bluuebunny/crossref_metadata_2025_split huggingface dataset:
Further evidence on financial analysts' reaction to enterprise resource planning implementation announcements
Authors: Jennifer Ho Li‐Chin , Liu Chao‐Shin , Tsay Jeffrey 
Published: August 2008

PurposeThe purpose of this paper is to re‐examine the issue of financial analysts' reaction to enterprise resource planning (ERP) announcements by employing actual firm data and archival earnings forecast observations. As an extension of prior ERP studies, this paper also tests whether forecast revisions vary with the timing of adoption.Design/methodology/approachBased on 188 firms that announced ERP plans during the years 1993 through 2002, this paper investigates the financial analysts' reaction to ERP announcements by comparing their earnings forecasts issued immediately before and after the ERP announcement. To examine the effect of adoption timing, this paper partitions the sample into three groups: early (1993‐1997), middle (1998‐1999) and late (2000‐2002) adopters.FindingsResults show that significantly positive revisions occur in longer term forecasts (i.e. three‐year‐ahead forecasts) but not in the shorter term predictions such as one‐ and two‐year‐ahead forecasts. In addition, there is some weak evidence that financial analysts react less positively to middle adopters than to early or late adopters. This finding could be attributed to the fact that many firms adopted ERP systems to work out the Y2K problems during the 1998‐1999 period.Originality/valueThe main finding confirms that financial analysts consider ERP implementations beneficial to the adopters in the long term. Companies contemplating ERP adoption should take this time horizon into account.
Timeliness, conservatism and financial transparent firms under the Greek accounting setting
Authors: Dimitropoulos Panagiotis E. , Asteriou Dimitrios 
Published: August 2008

PurposeThis paper's aim is twofold: first, it seeks to examine the impact of financial transparency on the returns‐earnings relation and second, to test for the existence of conservative accounting between 1995 and 2004.Design/methodology/approachThe data were collected from a sample of 105 non‐financial firms listed at the Athens Stock Exchange and were analyzed using ordinary least square (OLS) regression models.FindingsResults indicated that conservative accounting is existent in the Greek accounting setting, but weak evidence regarding earnings timeliness was found. Additionally, evidence was found showing that disclosure improves earnings informativeness for firms with low conservatism but not in the case of firms with high timeliness. Overall the findings suggest that there are cases where better disclosure may not result on more informative stock prices.Originality/valueThe present study adds to the existing literature by examining the issue of timeliness and conservatism within the context of an emerging capital market like Greece. To the authors' knowledge, this the first study which considers the aforementioned issues in the Greek accounting setting.
The impact of thin trading on day‐of‐the‐week effect
Authors: Al‐Khazali Osamah M. 
Published: August 2008

PurposeThe purpose of this study is to examine the impact of thin trading on the day‐of‐the‐week effect in the emerging equity markets of the United Arab Emirates (UAE). Researchers have stated that emerging markets are typically characterized by low liquidity, thin trading and possibly less well‐informed investors with access to unreliable information and considerable volatility. It is well known that thin trading can affect the results of empirical studies on patterns of equity markets by introducing a serious bias into the results.Design/methodology/approachThis study applies a stochastic dominance approach to detect the day‐of‐the‐week effect. The reason for utilizing this approach is that the parametric tests are not strictly appropriate for assets with non‐normally distributed returns. In fact, stochastic dominance is a useful tool for making comparisons among distributions without relying on parametric assumptions.FindingsThe findings indicate that there is day‐of‐the‐week effect in published daily prices, while daily effect vanishes when data are corrected to remove any measurement bias arising from thin trading. The stochastic dominance results show that the day‐of‐the‐week effect in the UAE equity markets is not present when we correct raw data for thin and infrequent trading.Originality/valueThere has been no research in the literature testing the day‐of‐the‐week effect on the emerging financial markets in the UAE. The study provides empirical evidence on their degree of market efficiency. If the day‐of‐the‐week effect exists, this means that the Abu Dhabi Securities Markets and the Dubai Financial Markets are inefficient. These results will help investors to develop a good investment strategy
Where the dirty surplus accounting flows are?
Authors: González Sánchez Mariano , Mateos Ansótegui Ana I. , Falcó Montesinos Antonio 
Published: August 2008

