bluuebunny/crossref_metadata_2025_split huggingface dataset:
The transition process from alternative theoretical prisms
Authors: Altman Morris 
Published: May 2009

PurposeThe paper aims to examine the reality of, and, conditions for economic growth for former Soviet and Soviet Block economies with special attention to Ukraine and the Russian Federation. Many of these economies' transition from “Communism” remain plagued by problems of institutional design and outcomes characterized by high levels of corruption and low levels of accountability and transparency. The purpose of this paper is to analyze aspects of these socio‐economic realities in the context of contemporary economic theory and ongoing revisions to it.Design/methodology/approachThe type of economic theory used to assess issues of transition has significant implications for public policy. Conventional economic theory has traditionally focused on secure private property rights, competitive markets, inclusive of “flexible” labor markets, as the necessary if not the sufficient conditions to successfully and quickly transition from command style to market economies. Little attention is paid to the details of institutional design. The paper applies a behavioral‐institutional analytical framework to analyze important aspects of failures and successes in transition economies using both economic and governance data sets.FindingsThe paper finds that traditional measures of economic freedom are far from sufficient to generate economic growth. Accountability and transparency in governance structures is also required. Economic failure and success are closely connected with overall performance in socio‐economic governance. Also an unnecessary emphasis on low wages, highly constrained social safety nets and labor market policy impedes successful growth and development.Practical implicationsTransition economies' economic performance can be significantly enhanced through improvements in institutional design that facilitates the evolution of high‐wage market economies. The market in and of itself does not suffice to generate successful transitions from command to vibrant market economies.Originality/valueThis paper provides an original exposé and analysis of transition economies from a behavioral‐institutionalist perspective, with important public policy implications.
Institutional change as cultural change
Authors: El Karouni Ilyess 
Published: May 2009

PurposeThrough Chinese experience, the purpose of this paper is to underpin the hypothesis of institutional change as cultural change.Design/methodology/approachThe paper compares Chinese postsocialist transformation to a chemical change reaction. So, the paper discerns initial conditions, factors which triggered the reaction, catalysts, and elements of synthesis. Chinese institutional changeper sederived from a cultural shock induced by the economic, political, and cultural opening which acted as trigger. Then, it deals with the other elements of the process.FindingsThe paper reveals that Chinese postsocialist transformation is based on change in values and mentalities particularly in the Chinese Communist Party. In this perspective, institutional change is not only an economic or a political process but also it is fundamentally cultural.Originality/valueThis paper shows the process of postsocialist transformation in a different light. Whereas, economists often only focus on political considerations or conflicts of interests, it insists on the cultural dimension of the process.
Economic development and unemployment: do they connect?
Authors: Tsaliki Persefoni V. 
Published: May 2009

PurposeUnemployment is a systemic element of economic development which need not and “normally” does not give rise to full employment of labour regardless of the flexibility in labour markets. This paper aims to address these issues.Design/methodology/approachThe paper presents the common arguments and policy proposals to unemployment put forward by mainstream and Keynesian economics and it continues by exploring the dynamics of economic development and its effects on employment.FindingsThe normal utilization of the capital stock is not necessarily associated with any specific level of employment. As a result, even high levels of unemployment may be consistent with the normal (full) employment of capital, and the degree of flexibility in the labour market cannot affect the above result in any significant way.Practical implicationsThe dynamics of capital accumulation continually tend to reproduce a stream of displaced workers. Moreover, the liberalization of the labour market in the effort to increase labour flexibility have contributed to the polarization of income distribution and increased the poverty rate.Originality/valueThe acknowledgment that the normal functioning of capitalism is consistent with a rising unemployment rate may provide policy makers with a solid analytical ground upon which more realistic and viable employment policies can be proposed in the effort on the one hand to reduce unemployment and on the other hand to alleviate its adverse effects on the unemployed and on social cohesion.
The effect of disability on the needs of caregivers
Authors: Vecchio Nerina , Cybinski Patti , Stevens Stella 
Published: May 2009

