bluuebunny/crossref_metadata_2025_split huggingface dataset:
Trading strategies of individual investors in times of financial crisis
Authors: Prorokowski Lukasz 
Published: May 2011

PurposeThe purpose of this paper is to investigate equity appraisal techniques employed by non‐professional investors from the Central European emerging stock market (CEESM) of Poland. The paper examines investment decision‐making processes in the context of the current financial crisis in a pioneering attempt to shed some light on crisis‐induced changes in investment strategies. In addition, the study tests the usefulness and predictive abilities of analytical tools employed by non‐professional investors when faced with unstable stock‐market conditions.Design/methodology/approachQuestionnaires and experiments conducted with a large group of Polish investors – trading equities in their home market – in order to gain information on the most commonly used investment strategies. Their views are contrasted with similarly obtained opinions expressed by UK non‐professional investors to highlight differences in approaches to investments. Finally, a series of semi‐structured interviews was conducted to discuss how the current financial crisis has affected investment strategies among Polish and UK investors.FindingsTechnical analysis (TA) is the preferred tool utilized by non‐professional investors in Poland. However, the current financial crisis caused the majority of Polish practitioners to adopt fundamental analysis which, in this case, is undertaken to support initial conclusions derived from TA. At this point, investees' financial statements coupled with analyses of the main macroeconomic indicators for CEESMs became the main source of decision‐influencing information.Practical implicationsThe paper addresses an area which is gaining in importance and is of interest to both practitioners and service providers for non‐professional investors. Further investigation is recommended of nascent challenges to investing in CEESMs with practical implications for policy makers and investors.Originality/valueThe current paper refers to the global financial crisis which occurred in the years 2008‐2010. To date, there are no previous studies devoted to an investigation of how investors' trading strategies were influenced by the international financial crisis. Moreover, there are relatively few studies which target practitioners from CEESMs. The paper focuses on the non‐professionals, as this group of investors seems to be relatively under‐researched. Therefore, a number of important implications can be drawn from the current paper with regard to investment strategies tailored to overcome a financial crisis.
A brief review of the role of shareholder wealth maximisation and other factors contributing to the global financial crisis
Authors: Yahanpath Noel , Joseph Tintu 
Published: May 2011

PurposeIn the aftermath of the global financial crisis (GFC) governments lost confidence in market fundamentalism and realised the inadequacies of regulatory measures. The purpose of this paper is to outline the proximate causes of the financial crisis of 2007‐2009 and to investigate the role of the shareholder wealth maximization (SWM) objective in the GFC.Design/methodology/approachThe methodological procedure used in this paper is based on the historical case‐study approach. Case reviews of individuals and world‐level role models of the financial crisis have been cited in this paper. From this aggregated material, the paper examines the side effects of the SWM objective in order to develop the argument that the SWM objective played a role in the present crisis.FindingsThe case studies revealed that unethical behaviour, agency issues, CEO compensation, creative accounting and risk shifting are some of the side effects of SWM. These cases indicate that the assumptions on which SWM are based are questionable. Further, it can be argued that the root cause of the GFC is excessive greed and the single‐minded pursuit of SWM.Originality/valueThough many studies have attempted to identify the proximate causes of the GFC, this paper is novel in highlighting the impact of the SWM objective function.
Free Willy: the whale‐watching legacy
Authors: Wearing Stephen , Buchmann Anne , Jobberns Chantelle 
Published: May 2011

PurposeThe purpose of this paper is to explore contemporary issues in film tourism with reference to the growth in related tourism fields.Design/methodology/approachThe paper examines the relationship between growth in dolphin and whale watching and the popularity of theFree Willyseries of films.FindingsObserves that films can significantly influence aspects of ecotourism, especially in terms of the expectations of tourists.Practical implicationsThe paper illustrates how new tourism niche markets are strongly influenced by nature‐related films and discusses the implications for tourism stakeholders.Originality/valueThe paper reviews and reveals the potential for film‐induced ecotourism.
A cross‐cultural study of screen‐tourists' profiles
Authors: Kim Sangkyun , O'Connor Noëlle 
Published: May 2011

