bluuebunny/crossref_metadata_2025_split huggingface dataset:
Control structures and payout policy
Authors: Renneboog Luc , Trojanowski Grzegorz 
Published: January 2007

PurposeThis paper seeks to examine whether or not divident policy is influenced by the firm's corporate control structure, investigating the relationship between the dynamics of earnings payout and the voting power enjoyed by different types of shareholders. This allows one to test a set of hypotheses derived from agency and pecking order theories.Design/methodology/approachA large panel of UK firms for the 1990s and is analyzed that the payout policy is significantly related to control concentration. The problem of control measurement is addressed and the use of Banzhaf indices advocated as a relevant measure of voting power in the analysis of corporate policy choices. The traditional framework proposed by Linter is extended and an econometrically sound approach to modeling the dynamics of the total payout suggested. Where most – even recent – studies on payout policy show some methodological flaws, state‐of‐the‐art dynamic panel data estimation procedures are applied.FindingsExpectedly, profitability is a crucial determinant of payout decisions, but the presence of strong block holders or block holder coalitions weakens the relationship between the corporate earnings and the payout dynamics. Block holders appear to realize that an overly generous payout may render the company liquidity constrained, and, consequently, result in suboptimal investment policy.Practical implicationsThe results challenge some of the implications of the agency theories of payout, and favor a pecking‐order explanation for the observed patterns. The analysis of payout dynamics reveals also that companies adjust payout policies to changes in earnings only gradually, which is consistent with “dividend smoothing”. In fact, the results suggest a presence of a more general phenomenon of the “total payout smoothing”.Originality/valueAccording to one's bet knowledge, this is the first study employing those game theory‐based concepts in the context of corporate payout policies.
Malaysian unit trust aggregate performance
Authors: Fauziah  , Isa Mansor 
Published: January 2007

PurposeThis paper seeks to focus on examining unit trust performance in Malaysia over the period 1991‐2001.Design/methodology/approachThe broad based study covers full economic cycles using 7 different performance measures: raw return, market adjusted return, Jensen's alpha, adjusted Jensen's alpha, Sharpe Index, adjusted Sharpe Index, and Treynor Index.FindingsThe results show that on average the performance of Malaysian unit trust falls below market portfolio and risk free returns. However, the variance of unit trust monthly returns is less than the market. Performance by type of funds indicates that bond funds show relatively superior performance, over and above the market and equity unit trusts. This is due to the high interest rate kept during the crisis period. Findings also suggest that there is no persistency in performance as there is no significant inter‐temporal correlation between past and current performance.Research limitations/implicationsThe issue of inferior performance needs further investigations to adjust for great importance placed on maintaining consistent dividend distribution. In addition, ill‐managed funds must be separately analysed to see if limited budget, less qualified managers, use of limited information and less sophisticated software could explain the poor performance.Practical implicationsA very useful source of information for potential investors and portfolio management companies looking for opportunities to invest.Originality/valueThe paper contributes to the present body of knowledge by offering broad based performance evidence from an emerging market with strong government back up for unit trusts investment.
An integrated framework for style analysis: how is it useful to Malaysian equity trust investors?
Authors: Lau Wee‐Yeap 
Published: January 2007

PurposeThe Asian financial crisis revealed the weaknesses of Malaysian fund management industry. The financial losses incurred in the crisis brought forward the issue of asymmetric information between the fund managers and investors i.e. the mismatch between the investors’ investment objectives and funds’ profiles. This paper aims to demonstrate the usefulness of the new framework in mitigating the above problem.Design/methodology/approachThis paper advocates an integrated framework of style analysis, i.e. using strong‐form of style analysis by Sharpe – a multi‐indexed benchmark for estimating the investment style of the unit trust funds, and using the weak‐form of style analysis by Amenc, Sfeir and Martellini, to measure the risk‐adjusted performance of the funds with alpha and selection return.FindingsThis study concludes that: First, the inclusion of asset classes with negative correlation coefficient enhances the performance of funds. Second, funds with relatively high degree of style (above 70 per cent) that hold large‐cap stocks together with high portion of liquid asset class (6‐35 per cent) tend to have higher alpha, translating into higher information ratio. Third, index funds have the lowest information ratio, implying that these funds are not actively managed compared with others.Research limitations/implicationsThis paper discovers a possible trend of misclassification as the degree of styles for index funds does not differ from the other fund types. Future researchers can look into the issue of misclassification of fund objectives for the existing unit trust funds.Practical implicationsThis paper highlights the importance of the equity style management in bridging the gap between emerging capital markets and developed markets. One of the conclusions highlighted in the paper is the creation of new indices for different asset classes. Asset management companies are also advised to improve their disclosure in their annual reports to mitigate the issue of asymmetric information between fund managers and investors.Originality/valueTo the author's knowledge, this empirical work using integrated framework style analysis is the first of its kind on Malaysian unit trust funds. This paper is particularly useful to regulators of emerging capital markets and asset management companies.
Organising e‐journals from the point of view of humanities: a case study at the University of Parma
Authors: Bevilacqua Fabrizia 
Published: January 2007