PurposeThe perception among carers and health professionals is that the health care system remains limited in its effectiveness and accessibility to non‐institutionalized people with a mental illness. The purpose of this paper is to determine the effect of the care recipient's main disabling condition (either physical or mental) on the carer's perceived need for assistance in their role as carer.Design/methodology/approachBased on the data collected from the Australian Survey of Disability, Ageing and Carers, the investigation involves the non‐institutionalized recipients of care with profound and severe disabilities, aged 15 years and over, residing in private dwellings and their primary informal carers.FindingsRegression analysis reveals that carers of those with a mental disability are 2.7 times more likely to report care needs unmet compared to carers of those with a physical disability. Further analysis using interactions shows that carers who are the adult children of mentally disabled parents report a comparatively very large amount of perceived unmet need.Originality/valueIf equity is measured in terms of perceived need rather than finite resources a case is made that primary carers of people with a mental disability experience greater burdens in care.
Do internationally cross‐listed non‐US firms obtain more favorable terms for syndicated loans?
Authors: Champagne Claudia , Kryzanowski Lawrence 
Published: May 2009

PurposeThe purpose of this paper is to study the impact of cross‐listing and cross‐listing location on the terms of the private debt of firms not located in the USA. Specifically, the paper examines the empirical relationship between three syndicated loan terms (pricing, maturity and amount) at loan initiation and the cross‐listed status of the borrower (cross‐listed in the USA, UK, through depository receipts or not at all), while (not) differentiating between the stage of economic development of the borrower's home country.Design/methodology/approachThe three loan terms are modeled as a simultaneous system of equations and are estimated on a very extensive sample of 3,883 observations. The impact of endogeneity biases due to the sequential choices to and where to cross‐list are examined using the inverse Mill's ratios from a bivariate probit model.FindingsAll else held equal, foreign borrowers that are cross‐listed directly in the UK obtain loans with higher spreads, longer maturities and larger loan amounts if they are from economically developed countries. Borrowers from emerging economies pay lower spreads but receive shorter maturities on syndicated loans if cross‐listed in the UK. Cross‐listings in the USA are not associated with any significant differential impacts on the three loan terms.Originality/valueThis paper makes an important contribution to the cross‐listing and capital structure literatures by providing evidence that the net benefit from being cross‐listed for one debt component of the cost of capital (i.e. syndicated loans) depends on the listing destination and upon whether or not the borrower is from an emerging economy. The paper provides practical guidance to corporate financial officers on the benefits of international cross‐listing and the choice of cross‐listing venues on the terms of private debt issues.
The price, liquidity and information asymmetry changes associated with new S&P 500 additions
Authors: Hrazdil Karel 
Published: May 2009

PurposeUsing S&P 500 additions, the purpose of this paper is to test the permanence of abnormal returns around the index inclusion announcement and effective implementation dates to differentiate among competing explanations for the index inclusion premia puzzle.Design/methodology/approachThe event study methodology is used to examine abnormal returns and volume effects around the announcement dates (ADs) and implementation dates of index additions.FindingsThis study documents a twofold increase in trading volume and significant permanent abnormal returns at the ADs that are correlated with subsequent decreases in bid‐ask spreads. There is a fivefold increase in trading volume, but only temporary abnormal returns, around the effective dates (EDs). Taken collectively, the evidence indicates that the permanent return at announcement is best explained by liquidity/information cost explanation, but the temporary return and large trading increases at the ED can best be attributed to the price pressure hypothesis.Research limitations/implicationsThese results do not support the well documented long‐run downward‐sloping demand curve as the primary explanation for the abnormal returns observed on these dates.Originality/valueThis study contributes to the body of literature on the index inclusion effect by providing supporting evidence for the liquidity/information cost explanation, and by extending the previously analyzed index additions with an additional five‐year period from 2000‐2004.
Performance differences between IPOs in new industries and IPOs in established industries
Authors: Ang James , Boyer Carol 
Published: May 2009

PurposeThe purpose of this paper is to provide a unique approach to examining issues related to initial public offerings (IPOs).Design/methodology/approachThe price behavior of IPOs in new industries is analyzed relative to IPOs in established industries.FindingsThe results show that there are fundamental differences between IPOs of companies in new industries and those in established industries in that there is greater uncertainty regarding future earnings, less competition and fewer barriers to entry. The results indicate that IPOs in new industries outperform IPOs in established industries during holding periods of one to ten years. Furthermore, IPOs in new industries tend to merge less often, declare bankruptcy less often and are delisted less often than firms conducting an IPO in established industries.Originality/valueA longitudinal approach allows analysis of IPOs of firms relative to other IPOs within the same industry that occurred before or after. By performing such a longitudinal study, issues could be examined which would not have been possible to analyze using a cross section of IPOs from a single time period. The usefulness of this study is that it provides new information to the investor when selecting between IPOs in new or established industries, and also when selecting among IPOs of firms entering a new industry in the early, middle or latter stage of its market cycle.
Sudden CEO vacancy and the long‐run economic consequences
Authors: Lambertides Neophytos 
Published: May 2009

