bluuebunny/crossref_metadata_2025_split huggingface dataset:
Ten steps to enterprise‐wide risk management
Authors: Burnaby Priscilla , Hass Susan 
Published: January 2010

PurposeThe purpose of this paper is to discuss the objectives of enterprise‐wide risk management (ERM), the Committee of Sponsoring Organizations (COSO) ERM Framework, and outline a method to implement ERM in organizations.Design/methodology/approachThis paper delineates ten steps organizations can use to develop a viable ERM system for any organization.FindingsIt is highly recommended that a high‐level risk officer with visible support from senior and board level executives has a separate function to oversee the development of an ERM department.Practical implicationsAlthough the internal audit department has a large role in evaluation and monitoring the ERM system, it is management's responsibility to develop a strong ERM function that ties corporate strategy, the budget, controls, and the entity's performance measurement systems to risk management.Originality/valueThe cost to the entity of implementing and maintaining of an ERM system is grossly out‐weighed by the results and knowledge gained in evaluating, assessing, and overseeing risk to insure achievement of strategic objectives over the short‐ and long‐term life of the organization.
The duty to negotiate in good faith
Authors: Barasnevicius Quagliato Pedro 
Published: January 2010

PurposePrecontractual liability may be imposed when a party acts in bad faith to damage the other party, when a party negotiates in order to discover business secrets with no intention of reaching a final agreement, or when a party to a non‐binding letter of intent terminates negotiations during a later phase of negotiations without legitimate reason. The purpose of this article is to clarify the concept of the duty to negotiate in good faith, either for Civil Law or Common Law system practitioners.Design/methodology/approachThe paper describes the concept of good faith and fair dealing and its effects on the negotiation process. After establishing this description, we will analyze the differences in the interpretation and the application of the concept of good faith in the pre‐contractual procedure. The article explores the Civil Law approach for this matter, followed by the Common Law approach. In order to illustrate the Common Law System, we will focus on English and American Law, while we will look mainly at German, Brazilian and French Law to illustrate the Civil Law. In the conclusion, we will compare the approaches of the two systems.FindingsThe obligation of good faith in negotiation is found practically in all civil law system countries and generally provides a remedy for a wrongful conduct produced by a bad faith act. However, there is no general rule in Common Law requiring the parties to negotiate in good faith. We are in favor of applying a more expansive view of good faith obligations for international business transactions involving two or more different countries from these two different legal systems (civil law and common law), so as to apply them to the duty to negotiate arising from preliminary agreements and negotiations.Although there is no general rule about pre‐contractual liability in the common law system, we strongly believe that the existing body of case law and statutes may punish a party which engages in unfair conduct at the pre‐contract stage if the parties had signed a letter of intent or a memorandum of understanding, requiring them expressly and clearly to “act in good faith” and/or “to use their best efforts to reach an agreement”.Originality/valueThis article has discussed a relatively unexplored area related to the obligation of good faith in negotiation either for civil law and common law's practitioners. Our research has highlighted the complexity of this matter between these two legal systems, and has helped to the identification of the concept of good faith in a relation between two or more parties.
Credit union regulation and the financial services authority: less is more, but better!
Authors: Baker Andrew 
Published: January 2010

PurposeThe UK's financial watchdog, The financial services authority (FSA) took over prudential regulation and control of credit unions on 2nd July 2002. The purpose of this paper is to assess the impact of the new regulatory framework and its impact on the continued poor perception of credit unions among users of financial services products. It also aims to assess what the future may hold for the direction of the UK credit union sector.Design/methodology/approachAn assessment is made of the impact of the new regulatory framework and its impact on the continued poor perception of credit unions among users of financial services products. Also, an assessment is made of what the future may hold for the direction of the UK credit union sector.FindingsThe paper finds that credit union membership is growing, as are members’ deposits and loans, however at the same time the numbers of individual credit unions are falling. Overall, with supervision and regulation passing to the FSA, the outlook for credit unions in the UK is better than at any time in their history. The result of the new regime will ultimately lead to a strong, secure and professional credit union sector, capable of meeting the credit needs of a wide range of persons.Originality/valueThe paper provides a useful overview of the history and present status of UK credit unions, and the effects of recent legislation and regulation.
The ethics of corporate governance
Authors: Koslowski Peter 
Published: January 2010