PurposeResearch was carried out at the University of Parma with the purpose to investigate the organisation of e‐journal titles from a user viewpoint, in order to find out what influence the approach adopted by the library may have on the use of e‐journals and what characteristics the organisation of e‐journals should have to enable an easy discovery of resources.Design/methodology/approachThe case study involved students, faculty members and library staff in classics and medieval studies. Research methodology comprised a mixed qualitative and quantitative approach: a focus group, observations, interviews, and a questionnaire.FindingsThe group of users appeared still reluctant to use e‐journals, the main barriers to use being lack of awareness and limited number of relevant resources. Users were favourable to being provided with multiple points of access to e‐journals. Their preference appeared to be based on the familiarity of the method and similarity to the organisation of their physical library. The organisation of e‐journals adopted at Parma had the potential to meet the users' expectations, but its actual implementation seemed to require more effective promotion and user‐centred design.Originality/valueThis paper may prove useful to humanities librarians engaged in providing user effective organisation of e‐journals and in encouraging researchers and students to use electronic journals.
Beauty queens at the Women's Library, London Metropolitan University
Authors: Moorhead Fiona 
Published: January 2007

PurposeTo provide an overview of recent audience development work at The Women's Library, London Metropolitan University.Design/methodology/approachThe Women's Library used visitor research to identify key areas for building new audiences. Using library and archival collections as a starting point, the library forged strategic creative partnerships and developed a public programme designed to raise the profile of the library and increase attendance amongst the target audience groups.FindingsThe study provides detailed information about the planning process and implementation of the project, including the marketing campaign, and gives examples of ways in which the library used collaborative partnerships to engage with new and diverse audiences.Research limitations/implicationsThe case study focuses on one organisation, a University Library with museum and archival collections, but contains information transferable to other library services.Practical implicationsAn insight into ways of working to increase library users and broaden audiences, using visitor research, marketing and audience development as an integral part of strategic planning.Originality/valueThis paper showcases innovative work in the library sector, and in a broader context, reflects activity in the cultural sector in the UK.
Are public libraries worth their price?
Authors: Aabø Svanhild 
Published: January 2007

PurposeThe paper reports from a valuation study of the Norwegian public libraries, aiming to provide a better understanding of their total value, both use and non‐use value, as viewed by the population. An objective was to explore whether or not the citizens found that their benefits outweighed the costs to provide them.Design/methodology/approachThe study applies the contingent valuation method, developed in economics to valuate non‐market goods. Contingent valuation is based on representative questionnaire surveys and has been used to valuate several cultural goods, including a few library valuation studies.FindingsThe empirical data based on a representative population sample demonstrates that the value of the Norwegian public libraries decidedly outweigh their costs. Elicitation of the population's awareness of property rights to their local library showed that an overwhelming majority of the population (94 per cent) perceive they have such rights. The valuation result indicates that the benefits from the public libraries are four times their costs.Research limitations/implicationsThe method is based on hypothetical markets. More contingent valuation studies of libraries are necessary to refine the measure instruments. The study explores the benefit‐cost relation at the national level. Further research is needed for studying the benefit‐cost relation at the municipal level.Practical implicationsThe findings can be used as one way of documenting the value of public libraries to politicians, local authorities and the general public.Originality/valueThis appears to be the first contingent valuation study of public libraries at a national level, in Norway and internationally.
New media and new roles of librarianship
Authors: Jørn Nielsen Hans 
Published: January 2007