PurposeThe aim of this paper is to examine the long‐term abnormal returns of firms that have experienced chief executive officer (CEO) succession. According to Chief Executive magazine, directors rank CEO succession as the second most important issue their firms face, the first being strategic planning.Design/methodology/approachThis study examines 202 CEO succession announcements. It utilizes two returns‐generating models to calculate abnormal returns for two estimation windows of 200 trading days before and after the succession event.FindingsThe results support the theory first developed by Guest (1962) that succession is an adaptive event. Specifically, this study shows that firms that experience a CEO change have positive abnormal returns, suggesting that new CEOs raise the firm performance. Moreover, this study shows that firms that experience CEO change due to CEO retirement improve firm performance in the post‐succession period, whereas succession due to CEO sudden death or illness seems to have no direct effect on the long‐term performance of these firms. Finally, this study provides strong evidence that outside successions help firms raise performance more than inside successions.Research limitations/implicationsLike any empirical event‐study, the validity of the results depends on the absence of confounding events. Future research could be to explore the relationship between the information content of the CEO succession announcement and the market reaction.Originality/valueThis paper is believed to be the first attempt to empirically examine the relation between CEO turnover and long‐term firm performance through the analysis of the successor's origin and of the force initiating the change, by using an event study methodology.
Scales in services marketing research: a critique and way forward
Authors: Gilmore Audrey , McMullan Rosalind 
Published: May 2009

PurposeThe purpose of this paper is to discuss the use of measurement scales and to illustrate some of the drawbacks of using scales for measuring service quality without due recognition of the limitations and rigidity of such scales, especially when they are applied to the complexity of service marketing situations and contexts.Design/methodology/approachA review of the most widely used scales in services measurement, including SERVQUAL and SERVPERF is provided, along with some of the conceptual issues surrounding scale design and use in service contexts. Then some qualitative research techniques are considered in terms of their adaptability and flexibility for carrying out research regarding the complex nature of services.FindingsMeasurement scales are evaluated and discussed. The key criticisms of best‐known scales used for services situations are presented. Then consideration is given to what might be a “best practice” scenario for measuring and assessing service‐related issues in a service context.Originality/valueThe discussion draws attention to the importance of recognising the most suitable research method for a service‐specific research problem/question rather than imposing a well known measurement scale or technique that may not suit the purpose.
Analysing the effect of satisfaction and previous visits on tourist intentions to return
Authors: Alegre Joaquín , Cladera Magdalena 
Published: May 2009

PurposeThe purpose of this paper is to analyse the determinants of tourist intentions to revisit a destination, paying special attention to the effects of satisfaction and the number of previous visits. In order to guarantee an incentive to improve the product, satisfaction must be the main determinant. A second objective is to analyse the contribution that satisfaction with different aspects of a destination makes on overall satisfaction.Design/methodology/approachA structural equation model (SEM) has been estimated. Some of the variables involved in the model are ordinal. Thus, tetrachoric, polychoric and polyserial correlations were calculated and then used as the input for structural equation modelling.FindingsBoth satisfaction and the number of previous visits have a positive effect on intention to return. However, the main determinant is satisfaction. Satisfaction with different aspects of the destination has a differing effect on overall satisfaction. Attributes associated with the basic sun and sand tourist product are the main determinants of overall satisfaction.Practical implicationsTo promote repeat visits, it is crucial to identify the determinants of the intention to return. The factors that influence this variable can be improved in order to increase the likelihood of repeat visits.Originality/valueMethods to estimate SEM with categorical variables have not been applied before to the field of tourism. In comparison with previous studies of repeat visitation, the main contribution of the model is that it simultaneously takes into consideration two causal links with the number of previous visits, the first affecting overall satisfaction and the second having a direct effect on a tourist's intention to return.
Does culture affect evaluation expressions?
Authors: Tsang Alex S.L. , Prendergast Gerard 
Published: May 2009