PurposeThe 1990s brought a strong dominance of the US model of corporate governance, setting the continental European model at a disadvantage. Due to the financial crisis, the shareholder dominated Anglo‐American model has lost much of its evidence. The purpose of this paper is to try to come to terms with this development.Design/methodology/approachThe paper compares the American model of corporate governance shaped by the idea of the capital market as the market for corporate control and the Continental European model shaped by the idea of consensual decisions and co‐determination of stakeholder groups. The paper uses as the main parameters the dominant features of both models, the capital market orientation in the case of the American and the consensus orientation in the case of the Continental European model and demonstrates the strengths and shortcomings of both models. It analyses the idea of the purpose of the firm and its impact on the formation of the legal and ethical rules of the corporation.FindingsThe paper finds that different concepts of the firm's purpose lead to different concepts of the firm, to a shareholder or a stakeholder concept of the firm. Basic models of philosophical theory like purpose, agency and consensus are used to describe foundational ideas of the theory of the firm.Originality/valueThe philosophical foundational concepts of the firm discussed in the paper add new insight to the discussion about corporate governance and allow a better understanding of the underlying models of corporate governance. They make the differences and the common features of the American and European models visible.
The ethics of corporate governance
Authors: Rossouw G.J. 
Published: January 2010

PurposeThe purpose of this paper is to investigate whether there is a global divergence or convergence with regard to the ethics of corporate governance.Design/methodology/approachRegional perspectives on the ethics of corporate governance from four regions, namely, Africa, Asia, Continental Europe and North America are first briefly introduced and characterized in terms of distinctions between the ethics of governance and the governance of ethics, internal and external corporate governance, and shareholder and stakeholder orientations to corporate governance. Thereafter these regional perspectives are compared in order to determine whether there is a global divergence or convergence with regard to the ethics of corporate governance amongst these four regions of the world.FindingsThere are four factors that potentially may have an impact on the ethics of corporate governance, namely, patterns of ownership, the prevailing view of the role of the firm in a society, cultural and societal norms, and socio‐political priorities. The influence of these factors makes a global convergence on the ethics of corporate governance neither likely nor desirable.Research limitations/implicationsNot all regions of the world were included in this comparative study. Regions that need to be included in future studies are Latin America, Central Asia and the Middle East.Practical implicationsThe main finding, namely, that a global convergence on the ethics of corporate governance is neither likely nor desirable, should be taken into consideration by promoters of global corporate governance standards.Originality/valueBased on regional perspectives from Africa, Asia, Continental Europe and North America, the paper provides a global perspective on the question of whether there is global divergence or convergence with regard to the ethics of corporate governance amongst these four regions of the world.
Analysis of the functions of supervisory board system in modern Chinese companies
Authors: Tian Xiangang 
Published: January 2010

PurposeThe supervisory system of modern Chinese companies has basically adopted the supervisory board system of countries of continental law system. Certain disadvantages, however, exist in the system and the purpose of this paper is to identify those disadvantages and suggest changes.Design/methodology/approachThis paper draws upon a consideration of the policy objectives and assesses the practical gaps in implementation through a consideration of case‐studies.FindingsThere are many functions and manifest functions of the supervisory board system of modern Chinese companies. Certain disadvantages, however, exist in this system: the postmortem nature of supervision causes the failure of timely supervision, and the externality of supervision leads to information asymmetry. Meanwhile, the functions of supervisory board are weakened by the fact that the law does not impose positive qualification requirements for supervisors and that the law has not laid down specific regulations for the effective deliverance of the company's financial and business information to the supervisors and the supervisory board. In order to guarantee the realization of the functions of the company's supervisory board, we should perfect in legislation the supervisory board system of our country, and at the same time strengthen the construction of company supervisory board system in our country and other relevant supervisory mechanism and supporting systems. Originality/value – This paper presents an analysis of “gaps” in policy implementation and might influence reform in this area.
Europeanization, globalization and domestication: financial services regulation in the UK
Authors: Howell Kerry E. 
Published: January 2010