PurposeThe purpose of this paper is to locate the specific items from the financial statements that are responsible for the dirty surplus accounting flows and how important they are in its explanation.Design/methodology/approachIt is generally accepted that some country accounting rules allow some operations that can generate dirty surplus in the annual statements. Working on this basis, it is necessary to consider information at the same time across firms and across time, using panel data econometric techniques. A static panel data estimated by generalized least squares can be used to correct correlations between firms and account numbers or a dynamic panel data estimated by GMM‐SYS with instrumental variables to avoid endogeneity.FindingsResults show that in a static panel data model, the income statement items have a lower explicative power of balance sheet items variations, having higher explicative power a dynamic one (AR(1)). Results show that, specifically, financial assets, debts and book value capture the dirty accounting flows.Research limitations/ implicationsWorking in differences reduces the explicative power of the income statement and working in levels could be inconsistent if it is impossible to contrast, first, stationary in data due to their shortage. It is suggested that future works increase the frequency of the observed data, and contrast the cointegration as a way to check the accounting relationships.Practical implicationsIt is important to evaluate whether the income statement can (or cannot) explain the financial position of a firm. Also it is important to know where dirty surplus accounting flows are located can be useful for firms' valuation.Originality/valueThe econometric technique proposed in the paper deals with the main limitation in accounting research: information is bigger in cross‐section (number of firms) than in time series (economic periods).
Institutions and non‐linear change in governance
Authors: Burau Viola , Vrangbæk Karsten 
Published: August 2008

PurposeThe paper aims to account for the substance of non‐linear governance change by analysing the importance of sector‐specific institutions and the pathways of governing they create.Design/methodology/approachThe analysis uses recent reforms of the governance of medical performance in four European countries as a case, adopting an inductively oriented approach to comparison. The governance of medical performance is a good case as it is both, closely related to redistributive policies, where the influence of institutions tends to be pertinent, and is subject to considerable policy pressures.FindingsThe overall thrust of reforms is similar across countries, while there are important differences in relation to how individual forms of governance and the balance between different forms of governance are changing. More specifically, sector‐specific institutions can account for the specific ways in which reforms redefine hierarchy and professional self‐regulation and for the extent to which reforms strengthen hierarchy and affect the balance with other forms of governance.Originality/valueThe recent literature on governance mainly focuses on mapping out the substance of non‐linear change, whereas the development of explanations of the substance of governance change is less systematic. In the present paper, therefore, it is suggested coupling the notion of non‐linear change with an analysis of sector specific institutions inspired by the historical institutionalist tradition to better account for the substance of non‐linear governance change. Further, the analysis offers interesting insights into the complexity of redrawing boundaries between the public and the private in health care.
Expansive or limitative strategy? A case study of organisational responses to new public health
Authors: Juul Nielsen Annegrete , Knudsen Morten , Finke Katrine 
Published: August 2008

PurposeSince the emergence of new public health in the 1970s, health has not merely been considered the absence of disease, but physical, mental and social wellbeing. This article seeks to analyzes the implications of this broad concept of health at an organizational level.Design/methodology/approachThe paper presents a qualitative case study of boundary drawing in a Danish municipal agency in charge of planning and conducting health promoting and disease preventing activities from 1989 to 2005. The theoretical framework draws on Niklas Luhmann's organization theory.FindingsTwo different organizational answers were found to the challenges inherent in the broad concept of new public health. First, the organization tried to increase its size and incorporate as many aspects of the environment as possible. This expansive strategy jeopardised the identity of the organization. Second, the organization tried to keep clear and tight boundaries and from this position irritate entities in the environment. This limitative strategy made the organization spend relatively more energy on organizing and controlling itself than on public health work.Practical implicationsThe case study shows how a broad concept of health makes boundary management topical in organizations dealing with health promotion and disease prevention. Organizations in charge of public health activities need to reflect on how they can create intelligent compensations for the disadvantages involved in an expansive or a limitative strategy.Originality/valueThe broad concept of health inherent in new public health has been widely accepted and yet its challenges to organizational boundary drawing have attracted little attention. This paper provides an analysis of these challenges.
Doctors as managers: moving towards general management?
Authors: Opdahl Mo Tone 
Published: August 2008

PurposeThe paper seeks to explore whether the development in department management in Norwegian hospitals after the unitary management reform in 2001 constitutes a development in the direction of general managementDesign/methodology/approachInterviews were conducted with ten managers from different levels in a large Norwegian university hospital in 2001‐2002, as a unitary management model was implemented.FindingsThere is an emerging change of practice among the physician managers according to this study. The manager function is more explicit and takes a more general responsibility for the department and the professions. However, the managerial function is substantiated by conditions related to the professional field of knowledge, which gives legitimacy within a medical logic. Contact with the clinic is stressed as important, but it is possible to adjust both amount and content of a clinical engagement to the demands of the new manager position. This has both a symbolic and a practical significance, as it involves both legitimacy and identity issues.Practical implicationsThe paper shows that the institutionalised medical understanding of management has a bearing on managerial reforms. Managerial changes need to relate to this if they are to have consequences for the managerial roles and structures on department level in hospitals.Originality/valueThe paper suggests that the future development of this role will depend on the way the collectivist and individualist aspects of responsibility are handled, as well as on the further development of managerial knowledge of physicians.
Shared care and boundaries: lessons from an online maternity record
Authors: Ross Winthereik Brit 
Published: August 2008

