bluuebunny/crossref_metadata_2025_split huggingface dataset:
Workout management of non‐performing loans
Authors: Rottke Nico B. , Gentgen Julia 
Published: February 2008

PurposeThe German banking sector has recently been facing high real estate loan default rates resulting in the accumulation of a high volume of distressed real estate debt in the banks' balance sheets. As a consequence, German banks are confronted with the workout of their non‐ and sub‐performing real estate loans to proactively solve the problem. When doing so, banks have to decide whether they want to conduct the loan workout in their own workout departments (integrative approach) or whether they prefer to outsource the workout to a third party servicer or even sell their bad loan exposure to an external investor (disintegrative approach). This paper aims to investigate this issue.Design/methodology/approachA bank's decision to employ an integrative or a disintegrative approach can be transferred into a make‐or buy‐decision as described by the transaction cost economics. The transaction between the bank and the workout manager is analysed by the transaction characteristics of the transaction cost economics. The specificity of the human capital required for the loan workout of real estate loans is a key consideration for answering the question of integration or disintegration. Assuming highly specific investments for both, the workout manager and the bank, a formal model compares the aggregated pay offs for the bank and the workout manager to determine the optimal control structure for the specific assets.FindingsFollowing the assumptions of the transaction cost economics, the specificity of the investment of the workout manager (and also the bank) is crucial for the decision of integrating or disintegrating the workout of real estate loans. The degree of specificity required to perform the workout tasks depends on the status of underlying credit engagement and the characteristics of the collateral (the real estate). The formal analysis shows that the bank and the workout manager both under‐invest in integration and disintegration scenarios. However, if the degree of specificity of the investments is equal, nonintegration is superior to integration. Forward integration is superior to nonintegration, if the bank's investment is more specific than the workout manager's investment.Originality/valueThis research paper approaches the problematic from an academic stand point, integrating both the banking and the real estate perspective and aims to provide a recommendation for banks on the integration or disintegration of the workout unit for a certain real estate secured loan portfolio.
Facing the future: energy performance certificates and commercial property
Authors: Dixon Tim , Keeping Miles , Roberts Claire 
Published: February 2008

PurposeThe paper aims to present the findings of a “situation review” of the Energy Performance of Buildings Directive (EPBD), focusing on energy performance certificates (EPCs) to highlight areas of specific importance for the UK property investment community. The paper is based on research commissioned by the Investment Property Forum (IPF) and funded through the IPF Research Programme (2006‐2009).Design/methodology/approachInterviews were undertaken with experts from the fields of property investment and building engineering. The interviews were undertaken with to identify: the current knowledge of EPCs in the property investment sector; key issues with practical implementation of the legislation; and perceptions of the potential impacts of legislation, particularly in relation to value stakeholder and behaviour.FindingsThe paper finds that, although the regulations have been published, there is still a need for clarification in the marketplace with regard to some of the detail of regulations and the certification process. The following areas are of most concern to property investors: costs of surveys; potential difficulties with the process; and a shortage of assessors. With respect to these impacts it is becoming clear that investors who have not yet started considering the EPBD and its requirements within their strategy are likely to face difficulties in the short term. The most significant value‐related impacts of EPBD are expected to be value differentiation of properties and “price chipping” against the rental or capital value of the property, where an occupier or potential purchaser will use the recommendations contained within an EPC to force a reduction in value. The latter is expected to emerge in the short term, whereas the former is expected to be realised over the medium to long term. Both these impacts have potentially significant implications for property investment holdings and also future investment behaviour.Originality/valueThe paper provides useful information the importance of EPCs.
Accelerating the improvement process
Authors: Mugglestone Mark , Maher Lynne , Manson Nick , Baxter Helen 
Published: February 2008

PurposeThe purpose of this paper is to provide an overview of a structured improvement process that is used in all programmes of work of the NHS Institute for Innovation and Improvement (NHS Institute).Design/methodology/approachThis paper outlines the background to the development of the improvement process, specifically how learning from the domains of new product development, user centred design and innovation and creativity have been incorporated into the process.FindingsThere are key elements of evidence and experience that can be taken from other domains and incorporated into a structured approach to healthcare improvement.Practical implicationsAn improvement process is outlined that could be used as a basis for any healthcare improvement effort, and will help to ensure the development of better solutions more quickly.Originality/valueThis paper introduces a process that will help anyone interested in improving healthcare create better solutions to the challenges they face in shorter timescales.
Attainment of competency in management and leadership
Authors: Clark John , Armit Kirsten 
Published: February 2008