PurposeThe purpose of this paper is to investigate conceptualizations of Europeanization, the difficulties this creates when assessing the impacts of the European Union (EU) on member states and the influence member states have on the EU policy‐making processes. There are also problems when considering questions regarding the basis of Europeanization in terms of its relationships with globalization, governance, institutionalization, polity, politics and policy.Design/methodology/approachDifferent conceptualizations of Europeanization concentrate on distinct methodological positions and whether Europeanization may best be understood as “situation” or “process”. Indeed, difficulties are further exacerbated when identifying the extent that drivers for change at the EU and domestic level involved Europeanization, domestication, globalization and/or European integration. Meso theory identifies “process” and substantive theory “situation” in terms of downloading (En1), up‐loading (En2) and cross‐loading (En3). Each of these conceptualizations allow “situations” where empirical reliability could be made explicit from a particular perspective.FindingsThis paper investigates and assesses the Europeanization of UK financial services and provides a conceptualization of Europeanization as both meso (middle range) and substantive theory. By breaking down meso theory into substantive theories (up‐loading, downloading and cross‐loading) the analysis attempts to clarify the interaction between Europeanization, globalization and domestication in relation to impacts on UK financial services regulation. Following an assessment of UK financial services in general, this paper concentrates on the concept of “competent authority” and how the UK Financial Services Authority (FSA) displays attributes outlined in the directives. Through an analysis of the Third Life Assurance Directive, Second Banking Directive and FSA this paper identifies a number of issues relating to how the EU responded to sector demands and how Europeanization is actualized through domestic response.Originality/valueEuropeanization indicates a continual interaction or dialectic between the uniformity of the EU and the diversity of the individual member states. The process involves interaction between global, domestic and European variables with the European dimension in relation to domestic interpretation providing a mechanism whereby dominant economic global factors can be diminished or enabled.
A consideration of the impact of the Companies and Allied Matters Act (1990) and the Insurance Act (2003) on the board of insurance companies in Nigeria – part 2
Authors: Ogbuozobe Fidelis 
Published: January 2010

PurposeThis paper aims to answer the question of whether the incorporation of corporate governance into the Companies and Allied Matters Act (CAMA) and Insurance Act enhance the effectiveness of the boards of insurance companies in Nigeria?Design/methodology/approachThe researcher's approach is the deductive approach in which a theory and hypothesis have been developed and a research strategy to test the hypothesis.FindingsArguably, most of the companies implementing the code are public companies, probably because it is a listing requirement or it is fashionable to do so, but this study has shown that implementation for both private and public companies is on the upward trend albeit, at a slow pace which is the area the government and regulatory authorities need to do more work. While acknowledging the effort of regulators like the SEC and CBN (Thisday), the result is still not encouraging.Originality/valueFrom the results of this study, one of the most respected provisions of the code is the audit committee requirement, of which companies in Nigeria, both private and public, ensure strict compliance because it is a provision of the law and no company will want to infringe this stringently enforced requirement. Therefore, if other provisions were to be part of the CAMA (1990) or any other statute it means such provision will enjoy the same level of compliance, assuming the same level of enforcement.
When the pursuit of quality risks innovation
Authors: Cole Robert E. , Matsumiya Tsuyoshi 
Published: January 2010

PurposeThe purpose of this paper is to examine the possible impediments to radical innovation created by the pursuit of quality improvement in the dynamic hi‐tech sector.Design/methodology/approachFirst examines contributions and limitations of extant literature. Then analyzes three cases from the Japanese hi‐tech sector, dynamic random access memory chips , network equipment, and system integration, to understand the conditions under which the pursuit of quality creates impediments for radical innovation.FindingsIdentifies a number of mechanisms, beyond the existing literature, through which the quality culture of Japanese hi‐tech firms can inhibit innovation. Particular attention is paid to the risk averse culture that may be created, thereby damaging the potential to develop radical innovation. Some exploratory strategies are offered through which firms might minimize these problems.Originality/valueThe ways in which the quality culture of Japanese hi‐tech firms poses a challenge for innovation are explored and some exploratory views on how Japanese firms might meet this challenge are offered. Above all, the paper calls for firms to think more strategically and flexibly about the role of quality at the early stages of the product cycle for hi‐tech products.
Perceptions and reality in quality and environmental management systems
Authors: Craig John H.S. , Lemon Mark 
Published: January 2010

