bluuebunny/crossref_metadata_2025_split huggingface dataset:
What does Merck & Co. v. Reynolds mean for the future of the statute of limitations defense in securities fraud litigation?
Authors: Weissman Andrew B. , Robinson Andrea J. , Davies Christopher , Valentine John A. , Titolo Theresa , Birlem Jennifer K. 
Published: September 2010

PurposeThe purpose of this paper is to analyze the US Supreme Court's April 27 decision in Merck & Co. v. Reynolds as it affects the statute of limitations defense in securities fraud cases.Design/methodology/approachThe paper explains the background of the Merck opinion, including the limitations period under 28 USC §1658(b)(1) for private securities fraud cases, a District Court dismissal of the original complaint, and a Third Circuit reversal; outlines three principles articulated by the US Supreme Court for applying §1658(b)(1) to securities fraud claims; and discusses what the Merck decision means for private securities fraud litigation.FindingsThe Merck decision is likely to affect private securities fraud litigation in several ways, most of which will benefit plaintiffs, who will argue that their claims are not time‐barred because the two‐year statute‐of‐limitations clock begins to run later.Originality/valueThe paper provides practical guidance by experienced securities lawyers.
SEC proposes large trader reporting system
Authors: Sacks Russell D. , Blankenship Michael J. 
Published: September 2010

PurposeThe purpose of this paper is to describe the Securities and Exchange Commission's recently proposed new rules to establish a large trading reporting system.Design/methodology/approachThe paper provides an overview of the new Rule 13h‐1, which, if adopted, would require large traders to identify themselves to the SEC and to be issued a “Large Trader Identification Number”. It outlines the proposed definition of a large trader and describes how a large trader would report itself to the SEC and the broker‐dealers it uses to effect trades using a new Form 13H. The paper also provides detailed guidance to broker‐dealers regarding their books and records obligations under the proposed rule.FindingsThe proposed new rule and form are intended to provide the SEC with data to facilitate its ability to assess the impact of the trading activity, to reconstruct trading activity following periods of unusual market volatility, and to analyze significant market events for regulatory purposes. Registered broker‐dealers would also be under an obligation to maintain records of transactions effected in accounts identified to it as large trader accounts; electronically report large trader transaction information to the SEC upon request; and monitor compliance with the new rule.Originality/valueThe paper provides practical guidance from experienced securities lawyers regarding an important proposed change.
SEC adopts amendments to regulation SHO
Authors: Forbes Jessica , Gnall Gregory P. , Lombardo Christine M. 
Published: September 2010

PurposeThis paper aims to explain the SEC's new Rule 201 and amended Rule 200(g), which are designed to improve the regulations that address harmful shortselling practices.Design/methodology/approachThe paper summarizes Rule 201, discusses the reasoning behind the “alternative uptick rule”, defines “covered securities” to which Rule 201 applies, explains why the commission chose the national best bid as the basis of the execution of short sales during the circuit breaker period, discusses the SEC's policies and procedures approach, explains conditions under which a broker‐dealer submitting a short‐sale order after the circuit breaker is triggered submitting a short sale order after the circuit breaker is triggered may mark the order “short exempt,” explains the reason an exception for market making activities is not included in the rule, and discusses the implementation period and the need for broker‐dealers to develop new policies and procedures.FindingsBroker‐dealers and other market centers will need to dedicate significant compliance and systems resources to develop the policies and procedures and systems enhancements necessary to comply with the rule.Originality/valueThe paper provides practical guidance from experienced securities lawyers.
FINRA proposes to require registration of back office and operations personnel
Authors: Weissmann Michael R. , Tyrrell Paul M. 
Published: September 2010

PurposeThe purpose of this paper is to explain FINRA's proposed new registration category, qualification examination, and continuing education requirements for certain back office and operations personnel, as published in Regulatory Notice 10‐25, which would add an addendum to proposed Rule 1230.Design/methodology/approachThe paper explains the background to the proposed rule, who “covered persons” are, what “covered functions” are, the purpose and content of the new qualification examination, exceptions to that examination, continuing educational requirements for operations professionals, and the proposed timing of the new requirements.FindingsFINRA believes that licensing and education requirements for certain operations personnel are needed to help ensure that investor protection mechanisms are in place in all areas of a member firm's business that could harm a customer, a firm, the integrity of the marketplace or the public.Practical implicationsThe breadth of the proposed rule will likely require firms to register significant numbers of back office and operations personnel who currently, under existing rules, are not required to be registered.Originality/valueThe paper provides practical guidance from experienced broker‐dealer lawyers.
Summary of selected FINRA regulatory notices April‐June 2010
Authors: Davis Henry A. 
Published: September 2010

