bluuebunny/crossref_metadata_2025_split huggingface dataset:
Weekly volatility forecasts with applications to risk management
Authors: McMillan David G. , Speight Alan E.H. 
Published: June 2007

PurposeIn this paper weekly volatility forecasts are considered with applications to risk management; in particular hedge ratios and VaR calculations, with the aim of identifying the most appropriate model for risk management practice.Design/methodology/approachThe study considers a variety of models, including those typically employed within the risk management industry, such as averaging and smoothing techniques, as well as those favored in academic circles, such as the GARCH genre of models, and a more recent realized volatility approach which incorporates both the simplicity in construction favored by the finance industry and the flexibility and theoretical underpinnings recommended by academics.FindingsThe results support the view that this realized volatility measure provides not only superior volatility forecastsper se, but also allows for improved hedge ratio and VaR calculations.Practical implicationsThe research findings carry practical implications for the conduct of risk management, namely that volatility forecasts are best obtained using the realized volatility approach.Originality/valueIt is therefore proposed that a future direction for risk management practice may be to utilize such measures, while more generally it is hoped that such approaches may improve the cross‐fertilization of ideas and practice between the academic and practitioner communities.
Hedge fund performance and managerial social capital
Authors: Mat Isa Rosmah , Ameer Rashid 
Published: June 2007

PurposeThis article seeks to explain and empirically test the relationship between managerial social capital and hedge fund performance.Design/methodology/approachThis article uses a capital asset pricing model (CAPM)‐style five factor model to estimate excess returns for the top 25 hedge funds.FindingsThe results show that hedge funds managers with more affiliation diversity have higher annualised rate of return. This result seems to suggest managers with more social networks and affiliation have access to market niche of wealthy investors to increase their investor base. Hedge fund managers' prior skills sets and repertoire of knowledge significantly influence their risk taking attitude.Research limitations/implicationsThe sample consists of the top 25 hedge funds.Originality/valueThe article discusses the role and implications of managerial social capital in hedge fund marketing and performance.
China's new rules on anti‐money laundering
Authors: Yang TieCheng , Zhang Nan 
Published: June 2007

PurposeThe aim of this paper is to outline some key features of China's new rules on anti‐money laundering.Design/methodology/approachThis paper describes the expanded definition of “anti‐money laundering”; the application of the rules to a broader group of financial institutions; the three required anti‐money laundering systems (client identity recognition, retention of client identity documents and trading records, and reporting of large‐sum transactions and suspicious transactions); the expected manner of anti‐money laundering investigations by the People's Bank of China; liabilities for breach; and anti‐money laundering regulations in the insurance and securities sectors.FindingsThe paper finds that new anti‐money laundering rules expand the definition of “anti‐money laundering” broaden the scope of institutions to which anti‐money laundering regulations apply, and establish more stringent requirements for the three key internal anti‐money laundering systems that financial institutions and certain non‐financial institutions must have: client identity recognition, retention of client identity documents and trading records, and reporting of large‐sum transactions and suspicious transactions. Compared to the old rules, the new anti‐money laundering rules impose more serious punishment on violations.Originality/valueThe paper provides a detailed and readable reference on the new Chinese anti‐money laundering regulations for those working in the China market and those who wish to compare these Chinese regulations with similar ones in other countries.
Critical success factors for implementing ERP: the case of a Chinese electronics manufacturer
Authors: Seng Woo Hong 
Published: June 2007

PurposeThe purpose of this paper is to examine the enterprise resource planning (ERP) implementation experiences of a leading Chinese enterprise. The objective is to provide Chinese enterprises implementing ERP with knowledge about ERP implementation critical success factors.Design/methodology/approachConstruction of a case study of the company using semi‐structured interviews of the principals involved in the ERP implementation process as well as examination of company documentation supported by literature.FindingsThe major findings of this paper are that the critical success factors for the case company for implementing ERP is similar to its Western counterparts, with the addition of an underpinning theme – cultural characteristics. This study found that when an attempt is made to adapt the implementation to the Chinese culture, management and style of the company, implementation is successful.Originality/valueThe value of this paper is that it presents companies wishing to implement ERP as well as vendors and consultants with a set of critical success factors that is applicable in China. Understanding the critical success factors would lead to a smoother implementation path. Although as a single case study the ability to generalise the findings is limited, support from literature and the experiences of the company before and after making changes to their ERP implementation add to the knowledge of ERP in China.
Integrated risk minimization methodology for high volume manufacture
Authors: Byrne Garrett , Sheahan Con 
Published: June 2007

