bluuebunny/crossref_metadata_2025_split huggingface dataset:
Institutional investors, information asymmetry and stock market liquidity in France
Authors: Ajina Aymen , Lakhal Faten , Sougné Danielle 
Published: January 2015

Purpose
– The purpose of this paper is to examine the effect of institutional investors’ ownership and type on information asymmetry and stock market liquidity in France.

Design/methodology/approach
– The sample includes 162 French-listed firms from 2007 to 2009. The methodology relies on linear regressions using the method of ordinary least square. Before examining the interaction between liquidity and institutional investors, the authors check for the existence of the endogeneity problem by applying the Durbin-Wu-Hausman test of Davidson and MacKinnon (1993). The results of the endogeneity test show that institutional investors’ ownership and stock liquidity are endogenous. A simultaneous equation model using the double least square method is then tested to address this problem.

Findings
– The findings show that the proportion of institutional investors has a positive and significant effect on stock-market liquidity, which confirms the signal theory and trading hypothesis. These investors perform high trading activity which favorably affects market liquidity. The results also show that pension funds improve stock liquidity. This result suggests that pension funds manage huge assets decreasing transaction costs and improving liquidity. They display a positive signal to the market about more transparency and a low level of informational asymmetry.

Practical implications
– These results highlight the institutional investors’ role in defining the level of liquidity on the French market. The findings also stress the relevance of developing institutional investors’ demand for the Paris market in order to better assess firm value, protect minority ownership and improve market liquidity.

Originality/value
– In the French institutional setting, institutional investors act as a control device since minority shareholder interests are less protected than in Anglo-American counterparts. This result highlights the significant role of institutional investors in corporate governance structures and on financial markets. Their presence is a guarantee for minority interest protection and for more liquid stocks.
Structural integrity assessment of H2S storage tanks using acoustic emission and ultrasonic techniques
Authors: Mukhopadhyay C. K. , Haneef T.K. , Jayakumar T. , Sharma G.K. , Rao B.P.C. 
Published: January 2015

Purpose
– The purpose of this paper is to present the results of acoustic emission (AE) and ultrasonic inspection of two H2S storage tanks carried out in a heavy water plant, in order to characterize point type defects observed during earlier ultrasonic inspection and to ensure that these defects are not growing during hydrotesting of the tanks.

Design/methodology/approach
– Using multiple AE sensors and AE source location methodology, the entire tank could be covered to detect and locate any dynamic sources of AE associated with local plastic deformation and/or growing discontinuities from any part of the tank during the hydrotest. For confirmation of the results obtained by AE, ultrasonic inspection on the tanks and on virgin plates from which the tanks were manufactured, were carried out.

Findings
– The AE signals generated during first pressurisation are attributed to the micro yielding of the material of the tanks. A few scattered AE events were observed at a few locations during the hydrotesting of the tanks and these are due to structural and rubbing noise. During hold periods and repressurising cycle of the hydrotesting, no detectable AE events were observed and this confirmed the absence of any growing discontinuity in the tanks during the hydrotesting. Ultrasonic inspection on the tanks and on virgin plates confirmed that the point type defects detected are manufacturing defects and not formed during service life.

Practical implications
– The combined results from AE and ultrasonic techniques confirmed the structural integrity of the tanks and ensured their healthiness for continued operation.

Originality/value
– The paper brings out the use of AE and ultrasonic techniques for monitoring hydrotesting of storage tanks of a heavy water plant. The storage tanks where point type defect indications were reported during previous ultrasonic inspection and whether these defects are growing during hydrotesting of the tanks or not, were required to be known before the tanks are put in to further service. AE signals collected during pressurising and repressurising cycles of the hydrotest and subsequent inspection by ultrasonic confirmed the vessels to be free from growing defects during the hydrotest and provided baseline data for future inspection.
Intimate knowledge initiators
Authors: Wu Wu-Chung , Ku Edward C. S. , Liao HsinJou 
Published: January 2015

Purpose
– The purpose of this paper is to investigate how marketing capability, dysfunctional conflict, and relationship value affect relational benefits through the relational proclivity between suppliers and initiators in a group-buying web site.

Design/methodology/approach
– The initiators selected were those who conducted group buying more than ten times in the group-buying web site. In total, 9,000 invitation e-mails were sent to initiators, of which 389 were returned; the model and hypotheses were tested by using structural equation modeling.