PurposeTo argue that library web sites embedded in a new media environment initiate and demand new kinds of communication and new communication skills.Design/methodology/approachThe paper is a short version of findings related to the author's research of the internet as a medium in libraries, especially in the domain of imaginative literature. The paper is based theoretically on findings of new media research. The approach is a theoretical clarification of what is new about new media and why new media may move librarians to new kinds of publicity and communication. This is illustrated by a presentation of the Danish library web site litteratursiden.dk, produced by librarians to inspire readers of fiction among library patrons.FindingsTheoretical and practical findings by new media research have indicated several new media features concerning the internet and the web. The web is a hypertextual media environment – all web sites are part of a global media environment, a global publicity. Local web communication is already a global communication. The web interface is also a multimedia interface, and it gives the possibility of interactive, dialogic communication. Further web sites are “remediations” of media types and genres from other media. These features must be considered when analysing library web sites, and they must be considered in the education of librarians in the future. The Danish library web site litteratursiden.dk is used to demonstrate how a literary library web site may use the web as a medium, and how new skills are needed and developed. The site gives access to the fiction of library catalogues, but at the same time it is a literary magazine with news, essays and recommendations. The librarians operate in two kinds of space – the library space and the literary public space. The addressee is both the library patron and the common reader. This duplicity may be seen as an expansion of the reader advisory service and may be compared with similar advisory services in reader development programmes.Practical implicationsThe world wide web and new media may change the roles of the librarian in public libraries. The library web site is embedded in a general media environment, which may demand new skills of media communication.Originality/valueThe paper aims to focus on the public librarian as a new media producer and communication expert.
A global view of library associations for students and new librarians
Authors: Agee Jim , Lillard Linda 
Published: January 2007

PurposeTo guide students' thinking about joining professional associations.Design/methodology/approachA few representative professional organizations are explored. Aspects such as organizational structure, history, culture, professional focus, and size are discussed.FindingsMany more professional associations exist and encourage student participation than most students are aware of when they enter the profession.Practical implicationsStudents can compare professional associations to find those most suited to their professional interests. These may not be the most local or well known national organizations.Originality/valueThis is an attempt to help students recognize that professional organizations exist regardless of their niche interest, and despite the larger and more general associations that may be given local emphasis.
Regional library systems: a tale of cooperation that grew America's public libraries
Authors: Long Sarah Ann 
Published: January 2007

PurposeBackground on library service needs that lead to the creation of regional library systems, and overview of current trends.Design/methodology/approachHistorical and philosophical overview by participating regional library system director.FindingsIn Illinois, the creation of regional library systems supported the establishment of many new public libraries and service was expanded and strengthened in existing libraries. With the need for new libraries less critical, the systems have greater focus on resource sharing and library development.Originality/valueAs resources for libraries continue to be strained, cooperative ventures can make scarce dollars go further.
The management of independent secondary school libraries in England and Wales
Authors: Turner Richard 
Published: January 2007

PurposeThis literature review aims to provide a synthesis of key information available about the management of independent secondary school libraries in England and Wales. The review has been the foundation of a PhD research project that is investigating issues about the management of school libraries in English and Welsh independent schools.Design/methodology/approachThe literature review covers both hard copy and electronic formats identified from accessing library catalogues, contacting relevant organisations and key players, conducting online databases and wider internet searches plus other elements of the literature search. The review is structured to address the literature about independent schools, their libraries, national and international guidelines for best practice on school librarianship, previous research, the role of the school library manager and select key current issues.FindingsThe literature review indicates that there is a substantial current literature about general school librarianship, much of which is relevant to the management of independent school libraries. However, the independent school library sector itself has not been widely researched and the published information about it is scant.Research limitations/implicationsThe literature review has largely focused on published information about general school librarianship where it impacts on independent school libraries. This is because there is little information specifically about the management of independent school libraries. Because each school library is different and is a reflection of its own school's culture, a general overview of the management of independent school libraries has not previously been produced. The review is a selective literature review, but identifies the key works relevant to the management of specifically independent school libraries.Practical implicationsThe review has helped to structure and direct a PhD research project that is contributing to the literature and addressing some of the gaps in knowledge.Originality/valueLiterature on school librarianship tends to focus on issues that are topical at the time of publication. A review of the literature about the broader management of the school library is original. Also, a literature review that is relevant to the management of independent school libraries is unique. The review will be of value to the broader PhD research about the management of independent school libraries. It will be of particular interest and worth to independent school library managers, but also to general school library practitioners and those with an interest in the sector in the research, government and wider educational communities.
Sexual harassment and the law: the British experience
Authors: Lockwood Graeme , Rosenthal Patrice , Budjanovcanin Alexandra 
Published: January 2007