PurposeThe purpose of this paper is a cross‐cultural analysis to compare the profiles of international screen‐tourists by nationalities. Also it investigates the screen‐tourism concept as associated with theHallyuphenomenon. Owing to the nature of the topic being examined, an instrument with study‐specific items was created.Design/methodology/approachThe objectives of this paper were achieved through the critical review of previous screen‐tourism literature combined with a structured on‐site survey which included both open‐ and close‐ended questions with inbound tourists who were visiting the Daejanggeum Theme Park in South Korea.FindingsThe principal value of this study can be seen in its offering of a general overview of the characteristics of screen‐tourists induced by the television dramaDaejanggeum.The outcomes of this study concurred with the findings of some previous research which indicated the powerful impact of consuming popular media products including television dramas on destination choice and increase in tourist numbers. Therefore, the findings present a considerable amount of insight into the screen‐tourism phenomenon.Research limitations/implicationsDespite the overall success of the research methodology, a number of limitations were identified. Probably, the most significant of these relates to the generalisability of the results. Whilst this research has contributed to the existing knowledge of screen‐tourism, it would undoubtedly be beneficial to build on it through further research. In particular, research that would examine whether the main findings identified here are more widely representative would be useful. A multi‐destination paper could be undertaken in which would provide rich, comparative data on the nature and characteristics of the phenomenon in other such destinations.Practical implicationsThis paper will be of value to academics and industry practitioners interested in screen‐tourism and indeed tourism in general as well as students studying the screen‐tourism phenomenon. The results of this study could benefit destination managers, academics, film and television stakeholders who have an interest in screen‐tourism destination development.Originality/valueThis paper offers a general overview of socio‐demographic characteristics of international screen‐tourists induced by a television drama and it explores the differences in screen‐tourists' profiles including travel patterns and screen product preference in the inter‐Asian dimension. The paper addresses a gap in the literature on the area of cross‐cultural analysis and the screen‐tourist.
Working together to leverage film tourism: collaboration between the film and tourism industries
Authors: Hudson Simon 
Published: May 2011

PurposeThe purpose of this paper is to show how an increasing number of film and tourism industry stakeholders are working together with the dual goals of attracting film production and then capitalizing on the subsequent exposure.Design/methodology/approachRecently published reports and articles related to the film industry and film tourism in particular are thoroughly reviewed.FindingsAlthough most tourism organizations and film commissions have been slow to tap the potential benefits of film tourism, the examples highlighted show how partnerships between the two industries can be mutually beneficial.Practical implicationsIf leveraged well, film tourism can have large economic gains for countries and regions. Destination marketing organizations should be working with film commissions and engaging in marketing activities at four distinct stages of a film's lifecycle; before production of a film, during production, during release of the film, and after release.Originality/valueThis is the first full film tourism paper to reflect on existing collaboration between the film and tourism industries.
Economic recessions, strategy, and performance: a synthesis
Authors: Latham Scott , Braun Michael 
Published: May 2011

PurposeDespite the episodic pervasiveness of recessions and their destructive impact on firms, a void exists in the management literature examining the intersection between recessions, strategy, and performance. This paper seeks directly to address this research void by reviewing relevant literature spanning the past 20 years and building an integrative framework for future research efforts.Design/methodology/approachThe paper systematically reviews and compartmentalizes articles on the intersection between firm strategy and economic recession published between 1991 and 2010 in widely recognized management and entrepreneurship journals. Concurrently, a theoretical framework is proposed which identifies distinct constructs and linkages related to economic recessions, strategy, and performance.FindingsThe findings are twofold. First, the review distils disparate scholarly works on firm behavior and recessions to provide a systematic appraisal and review of what people know and do not know about managing firms through economic downturn. Second, the conceptual framework points to numerous opportunities to scholars interested in conducting research on this timely and important topic.Practical implicationsThe paper answers a call by scholars for research that fills a void on systematic diagnosis, prescription, or prophylaxis that can guide managers through recessions.Originality/valueThis paper represents the only research initiative to systematically bring a comprehensive overview of firm strategy in the context of recessionary environments. In effect, it addresses the larger research question: “What do we know about the interplay between firm strategy and recession?”
Real options logic in R&D project valuation
Authors: Street Jeffrey N. , Santhanakrishnan Mukunthan 
Published: May 2011