Findings
– In online group buying, initiators can know about a new product only through the web site; the marketing capability of suppliers and the relationship value of initiators are positively associated with the relational proclivity between suppliers and initiators. And, the results indicate that the dysfunctional conflict of initiators is not positively associated with the relational proclivity between suppliers and initiators. Finally, The relational proclivity between suppliers and initiators is positively associated with the relational benefit between initiators and buyers.

Practical implications
– The supplier and the initiator can work together in brainstorming new products; moreover, initiators can assist suppliers by helping them identify buyers’ demands and giving them relevant feedback.

Social implications
– The suppliers’ marketing capability is important for initiators because it can help increase the latter’s ability to catch buyers’ attention. In addition, the initiator and supplier together can think about product innovation and new product designs.

Originality/value
– Initiators, as key persons in the group-buying process, serve as a bridge between suppliers and buyers and have a positive impact on group buying. The findings suggest that certain facets of initiators are helpful in explaining the expected product performance of buyers.
FVA – Sailing on the uncharted waters
Authors: Prorokowski Lukasz , Prorokowski Hubert 
Published: January 2015

Purpose
– This report aims to investigate the approaches taken by financial institution to implement and compute the funding valuation adjustment (FVA). FVA can be defined as the incremental cost attributable to trades with non-collateralised counterparties. This cost emerges related to the need to fund the collateral calls associated with collateralised hedge trades. In this respect, one common challenge faced by banks relates to designing appropriate methodological approaches to compute an FVA.

Design/methodology/approach
– Recognising the growing importance of an FVA, this report is designed to investigate different approaches to computing FVA and pricing funding costs into the uncollateralised positions. Embarking on semi-structured interviews, the report explores the methodologies and structural solutions utilised by global banks.

Findings
– This report has indicated several influential trends that shape the nascent FVA landscape, as well as innovative initiatives undertaken by the banks to effectively use this metric. Going forward, this paper has pointed to a number of current and future challenges faced by the participating banks with regard to implementing the FVA.

Originality/value
– Before regulators make FVA punitive, unprofitable or inadequate by propagating the move to collateralised trading or introducing sanctions on banks recognising FVA in their financial statements, and thus reducing banks’ exposure to arbitrage opportunities, FVA will remain a challenging metric for the banking industry in the near future. Therefore, it is pivotal to understand any potential risks and operational difficulties arising from “sailing on the uncharted waters with FVA”. Moreover, it is necessary to understand market consensus on methodological approaches to computing FVA, as well as practices around constructing the bank’s own cost of funds curves.
Approaches to financial regulation in view of the crisis
Authors: Stöhr Alexander 
Published: January 2015

Purpose
– Financial crises pose a challenge to the legal systems of the concerned countries and international organizations. The current crisis has exposed significant failures of regulation and supervision, making the Financial Market Law a key topic on the political agenda. Thus, great changes and challenges are ahead of us. These were the focus of an interdisciplinary and comparative conference held at the University of Marburg. The paper deals with the individual presentations and carries out an overall analysis.

Design/methodology/approach
– The paper covers the most important issues in financial regulation.

Findings
– An extensive regulation is confronted with several obstacles; suitable approach could be the co-regulation; desirable aim is the instauration of the mechanism of capital markets. Those who gain the benefits in case of success should also bear the losses in case of failure instead of being rescued at taxpayers’ expense.

Originality/value
– The difficulties arising from extensive regulation suggest a more liberal approach to financial regulation.
Simulating the cyclically adjusted returns to UK property lending
Authors: Barkham Richard , Frodsham Malcolm 
Published: January 2015

Purpose
– The purpose of this paper is to provide an indication of the returns to commercial property lending over the last 30 years in the UK.

Design/methodology/approach
– There is no long-term index of the returns to commercial property lending in the UK. This paper provides a partial solution by simulating the performance of bullet loans of various vintages, based on the value movements of the IPD index.

Findings
– On average over the long-term debt returns are higher than equity returns. However, in certain periods, the losses incurred by real estate lenders are very large.

Research limitations/implications
– No account taken of risk mitigation strategies used by lenders such as cross-collateralisation.

Practical implications
– Provides an alternative approach to that recommended by the recent IPF “Vision For Real Estate Finance” Document based on the use of ICR. Makes the case for a loan equivalent of the IPD index.

Social implications
– Reduced chance of resource misallocation and recession due to excess real estate lending.

