bluuebunny/crossref_metadata_2025_split huggingface dataset:
The effects of intangible investments on future OCF
Authors: Boujelben Saoussen , Fedhila Hassouna 
Published: October 2011

PurposeThe main purpose of this study is to investigate the relationship between intangible investments (R&D, advertising, training, software acquisitions and quality) and the ability of firms to generate future OCF (hereafter cash‐flow from operations).Design/methodology/approachThe authors developed dynamic panel models to estimate the relationship between intangible investments and three subsequent periods cash flows. These models are estimated using generalized method of moments (GMM), on a panel of 300 observations related to 50 Tunisian manufacturing firms and six years of data (2001‐2006).FindingsThe findings show a positive and significant effect of intangible investments on future operating cash flows. First, this result confirms the main hypothesis of resource based view (RBV). Second, it is found that investments in R&D, quality, and advertising have significant effects on future cash flows from operations. While the effect of R&D activities and quality persists until the third lagged period, the effect of advertising expenditures is rapid and temporary.Practical implicationsThe investigation provides an empirical validation on the role of intangible investment in generating and sustaining competitive advantage. The significant effect of R&D and quality expenses indicates the role of these activities in adding value to the firm product, and hence in the creation of competitive advantage which allows the firm to manage the components of its operating cycle, especially cash received from customers, resulting in superior future cash flows from operations.Originality/valueFirst, the use of cash‐flow basis, as an alternative approach to accrual basis, for intangibles valuation avoids the shortcomings of accrual‐based performance measures in forecasting future operating cash flows because of earnings management practices. Second, the majority of the research dealing with the valuation of intangibles has been conducted in the context of developed countries, therefore in terms of the relevance of intangible investments significantly less is known about emerging economies. The choice of Tunisia, in this regard, is a particularly important contribution to the research on emerging economies.
Mergers and acquisitions in the insurance sector: reducing information asymmetry
Authors: Fustec Alan , Faroult Tanguy 
Published: October 2011

PurposeAccording to several authors 50 per cent of mergers and acquisitions (M&A) operations destroy value. The aim of this paper is to study the reasons why it happens and to seek to reveal that intangible assets, which are increasingly important in today's economy, must be better assessed during the due diligence phase.Design/methodology/approachThe authors present a part of the French intangible assets measurement approach, which has been published by the French Intangible Assets Observatory. The methodology proposes an extended balance sheet which is an interesting addition to the IAS‐IFRS intangible standard. It identifies 12 classes of intangible assets including human capital and customer capital.FindingsThe paper proposes a due diligence approach, using the French methodology and applies it to the insurance sector.Research limitations/implicationsThis paper is not an academic paper. However, a significant research program is now underway in France. Academic publications are expected to be submitted.Practical implicationsThe practice of intangible due diligence is a key issue in today's increasingly intangible economy. This practice is on the verge of a very strong development.Originality/valueThe paper presents a systemic approach to intangible assets. It answers a key question: what are the main assets that are necessary to start and continue a process of value creation? Accounting only recognizes the intangible assets that are not overly volatile, for prudential reasons. But even if customers or teams are “too intangible” for accountants, they are required to generate cash flows. If they are not evaluated, the process of wealth creation is not under control. This is crucial in M&A.
Intellectual capital and firm performance in Australia
Authors: Clarke Martin , Seng Dyna , Whiting Rosalind H. 
Published: October 2011

PurposeThis study aims to examine the effect intellectual capital (IC) has on firm performance of Australian companies.Design/methodology/approachQuantitative data are collected for Australian companies listed between 2004 and 2008. IC is measured using Pulic's value added intellectual coefficient (VAIC) and its components (human, structural and capital employed efficiencies (HCE, SCE, CEE)). Direct and moderating relationships between VAIC, HCE, SCE, and CEE and four measures of performance are statistically analysed.FindingsThe results suggest that there is a direct relationship between VAIC and performance of Australian publicly listed firms, particularly with CEE and to a lesser extent with HCE. A positive relationship between HCE and SCE in the prior year and performance in the current year is also found. However evidence also suggests the possibility of an alternative moderating relationship between the IC components of HCE and SCE with physical and financial capital (CEE) which impacts on firm performance.Research limitations/implicationsThere are some missing data and some transgression of the assumptions of OLS regression.Originality/valueThis paper presents the first study of the IC relationship with firm performance in Australia. Inconclusive results from prior studies in developing countries suggested the need for a study from a developed country such as Australia. The paper is also the first to investigate whether IC moderates the relationship between CEE and firm performance.
Understanding the knowledge management‐intellectual capital relationship: a two‐way analysis
Authors: Seleim Ahmed A.S. , Khalil Omar E.M. 
Published: October 2011