PurposeThe purpose of this paper is to propose a methodology to reduce the potential risk of failures in high‐volume manufacturing.Design/methodology/approachThe research documented here represents an even balance of theoretical and practical development, with validation of the methodology – referred to as integrated risk minimisation (IRM).FindingsThe success of the IRM is measured in terms of reduced defect rates, through either prediction or earlier detection of defects. The combination of an inline design and immediate operator feedback on all detected defects was a critical design element.Practical implicationsThe electroplating process was chosen as a suitable case study to provide the platform from which the IRM could be developed and tested. Implementation into industry has generated the proof to support the IRM as a methodology that can successfully reduce potential risks in high‐volume manufacturing.Originality/valueIn a unique approach, failure modes and effects analysis is built into the IRM methodology, thus establishing a “closed loop” process. The IRM methodology is suitably generic, to allow the achievement of similar results for any high‐volume process.
Construction of key model for knowledge management system using AHP‐QFD for semiconductor industry in Taiwan
Authors: Chen S.C. , Yang C.C. , Lin W.T. , Yeh T.M. , Lin Y.S. 
Published: June 2007

PurposeThe purpose of this paper is to describe the construction of a key model for knowledge management (KM) systems using AHP‐QFD for the semiconductor industry in Taiwan.Design/methodology/approachThe performance evaluation matrix was modified to set up a standard performance matrix for system introduction. The importance weights of models related to KM via the analytic hierarchy process (AHP) and after consulting experts' opinions. The method of quality function deployment (QFD) was integrated for the system models of a KM system and correlation weights of key objectives to be improved.FindingsSeven key objectives need to be improved. Correlations between the key objectives to be improved and the KM system models are located via QFD for eight critically important models to be improved.Research limitations/implicationsIn this study, the questionnaires were e‐mailed to respondents sampled from the list of the Taiwan Semiconductor Industry Association (TSIA).Practical implicationsActual cases are investigated and a KM system prototype is established in this research to provide reference for the semiconductor industry when introducing a KM system.Originality/valueCompanies can evaluate the performance of system introduction rapidly and regulate their investments in resources efficiently using the measurement, analysis and improvement methods provided here so that the performance of introducing the KM system will be increased effectively at the lowest cost.
Globalization, inequalities and the “Polanyi problem”
Authors: Śliwa Martyna 
Published: June 2007

PurposeThe purpose of this paper is to contribute to the debate on the consequences of globalization, in particular the increasing disparity between the wealth of nations and individuals in society. It discusses mechanisms which lead to perpetuation and reinforcement of the situation in which, despite being characterized by inequalities and fragmentation, societies remain by and large cohesive and stable.Design/methodology/approachThis article engages with the so‐called “Polanyi problem” and with Polanyi's and other authors’ responses to it. In the discussion, the analytical approach is adopted by reference to Aldous Huxley'sBrave New World, in particular his concept ofsoma.FindingsUsing the metaphor ofsoma, developed into four interrelated dimensions, illustrations of social and organizational processes, which ensure sustainability of, and cohesion within, a society based on inequality and fragmentation, are indicated. It is argued that the existence of stratified societies, and inequalities of wealth within and between them, is accompanied by phenomena which support and sustain them.Practical implicationsDrawing upon literary fiction can offer valuable insights into issues pertinent to contemporary academic debate.Originality/valueEngagement with Huxley's work provides an alternative way of contributing to the globalization debate and, in particular, to the literature addressing the so‐called “Polanyi problem”.
The notion of Brazilian organizational culture
Authors: Alcadipani Da Silveira Rafael , Crubelatte João 
Published: June 2007

PurposeThe purpose of this paper is to analyse the Brazilian literature about national and organizational culture.Design/methodology/approachA postmodern epistemological perspective is taken to discuss culture, focusing first on its contribution to the analysis of culture within organizations. Then the central ideas in the articles published in Brazilian periodicals and congresses, between 1991 and 2000, which talked about Brazilian organizational culture, are presented and an attempt is made to outline their fundamental characteristics.FindingsThe majority of studies which deal with Brazilian culture, and which have been developed within the context of management, analyze the theme in a homogeneous manner and do not take into account the plurality and heterogeneity within the country and organizations.Originality/valuePostmodern approaches to discussion of culture seem to be important in dealing with cultural contexts (national and organizational) where nuances and variations cannot be ignored without serious political and social implications.
Evaluating performance of Nordic and Baltic stock exchanges
Authors: Mačiulis Nerijus , Lazauskaitė Vaiva , Bengtsson Elias 
Published: June 2007