PurposeThe paper seeks to examine how an online maternity record involving pregnant women worked as a means to create shared maternity care.Design/methodology/approachEthnographic techniques have been used. The paper adopts a theoretical/methodological framework based on science and technology studies.FindingsThe paper shows how a version of “the responsible patient” emerges from the project which is different from the version envisioned by the project organisation. The emerging one is concerned with the boundary between primary and secondary sector care, and not with the boundary between home and clinic, which the project identifies as problematic and seeks to transgress.Research limitations/implicationsThe pilot project, which is used as a case, is terminated prematurely. However, this does not affect the fact that more attention should be paid to the specific redistribution of responsibilities entailed in shared care projects. Rather than seeking to connect all actors in an unbounded space, shared care might instead suggest a space for patients and professionals to experiment with new roles and responsibilities.Practical implicationsWhen designing coordination tools for health care, IT designers and project managers should attend to the specific ways in which boundaries are inevitably enacted and to the ways in which care is already shared. This will provide them with opportunities to use the potentials of new identities and concerns that emerge from changing the organisation of healthcare in relation to IT design.Originality/valueThe paper shows that “unshared” care does not exist; care is always shared among human and nonhuman actors. It also points to the value of studying how boundaries are enacted in projects that seek to create continuity across boundaries.
Evaluating the department of health recruitment strategy: an international perspective
Authors: Gupta Nitin , Gupta Vinesh , Singh Gurpreet 
Published: August 2008

PurposeThe purpose of this paper is to assess the experiences of internationally recruited (IR) consultant psychiatrists focussing on the recruitment process and its adherence to the department of health (DH) guidance.Design/methodology/approachIR consultant psychiatrists (n=88) from different countries were mailed a 13‐item questionnaire assessing their experiences regarding various aspects of the recruitment process.FindingsIn total, 48 per cent IR psychiatrists responded; 97 per cent were from India. The recruitment process was generally satisfactory with perceived gaps in support from various stakeholders. Inconsistent experiences were reported regarding induction, mentorship, clinical responsibilities, and racial discrimination.Originality/valueThis is believed to be the first such questionnaire‐based study carried out on the IR consultant psychiatrists and discussing their experiences of the overall recruitment process.
Streamlining the patient journey
Authors: Hella Dahlmann‐Noor Annegret , Gupta Nitin , Hay Gordon R. , Cates Caroline A. , Galloway Gavin , Jordan Kerry , Lamb Robert J. , Ramsay Andrew S. , Vivian Anthony J. 
Published: August 2008

PurposeThe patient journey from detection of an eye problem by optometrists to assessment and treatment by ophthalmologists can be streamlined by direct referral from optometrist to hospital eye service (HES). This requires locally agreed guidelines and training and feedback for optometrists to ensure high diagnostic competence. The purpose of this paper is to evaluate the quality of the West Suffolk Direct Referral Scheme, one of the first direct referral schemes in the UK to include all ophthalmic sub‐specialties.Design/methodology/approachTwo‐cycle audit of existing practice, including all new patients referred by optometrists and seen at West Suffolk Hospital during a three‐month period in 2003 and a seven‐week period in 2006. Three interventions: direct referral clinics for urgent patients; introduced in 2003; six‐monthly training sessions for optometrists; and regular, prompt feedback via letter about individual consultation outcome. Prospective data collection via proforma in both cycles; additional retrospective data collection in the second cycle. Diagnostic accuracy, perception of urgency and request of subspecialty clinic were evaluated.FindingsThe direct referral scheme streamlines the patient journey, and patients with acute problems have fast access to HES. In total, 99 per cent of referrals are appropriate. Diagnostic competence is high (87 per cent), and has improved with tighter communication between HES and optometrists. Agreement is less for referral urgency (75 per cent) and choice of subspecialty clinic (74 per cent).Originality/valueThe West Suffolk Direct Referral Scheme provides an efficient service of high quality. Good communications and continued feedback between community‐ and hospital‐based eye care services improve standards and facilitate efficient use of resources.
Safe in their hands
Authors: Lankshear Annette , Lowson Karen , Saxby Ruth C. 
Published: August 2008

