bluuebunny/crossref_metadata_2025_split huggingface dataset:
Price‐end biases in financial products
Authors: Varki Sajeev , Sabherwal Sanjiv , Della Bitta Albert , Moore Keith M. 
Published: October 2006

PurposeThe paper seeks to show that marketing and psychology literature can shed light on why investors exhibit preferences for certain price ends. The perspective adopted is that the stock market is a marketplace in which investors, as consumers, buy and sell (i.e. exchange) financial products such as stocks.Design/methodology/approachThe paper analyzes trading data from the stock exchanges to empirically test propositions about investor behaviorvis‐à‐viscertain price ends of interest derived from the marketing and psychology literature.FindingsInvestors, as consumers, favor price‐ends of 0 and 5 more than price‐ends of 9, in that they trade more frequently and more aggressively at these price ends. Further, even price ends of 0 are favored more than odd price ends of 5.Practical implicationsThe results of the study shed light on how the cognitive bias of the consumer thwarts the otherwise efficient functioning of the financial market.Originality/valueThe paper uses market‐level data to gain insights into the cognitive process of the individual investor, in addition to teasing out specific biases that have not been identified earlier in the literature. It extends the study of consumer behavior to non‐traditional, but consequential, marketplaces such as the stock market.
A story in small lessons magnified: the creation of an online campus
Authors: White Karen M. 
Published: October 2006

PurposeThis paper aims to outline the beginnings of online education.Design/methodology/approachThis article is a narrative account by an “early adapter” of her initiation into online learning, at a time when few people could even conceive the potentialities of the mode and nobody could clearly envision them.FindingsThis article reveals a side to the endeavor that is usually edited out of more formal histories, which focus primarily on major discoveries – the untidy process of coming to terms with new possibilities in the course of daily life, while struggling with both incomprehension of one's peers and personal uncertainties of one's own.Originality/valueThe article illustrates how innovation is driven not simply by pragmatic needs as much as by the lure of the unknown.
The case study: storytelling in the industrial age and beyond
Authors: Benjamin Barbara 
Published: October 2006

PurposeStorytelling is traditionally associated with an oral tradition, dating back to the age of the hunter‐gatherer. Beginning with the etymology of the word, “story,” this article attempts to show how both written and oral storytelling evolved in relation to changing needs in society, from story telling among hunter‐gatherers to current forms of storytelling in today's organizational settings.Design/methodology/approachThis article examines the various forms of storytelling, from its origins in prehistoric times to the post‐Industrial Age, with emphasis on the case study as storytelling in the Industrial Age and beyond.FindingsThe forms and applications of storytelling continually expand to meet the expanding needs of society throughout human history. Storytelling today, as in the past, can be useful as a tool for defining, securing and shaping people's existence in relation to both their culture and their universe. Storytelling is particularly valuable for ensuring one's survival in today's continually changing global environment.Practical implicationsStorytelling has always played a role in the evolution and survival of cultures. Today, as the world experiences rapid and continual change, it is more important than ever to identify and expand the forms and applications of storytelling to help people and organizations prepare for evolution and survival in an unfamiliar future.Originality/valueThis article expands the definition of storytelling, from Stonehenge to blogs, in the context of people's continual search for ways to define, secure and shape their existence in relation to both their culture and their universe. Currently, most societies across the globe are in a period of rapid transition and continual change. During this transition, it is vital to expand understanding of the evolving forms and applications of storytelling so that one can continue in the tradition of using stories to define, preserve and shape society.
A reformulated asset pricing model based on contrarian strategies
Authors: He Zhongzhi (Lawrence) , Kryzanowski Lawrence 
Published: October 2006

PurposeResearchers have proposed characteristics‐based pricing models as an alternative to risk‐based pricing models. While supported empirically, these characteristic‐based models lack theoretical support. This paper seeks to reformulate an asset‐pricing model (RAPM) to demonstrate why firm characteristics help to explain stock returns.Design/methodology/approachThe RAPM is grounded in an economic setting where two groups of agents hold different beliefs about firm fundamental values, and the more sophisticated group (rationals) adopts contrarian strategies against the naïve group (quasis). The model is derived in a static equilibrium within the consumption‐investment framework with heterogeneous agents.FindingsThe key theoretical result is a parsimonious equation of cross‐sectional expected returns that not only are specified by the traditional risk‐return relation, but also are determined by contrarian adjustments at both market‐wide and firm‐specific levels. When the model is taken to empirical specifications, it leads to consistent explanations for the behaviors of growth and value stocks, and for size and book‐to‐market effects.Research limitations/implicationsThe RAPM is a one‐period model that assumes that “rationals” have perfect knowledge about “quasis” sentiment parameter and their relative market weights. In future research, it is planned to extend this static model to multiple periods to incorporate a learning process by which “rationals” learn these parameters over time.Practical implicationsThe RAPM clearly identifies four criteria for implementing arbitrage opportunities in investments. These criteria formalize the common practices in the mutual/hedge fund industry.Originality/valueThe paper develops an original framework that formally supports the characteristics‐based models. It offers insights for researchers in behavioral finance and guidelines for investment practitioners.
Acceptance sampling plans based on failure‐censored step‐stress accelerated tests for Weibull distributions
Authors: Wook Chung Sang , Sung Seo Young , Young Yun Won 
Published: October 2006

