bluuebunny/crossref_metadata_2025_split huggingface dataset:
Dirty money in Jamaica
Authors: Alice Young Mary 
Published: August 2014

Purpose
– The purpose of this paper is to examine the current state and future pressures of money laundering on Jamaica and the financial crime connections between the UK and Jamaica.

Design/methodology/approach
– The paper focuses on the primary data collected from a series of semi-structured interviews with members from the law enforcement and financial services sectors of Jamaica. The main objective of the interviews was to secure a range of opinions concerning the problem of money laundering in the country. Interviewees were selected from the Office of the Director of Public Prosecutions, the Financial Investigation Division of the Ministry of Finance and Planning, the British High Commission and the Financial Services Commission. The names of all subjects shall remain anonymous to protect the privacy of those who were interviewed.

Findings
– Through the analysis of primary data it will be shown that Jamaica remains vulnerable to money laundering – particularly the proceeds of crime laundered through the remittance sector – despite a legislative overhaul in 2007 to adopt the UK’s Proceeds of Crime Act. Ineffective legislation is most certainly due to generic weaknesses and flaws which are applicable to many Caribbean states, for example, a lack of political will to enforce anti-money laundering regulations, corruption, inadequate police training, lack of resources, a strong remittance sector and geographical positioning along a drug-trafficking route.

Originality/value
– This paper is the first of its kind to comprehensively analyze the money laundering situation in Jamaica, using detailed first accounts from members of the law enforcement and financial sectors.
The SEC’s Municipal Advisor Rule will prompt new practices for market participants
Authors: Bannard David , Groethe Reed 
Published: August 2014

Purpose
– To explain the new Municipal Advisor Rule that will take effect on July 1, 2014, which regulates persons and firms that provide advice to municipal issuers and obligated parties regarding municipal financial products or the issuance of municipal securities or that engage in certain solicitation of municipalities or obligors on behalf of third parties.

Design/methodology/approach
– Explains who is treated as a Municipal Advisor, the standards applicable to Municipal Advisors, how the Rule may affect municipal securities issuers and obligated persons (collectively referred to as “Borrowers”) as well as other market participants, describes the exceptions and exemption s to the requirements of the Rule, and concludes with suggestions as to how Borrowers and other market participants may promote the flow of information.

Findings
– The Rule will carry out a requirement of the Dodd-Frank Act, which provides that any party that provides advice to a Borrower regarding municipal financial products or the issuance of municipal securities must register with the SEC and the MSRB as a Municipal Advisor, unless such party qualifies for an exception or exemption under the Rule. Practical Implications: The Rule will change how information flows in the municipal securities market. Some consequences of the Rule may disadvantage Borrowers and other market participants. The Rule may restrict the flow of information provided to Borrowers by participants in the municipal securities marketplace that are not Municipal Advisors.

Originality/value
– Practical guidance from experienced financial services lawyers.
Shareholder activism spreads globally
Authors: Pickering Bomba Abigail , Epstein Steven , Richter Philip , Shine David , E. Sorkin John , Weinstein Gail 
Published: August 2014

Purpose
– To inform on recent developments in shareholder activism, a phenomenon well-documented in North America and Europe and now spreading to Latin America, and summarize the key considerations for corporate boards.

Design/methodology/approach
– The article discusses a recent development involving Cartica Capital, a USA hedge fund and minority shareholder in CorpBanca, a Chilean bank pursuing a merger with Itau Unibanco Holding SA, Latin America’s biggest bank by market value, Cartica.

Findings
– Shareholder activism will continue to be an expanding global phenomenon.

Practical implications
– Boards must continue to plan accordingly when structuring a strategic transaction, both in and outside the USA market.

Originality/value
– Practical overview of recent developments in shareholder activism with a review of the key considerations for practitioners.
SEC’s examination program issues a risk alert on investment adviser due diligence processes
Authors: H. Walsh John 
Published: August 2014

Purpose
– To summarize and interpret a Risk Alert titled “Investment Adviser Due Diligence Processes for Selecting Alternative Investments and their Respective Managers,” issued by the USA Securities and Exchange Commission Office of Compliance Inspections and Examinations on January 28, 2014.

Design/methodology/approach
– Focuses on investment advisers selecting underlying alternative investment managers. Discusses the scope of the Staff’s observations. Describes several due diligence practices observed by the staff, including seeking greater transparency; utilizing third-party information aggregators, administrators, custodians, and auditors; using more quantitative analysis; and extending due diligence process to include operational and liquidity reviews. Lists several observed warning indicators that could lead an advisor to conduct additional due diligence, request the underlying manager to make appropriate changes, or reject or veto an investment. Identifies both positive and negative compliance practices.