PurposeThe purpose of this summary is to provide excerpts of selected Financial Industry Regulatory Authority (FINRA) Regulatory Notices and Disciplinary Actions issued in April, May, and June 2010.Design/methodology/approachThe paper provides excerpts from FINRA Regulatory Notice 10‐18, Master Accounts and Sub‐Accounts; 10‐22, Regulation D Offerings; 10‐23, Trade Reporting and Compliance Engine (TRACE); 10‐24, Trade Reporting; 10‐27, Customer Complaint Reporting; and 10‐30, Trading‐Pause Pilot Program; provides summaries of selected disciplinary actions.Findings(10‐18) If a firm has notice that the sub‐accounts of a master account have different beneficial ownership (but does not know the identities of the beneficial owners) or the firm is privy to facts and/or circumstances that would reasonably raise the issue as to whether the sub‐accounts, in fact, may have separate beneficial owners, then the firm must inquire further and satisfy itself as to the beneficial ownership of each such sub‐account. (10‐22) A broker‐dealer has a duty – enforceable under federal securities laws and FINRA rules – to conduct a reasonable investigation of securities that it recommends, including those sold in a Regulation D offering. (10‐23) On February 22, 2010, the SEC approved the second major proposed expansion of TRACE to include Asset‐backed Securities as TRACE‐Eligible Securities, to require the reporting of Asset‐backed Securities transactions and to establish reporting fees. (10‐27) Starting on July 1, 2010, the beginning of the third calendar quarter, firms must use revised and new product codes to report statistical information regarding written customer complaints relating to annuities and life settlement products. (10‐30) On June 10, 2010, FINRA began a pilot program in which it will halt trading otherwise than on an exchange with respect to securities included in the S&P 500® Index where the primary listing market has issued a trading pause due to extraordinary market volatility. Selected disciplinary actions: FINRA announced that it has settled charges with two additional firms relating to the sale of auction rate securities (ARS) that became illiquid when auctions froze in February 2008. FINRA announced that it has fined five broker‐dealers a total of $385,000 for the illegal sale of more than 8 billion shares of penny stock on behalf of their customers.Originality/valueThese are direct excerpts designed to provide a useful digest for the reader and an indication of regulatory trends. The FINRA staff is aware of this summary but has neither reviewed nor edited it. For further detail as well as other useful information, the reader should visit www.finra.org.
Determinants of all‐inclusive travel expenditure
Authors: Anderson Wineaster 
Published: September 2010

PurposeThis paper aims to examine the determinants of the expenditure for the all‐inclusive (AI) package tourists.Design/methodology/approachUsing a visitor exit‐survey, a total of 843 all‐inclusive tourists visiting the Balearic Islands were involved. Then, a least square regression model was estimated, with the two dependent variables (logarithm of average daily expenditure in the country of origin and logarithm of average daily expenditure in the destination) while sharing the same explanatory variables (visitor and travelling attributes) to determine the variables which are more associated with the respective expenditure category.FindingsIt was found that the presence of the AI holiday experience at the destination as well as visitor and traveling attributes, were the important contributing determinants of expenditure either at home or destination economies. Noticeably, the tourist who could have visited the Balearics even in the absence of the AI holidays has spent more money compared to the tourist who could not have visited the destination. This implies that the kind of the customers the AI tourism tries to attract have the least economic contribution.Practical implicationsExpenditure patterns are always important element for tour organizers and marketers when planning, designing and delivering their products. With the intention of maximizing the tourism benefits the destination management could focus on the variables which have positive impact on the expenditure with the aim of capturing the consumer surplus which is central element of the economy. The study gives the insights.Originality/valueWhile the determinants of tourism expenditure have been widely studied in tourism literature little is still known on the same determinants for the specific tourism segments like the all‐inclusive tourism. It is niches or segments that make up the total tourism market; unfortunately most researches focus on the total market while ignoring its niches. This study is an effort to focus on individual tourism niches.
Loyalty programmes as a tourism service sales channel: a Spanish multi‐sponsor programme case study
Authors: Manuel Ponzoa Casado José , Reinares Lara Pedro 
Published: September 2010