PurposeKnowledge management (KM) and intellectual capital (IC) are believed to influence each other, and the relationship between the two constructs is of vital importance to organizational effectiveness. While a two‐way relationship between KM and IC is conceivable, the relevant empirical research has yet to produce satisfactory evidences on the nature of the relationship between the two constructs. This paper aims to empirically investigate the plausible KM‐IC two‐way relationship in the Egyptian software industry.Design/methodology/approachThis research adopts a cross‐sectional field survey strategy. It adopts a research model depicting a two‐way relationship between KM processes and IC dimensions. Two sets of hypotheses describing the predicted mutual influence between KM and IC are proposed. An instrument was adopted to collect the required data set on KM processes and IC dimensions from 38 Egyptian software firms. The partial least squares (PLS) procedure was used to assess the measurement model and test the research hypotheses.FindingsThe analysis revealed three patterns of relationships between KM and IC: one‐way influence from KM to IC (e.g. knowledge application influences each of human capital, organizational capital, and relational capital; one‐way influence from IC to KM (e.g. human capital influences knowledge acquisition and knowledge transfer); and two‐way influence between KM and IC (e.g. between knowledge documentation and organizational capital, between knowledge transfer and relational capital).Originality/valueContrary to most of the prior KM‐IC relevant research, this research has adopted a comprehensive research model and research method to facilitate the exploration of the mutual influences between KM processes and IC dimensions in the Egyptian software industry. To a certain extent, the research findings confirm and support the general proposition of a mutual KM‐IC relationship. These findings should contribute to the growing research efforts aiming at developing models that can provide a better explanation of the complex KM‐IC relationship phenomenon.
The role of boards in small and medium sized firms
Authors: Neville Mette 
Published: October 2011

PurposeThis paper aims to investigate the role of boards in owner‐managed small to medium‐sized enterprises (SMEs), and seeks answers to the questions of whether boards generally enhance good governance in SMEs, and whether the use of outside board members plays a significant role. Finally, the paper seeks to examine the question of whether in practice owner‐managers see their boards as a resource.Design/methodology/approachThe paper is based on a study of the ownership and control structure in 1,313 SMEs and an interview survey of 1,040 Danish owner‐managed SMEs.FindingsThe analysis of the empirical studies indicates that the role of a board as a resource is more important than its control role, which suggests that there should be a multi‐theory approach to board roles in SMEs. It also indicates that good governance appears to be associated with the existence of boards and of outside board members, and finally that boards in SMEs remain an untapped resource.Originality/valueThe paper contributes to the empirical literature on the role of boards. It contributes to the understanding of the role of boards in SMEs and to whether boards enhance good governance in SMEs. It also gives an insight as to whether boards are an untapped resource in SMEs.
Do fiduciary duties matter?
Authors: Warburton A. Joseph 
Published: October 2011

PurposeThe purpose of this paper is to explore whether fiduciary duties impact the behavior of firm insiders. Trust law imposes stricter fiduciary obligations on insiders than corporate law does. This paper seeks to examine whether the difference in fiduciary duties impacts agency conflict, performance, and/or risk taking.Design/methodology/approachThe paper takes an empirical approach to answering the question by comparing mutual funds organized as trusts and as corporations. The existence of these two types of organizations within the same industry offers a unique laboratory for the study of the effects of fiduciary duties.FindingsMutual funds organized in trust form charge significantly lower fees and take on less risk than equivalent mutual funds organized in corporate form. Evidence also suggests that the trusts tend to under‐perform their corporate counterparts, even after adjusting for differences in risk.Originality/valueMuch of the existing literature on firm governance and investor protection focuses on the corporation and, hence, takes organizational form as a given. By comparing trusts and corporations, this paper examines governance at a more fundamental level and exploits heterogeneity in corporate and trust fiduciary duties. The results have implications for corporate governance design, suggesting that heightened fiduciary duties can enhance investor protection by mitigating agency conflict and managerial risk taking, though at the possible cost of inferior risk‐adjusted performance.
The relationship between corporate governance, global governance, and sustainable profits: lessons learned from BP
Authors: Lin‐Hi Nick , Blumberg Igor 
Published: October 2011