PurposeThe paper aims to present acceptance sampling plans based on failure‐censored step‐stress accelerated life tests for items having Weibull lives.Design/methodology/approachThe model parameters are estimated by the method of maximum likelihood. Based on asymptotic distribution theory, the sample size and the acceptability constant are determined satisfying the producer's and consumer's risks. The step‐stress accelerated life test is optimized to have a minimum sample size by minimizing the asymptotic variance of test statistic. Two modes of step‐stress accelerated life test are considered, and a comparison between them is made. The proposed sampling plans are compared with the sampling plans based on constant stress accelerated life tests.FindingsAsymptotic variance is a dominating factor in determining the sample size required for a sampling plan to determine the acceptability of a lot. The sample size is minimized by optimally designing a step‐stress accelerated life test so that the asymptotic variance is minimized.Originality/valueThe sampling plans presented in this paper are particularly useful when items to be tested are so reliable and are useful to reliability engineers and life test planners.
Emerging paradigms in the Indian marketplace
Authors: Shukla Paurav 
Published: October 2006

PurposeThis special issue aims to present India as one of the world's most promising and fastest growing economies, with multinational companies eager to invest.Design/methodology/approachExamines the eight articles and the contribution of each to an important aspect of marketing in the region.FindingsThe issue provides insights from both organizational and consumer perspectives; provides various methodological insights in researching the Indian marketplace; being specifically focused on India, the findings are applicable in the Indian market context which has a need for customized tools and marketing strategies.Originality/valueThis issue will assist practitioners, researchers and budding marketers, eyeing India as a potential market, and adds to the existing debate on emerging paradigms in the Indian marketplace on several fonts.
An investigation into how individual and organisational consumption is affected when dealing with SME organisations from emerging economies
Authors: Sethna Zubin 
Published: October 2006

PurposeThe present study seeks to investigate how individual and organisational consumption is affected when dealing with small and medium‐sized enterprise (SME) organisations from emerging economies.Design/methodology/approachUsing ethnographic in‐depth interviews, data were collected from 20 Indian UK‐based “buyers” who have either previously bought or are currently buying from organisations based in India. Investigates the perceptions surrounding challenges and/or benefits held by these 20 SMEs. Identified areas such as inter‐cultural blending, community support, country‐of‐origin effects, generational shifts and finally, attitudes towards quality, price, consistency, and branding.FindingsFindings indicate that the respondents did not vary at all on their collective perceptions about buying from emerging economies, specifically, India. The over‐riding issue that was highlighted many times over was one of “trust in the relationship” between buyer and seller. Findings also suggest the need to take a holistic view on the whole arena of “marketing paradigms for emerging economies”. Despite a climate of increased globalization, an intensification of international contact of businesses, increased travel of executives, and an enlarged overseas education by Indians, there still seems to be a vast gap between the perceptions that are held by India‐based executives and their UK counterparts (high cultural distance).Research limitations/implicationsConclusions outline information that may potentially be useful to Indian suppliers for use as a reference guideline when entering relationships with UK‐based customers, of either a similar or indeed dissimilar cultural background.Originality/valueAdds to existing knowledge of how individual and organisational consumption is affected when dealing with SME organisations from emerging economies.
Innovation generation in charity promotional web sites
Authors: Bennett Roger 
Published: October 2006