PurposeThe purpose of this paper is to look at product reviews from a cross‐cultural perspective. Product reviews are potentially an influential form of marketing communication, as well as a predictor of sales performance. With Hofstede's typology as a backdrop, the basic proposition of this study is that collectivistic cultural values place more emphasis on giving face to others, even in impersonal social environments, resulting in them giving more positive product reviews than their individualistic counterparts.Design/methodology/approachThe paper uses content analysis of Chinese and American computer game reviews to test the hypotheses.FindingsThe results showed that Chinese reviews use fewer negative comments and give higher final ratings for the same set of products than their American counterparts. In addition, Chinese reviews showed a lower consistency between their evaluative comments and their final ratings. Also confirmed is a common belief that final ratings are a summary of the evaluative comments of the review‐texts.Research limitations/implicationsFuture research is invited.Practical implicationsTheoretically, the study refines the understanding of differences between individualistic and collectivistic cultures. Practically, it is suggested that if consumers' cultural values are reflected in product reviews, international marketers should weigh and balance possible cultural bias when they decode evaluations of their products from reviews published in other countries' media.Originality/valueProduct reviews are a rich but ignored resource with high marketing value. It is hoped that the study can stimulate both marketing researchers and practitioners to make better use of product reviews to further understand marketing phenomena and make better marketing decisions.
Store image attributes and customer satisfaction across different customer profiles within the supermarket sector in Greece
Authors: Theodoridis Prokopis K. , Chatzipanagiotou Kalliopi C. 
Published: May 2009

PurposeThis research seeks to accomplish two objectives: to extend the test of the functional relationship between store image attributes and customer satisfaction in the market environment of Greece; and to investigate the stability of the structural relationships between store image attributes and customer satisfaction across different customer groups.Design/methodology/approachThe literature concerning major store image attributes was systematically reviewed. After assessing the construct validity of the store image attributes based on confirmatory factor analysis, a path model specifying the relationships between store image attributes and customer satisfaction was estimated. A multigroup analysis was conducted to test the invariance of structural paths between store image attributes and customer satisfaction for different customer profiles.FindingsOn appraising the store customer's personal variables four specific types of buyers, namely, the Typical, the Unstable, the Social, and the Occasional, were identified. While four of the six considered store attributes appear to be significant determinants of customer satisfaction, when examined for the degree of invariance between the four groups only Pricing and Products‐related attributes were equally significant in all four groups.Research limitations/implicationsThe results of the study may vary with national context, size, strategic position of supermarkets, and other customer personal variables (i.e. lifestyle) suggesting future research opportunities.Practical implicationsThe results facilitate the comprehension of the role that specific store attributes have on the satisfaction of store visitors with different profiles. In addition, the results expand the retail manager's knowledge on consumer behaviour, with rational motives (product and price‐related).Originality/valueThe results expand one's knowledge on this relationship, propounding interesting empirical evidence of the model invariance among different consumer profiles.
Including ambivalence as a basis for benefit segmentation
Authors: Ottar Olsen Svein , Prebensen Nina , Larsen Thomas A. 
Published: May 2009

PurposeThe purpose of this paper is to explore the use of ambivalence in benefit‐based segmentation of convenience food in Norway.Design/methodology/approachBuilding on the attitude‐ambivalence literature and research about food convenience, a hierarchic cluster analysis is performed based on a nation‐wide representative survey of 1,154 Norwegian consumers.FindingsThe study's effort to use attitudinal ambivalence as a basis for benefit or attitude segmentation proved to be useful in finding segments with different profiles in the area of convenience food. The results reveal three consumer segments based on evaluation of quality, value, ambivalence and perceived morals towards convenience food: the “Convenient”, the “Ambivalent”, and the “Dissatisfied” consumer. While the Convenient have positive feelings and the Dissatisfied negative feelings toward convenience food, the Ambivalent have mixed feelings and feel guilt when eating ready meals. The ambivalent consumers share beliefs, attitudes, values and behaviour at a position somewhere between the “Convenient” and the “Dissatisfied” on most variables. However, in some areas they are close to the “Dissatisfied”, e.g. on variables such as perceived nutritional value, serving/buying ready meals, time used for making dinner or planning their meals. In a few areas they are closer to the “Convenient”, e.g. appeal to children, consuming, soups and pasta, and age above 60.Research limitations/implicationsFuture research on benefit or attitudinal segmentation should consider including a measure of perceived ambivalence associated with the investigated products or services.Practical implicationsThe practical implications are addressing a potential for the convenience food industry and subsequently suggesting a positioning strategy to adopt ambivalent consumers.Originality/valueThe paper presents new insights into consumer benefit segmentation and in empirical research on convenience food with a particular focus on ambivalence and moral attitudes.