PurposeThe purpose of this paper is to evaluate and compare performances of three Nordic (Sweden, Denmark, Finland) and three Baltic (Lithuania, Latvia, Estonia) exchanges.Design/methodology/approachPortfolio performance is estimated using two different approaches: traditional measures – Sharpe, Sortino and Treynor ratios; and alternative measures – reward to value‐at‐risk and reward to expected tail loss (RETL).FindingsThe findings highlight the differences and similarities in Nordic and Baltic stock exchanges and their performance trends after creation of common marketplace OMX. Returns of Baltic, like Nordic, exchanges are normally distributed. During the period of 2000‐2006, Baltic exchanges outperformed Nordic exchanges.Research limitations/implicationsThe research is limited to six stock exchanges that are members of common marketplace OMX. Proposed alternative performance measures did not diverge from traditional approaches, because, apparently, Baltic exchanges offer normally distributed returns and should not be considered emerging markets. These measures should be further tested in developing and emerging markets.Originality/valueThe findings have both theoretical and practical implications. To the authors' best knowledge, it is the first public attempt to estimate performance of Baltic and Nordic exchanges in the context of modern portfolio theory and, alternatively, new science of risk management (value at risk and expected tail loss). The paper argues for the usage of an alternative measure for performance valuation – RETL. Furthermore, the paper discuses merits and limitations of different approaches to risk and performance measurement.
Under what conditions do subsidiaries learn?
Authors: Johansen Trude 
Published: June 2007

PurposeThe main purpose of this paper is to evaluate literature on subsidiary learning, and to trace the main logics and conventional opinions in international business. A secondary purpose is to evaluate the fit, suitability and applicability to this topic.Design/methodology/approachA literature review on subsidiary learning and knowledge transfer in International Business and Economic Geography was conducted following an explorative design. Through a survey of articles on subsidiary learning sources, barriers, and the required mechanisms were identified. Some underlying theoretical contributions were also surveyed to better capture core constructs.FindingsMotivation, knowledge, absorptive capacity, and role of the subsidiary influence on learning, and the more embedded the subsidiary the better for performance. Furthermore, more advanced economies are expected to create more valuable knowledge, and knowledge flows therefore from advanced to transition economies. The more value‐chain activities that are carried out, a greater flow of knowledge flow is expected. Not much research is conducted on the value of the knowledge flows. Subsidiary learning is not studied in transition economies by economic geographers, or international business researchers. Subsidiary learning is not studied in transition economies by economic geographers, or international business researchers.Research limitations/implicationsLittle knowledge exists on knowledge flows from subsidiaries in transition economies, to multinational corporation (MNC') entities in developed economies. Mapping of ongoing relations through the lenses of business networks may be one viable way to capture evolution and change in the role of subsidiaries, or it could be mapped through analysis of evolution and change in the routines between dyads in the MNC.Practical implicationsMNCs may overlook learning opportunities due to biases in literature. Knowledge management and formal and informal integrative mechanisms for knowledge transfer may be as important in transition – as in developed economies. As Western firms continue to offshore critical activities to transition economies, they should explore the learning opportunities for organisational learning and improved strategic performance.Originality/valueThe value of this paper lies in questioning the conventional knowledge on learning and knowledge transfer which is most often researched in developed economies.
Individual correlates of organizational commitment and intention to leave the organization
Authors: Labatmedienė Lina , Endriulaitienė Auksė , Gustainienė Loreta 
Published: June 2007