PurposeThis study aims to examine the influence on the intensity of web site innovation of the extent and depth of the relationship between a fundraising charitable organisation and its external web site developer, and to evaluate the factors that modify this relationship.Design/methodology/approachHeads of fundraising in 166 UK charities known to employ the services of outside web site developers completed a questionnaire concerning, inter alia, the frequencies, durations, natures and degrees of closeness of their interactions with these firms, the characteristics of their charities' internal knowledge management systems, the levels of the user interface complexity of their organisations' web sites, and how they searched for fresh ideas for web site improvement. Responses to these queries were then linked to the intensities of the innovation generation activities of the sample organisations and hence to the extents of their satisfaction with their web sites' performances.FindingsThe magnitude and depth of charity‐developer interactions significantly affected the intensity of web site innovation generation. This connection was significantly moderated by the importance of the charity as a client of the web site development firm. Certain other variables significantly influenced the intensity of innovation generation.Research limitations/implicationsLess than a majority of the sampling frame (30 per cent) participated in the study. Further research is required to establish why a number of variables that previous literature in the general innovation generation field has found to impact on innovation intensity (user interface complexity, for example) failed to attain significance in the fundraising charity context.Practical implicationsCharity fundraisers need to appreciate that the effective management of relationships with their web site developers is crucial for facilitating web site innovation and performance.Originality/valueThis research is the first to investigate the determinants of the web site innovation activities of charitable organisations, and to compare the conclusions of prior studies of general innovation generation with outcomes pertaining specifically to web site innovation.
EU spectrum reform and the Wireless Access Policy for Electronic Communications Services (WAPECS) concept
Authors: Akalu Rajen 
Published: October 2006

PurposeTo provide an evaluation of an EU spectrum policy proposal aimed at furthering the goals of the i2010 Information Society initiative.Design/methodology/approachThis paper revisits the methodology premised on neoclassical principles devised by Ronald Coase. An evaluation of EU spectrum reform based on the work of J.R. Commons is proposed.FindingsThe approach by Coase fails to take into account the need for institutional reform of the spectrum management process. The approach of J.R. Commons identifies areas that will have to be addressed if the proposals for EU spectrum reform are to be met.Research limitations/implicationsThe methodology advanced by J.R. Commons provides a more complete account of interdependent variables associated with spectrum management and is likely to lead to workable solutions to this complex policy problem. However, it is less theoretically coherent than Coase's model.Practical implicationsRecommendations for reform and problem areas are suggested that consider both market and extra‐market valuation of the spectrum resource.Originality/valueThis paper addresses this issue and provides an alternative model based on institutional economic analysis using the methodology given by J.R. Commons.
Divestiture as a strategic option for change in NITEL: lessons from the BT and AT&T experience
Authors: Udechukwu Ojiako G. , Maguire Stuart 
Published: October 2006

PurposeAs NITEL, Nigeria's former national carrier, has been unable to cope with provision requirements needed by the country to support its development needs, this has led to changes in the attitude of the Nigerian government to competition within the industry. It is the contention of this paper that NITEL could learn from progress already made by its counterparts (such as BT and AT&T) in developed countries such as the UK and USA, especially in the area of regulation and divestiture.Design/methodology/approachIn order to examine these issues, this problem is addressed from two perspectives. In the first place, a comparison is carried out between the Nigerian telecommunications industry and progress already made in the UK and US telecommunications industry. In addition, although contextual differences do exist between the developed UK and US industry and the developing Nigerian market, such a comparison is seen as feasible based on previous research in this field. Arguably, it is suggested that divestiture amongst the numerous strategic initiatives is an option NITEL can explore.FindingsThe paper accepts that former monopolies BT and AT&T have developed divestiture theory and practice to address its failures. The question is whether these theories and practices might help NITEL address its challenges.Research limitations/implicationsIt is acknowledged that limitations within the paper might exist which may have impacted on the conclusion. In the first place, it could be argued that the existence of contextual differences between developed and developing telecommunications markets limits comparison between NITEL and BT/AT&T. Second, to an extent, it could be viewed as difficult to argue that divestiture successes in BT and AT&T could equate to similar successes in NITEL, especially considering the different economic realities NITEL has had to operate in. Third, it is also appreciated that it is difficult to effectively discuss the impact of a divestiture of NITEL without considering the significant changes in the use of telephony in Nigeria, i.e. the significant and increasing switch from fixed to mobile services.Originality/valueThe paper analyzes telecommunications companies in developing economies.
USA Patriot Act: five years and counting, but still more work to be done
Authors: Sorcher Alan E. 
Published: October 2006

PurposeTo summarize three implementing rules issued over the past year under the USA Patriot Act by the US Treasury Department Financial Crimes Enforcement Network (“FinCEN”) and to make some basic recommendations designed to help firms improve their overall anti‐money laundering compliance efforts.Design/methodology/approachSummarizes three rules issued in the past year that are of particular significance to the securities industry: the final 312 rule for foreign correspondent and private banking accounts; the insurance company AML program and Suspicious Activity Reporting (“SAR”) rules; and the mutual fund SAR rule.FindingsMakes the following recommendations for firms to improve their anti‐money laundering efforts: suspicious activity monitoring should fit your firm; information sharing may help fact gathering; anti‐money laundering programs should be applied across the firm; invest in training; and audit is an invaluable tool.Originality/valueThe Patriot Act, in a short amount of time, has had a major impact on the way securities firms and all financial institutions conduct business. Notwithstanding the achievements of the public and private sectors in implementing the USA Patriot Act, more can be done. While the USA Patriot Act provides significant tools to combat illicit activity, to be successful law enforcement and industry must continue to coordinate their efforts, and work hand‐in‐hand.
The conflicting roles of the new New York Stock Exchange
Authors: Kramer George R. , Sorcher Alan E. 
Published: October 2006

