmers or potentially benefit those who eschew cloning due to ethical or financial constraints. The current political climate exerts an interesting dynamic on the cloned food labeling debate. Consumer issues are pushed aside in the excitement of a new administration and more pressing issues such as the recessed economy. Biotech industries have the ability to maintain focus in the midst of distracting national issues; however, legislative opponents may have newfound strength with a majority congress.

Originality/value

Functioning as an historical overview and theoretical framework for those studying cloned food safety and labeling issues, this paper is useful in engendering ethical discussions. It also highlights the need for statistical and public health research on cloned food safety.
The retail health clinic model: economically viable?
Authors: Hayden Eric W.
Published: June 2009

Purpose

In early 2008, the Massachusetts Public Health Council voted to allow walk‐in healthcare clinics to operate in the state. The charged public debate leading up to the decision pointed to the need for an objective examination of retail health care delivery – the concept, historical evolution, and relative pros and cons – as well as an assessment of its long‐term prognosis. This paper aims to assess the situation.

Design/methodology/approach

An online literature review identified several useful background resources, including a business school case, a medical journal article, and a cost study. The internet also provided access to the web sites of major clinic operators, the positions of various physician groups, news releases, and investor conference calls of the industry leader. The research was further informed by the findings of a third‐party interactive survey of clinic users and a small onsite sampling by the author.

Findings

Less than a decade old, the retail health care clinic business is in the midst of significant consolidation, with CVS Caremark and Walgreens emerging as the key players. Still a loss‐leader, the business stands to gain from several structural changes underway in the American health care industry, discussed in the paper. Benefiting from those changes, however, will require a significant increase in foot traffic into the host stores, i.e. to the clinics themselves and also for ancillary shopping. Until then, the economic viability of the clinics remains unclear.

Originality/value

The paper provides a concise assessment of the status of a business with significant potential to help contain health care costs.
Designing a stress management intervention in social services
Authors: Coffey Margaret , Dugdill Lindsey , Tattersall Andy
Published: June 2009

Purpose

The purpose of this paper is to present an evaluation of the design of a stress management intervention (rather than an evaluation of the implementation and outcomes of the programme).

Design/methodology/approach

This paper uses data generated from a large study carried out in two social service departments in the UK. The study is carried out in three phases: first, a problem diagnosis phase, comprising the development of a questionnaire and survey (n=1,234); second, focus groups (n=16) to develop interventions in a participatory way from the baseline established; and finally, an evaluation of the processes involved in phases one and two.

Findings

Key barriers include: major changes are currently taking place within the organisations; staff are distrustful of management and sceptical of the value of the research; lack of resources; and difficulties translating the findings into actions. Key factors necessary for success include: strong commitment from senior management; willingness by staff to participate; realistic expectations, responsibilities and time‐frames agreed at the outset of the project. Key health promotion outcomes achieved include: improved health literacy; changes to organisational policies and practices and staff empowerment and participation.

Research limitations/implications

Future research designing and implementing stress management interventions can draw on the evidence from this study in order to improve intervention effectiveness.

Practical implications

Evaluating the design of the stress management intervention has identified: what worked well, what did not, and in what context; difficulties associated with managing change; and unanticipated successes.

Originality/value

This paper provides an overview of the conditions which need to be created in order to achieve potentially successful outcomes and improve intervention effectiveness.