Findings
– The Risk Alert noted several observed risk indicators that could lead an adviser to conduct additional due diligence, request the underlying manager to make appropriate changes, or reject or veto the investment. Advisers can assume that SEC Staff will ask about these risks in future adviser examinations.

Originality/value
– Practical guidance from an experienced financial services and securities lawyer.
How sell side advisors can reduce litigation risk in light of Delaware’s Rural/Metro decision
Authors: Gooding Gregory , Regner William , O'Connor Maeve , Kubek Gary 
Published: August 2014

Purpose
– To explain the implications of a March 2014 Delaware Court of Chancery decision that found RBC Capital Markets liable for damages for aiding and abetting breaches of fiduciary duty by the directors of Rural/Metro Corporation in connection with the company’s 2011 sale to an affiliate of Warburg PIncus.

Design/methodology/approach
– Explains the court’s findings and decision, offers procedural lessons for sell-side financial advisors, and recommends what sell-side advisors can do to limit exposure to aiding and abetting claims.

Findings
– The Rural/Metro decision opens the door to additional litigation risk for sell-side advisors. However, Vice Chancellor Laster’s opinion also provides a roadmap for how an advisor can limit that risk.

Practical implications
– Director and financial advisor liability most often results from process failures.

Originality/value
– Practical guidance from experienced mergers and acquisitions and securities and corporate governance lawyers.
SEC staff expands relief from broker-dealer registration under US Securities Exchange Act for intermediaries in private M&A transactions
Authors: Kahn Henry , Welp Robert , Parrino Richard 
Published: August 2014

Purpose
– To review the M&A Brokers “no-action” letter issued in February 2014 by the staff of the USA Securities and Exchange Commission that clarifies the circumstances in which intermediaries (M&A brokers) may receive transaction-based compensation for services provided in connection with sales of private companies without having to register and be regulated by the SEC as broker-dealers under the USA Securities Exchange Act of 1934.

Design/methodology/approach
– Examines the new SEC staff interpretative guidance on activities of M&A brokers in light of USA federal securities laws and previous staff no-action letters that address the application of broker-dealer registration requirements to such intermediaries when they render services in connection with purchases and sales of privately-held companies. Summarizes the manner in which the SEC staff’s new position expands the types of private M&A transactions on which intermediaries may advise and broadens the scope of services they may provide without subjecting themselves to Exchange Act registration.

Findings
– The M&A Brokers letter dispels much of the uncertainty existing under earlier SEC staff no-action letters about the scope of permissible activities in which unregistered intermediaries may engage in private M&A transactions. By broadening the scope of those activities under the federal statutory regime governing broker-dealers, the new staff guidance should facilitate the expansion of services provided by M&A brokers without registration and permit greater flexibility for M&A brokers and their clients to structure compensation arrangements. The paper cautions that, absent reform of more restrictive regulation under the securities laws of some states, the prospects for expanded involvement by unregistered intermediaries in private M&A transactions may not be fully realized.

Originality/value
– Expert guidance from experienced securities lawyers.
Fortress Europe? UCITS V and the US Fund Manager
Authors: Jesch Thomas , Renz Hartmut , Culhane Stephen , Firth Simon , Sausen David , Schneider Willys , Williams George 
Published: August 2014

Purpose
– To discuss the new UCITS V Directive, recently agreed upon by the European Parliament and Council, which will include safeguards to protect client assets in the event of a depositary’s insolvency and also address remuneration practices that are thought to encourage excessive risk-taking.

Design/methodology/approach
– Summarizes UCITS-V, discusses whether the new remuneration rules are sound, addresses the concern that the UCITS V remuneration restrictions could make it difficult for USA-affiliated advisers and managers to manage UCITS, summarizes next steps and further procedures.

Findings
– From an institutional point of view, deferred remuneration systems will require credit institutions, as well as investment firms and custodians, to ensure sound and sustainable business models that also protect the public. This will be accomplished in part by establishing incentives and compliance systems that foster a risk-aware approach and an awareness by employees that they will profit only if the fund investors or the relevant credit institutions do. UCITS offering materials will need to be evaluated to see if current advisory structures can be maintained while retaining the desired business profile of the fund.