PurposeDecision making for acceptance of an R&D project occurs under uncertainty and may involve predominantly quantitative analyses, such as net‐present value, predominantly intuitive analyses, such as real options logic, or some combination thereof. This paper attempts to bring together two concepts of decision theory, i.e. heuristics and framing, and real options logic into one integrated view relative to R&D project valuation. It is believed that the integration of theory helps explain expected and unexpected decisions resulting from the R&D project valuation process.Design/methodology/approachIt is proposed here that, under a typical R&D project review, aspects of two theoretical concepts integrate to aid project valuation and decision making. The aim of this paper is to develop a research framework leading to advancement in the understanding of the relationship of heuristic principles from decision theory and the valuation methodology of real options logic. Findings – As a conceptual paper, propositions and a research model representing the conceptual framework are presented.Research limitations/implicationsStemming from the propositions and research model, it is believed that the degree of influence that heuristics potentially exhibit on real options logic can be successfully measured. Confirming the degree of influence is a matter for future empirical research.Originality/valueThe originality of this paper is to develop a research framework leading to advancement in the understanding of the relationship of heuristic principles from decision theory and the valuation methodology of real options logic. In this framework, heuristics has been positioned as a moderator affecting project valuation derived by real options logic.
“Doing” strategy
Authors: Pugh Jonathan , Bourgeois L. Jay 
Published: May 2011

PurposeMost of today's conversations around crafting business strategy center on which strategic framework is most appropriate for a firm, its strategist, or CEO to use. This opinion piece seeks to argue that the focus on frameworks is inappropriate and distracts businesses from crafting holistic and adaptive strategies. To rectify the situation, it aims to offer a more inclusive model for arriving at strategic insights. It also suggests a method for implementing this model throughout the enterprise.Design/methodology/approachThe paper clarifies that the frameworks are really many different sides of the same coin and are, at best, approximations for how strategy is “really” developed. But what does that mean in terms of actually “doing” strategy? Is this not the point of strategy literature, consultants, and business schools, to teach us? While one does not purport to have all the answers on this front, one has begun to develop a theory around how different tools available to the strategic thinker can be brought together to develop as robust a strategic process as possible.FindingsUltimately, strategy is about learning, discovering, and inventing. Strategy analysis tools aid in the learning – about the industry, one's realized strategies, one's capabilities and economics. The tools are also tools of discovery: what options make their appearance as one goes through the data and analytical processes to interpret the data? Both of these – learning and discovery – should reveal the low‐hanging fruit for incremental improvement of the current position. It is only after much homework and intellectual sweat that the inventions and potential blue oceans sparked by strategic intuition come to the fore. That is the source of true strategic invention and innovation.Originality/valueThe paper should be useful to strategy practitioners and leaders of organizations as they guide their institutions into the future.
BSkyB transformation from a new loss‐making venture to a successful organisation
Authors: O'Regan Nicholas , Ghobadian Abby 
Published: May 2011

PurposeThis paper aims to articulate strategic dilemmas faced by a Chief Executive of a highly successful company and how such dilemmas were resolved.Design/methodology/approachThe case is based on a semi‐structured interview with Mr Jeremy Darroch – Chief Executive of BSkyB – and analysis of documentary evidence.FindingsIt is often difficult to implement strategies that simultaneously yield high organic growth rate, innovation, and a healthy balance‐sheet. The paper sheds light on how Sky has met this challenge.Research limitations/implicationsThe research offers a unique insight into the views of a principal strategist and articulates the background to offer context, however, because of its design the findings are not generalisable.Originality/valueVery few articles offer insight into the thinking of those with principal responsibility for design and delivery of strategy. This paper offers such an insight based on a detailed interview with a highly successful Chief Executive.
Reflections on the American Marketing Association Doctoral Consortium
Authors: Lazer William , Bennett Peter D. 
Published: May 2011

PurposeThe purpose of this paper is to describe the founding and impact of the American Marketing Association (AMA) Doctoral Consortium and to give credit to those responsible for developing this very successful academic program.Design/methodology/approachThe paper comprises personal reflections and historical narrative.FindingsThe founding of the AMA Doctoral Consortium was led by Thomas Stoudt and was later ensured continuity through the support of Jagdish Sheth. The Consortium went through two markedly different eras. Similarities and differences between the early consortia from 1966 through the mid‐1970s and those since the mid‐1970s are presented to give a sense of how the Consortium has changed over its 45‐year history.Originality/valueThis brief note is the first attempt to document the founding and history of what has become an important institution in the marketing academy.
Institutionalization of macromarketing
Authors: Nason Robert W. 
Published: May 2011

PurposeThe purpose of this paper is to explore the genesis of the first Macro‐Marketing Seminar and to review the institutionalization of macromarketing which resulted from it.Design/methodology/approachThe paper briefly reviews the history of macromarketing, the changes in society and marketing thought, and the seminal research which led to the first Macro‐Marketing Seminar.FindingsEarly macromarketing research was supplanted by a managerial marketing focus in mid‐twentieth century while at the same time society was awakening to the interconnections between human behavior and a broad range of societal problems. The early marketing theory seminars provided a template for the first Macro‐Marketing Seminar.Originality/valueThe paper explains the resurgence of macromarketing which from that first pivotal Macro‐Marketing Seminar has blossomed into a multifaceted and institutionalized area of study.
Chemical fertilizer use efficiency and its determinants in China's farming sector
Authors: Wu Yanrui 
Published: May 2011