Originality/value
– Very limited information on private real estate debt returns.
The significance and performance of Singapore REITs in a mixed-asset portfolio
Authors: Newell Graeme , Pham Anh Khoi , Ooi Joseph 
Published: January 2015

Purpose– REITs have taken on increased significance in Asia in recent years, with Singapore REITs (S-REITs) becoming an important property investment vehicle since 2002. The purpose of this paper is to assess the significance, risk-adjusted performance and portfolio diversification benefits of S-REITs in a mixed-asset portfolio context in Singapore over 2003-2013. The post-GFC recovery of S-REITs is also assessed.Design/methodology/approach– Using monthly total returns, the risk-adjusted performance and portfolio diversification benefits of S-REITs over 2003-2013 is assessed, with efficient frontiers and asset allocation diagrams used to assess the role of S-REITs in a mixed-asset portfolio. Sub-period analyses are conducted to assess the post-GFC recovery of S-REITs.Findings– S-REITs delivered strong risk-adjusted returns, being the best-performed asset class, but with little portfolio diversification benefit over 2003-2013. Whilst taking on reduced risk, but with less portfolio diversification benefits in recent years, S-REITs are seen to be robust relative to the other major Singapore asset classes; contributing significantly across the risk spectrum; particularly in the post-GFC period, where S-REITs have been the best-performed asset class in Singapore.Practical implications– The results highlight the important strategic role of S-REITs in a Singapore mixed-asset portfolio. The strong risk-adjusted performance has highlighted the robustness of S-REITs, with S-REITs contributing to the mixed-asset portfolio across the portfolio risk spectrum; particularly in the post-GFC period. This robustness highlights the ongoing strategic role of S-REITs in a Singapore mixed-asset portfolio, as well as the ongoing development of S-REITs as an important pan-Asia hub for REITs.Originality/value– This paper is the first published empirical research analysis of the risk-adjusted performance of S-REITs and the role of S-REITs in a portfolio. Given the increased significance of REITs in Asia, this research enables empirically validated, more informed and practical property investment decision-making regarding the role of S-REITs in a mixed-asset portfolio and S-REIT performance in a post-GFC context.
Pro-environmental behaviour, locus of control and willingness to pay for environmental friendly products
Authors: Trivedi Rohit H , Patel Jayesh D , Savalia Jignasa R 
Published: January 2015

Purpose
– Marketers have realized the importance of assessing consumers’ willingness to pay (WTP) before introducing green products across different target audience. The purpose of this paper is to examine the relative influence of consumers’ pro-environmental behaviours (PEBs) and environmental locus of control (ELOC) on their WTP for green products.

Design/methodology/approach
– The study sample consisted of 256 Indian consumers which were recruited with the help of convenience sampling. A structured questionnaire was administered with scales that were well established and that have been used in previous research. Data were analysed with the help of CFA and structural equation modelling to test the relationship of ELOC and PEB anon WTP. Second, clustering respondents according to their PEB and ELOC has been done to find its differential effect on WTP with the help of multivariate analysis of variance (MANOVA).

Findings
– Findings of the study highlight that WTP for green products is significantly predicted by two variables which are in following order: PEB and ELOC. Results of cluster analysis and MANOVA revealed that WTP differ significantly with the level of intensity of ELOC and PEB among Indian consumers.

Research limitations/implications
– It advances the body of knowledge centred on the interplay of the PEB and ELOC to WTP for green products. Additional work is clearly required to consider the wide range of potentially relevant variables like brand image, prices, advertisements and product quality that ensures the generalizability of findings.

Practical implications
– The hypothesis framed, tested and inferences made can form a basis of extremely valued toolkit for those green marketers who take caution when planning their marketing and communications strategies to stimulate the WTP by conveying a reason and motivation to act environmentally.

Originality/value
– In this study, an understanding of WTP for green products is developed. The much required knowledge gap in terms of interplay of ELOC and PEB on WTP has been filled with the help of the present study. It has been identified that those consumer groups who displays higher PEB and ELOC forms the primary target audience for green product marketer.
How to transform research cases into teaching cases
Authors: Vega Gina , Simendinger Earl , Thomason Stephanie J. 
Published: January 2015

Synopsis
Academic research cases (ARC) provide interesting learning situations and challenging problems to study. However, it can be difficult to bring these research cases to classroom teaching because the “answers” are embedded within the case studies. Research cases can be redesigned as teaching cases (TCs) through a method of unwrapping the ARC and re—visioning it as a TC. One method is provided in this paper.

Research methodology
The authors have taken an unpublished research study and rewritten it as a TC. Elements from both manuscripts are provided in tabular form to guide the creation of TCs by academic researchers.