PurposeThe purpose of this paper is to provide a summary of a research and consultation project being undertaken by the NHS Institute for Innovation and Improvement and The Academy of Medical Royal Colleges to develop an integrated medical management and leadership competency framework. This will apply to all doctors in training at undergraduate and postgraduate levels and post‐registration.Design/methodology/approachA literature review and consultation approach has been adopted. By interviewing appropriate stakeholders from medical professional, educational, service and regulatory bodies, a high level of awareness and engagement has been realised. This should pay dividends at the implementation phase.FindingsWhilst some management and leadership is included within current curricula, it is highly variable both in terms of its coverage and relevance. At undergraduate level, it is often covered within professional development modules. At postgraduate level, some exciting initiatives are offered for some doctors but no integrated, systematic and coherent framework exists. Findings from the research are influencing the design and content of the emerging competency framework.Research limitations/implicationsThe approach used has provided a good range of information however, neither an exhaustive set of views or a full literature review has been obtained.Practical implicationsIntroduction of the Medical Leadership Competency Framework will have a significant impact on how doctors are trained. To be deemed an effective and safe doctor in the future, competence in both clinical and wider non‐clinical competences including management and leadership will be required.Originality/valueThis paper will raise awareness of this important initiative and offer a methodology for other clinical professional groups, nationally and internationally.
Maximizing shareholder‐value
Authors: McSweeney Brendan 
Published: February 2008

PurposeThe purpose of this paper is to examine the claim that the pursuit of maximum value (wealth) for shareholders optimises economic and social benefits for society as a whole.Design/methodology/approachEvidence cited in support of the claim and the methodology employed by its supporters are examined. Counter‐evidence from a wide range of disciplines, including accounting, economics, finance, and medical sociology, is considered.FindingsThe evidence does not support the claim. Bias and severe methodological flaws in its supporters' research is revealed. Considerable evidence of adverse consequences is identified.Originality/valueThis paper draws from an unusually wide range of disciplines to expose the fallacy and a number of powerful myths about the economic and social benefits of making maximizing shareholder value the primary aim of corporate governance.
Corporate social responsibility in Nigerian banking system
Authors: Achua Joseph K. 
Published: February 2008

PurposeThe ongoing reforms in the Nigerian banking system have resulted to mega banks, driven by advanced competition. This has raised concerns about their social and environmental performance. The purpose of this paper is to agitate for the prioritization of corporate social responsibility (CSR) as the foremost condition for banking stability in the reforms.Design/methodology/approachThis paper draws largely from the theory of CSR, and reviews pertinent policies and practices in the Nigerian banking system.FindingsThe paper identifies self‐induced vices, regulatory laxity, inauspicious macro‐economic environment, and endemic corruption in the economy as the major constraints to the discharge of CSR in the Nigerian banking system.Practical implicationsIt may be necessary to restructure the Central Bank of Nigeria to clearly separate the roles of banks' supervision from fiscal policy management for a more effective economic, social and environmental viability of the banking system. Furthermore, the banking system should focus less exclusively on shareholders and financial measures of success to include all stakeholders' relationships in their mission to sustain competitive success in the future.Originality/valueIt is imperative that external regulation should be blended with conscious self‐regulations by the banking institutions for the reforms to effectively include the delivery of CSR. This should be anchored on effective corporate governance in the banking institutions in the system.
Tackling opposition to implementing fiscal reform in developing countries
Authors: Caspary Georg 
Published: February 2008

PurposeThis paper seeks to examine ways in which political opposition to market‐oriented reforms in emerging markets can be challenged.Design/methodology/approachAn in‐depth study of two industrial sectors is undertaken – natural resource industries and infrastructure since both these sectors are closely related to poverty alleviation in developing countries. The paper is based on a two‐year discussion and review process the OECD organized among its member countries (mostly aid agencies that had been involved in fiscal reform in developing countries) in collaboration with the IMF, the World Bank, and experts and government representatives from China, India and South Africa between 2003 and 2005.FindingsA series of findings related to government policy in the face of opposition to economic reforms include an emphasis on consultation, local ownership and pragmatism.Originality/valueThis paper offers clear guidance on government reforms in emerging markets based on specific analysis of key sectors.
Conceptions of learning and managing the flow of knowledge in the project‐based environment
Authors: Sense Andrew J. 
Published: February 2008