Originality/value
– Practical explanation by experienced lawyers.
Understanding value co-creation in complex services with many actors
Authors: Pinho Nelson , Beirão Gabriela , Patrício Lia , P. Fisk Raymond 
Published: August 2014

Purpose
– The purpose of this paper is to explore the concept of value co-creation in complex value networks with many actors. Electronic health records (EHRs) are innovations that warrant deep study to properly introduce such a complex system.

Design/methodology/approach
– The paper describes a qualitative study based on Grounded Theory to understand value co-creation from multiple actors’ perspectives in a National EHR Service Project: the Portuguese Health Data Platform.

Findings
– Study results enabled further development of the value co-creation concept in complex environments with multiple actors. More specifically they allowed: operationalizing the value co-creation concept by identifying its factors and outcomes, understanding how value co-creation factors and outcomes are interconnected, and understanding of how value co-creation for each actor depends on his/her own actions and the actions of other actors, in a complex set of interactions and interdependencies.

Practical implications
– The findings have implications for service managers seeking to understand how actors participating in the network integrate resources and interact to co-create value. The study highlights the need for designing and managing services to co-create value, not only by enabling dyadic interactions between the customer and the service provider, but also by supporting and enabling value co-creation interactions among different actors in the network.

Originality/value
– This study responds to the need for empirical research on value co-creation in many-to-many contexts and for operationalizing the value co-creation concept.
The discounted cash flow model for property valuations: quarterly in advance cash flows
Authors: French Nick 
Published: August 2014

PurposeThere are three approaches to valuation: cost, market and income. As a subset to the income approach, the investment method looks at the pricing of assets that produce income over an investment holding period. The discounted cash flow (DCF) technique or model can be developed to look at the cash flows on a quarterly basis to reflect the actual receipt of the cash flows. This Education Briefing is a overview of the DCF quarterly model and the need to analyse comparables appropriately. The paper aims to discuss these issue.Design/methodology/approachThe DCF quarterly model can be seen to produce estimates of market value.FindingsAs the use of DCF is developed and expanded, it is useful to be able to model the cash flows appropriately.Practical implicationsThe old adage “value as you analyse” applies to DCF valuations. If valuing quarterly, then the analysis needs to be done on the same basis.Originality/valueThis briefing is an overview of the pricing of freehold rack rented properties in the UK.
Dynamic capabilities vs. innovation capability: are they related?
Authors: Breznik Lidija , D. Hisrich Robert 
Published: August 2014

Purpose– The purpose of this paper is to provide insights into the relationship between dynamic capabilities and innovation capabilities. It links dynamic capability with innovation capability and indicates the ways they can be related.Design/methodology/approach– The relationships between dynamic and innovation capability were investigated through a systematic literature review.Findings– The review indicates that common characteristics exist between of the both fields, which demonstrate six relationships. Additionally, findings show some inconsistencies and even contradictions.Originality/value– In this paper, the authors have compared dynamic capabilities, a relatively new approach in the field of strategic management, with innovation capabilities, a widely recognised crucial domain for sustained competitiveness. Since both areas address issues that are essential to today's environment, future research should seek to clarify both concepts, by undertaking some new research and developing comprehensive and unambiguous framework.
Export success factors of small- and medium-sized firms in Chile
Authors: O. Maldifassi José , Chacón Caorsi Javier 
Published: August 2014

Purpose– The purpose of this paper is to identify the factors that could help differentiate between successful and unsuccessful small- and medium-sized exporter firms.Design/methodology/approach– A causal model of the exporting process was developed from the literature, from which a set of hypotheses was posed and a questionnaire was made. A sample of 37 small and medium exporter firms in Chile was subject to the questionnaire. From the data collected, the critical aspects that could help differentiate between successful and unsuccessful exporting organizations were statistically identified.Findings– The following aspects are the ones that could allow the statistical differentiation of successful and unsuccessful exporter firms: incentives at the firm level for increasing output, improved operations planning, international quality assurance certification, large percentage of sales devoted to innovation, highly frequent innovations, qualified and innovative workers, local alliances for innovation, and the possession of strategic allies at destinationResearch limitations/implications– The results of this research can be useful for intending small and medium exporter firms in Chile, as well as for firms in other developing countries. The results are based on a rather small sample of exporting firms in Chile; therefore, the generalizability of the results cannot be assuredOriginality/value– A detailed model of the exporting process of small and medium firm (SMF) was developed that is a contribution of the theoretical framework related to SMFs’ exports. The findings could be used by government agencies to offer better guidance to SMF intending to become exporters
Determinants of best HR practices in Chinese SMEs
Authors: Newman Alexander , Z. Sheikh Abdullah 
Published: August 2014