PurposeThe objective of this paper is to examine chemical fertilizer use efficiency at the household level and provide an assessment of the causes of efficiency variation.Design/methodology/approachA stochastic frontier production function approach is employed to estimate fertilizer use efficiency at the household level.FindingsIt is estimated that on average about two‐thirds of the chemical fertilizers utilized are excessive in China. This has serious consequences as the excessive chemicals like nitrogen and phosphate either remain in the soil or flow into rivers and underground water systems or evaporate into the atmosphere.Originality/valueThis study is probably first of its kind in the field and is based on the latest household survey data.
What is keeping the poor out of college?
Authors: Wang Xiaobing , Liu Chengfang , Zhang Linxiu , Luo Renfu , Glauben Thomas , Shi Yaojiang , Rozelle Scott , Sharbono Brian 
Published: May 2011

PurposeWith the rise in the opportunity to go to college, the purpose of this paper is to identify if China's rural poor are being excluded from the university system, and if so, why.Design/methodology/approachTwo sets of the authors' own primary survey data were used: a group of randomly selected high school students in Shaanxi Province and a census of all freshmen entering into four universities in Sichuan, Anhui and Shaanxi. The intention was to show if the rate of the rural poor attending universities is lower than that of urban students and that of rural non‐poor; also to identify the barriers to education (if they exist) that are keeping enrollment rates low for the rural poor. The authors used ordinary least squares method to make the estimations.FindingsMatriculation rate of the poor into college was found to be substantially lower than the students from non‐poor families. Clearly, barriers exist that are excluding the rural poor; however, the authors demonstrate that the real barriers are not at the point of college admissions, but before students have even matriculated into high school.Originality/valueThis is the first empirical work which studies the barriers that keep the poor out of university.
County‐level fiscal strait and resolutions in China
Authors: Luo Dan , Ju Ronghua 
Published: May 2011

PurposeThe purpose of the paper is to examine China's county‐level fiscal difficulties. A large portion of China's counties (county‐level cities) have to run with the shortage of financial resources and huge government debt. To make a suitable policy to solve this problem is a top priority.Design/methodology/approachUsing the first‐hand survey data, the paper compares nine sample counties whose economic development level is different, sums up the difficulties county‐level governments are facing and explores countermeasures from qualitative and quantitative approaches.FindingsBy studying the survey data of nine sample counties (cities), it is found that county‐level finance is facing the following problems: low‐level fiscal revenue, high debt risk and large gap of fiscal revenue between different counties (cities). Based on these findings, the paper provides suggestions such as ensuring that the county‐level government has sufficient fiscal resources and improving the transfer payment system.Originality/valueData from three well‐developed counties (county‐level cities), three middle‐income counties (county‐level cities) and three backward counties made the paper's findings more comprehensive and realistic and suggestions more practical.
Towards a code of professional conduct for construction mediators
Authors: Brooker Penny 
Published: May 2011

PurposeThe purpose of this paper is to examine the codes of professional conduct observed by construction mediators in England and Wales with the aim of assessing whether they raise awareness about party self‐determination and inform users about variations in mediator approaches.Design/methodology/approachThe research collated a list of construction mediation providers drawn from members of the Civil Mediation Council, professional bodies working in construction and other leading providers. A search was then made of mediation providers' web sites to find published codes of conduct.FindingsA substantial number of providers do not emphasize party self‐determination or the steps taken to inform users about mediator approaches in their online codes. Some organisations provide online access to “Mediation Agreements” which determine how the process and mediator approach is selected but generally codes do not place a specific duty on mediators to ensure parties enter mediation with informed consent about their approach.Research limitations/implicationsOnline searches may not have found specific mediator codes if organisations publish overarching professional codes of practice for members, if the documents labels do not identify them as a mediator code, or if web sites are not searchable. Further research should investigate how codes of conduct affect construction mediators' practice.Practical implicationsCodes of conduct from countries and international organisations provide exemplars of good practice. Mediation providers in England and Wales should consider revising mediator codes to give weight to the principle of party self‐determination and to articulate a duty that mediators inform users about their approach to ensure they obtain informed consent.Originality/valueThis is an original analysis of construction codes of conduct observed by mediators in England and Wales. A comparative analysis of codes from international sources contributes to the current debate on regulation and future policy developments.