PurposeThe purpose of this paper is to examine how people can conceive learning and knowledge management processes within project teams and provides conceptual guidance on the most effective way to managerially approach these important and often neglected project issues.Design/methodology/approachThis is a conceptual paper which draws on and dissects a very broad and relevant literature on learning and knowledge management.FindingsBased on the analysis conducted, and with an eye to improving project learning, project outcomes and participant learning skills, the key argument of this paper is that participants in project teams must acknowledge and pursue a more socially oriented trajectory in their learning and knowledge management activities. Therein, the participants, their project practices and the organization of the project environment become the focal points of attention and action.Research limitations/implicationsThis paper puts forward a conceptually grounded argument for a greater practical emphasis to be placed on the social systems in learning and knowledge management processes in projects. The opportunity exists to test this argument in further empirical project studies.Practical implicationsThis paper provides a foundation for project practitioners to critically reflect on their current learning and knowledge management attitudes and practices, while encouraging their attention towards the management of their project social systems.Originality/valueThis paper confronts conventional and limited perspectives about learning and managing the flow of knowledge within projects, and serves to stimulate participant and researcher reflection on more socially oriented approaches towards these project activities.
Leading dynamically complex projects
Authors: Cavaleri Steven , Reed Fred 
Published: February 2008

PurposeThe paper seeks to establish a critical role for leaders in guiding projects to higher levels of effectiveness. This role centers on using the thinking capacities associated with systems thinking, knowledge processing, action learning, and pragmatism. It is also to design systems to imbue these capacities into the operation of project teams.Design/methodology/approachThis paper presents a case study, action‐research observations, and conceptual models. Actual case studies including a medium‐sized US manufacturer and a large shipyard.FindingsThis paper includes a section that presents research findings that suggest efforts by managers to improve profits actually reduced profit in the longer term due to erroneous learning and low‐quality knowledge.Research limitations/implicationsThe research presented does not focus specifically on project teams, but rather on the interplay between project teams and the larger organizations of which they are part.Practical implicationsIn certain industries, the performance track record of project teams for operating according to schedule and within budget is dismal. Such failures have been wrongly attributed to bad staffing, poor decision making, internal politics, or external forces. This paper proposes that the more common reasons for such failures are erroneous learning caused by misperceptions of dynamic feedback, low‐quality knowledge, imbalances among system elements, and failure to account for dynamics and time delays. An approach called project management system pragmatics is proposed for use by leaders as a way to improve the effectiveness of project teams.Originality/valueThis is the first approach to project management/leadership that offers practical ways for leaders to conceive of how to deal with the ambiguities posed by the dynamics of the complex systems many project teams operate within.
Subcontractors' business relationships as risk sources in project networks
Authors: Artto Karlos , Eloranta Kirsi , Kujala Jaakko 
Published: February 2008

PurposeThis paper seeks to address the risks for a main contractor firm's project business that arise from subcontractors' inter‐organizational relationships in complex‐ and dynamic‐project networks.Design/methodology/approachExisting project risk management research neglects the management of such relational risks in networks. This paper discusses this un‐researched area by analyzing triads representing sub‐networks of three actors in a larger network. The empirical study employed several semi‐structured interviews in two global contractor organizations. Critical incidents identified in triadic settings were used to explain the logic of how risks arose from subcontractors' inter‐organizational relationships.FindingsThis paper identifies four categories of risk sources characterized by subcontractors' inter‐organizational relationships. The four risk source categories are based on subcontractors' relationships with other subcontractors, the contractor's competitor the contractor's client and non‐business actors (e.g. a local authority or regulatory body).Research limitations/implicationsThe empirical study emphasizes the dynamic nature of the risks that business relationships cause in the main contractor's current and future projects and business. Furthermore, the empirical analysis suggests that the risks arising from subcontractors' relationships have an impact on two different layers: the temporary project network layer and the permanent business network layer. The impacts of risk on the temporary project network layer relate to specific sales and delivery projects, whereas the impacts of risk on the permanent business network layer relate often to changes in the network position of the business players.Originality/valueThis paper suggests a novel risk management approach, where risks and opportunities arising from subcontractors' relationships are actively taken into account in subcontractor management.
Project management: a case study of a successful ERP implementation
Authors: Carton Fergal , Adam Frederic , Sammon David 
Published: February 2008