PurposeThe goals of the present study are three‐fold. First of all, the paper aims to test the three‐component model (emotional, continuance and normative components) of organizational commitment in the Lithuanian population. The second goal is to analyze the relationships among individual factors (age, gender, personality traits) and organizational commitment. Finally, the paper aims to test the hypothesis if there was a relationship between organizational commitment and intention to leave the organization in the Lithuanian sample.Design/methodology/approachThe participants of the study were 105 employees working in various Lithuanian organizations (41 men and 64 women). The average age was 34.9 (SD = 11.6). The subjects completed the questionnaire that included responses to three‐dimensional measure of organizational commitment, self‐reported measure of temperament, as well as questions about demographic information. Following Meyer et al., intention to leave the organization was assessed with three questions: first, how frequently the employee thinks about leaving his or her current employer; second, how likely it is that employee will search for a job in another organization; and third, how likely it is that an individual will actually leave the organization within the next year. The regression analysis was used to predict the relationships between individual factors and organizational commitment.FindingsThe results of the investigation revealed that the three‐component measure of organizational commitment is valid in Lithuanian sample. Contrary to expectations, it was found that there was no significant relationship between personality traits and organizational commitment, but there was a significant relationship between organizational commitment and intension to leave the organization. It was also found that there was a significant relationship among organizational commitment, age, and the level of education.Research limitations/implicationsThe design of the study does not allow making causal statements. In addition, the sample is quite small and may not be representative, so one should be careful to make generalizations to other populations. Third, since all measures used are self‐reports, common method variance is a problem, as well as social desirability effects.Practical implicationsOrganizational commitment is an important research topic of human resource management, having both practical and theoretical implications. Managers could benefit from understanding the predictors of committed manpower because they can initiate the interventions when the problem exists.Originality/valueThe research contributes to organizational commitment literature by providing empirical findings and theoretical interpretations regarding the role of individual factors in explaining interrelationships among different forms of organizational commitment and employee behaviour.
Post‐acquisition integration: ways of sensemaking in a management team meeting
Authors: Rovio‐Johansson Airi 
Published: June 2007

PurposeThe aim of this paper is to investigate actors' ways of sensemaking through the use of rhetorical strategies, frames, and categories, in a management team meeting.Design/methodology/approachThe empirical data were generated from a video recorded and transcribed management meeting, and participant observation. The analysis of institutional discourses and practices builds upon the assumption that language and texts are the main tools for understanding actors' social reality. The managers' ways of sensemaking of institutional discourses and practices is captured through their use of tools like rhetorical strategies, frames, and categories in talk‐in‐interaction.FindingsThe team managers' ways of sensemaking through mobilizing rhetorical strategies, institutional categories, and how they recontextualise frames in negotiation of a disputed issue, adds new aspects to previous studies of the multi voiced complex integration processes in a cross‐border acquisition. The significance of the results is the revealing of actors' frequent use of rhetorical strategies, frames, and categories in sensemaking processes. The study calls for further research on structural features of institutional talk as related to the dynamics of talk‐in‐interaction.Originality/valueThe findings and methods of analysis contribute to international business studies and to the empirical‐based research on institutional interaction through text and talk.
Defining qualitative management research: an empirical investigation
Authors: Johnson Phil , Buehring Anna , Cassell Catherine , Symon Gillian 
Published: June 2007

PurposeThe purpose of this paper is to report the findings of research which explores how the concept qualitative management research is variably constructed and defined by those who have a direct interest in, and influence upon, important aspects of qualitative management research.Design/methodology/approachInformation was gathered through the use of semi‐structured interviews conducted with 44 individuals who were drawn from four observer‐identified types of “expert” informant who were taken to generally represent key groups of stakeholders in the conduct, evaluation and dissemination of qualitative management research. Interview data from these individuals were analysed though an iterative process using the NVivo software package to inductively generate definitional categories and explore aspects of their interrelationships.FindingsFrom data analysis it was apparent that there are eight different, but often interrelated, ways in which interviewees define qualitative management research. The philosophical dimensions of each of these variable definitions are outlined and their relationships to the methodological literature are explored. The variety identified amongst informants, indicates how there is a potential dissensus possible regarding what qualitative management research might entail, as well as regarding its provenance and its academic status. This dissensus potentially can create problems with regard to its evaluation.Originality/valueSo whist there is little evidence to suggest any systematic relationship between the variable institutional backgrounds of informants and how they variably define and perceive qualitative management research, philosophical influences upon this contested terrain are explored and the implications of the identified dissensus for how qualitative management research is perceived and evaluated is discussed. The implications of this evidently contested terrain are discussed with particular reference to the future constitution of qualitative management research and its evaluation.
Structuring qualitative enquiry in management and organization research
Authors: Atherton Andrew , Elsmore Peter 
Published: June 2007

PurposeTo explore the cases for and against the use of computer‐assisted qualitative data analysis software (CAQDAS) in qualitative organisation and management research.Design/methodology/approachReflecting the debate inherent in the questions raised about the use of CAQDAS, a dialogue between the authors is used.FindingsThere are risks associated with using CAQDAS without considering its underpinning principles and assumptions about data analysis. If these are considered explicitly as part of a research methodology, then CAQDAS may be a valuable analytical tool. If not, there is risk of distortion and bias in results from the use of CAQDAS.Originality/valueThe paper addresses a commonly posed question for qualitative researchers, in a format and structure that is likely to stimulate further debate.