PurposeTo explore key legal issues surrounding sexual harassment claims made to employment tribunals and the courts.Design/methodology/approachThis entails qualitative legal analysis of case decisions. This will involve an exposition of the reasoning behind legal decisions and a critical examination of the courts' or tribunals' interpretation of the law.FindingsThe research provides information about features and trends in sexual harassment litigation in Britain.Research limitations/implicationsThis paper outlines a set of preliminary results from an analysis of some sexual harassment cases heard in Britain.Practical implicationsHighlights key implications of legal decisions for human resource policy and practice in organizations. It will also identify deficiencies in management practice that lead to instances of sexual harassment taking place.Originality/valueScholars and policymakers in organizations should be interested in an integrated analysis of legal and organizational issues with respect to sexual harassment. The wider potential of the research is supported by the interest of the Equal Opportunities Commission and the willingness of the Commission to be named as an end user of the study.
Performance appraisals as a selection criterion in downsizing
Authors: Schraeder Mike , Self Dennis R. , Lindsay Douglas R. 
Published: January 2007

PurposeThe primary purpose of this article is to examine two alternative approaches for the use of performance appraisals in selecting individuals out of the organization (i.e. to be laid off). A rank‐order approach and a banding approach are compared to provide insight regarding issues associated with each approach.Design/methodology/approachLiterature examining the status of downsizing as an organizational strategy, as well as some of the legal and practical considerations associated with the use of performance appraisals in downsizing decisions is reviewed as a precursor to an illustrated comparison of a rank‐order approach and banding approach to select individuals to be downsized. Actual performance appraisal scores for 106 individuals working in an organization were analyzed for the purposed of the comparative illustration.FindingsThe illustrative comparison highlights specific issues associated with using two different approaches for selecting individuals for an organizational downsizing.Research limitations/implicationsTo provide a more comprehensive examination of rank‐order and banding approaches for selecting individuals for an organizational downsizing, larger samples from a variety of organizations in different industries would be insightful. Further, organizations considering either approach for the purpose of making downsizing decisions should more closely examine existing case law and legal precedents to insure compliance with appropriate laws.Practical implicationsThe article highlights the potential dilemmas faced by organizations using a banding or rank‐order approach in making downsizing decisions.Originality/valueThe paper contributes to a growing body of literature emphasizing the importance of performance appraisals in organizations.
A stakeholder model for implementing social responsibility in marketing
Authors: Maignan Isabelle , Ferrell O.C. , Ferrell Linda 
Published: January 2007

PurposeTo provide a comprehensive managerial framework to understand and provide a well balanced and integrated stakeholder orientation for implementing corporate social responsibility in marketing.Design/methodology/approachMany published articles provide significant findings related to narrow dimensions of stakeholder orientation in marketing. This article utilizes existing knowledge on this topic to support a methodology to implement a well‐integrated corporate social responsibility program that encompasses marketing.FindingsThe findings provide a grounded framework based on previous research that provides a step‐by‐step approach for implementing corporate social responsibility from a marketing perspective.Research limitations/implicationsThe framework developed in this paper provides an opportunity to examine to what extent the step‐by‐step methodology has been implemented in organizations as well as alternative approaches for implementation.Practical implicationsThis is a managerial guide for using a stakeholder model for implementing social responsibility in marketing.Originality/valueThis paper fulfils a need for advancing knowledge on implementing social responsibility in marketing and provides a practical framework for managers who desire to implement social responsibility.
Exploring “deep” and “wide” stakeholder relations in service activity
Authors: Jallat Frédéric , Wood Elliot 
Published: January 2007

PurposeThe aim of this article is to offer readers several useful paths of thought on a “deepened” and “widened” approach to the notion of interface, taking into account several types of stakeholder in the exchange.Design/methodology/approachThree case studies are developed and organised around those two dimensions which seem essential in interface management.FindingsSince the very essence of service is linked to relations and exchanges, it seems important that the range of stakeholders directly or indirectly influencing service processes should be taken into consideration.Originality/valueOwing to the multiplicity and complexity of the ties that connect them to the service provider or to clients, the management of these groups is often difficult, involving internal and external cultural considerations. However, a well carried out analysis of these involved parties and ties constitutes a major source of innovation and differentiation on the market of intangibles.