Relevant courses and levels
This paper will be helpful for any academic who wishes to transform a qualitative research case study into a useful classroom teaching tool.
Coffee, costs, and competition: a case exercise for managerial accounting
Authors: Hall Linda A. , Bandyopadhyay Jayanti , McNamara Susan 
Published: January 2015

Synopsis
This case illustrates the implications of the business challenges faced by an on‐campus student‐run convenience store when an internationally known coffee company opened a competing store. The case exercises focus on the application of managerial accounting concepts relevant for future strategic decision making. Students have the task of extracting relevant data from descriptive information. Using the story of an actual student‐run coffee shop that confronted an emerging competitor and thus necessitating these analyses can provide an attractive alternative to teaching managerial accounting concepts that are often considered by students as “dry.”

Research methodology
Case information was obtained from actual student organization and university data slightly modified to facilitate calculation and application of managerial accounting topics. Identities of the institution, the student run store and the international competitor have been disguised at their request. Certain events and dates have been altered to protect identities.

Relevant courses and levels
Relevant courses include but are not limited to: Introductory Managerial Accounting and Cost Accounting at the undergraduate business or accounting and the graduate MBA level.

Theoretical basis
Teaching opportunities include the application of managerial accounting concepts relevant for future strategic decision making. Topics include cost‐volume‐profit, sales‐mix, and break‐even analyses, conversion of traditional income statements to contribution margin income statements, and internal control issues.
Fire at Tazreen Fashions: fixing responsibility in a global supply chain
Authors: Gopinath C. , Choudhury Muntakim M. 
Published: January 2015

Synopsis
The case describes the evolution of Bangladesh's garment industry, the second largest garment exporter in the world, and its operational problems. The focus is on the fire that occurred on November 24, 2012 at Tazreen Fashions, a unit that is a part of a global supply chain for US and European retailers. The case explores the role of the government, western retailers, industry association and NGOs subsequent to the fire, and shows how increasing CSR expectations of corporations are making them take on responsibility for what should be that of the government or the garment unit.

Research methodology
Secondary sources; published materials.

Relevant courses and levels
International Business, Business and Society, Supply Chain Management, Doing Business in Emerging Markets.

Theoretical basis
Corporate social responsibility stakeholder theory market entry.
Gendering Demilitarisation and Justice in Northern Ireland
Authors: Ashe Fidelma 
Published: January 2015

Research Highlights and Abstract This article: Exposes how masculinised accounts of conflict transformational processes in Northern Ireland have distorted the historical record of the region's on-going transition from violent conflict. Assesses the theoretical and practical effects of de-gendering the analysis of conflict transformational processes in the region. Provides an empirical study of women's hidden contribution to the reduction of levels of paramilitary violence in ethnically divided, working-class communities in the region. Utilises focus group data to develop a gender-sensitive reading of community justice, security and peace. The 1998 Peace Agreement in Northern Ireland provoked local-level processes of demilitarisation that focused on developing community-based restorative justice practices to replace paramilitary forms of justice. These schemes were viewed as important aspects of the broader process of conflict transformation in the region. The dominant narrative surrounding the development of these new justice forms framed them as an outcome of the efforts of ex-combatant men. This article contests this narrative and examines women's contribution to the development of CBRJ in Northern Ireland. Using data from focus groups, the article exposes the consequences of displacing women in conflict transformational analysis. Additionally, it explores how women's articulation of their conflict transformational practices engenders a critical reframing of key terms in conflict transformational narratives including peace, security, and justice. This exploration reinforces wider feminist claims that any analysis of conflict transformational processes that displaces gender is both conceptually and politically problematic.
Patterns and causes of health inequalities in later life: a Bourdieusian approach
Authors: McGovern Pauline , Nazroo James Y. 
Published: January 2015

AbstractThis study explores the relationship between social class and health change in older people in a path analysis, using data from the English Longitudinal Study of Ageing (n = 6241) in a Bourdieusian theoretical framework. Bourdieu drew a distinction between the occupational characteristics by which people are classified and the secondary properties of class that relate to lifestyle (economic, cultural and social capitals). Our path model includes both occupational and secondary characteristics of objective social class as well as a measure of subjective social class. We investigate the effects of the predictors on change in three health outcomes (self‐rated health, number of symptoms of depression and number of difficulties with the activities of daily living). The analysis adds to Bourdieusian research by showing how the effects of objective social class on health are partially mediated by perceived social status. It also adds to substantive research on the relationship between class and health by suggesting that class‐related health inequalities do persist for older people, even for those who are not in paid employment. It suggests that a large amount of the effect of occupation on the health of older people is not direct but indirect; through their personal wealth and lifestyle.