PurposeTo examine whether the New York Stock Exchange (NYSE) in its recent rule changes has provided the appropriate separation between its supervisory authority and the management of the Exchange.Design/methodology/approachDescribes the regulatory and governance structure proposed by the NYSE in connection with its public offering; discusses policy objections the security industry has made to the proposal, reviews responses by the NYSE and the Securities and Exchange Commission (SEC) to those objections; and discusses what steps might be on the horizon to better rationalize the regulatory and business side of the new for‐profit NYSE.FindingsThe NYSE's proposal should provide for regulatory consolidation with the NASD. The proposal heightens the conflict between a for‐profit exchange and its regulatory function. The proposal governance structure ignores the fact that NYSE LLC is the Exchange and has plenary authority over NYSE regulation. The proposal does not provide fair representation for members. The proposal does not provide appropriate treatment of market data.Originality/valueProvides a comprehensive view of recent changes to the NYSE's regulatory and governance structure and issues raised by the securities industry in response to those changes.
Should you stay or go? Private fund adviser registration after Goldstein
Authors: Harman Thomas S. , Parry Monica L. 
Published: October 2006

PurposeTo discuss factors that a private fund advisor should consider in its decision to remain registered with Securities and Exchange Commission (SEC) or to deregister in light of the D.C. Court of Appeals June 2006 decision in Goldstein v. Securities and Exchange Commission.Design/methodology/approachAnalyzes and compares the advantages and disadvantages of staying registered and deregistering; discusses the requirements of state registration for advisers that are note registered with the SEC; and analyzes the consequences to private fund advisors if the SEC does not repropose certain rule amendments adopted along with Rule 203(b)(3)‐2 concerning bookkeeping, performance fees, and custody.FindingsAdvisers should carefully consider their facts and circumstances and their business plans when analyzing the consequences of deregistration with the SEC – most importantly, the possibility of multiple state registration – before filing to deregister. Especially if the SEC restores the rule amendments the Goldstein decision struck down, staying with the SEC – the regulator you know – may be better than registering with a state.Originality/valueProvides an up‐to‐date analysis of factors that private funds should consider concerning SEC registration in light of the recent Goldstein decision.
A classification and selection model of e‐marketplaces for better alignment of supply chains
Authors: Sharifi H. , Kehoe D.F. , Hopkins J. 
Published: October 2006

PurposeTo provide a contingent framework for the classification and selection of e‐marketplaces has been developed.Design/methodology/approachThe framework is developed from a review of relevant literature and examined through conducting case studies, two of which are reported in the paper.FindingsA number of e‐business classification models are proposed. The key model dimensions considered are the nature of the products/services to be traded, the ownership/formation of the marketplace and the level of functionality/relationships exhibited by the trading exchange. The strategic role of an e‐marketplace is also identified as being dynamic in nature over the product/market lifecycle and the ongoing development of information systems and technologies.Research limitations/implicationsThe paper considers the power, relationship and behavioural aspects associated with the formation of e‐marketplaces but this is not the specific focus of the work undertaken.Practical implicationsThe cases demonstrated that supporting future products customisation strategies using e‐marketplaces appeared to be only possible if sufficient confidence and expertise is developed within the companies and their supply chain, and also the fear of disruption and disintegration of the chain is overcome.Originality/valueThe paper combines a strategically important concept with empirical and practical considerations.
Assessment of technological innovations in patenting for 3rd party logistics providers
Authors: Jim Wu Yen‐Chun 
Published: October 2006

PurposeTo analyse logistical innovations from 1984 to 2003.Design/methodology/approachThe approach concerned analysing the use of patents retrieved from major patent databases to create a picture of logistical innovations.FindingsConfirmation that the use of patent statistics can depict an overall picture of technological innovation in the logistics sector. Logistics firms can be innovative by making good use of patent data.Research limitations/implicationsLogistics researchers and practitioners take advantage of recent improvements in the quality and availability of patent statistics rather seriously; in other fields many do not see the relevance.Practical implicationsCustomers will begin to rely on 3PL service providers beyond distribution services for more technological innovation as they successfully expand capabilities into these areas, as well as provide end‐to‐end integration and visibility.Originality/valueThis is a novel and useful approach for examining innovations.