PurposeThe relevance of this study lies in the search for alternative sales channels, not originally intended for this end, at a time of general crisis within the tourism sector. In spite of the great number of companies from the tourism sector that join multi‐sponsor loyalty platforms and the high volume of tourism service offers (flights, journeys, hotel accommodation, etc.) made and accepted through this medium, little is known about basic aspects for the management of such companies' participation. The paper aims to investigate this issue.Design/methodology/approachUsing data from a leading programme in the Spanish market over a wide period of time – ten years and nearly 100,000 point redemptions have been analysed – additional sales in different tourism service categories, related with the redemption of points, have been evaluated by comparing them with other offers made.FindingsTourism service offers are indeed one of the reward choices most popular among cardholders. In order to obtain tourism offers the consumer usually makes up their points total in the programme to the required level by making additional payments. It is important to classify cardholders according to their point credit‐rating (the rate at which they accumulate points in the programme) and make them offers in accordance with their preferences.Practical implicationsThe benefits that a tourism service provider may obtain by joining a multi‐sponsor loyalty programme and including its services as reward offers are discussed. For programme managers information and conclusions relevant to reward catalogue design are also expounded.Originality/valueThis paper helps tourism service providers to take decisions with regard to joining a multi‐sponsor loyalty programme by reviewing important issues relating to both point redemption and sales.
Relative efficacy of organizational support and personality traits in predicting service recovery and job performances: a study of frontline employees in Turkey
Authors: Yavas Ugur , Karatepe Osman M. , Babakus Emin 
Published: September 2010

PurposeThe purpose of this paper is to examine the relative efficacies of a set of organizational support mechanisms and personality traits in predicting frontline employees' service recovery and job performances.Design/methodology/approachData were gathered through self‐administered questionnaires. A sample of 723 frontline hotel employees in Turkey serves as the study setting.FindingsThe study results show that organizational support is more effective in differentiating between high‐ and low‐performing frontline employees in the case of service recovery performance. However, job performance overall is more susceptible to the influences of personality traits.Research limitations/implicationsReplication studies in other regions of Turkey and other countries among frontline employees in the hotel industry as well as other service settings would broaden the database for further generalizations. Including other organizational support mechanisms (e.g. technology support) and personality traits (e.g. customer orientation) would shed further light on our understanding of the relative roles of organizational support and personality traits in predicting frontline employee performance.Practical implicationsIn addition to providing organizational support to their employees, hotel managers should recruit individuals with the relevant personality traits for frontline service jobs. Using these strategies in tandem increases the likelihood of having high‐performing employees.Social implicationsFrom a macro standpoint, implementation of the strategies discussed here will benefit the hotels in Turkey which are in stiffening competition with their counterparts.Originality/valueThe study adds to the body of knowledge by investigating simultaneously the relative efficacies of organizational support and personality traits in predicting service recovery and job performances of frontline hotel employees in a developing economy.
Projects are emotional
Authors: Clarke Nicholas 
Published: September 2010

PurposeThe purpose of this paper is to offer insights into how emotions can influence project manager behaviours and decisions specifically within the context of undertaking their roles in relationship management in projects. It shows that the emotional awareness of project managers may be a factor that helps to explain how project managers may arrive at decisions that affect their inter‐personal relationships on projects.Design/methodology/approachThe paper is set within the context of follow‐up interviews conducted with 15 project managers who attended emotional intelligence training that provided in‐depth, rich qualitative data that was collected making use of a critical incident technique, and analysed using a semi‐emergent theme approach.FindingsThe data suggest that project managers are consistently subject to emotion generating situations during project management and their emotional awareness plays a part in determining how they potentially respond to the emotional information generated. Emotional awareness was found to be particularly significant in underpinning decisions and behaviours that were likely to affect the subsequent pattern of inter‐personal relationships in projects.Originality/valueThe impact of emotions in projects has received minimal attention in the literature to date. The findings suggest that project managers may respond differently in similar emotion generating circumstances dependent upon their levels of emotional awareness. This would help explain the limitations of a strictly rational and functionalist approach to fully account for effective project management practice.
Project owner involvement for information and knowledge sharing in uncertainty management
Authors: Terje Karlsen Jan 
Published: September 2010