PurposeThe aim of the original and recent research in this study is to determine why, in these rapidly developing economies, management systems such as TQM, ISO 14001 and ISO 9001 fail to realize continuing improvement and remediation methodologies capable of improving technical performance and enhancing economic profit.Design/methodology/approachThe research uses cultural frameworks to analyze the mechanisms which are preventing a greater realization of opportunities in the improvement of management systems, going on to suggest interventions. Within this approach there were three modes of data collection, an administered Likert questionnaire (developed from prior research in Poland, and pre‐tested in Lithuania, Greece and the UK) comprising every manager in the management levels of 12 heavy industrial factories in China and Poland, interviews with the senior managers, and the determination of the empirical (true) reality for environmental performance in each factory. Analysis of these data sets supported an evaluation of the alignment between perceived and actual environmental performance, and a comparison within and between countries.FindingsThe interactions between management levels were influenced by socio‐cultural factors, which in turn determined the means of communicating knowledge between these levels. This might have affected the perceptions and mind‐sets of employees in the management chain, and hence the practical effects of any decisions based on concomitant mind‐sets “on the ground”. New management systems might not be properly understood owing to these factors.Research limitations/implicationsWhile the specific environmental impacts of culture were particular to each factory and cannot be generalized, the socio‐cultural phenomena on which they were based can be used for comparative purposes. There was a practical constraint, despite promises of confidentiality, on how questions were answered owing to a prevailing fear and punishment practice; in a process of remediation the constraint will be the reluctance of managers to step outside of this practice.Practical implicationsThe practical outcomes of the study lie mainly in the re‐alignment of management perceptions subject to hierarchical constraints and cultures of dubious value.Originality/valueThe methodology, which included an assessment of the actual and potential risk to the environment for each factory (empirical reality), matched against cultural indicators is quite new. The paper has three areas of potential value: to researchers who wish to use a combination of soft and hard interpretations for environmental and quality performance; to management practitioners who can better interpret how the nature of communication between management interfaces affects the ability to take remedial action; and to academic researchers in a better understanding of socio‐cultural group dynamics.
An investigation on the factors influencing passengers' loyalty in the North Cyprus national airline
Authors: Nadiri Halil , Hussain Kashif , Haktan Ekiz Erdoğan , Erdoğan Şamil 
Published: January 2010

PurposeThe aim of this study is twofold: first to diagnose service quality perceptions of airline passengers and then links these perceptions to their satisfaction and repurchase intentions, specifically in a new emerging market in the Mediterranean region, North Cyprus. Airline transportation is a major and the most extensively used way to reach North Cyprus, as it is an island state; thus it is important to know passengers' quality perception regarding any quality improvement.Design/methodology/approachA recently developed, industry‐specific, 43‐item scale (AIRQUAL) based on eight distinct dimensions: airline tangibles, terminal tangibles, personnel, empathy, image, customer satisfaction, repurchase intention, and word‐of‐mouth communication fit well in this study, maintaining its reliability, validity and dimensionality issues. The sample of the study consisted of customers using the national airline company of North Cyprus, who were selected through the non‐probability judgmental sampling technique. A total of 583 questionnaires were found to be useful and data from these questionnaires were tested through SPSS and LISREL statistical software.FindingsA rigorous statistical test indicates a reasonable fit of the eight‐factor model to the data on the basis of a number of fit statistics. Results revealed that, among the quality dimensions, “airline tangibles” was found to be the most significant to affect both customer satisfaction and repurchase intention. Findings also showed that customer satisfaction is positively related to repurchase and word‐of‐mouth intensions.Originality/valueSince airline transportation is a major and the most important way of reaching North Cyprus, the results of this study provide important insights to practitioners and the tourism ministry about how marketing strategies can be designed to manage service quality perceptions and how the airline industry can use the service quality concept to formulate marketing strategies effectively.
Affective design of waiting areas in primary healthcare
Authors: Ayas Ebru , Eklund Jörgen , Ishihara Shigekazu 
Published: January 2010

PurposeThis paper seeks to deal with affective design of waiting areas (servicescapes) and has twofold aims. The first, is to explore affective values for waiting areas. The second, is to identify interactions between physical design attributes and affective values.Design/methodology/approachThis study included a free association method for data collection, applying Kansei engineering methodology to extract design solutions relating to specific feelings. The study was undertaken at six primary health centres in Östergötland County, Sweden. In total, 88 participants (60 patients and 28 staff) were interviewed.FindingsThe selected waiting areas show significant differences for their perceived affective qualities. The most desired feeling for creating affective values is found to be “calm”. The core design attributes contributing to this feeling are privacy, colours, child play‐areas and green plants. Good design of lighting, seating arrangements and a low sound level are also important design attributes to give a more complete design solution.Research limitations/implicationsThe study provides useful insights for understanding affective needs in servicescapes, and it provides design suggestions. The results have not been analysed separately for gender or different age groups.Practical implicationsThe paper proposes a framework model to be applied when dealing with affective values in servicescapes.Originality/valueThis paper makes an original contribution to understand affective values towards the physical environment in servicescape design. It offers a methodology to study complex environments with many alternative design solutions using limited resources. Moreover, this study uses a combination of a free association method and Rough Sets theory in affective design.