PurposeThe recent oil spill disaster in the Gulf of Mexico as well as a multitude of other corporate scandals repeatedly draw attention to the importance of good corporate governance. This paper seeks to explain the possible reasons for violations of principles of good corporate governance in corporate practice.Design/methodology/approachThe paper opens with a brief illustration of the Deepwater Horizon case by relating BP's corporate governance rules to its actual decision making in the context of offshore drilling in the Gulf of Mexico. The insights gained through this analysis are used to identify a basic precondition for the realization of good corporate governance in corporate practice.FindingsThis paper finds a link connecting the conflicts in the relationship between short‐ and long‐term interests of corporations and good corporate governance. Occasionally, deficits in the institutional environment foster the pursuit of quick wins through violations of corporate governance rules. To resolve the tension between short‐ and long‐term objectives, good institutions are required that provide incentives for sustainable behavior without endangering corporations' short‐term competitiveness. This is the starting point for global governance efforts.Practical implicationsOn the basis of the analysis in the paper, new implications for business are derived with respect to the relationship between corporate and global governance.Originality/valueThe paper derives a theoretical framework that captures the relationship between corporate governance and global governance. This framework identifies an interplay between corporate and global governance that allows corporations to bring good corporate governance to life and thereby to invest in the conditions of their sustainable success.
Income differentials and corporate performance
Authors: Pryce Adrian , Kakabadse Nada K. , Lloyd Tom 
Published: October 2011

PurposeThis paper seeks to make the case for new research into the perceived fairness and impact of executive pay.Design/methodology/approachThe paper reviews the literature regarding executive compensation and corporate performance and examines the evidence that a more egalitarian approach to pay could be justified in terms of long‐term shareholder value.FindingsThere would appear to be no evidence to suggest that the growing gap between the pay of executives and that of the average employee generates long‐term enterprise value, and it may even be detrimental to firms, if not the liberal capitalist consensus on which the corporate licence to operate is based.Research limitations/implicationsThe paper outlines a new approach to tracking income differentials with corporate performance through the development of a corporate Gini coefficient “league table”.Social implicationsThe proposed research is expected to point towards better practice in executive remuneration, and support the growing momentum for a sustainable and enlightened approach to business, in which the key goal is long‐term enterprise value based on a fair distribution of the rewards of business.Originality/valueIn producing a deeper understanding of the impact of widening income differentials, the paper should be of interest to senior executives in publicly quoted companies as well as press commentators, government officials and academics.
A development program to improve leadership capability and employee engagement
Authors: Redman Jo 
Published: October 2011

PurposeThis case study aims to identify the tools and processes used to create a talent management engagement program to prepare, develop, train and engage SACO employees.Design/methodology/approachIt illustrates a training and development program to improve leadership capability and ultimately employee engagement, which was developed following a review of the company culture.FindingsPractical information is given on how SACO has rolled out a distinct, measurable program that can be uniquely adapted to each individual to improve employee engagement.Originality/valueThis case study shows how the program has enabled the company to attract, retain and develop the best staff and create a more ambitious and supportive company culture.
Talent development and strategy at telecom major Bharti Airtel
Authors: Anand Priyanka 
Published: October 2011

PurposeThe aim of this case study is to explore and understand the talent management innovations, practices and processes in a major telecoms company in India, Bharti Airtel.Design/methodology/approachThe paper is based on a study of the organization's talent management practices and a survey of executives, including in‐depth interviews with two key talent management executives, and a study of employees' perceptions of the organization's talent management and its impact.FindingsThe research revealed the organization's vision and methods for integrating talent management processes. Talent management is an important element of the development process for employees and is an organization‐wide practice. The process of effective management of the talent pool has led to enhanced employee engagement and reduced attrition and proportionately increased the average tenure of employees. The talent management strategy and processes have contributed in varying degrees to development and growth of employees.Research limitations/implicationsThis research is an elementary study posing the need for further research into the organization‐wide practice of managing talent.Originality/valueThe research addresses how talent management is perceived in a successful organization and examines the recognition and growing acceptance of talent management practices. Talent management is widely adopted by multinationals operating in India, however, most Indian organizations are either currently or soon to adopt the practice. They are dealing with issues such as whether talent management is an offshoot of HR processes or an independent developmental process, and how it will create a competitive advantage and enhance employee engagement. This case study shows how the adoption of talent management processes on an organization‐wide scale – not confined to the HR function – has helped the organization improve retention and development.
Combating health care fragmentation through integrated health service delivery networks in the Americas: lessons learned
Authors: Montenegro Hernán , Holder Reynaldo , Ramagem Caroline , Urrutia Soledad , Fabrega Ricardo , Tasca Renato , Alfaro Gerardo , Salgado Osvaldo , Angelica Gomes Maria 
Published: October 2011