PurposeThe success rate of enterprise resource planning (ERP) implementations is not high in view of the sums invested by organisations in these applications. It has often been indicated that a combination of inadequate preparedness and inappropriate project management have been responsible for the low‐success rate of ERP implementations. The purpose of this paper is to present a case study of a successful ERP implementation.Design/methodology/approachIn this paper, the authors use a case study of a very successful roll out of an ERP application in the Irish subsidiary of a UK multinational to investigate the validity of one of the most commonly cited project management frameworks, the project management body of knowledge (PMBOK), to ERP projects. Discussing each category of the framework in turn, the case data to illustrate where the PMBOK framework is a good fit or needs refining for ERP projects is used.FindingsIt is found that, by and large, PMBOK, because it is a very broad framework, can shed light on most of the key aspects of an ERP project. However, the specificities of this type of project require a different emphasis on some of the factors, as discussed in the authors conclusions. The case analysis also raised some interesting insights into how companies evaluate the success of such highly complex change management initiatives.Research limitations/implicationsThis research work will need to be extended to cover other case studies of ERP implementation across other industries and organisational contexts; for example in less tightly regulated industries and smaller organisations.Practical implicationsThis discussion will be of great value to ERP project managers who are in the early stages of a project and need to understand and anticipate the areas which will require specific attention on their part, based on their knowledge of the specific circumstances within their organisational context.Originality/valueThis paper presents an investigation into the project management strategy adopted in the Pharma Inc. case and illustrates the mechanics of a successful ERP project implementation, categorised using the PMBOK framework.
The other side of projects: the case for critical project studies
Authors: Hodgson Damian , Cicmil Svetlana 
Published: February 2008

PurposeThe purpose of this research note is to articulate the limitations that project management (PM) currently faces by outlining the PM literature's frequent neglect of political, social and ethical dimensions of PM work in order to raise a number of important themes that can be usefully integrated into mainstream PM literature.Design/methodology/approachExtensive research note which updates us on where PM research is heading.FindingsPM is a highly complex, political and social process. The paper challenges readers, PM academics and practitioners to view PM more critically and to expand their appreciation of PM work as being more complex in its social context that merely delivering instrumentalist and mechanistic functional management processes.Originality/valueThis paper triggers a debate using critical PM research to engage with all levels of the project hierarchy with the aim of initiating some transformation in how actors perceive themselves, their voice, their broad responsibility and their influence in shaping their own social place.
Organizational commitment and intentions to quit
Authors: Addae Helena M. , Praveen Parboteeah K. , Davis Evyan E. 
Published: February 2008

PurposeThe study, conducted in Trinidad and Tobago, seeks to investigate the relationships among perceived organizational support, psychological contract, and affective organizational commitment. In addition, the study aims to test the moderating effect of psychological contract breach in the relationship between affective commitment and turnover intentions.Design/methodology/approachThe research was a cross‐sectional study of employees in media organizations in Trinidad and Tobago.FindingsPerceived organizational support led to affective commitment and the latter, in turn, led to lowered turnover intentions. However, employees with higher levels of affective commitment who perceived a psychological contract breach were more likely to think about quitting their jobs. There was no significant relationship between employees' psychological contract and their affective commitment.Research limitations/implicationsThe study's findings are generalizable to other print media organizations and perhaps to similar businesses in the Caribbean region. Future research should examine the antecedents and consequences of organizational commitment in other parts of the Caribbean and in non‐Western settings. This will serve to determine the cross‐national applicability and generalizability of results found in studies conducted elsewhere.Practical implicationsThe study suggested that to avoid psychological contract breach and retain employees who identify with their values and goals, organizations ought to provide feedback, support career development, and engage in participative decision‐making.Originality/valueThis study contributes to theory and research in organizational commitment in two main ways. Firstly, this is one of the few studies to examine the phenomenon in the Caribbean. Secondly, the findings of this study lend support to similar studies that have been conducted mainly in North America.