Purpose– The purpose of this paper is to examine the factors which determine the adoption of best HR practices in Chinese small- and medium-sized enterprises (SMEs).Design/methodology/approach– Regression analysis was utilized to analyse survey data obtained from 345 enterprises operating across China in a wide range of industrial sectors.Findings– Enterprises with greater resources in terms of their size, their relationships with external organizations, their cooperation with foreign partners and the human capital of their CEO were found to be more likely to adopt best HR practices. Contrary to the findings of the existing literature no relationship was found of a relationship between family ownership and the use of best HR practices.Research limitations/implications– The cross-sectional design is an obvious limitation of the study. Other limitations relate to the generalizability of the study findings outside the context in which the research was undertaken, and the use of convenience sampling.Practical implications– Enterprises should consider building strategic relationships with external organizations and developing cooperation with foreign partners as a way of leveraging human resource expertise at a limited cost.Originality/value– This is the first study to examine how differences in the resource endowments of Chinese SMEs influence their adoption of best HR practices.
Does usage level of online services matter to customers’ bank loyalty?
Authors: Levy Shalom 
Published: August 2014

Purpose
– This paper aims to evaluate the relationship between the customer’s relative usage levels of online banking services and bank loyalty, and to examine the effect of customer satisfaction with the quality of online banking services and services’ convenience in this relationship. This study proposes a conceptual framework, integrating these factors.

Design/methodology/approach
– Data were collected from among traditional banks’ customers. The study uses a factor analysis method following path analysis, using AMOS 19 and structural equation modeling.

Findings
– The findings show a significant, direct and negative relationship between the relative usage level of online banking services and bank loyalty. However, a positive relationship was found to exist between bank loyalty and customer satisfaction with online service quality. An indirect positive relationship was also found to exist between services’ convenience through satisfaction with online banking service quality.

Practical implications
– The findings advance the idea that computer technology mediation reduces human interaction, and so may detract from customer loyalty. Service policy makers should invest in relation-based attachments with their online customers, enhance satisfaction with online quality service and sustain customer loyalty.

Originality/value
– Examination of the effect of variables related to online bank services usage and bank loyalty. This study contributes more value by understanding the effect of customers’ usage level of online services.
Functional vs relational benefits: what matters most in affinity marketing?
Authors: Koritos Christos , Koronios Konstantinos , Stathakopoulos Vlasis 
Published: August 2014

Purpose– The purpose of this paper is to classify and compare the importance of the benefits consumers derive from affinity credit card programmes.Design/methodology/approach– A random sample of affinity credit card holders of a major Greek athletic club (AC) was surveyed and a multi-group structural equation model was run to assess the hypothesised relationships among the study constructs.Findings– Overall, the relational benefits of affinity credit cards outperform the functional ones. However, this finding depends on the number of additional credit cards held by affinity credit card holders.Originality/value– The study is the first one to test formally the viability of a core services marketing theory (relational benefits) within the affinity marketing field as a means of explaining consumer behaviour within such a context.
Explanation information and source in service recovery initiatives
Authors: Baker Thomas , Meyer Tracy 
Published: August 2014

Purpose
– The purpose of this paper is to specifically consider two interactional aspects that are likely to contribute to the success of an explanation of why a service failed: the adequacy of information provided and role of the person providing the information.

Design/methodology/approach
– Two empirical studies were conducted using a between-subjects 2 (information: low vs high) × 2 (employee: frontline vs manager) experimental design. The first study was designed to better understand when the information provided might have a more positive impact on the customer. The second study was conducted to understand why the effects exist.

Findings
– In Study 1, an interaction effect was seen that suggests that the most positive outcome is when the manager (vs the frontline employee) provides a full explanation (vs limited explanation) of the mishap. Results from Study 2 indicate that source credibility is in play.

Research limitations/implications
– Participants were asked to respond to service failure and recovery scenarios using the same service context. The means of the outcome variables suggest that the recovery effort could be improved upon with other methods.

Practical implications
– Contrary to suggestions that frontline employees be responsible to resolve service failures, our studies reveal that service recovery initiatives involving an explanation only are best received when the manager provides the customer a full account of what went wrong.

Originality/value
– This research provides empirical evidence of when and why more information regarding the cause of a service failure is most positively received by the customer.