PurposeThis paper aims to: analyze the challenge of health services fragmentation; present the attributes of integrated health service delivery networks (IHSDNs); review lessons learned on integration; examine recent developments in selected countries; and discuss policy implications of implementing IHSDNs.Design/methodology/approachA literature review, expert meetings, and country consultations (national, subregional, and regional) in the Americas resulted in a set of consensus‐based essential attributes for implementing IHSDNs. The analysis of 11 country case studies on integration allowed for the identification of lessons learned.FindingsStudies suggest that IHSDNs could improve health systems performance. Principal findings include: integration processes are difficult, complex, and long term; integration requires extensive systemic changes and a commitment by health workers, health service managers and policymakers; and, multiple modalities and degrees of integration can coexist within a system. The public policy objective is to propose a design that meets each system's specific organizational needs.Research limitations/implicationsThe analysis presented in this paper is qualitative.Practical implicationsSome policy implications for implementing IHSDNs are presented in the paper.Originality/valueThe research and evidence on integration remains limited. The paper expands the knowledge‐base on the topic, presenting lessons learned on integration and recent developments in selected countries, which can support integration efforts in the region.
Big society: a concept in pursuit of a definition
Authors: Hudson Bob 
Published: October 2011

PurposeThe purpose of this paper is to examine the conceptual and policy underpinnings of the UK Government's “Big Society” programme.Design/methodology/approachThe paper uses secondary research: a review and analysis of published sources – official and unofficial.FindingsThe “Big Society” concept is unclear but seems more focused upon extending the principle of markets than increasing community cohesion. This may do little to encourage the shared endeavour which is known to be necessary for service integration focused on individuals. Co‐production would be a better concept to underpin the Big Society.Originality/valueThere have been few attempts to undertake a broad analysis of the Big Society idea and critically explore the whole programme.
Multi‐agency transition services: greater collaboration needed to meet the priorities of young disabled people with complex needs as they move into adulthood
Authors: Clarke Susan , Sloper Patricia , Moran Nicola , Cusworth Linda , Franklin Anita , Beecham Jennifer 
Published: October 2011

PurposeDrawing on a wider study about the effectiveness and costs of different models of multi‐agency transition services, this paper aims to present new evidence on the ways in which such services meet the priorities and concerns of young people identified in previous research.Design/methodology/approachThe evidence is based on qualitative interviews with 130 managers and staff in five transition services across England, and a quantitative survey of parents and young people receiving these services (pre‐transition), or having received the services in the last‐two years (post‐transition). In total, 110 pre‐transition and 33 post‐transition parents, and 73 pre‐transition and 24 post‐transition young people, completed questionnaires. Statistical analysis included calculating frequencies and mean values for the responses that measured met and unmet need, and qualitative results were analysed thematically. The consequence of, and reasons for, the low response rate to the family survey are also discussed.FindingsThe research found examples of good practice and innovative services to meet young people's needs. However, provision of such services was patchy, and unmet need for transition support remained high in all the priority areas studied both during and after transition: ranging from 52 to 84 per cent in parent reports and 59 to 82 per cent in young people's reports.Originality/valueWith the onset of public service cutbacks, the paper concludes that improved multi‐agency commissioning of services, based on the priorities and concerns of disabled young people, and greater engagement of transition services with a broader range of agencies, will help to address these deficiencies.
Whole system care and social inclusion of people with sight loss: implications of key research for policy and service development
Authors: Percival John 
Published: October 2011

PurposeThis paper seeks to provide a distillation of key research on the health and social care needs arising in the lives of people with sight loss and aims to inform the development of appropriate and integrated services and strategies that effectively meet those needs.Design/methodology/approachThe body of research examined in this paper constitutes a purposeful review of the most recently published and relevant non‐clinical studies in respect of the needs and aspirations of people with sight loss.FindingsResearch highlights the emotional and psychological consequences of sight loss and reveals a range of factors that affect their independence and self esteem, household and family responsibilities, employment and financial status, housing options and neighbourhood access, and how these factors impact on social inclusion.Social implicationsImplications of the studies are discussed, particularly in relation to ways in which relevant service providers may cooperate and engage in creative partnerships that promote greater equality and social inclusion of people with visual impairment.Originality/valueThe paper provides a strong and timely argument for greater public policy attention to the demographic context and cost implications of an increasing population of people with sight loss, and in so doing is of value to professionals working across independent, state and third sector agencies, and their efforts to engage in collaborative and strategic working relationships as well as fruitful partnerships with service users themselves.