PurposeThe paper aims to investigate the communication of uncertainty information and knowledge between the project manager, owner and steering group. The purpose of the project is to identify the effects of project owner and steering group involvement in the process of uncertainty management.Design/methodology/approachThe empirical data are based on a qualitative case study with in‐depth interviews following a semi‐structured approach. The building of new frigates, a project in the Royal Norwegian Navy, is studied. This is a large public technology project, with a great deal of media and public attention from Norwegian society.FindingsThe project owner and steering group involvement in the project's uncertainty management process were identified. The interviews revealed that uncertainty information and knowledge have frequently been communicated and shared. The results indicate that this has reduced the asymmetric information problem between the parties. This involvement has also contributed to building a collaborative, respectful, professional and trusting relationship between the parties. Another effect that was found is that the project owner has learned about uncertainty management and developed uncertainty consciousness. Moreover, the data indicate that the uncertainty information has helped the project owner develop a holistic view for improved decisions.Research limitations/implicationsFuture research should investigate other scenarios, types of projects, cultures and countries, so that these findings may be generalized.Practical implicationsThe paper concludes that project owner involvement and communicating uncertainty information are important for the effective management of uncertainties and achieving project success.Originality/valueThe involvement of the project owner and the communication of uncertainty information between the project manager and the owner are studied in this research paper.
A systemic view of dispute causation
Authors: Love Peter E.D. , Davis Peter R. , Ellis Joanne M. , Cheung S.O. 
Published: September 2010

PurposeA considerable amount of research has been undertaken with regard to the dispute causation within construction project management. Research has eschewed identifying the interrelatedness of variables, which has blurred researchers understanding of dispute causation and lead to latent work practices being embedded within the contracting environment within which projects are procured. With this in mind, this paper attempts to identify the underlying dynamics influencing disputes through the use of causal modeling.Design/methodology/approachUsing the concept of system dynamics a series of causal models are developed from the literature to demonstrate the complexity associated with dispute causation.FindingsIt is revealed that project management, organization and people are the main sources of disputes. Causal models are constructed for each of these constructs and a series of strategies for avoiding disputations identified.Originality/valueThe research has demonstrated the inherent complexity associated with disputes and identified the interrelatedness of factors that can lead to their causation. It is suggested that further empirical research is required to determine the recurring latent conditions that contribute disputes. Once these conditions are examined then effective strategies for dispute avoidance can be identified and advancement toward improving the performance of construction projects made.
Toward a regional ontology for information systems project management
Authors: Sewchurran Kosheek , Smith Derek , Roode Dewald 
Published: September 2010

PurposeThe paper aims to paper an overview of a completed doctoral thesis which pursued the development of underlying theory (ontology) to give coherence to research in the information systems (IS) project management space.Design/methodology/approachAs a result of the considerable concern about a lack of underlying theory in project management the author has chosen to investigate the development of underlying theory to serve as a regional ontology to give debates undertaken to improve IS project management coherence. The thesis is a critical interpretive a priori effort. In the pursuit of the goal of developing a regional ontology, the notions, concepts and theories related to existentialism and social construction were investigated. These were investigated because the research literature places considerable emphasis on the need to understand as‐lived project experiences.FindingsOne of the significant outcomes that results from this research is the development of a proposed regional ontology. This was achieved by fusing the theories of Heidegger's Dasein, Bourdieu's “Theory of practice” and Maturana and Varela's “Theory of living systems”. The regional ontology is a consolidation of the various concepts defined by these researchers. These theories complement each other to give rise to a relational model of social construction which also has related phenomenological, existential and biological perspectives.Practical implicationsThe proposed ontology was interpreted using the popular alternatives that have recently emerged alongside the established best practices such as project management body of knowledge. The perspectives of complex, responsive processes of relating, the temporary organisation, agility and organisational becoming were reviewed using the regional ontology. The interpretation process illustrated that the regional ontology is able to provide a more fundamental and coherent context to subsume and delimit these emerging new frames.Originality/valueThe thesis also discusses the researcher's view of contemporary project management practice that accords with the regional ontology principles. Through argument and the contemporary context of IS project management practice that was sketched, the principles of the regional ontology are illuminated. Through this process it was possible to claim that established best practice modes of education should not exist in isolation but should instead be situated within a wider analogical context that embraces the values of learning, becoming and innovating.