PurposeThe purpose of this paper is to explore the management of the safety alert broadcast system (SABS) in England.Design/methodology/approachThis survey was part of a multi‐method study which was undertaken over an 18‐month period. The questionnaire was sent to every trust SABS liaison officer (SLO) (n=561) in England using the DH database. In total, 343 completed questionnaires were electronically returned, a response rate of 62 per cent.FindingsSABS is the means by which safety alerts from key agencies are electronically distributed to the NHS in England. Each organisation is required to have a named SLO who is required to acknowledge receipt on the Department of Health web site, indicate whether action is under way and finally confirm that action is complete. It offers a profile of this important segment of the workforce, over half of whom work in risk management, and 65 per cent of whom have no clinical background. Most spend very little of their working week managing the system itself, and are entirely dependent on the word of other managers to indicate that the trust has completed all action. Whilst the system is liked by the SLOs, concerns are expressed about the level of responsibility they are expected to assume.Practical implicationsTrusts may wish to consider the role in the light of the increasing number and complexity of the alerts being managed.Originality/valueThe paper offers a unique insight into the role and profile of those managing the interface between trusts and the patient safety team at the Department of Health.
Accounting in three dimensions: a case for momentum revisited
Authors: Melse Eric 
Published: August 2008

PurposeThis paper aims to extend an earlier analysis of the profitability of an individual firm operating in the professional services industry from the perspective of the triple‐entry framework of the momentum accounting theory of Yuji Ijiri.Design/methodology/approachThe paper presents a “common‐size‐format” model of balance‐sheet momentum, an approach typical of financial statements' mathematical analysis.FindingsCommon‐size‐format momentum ratios offer an alternative measurement of (the change of) business performance. They model stabilizing phenomena that might develop very differently from ratios like return on total assets or return on equity and thus provide important informational signals to the analyst of financial statements. The common‐size‐format ratio of net wealth momentum herein discussed is proposed as a supplemental measurement for business performance analysis.Originality/valueThe paper discusses a new method for performance measurement and risk analysis.
Firm size and corporate financial‐leverage choice in a developing economy
Authors: Ebel Ezeoha Abel 
Published: August 2008

PurposeThe purpose of this paper is to investigate, from an undeveloped market perspective, the nature and significance of firm size as a determinant of corporate financial leverage.Design/methodology/approachA panel data fixed‐effects regression model is used to estimate the relationship between financial leverage and firm size, while controlling also for the effects of other acclaimed determinants like asset tangibility, profitability and firm age. The dataset used covers 71 firms quoted in the Nigerian stock markets over a 17‐year period (1990‐2006).FindingsThe study reveals that as much as 91.4 percent of the total finances of Nigerian‐quoted firms is of short‐term liabilities, with just 8.6 percent constituting long‐term liabilities. It finds that firm size is negatively and significantly related to financial leverage. Controlling for some other determinants, the arising results tend to confirm an over‐bearing influence of the pecking order theory in the financing patterns of Nigerian‐quoted firms – by revealing that the relationship between profitability and financial leverage is highly significant and negative; and that firm‐age is positively and significantly related to financial leverage.Originality/valueUsing data from a country with undeveloped and inefficient financial markets, this paper provides an important insight on the international debate on the effects of size on corporate decisions.
Asymmetric rotation of risk factors in a global portfolio
Authors: Christodoulakis George A. 
Published: August 2008

PurposeThe purpose of this paper is to examine the asymmetric dynamic rotation of beta coefficients to global investment style factor shocks in the Morgan Stanley Capital International (MSCI) universe of assets and its implications for investment management.Design/methodology/approachThe paper uses an asymmetric extension of the Christodoulakis and Satchell approach of time varying beta coefficients.FindingsEvidence suggests that positive (negative) style factor shocks tend to be associated more with increases (decreases) in beta coefficients rather than the reverse.Research limitations/implicationsThere is a need to examine other forms of beta rotation and the degree of common persistence and empirical applications to investment management and portfolio performance attribution.Practical implicationsForecast the evolution of beta. Persistent positive or negative shocks could spark rotating investment exposures, particularly relevant during turbulent periods in which asset managers may engage onto tactical asset allocation strategies.Originality/valueThe paper explores the asymmetric rotation of style factors in the MSCI universe of assets. The results can be used in applied investment management involving dynamic asset allocation strategies.