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Odd-Lot Repurchase Programmes: An Analysis
Pao-Chung Hsu |
3 |
Odd-Lot Repurchase Programmes: An Analysis
Pao-Chung Hsu
Providence University, Taiwan
We examine the effects of odd-lot buy back programs on liquidity of stocks of the repurchasing firms and the success of the programs. Using a sample of the odd-lot programs implemented by NYSE, Amex and Nasdaq listed firms during 1985 to 2000, we find that while the trading volume increases during one-month period after the programs, it does not change significantly during the six-month period. The average bid-ask spreads over both one- and six-month periods do not decline but increase. These findings do not support the notion that reducing number of odd-lot holders enhances liquidity. However, we find that the firms are successful in reducing number of shareholders through the programs. The numbers of total and individual shareholders decline significantly. The reduction in number of shareholders results in administrative cost savings for the firms. Further, we find that the announcements have no significant impact on the firms’ stock prices.
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The Development of a 360-Degree Performance Appraisal System: A University Case Study
K Sanwong |
16 |
The Development of a 360-Degree Performance Appraisal System: A University Case Study
K Sanwong
King Mongkuts Institute of Technology, Thailand
This study examines the functioning of an innovative 360-degree performance appraisal system among a sample of 75 employees at a Thai university. The data for the system came from supervisors, colleagues, clients and junior staff as well as from the employees themselves. The validity of the system was examined on two occasions. While all employees were satisfied with the system, support and clerical staff in the university were more satisfied than academic staff. A number of suggestions are made for improving the ‘working’ of such a system in a university environment.
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A Comparison of Saudi Arabian and United States Managerial Learning Tactics
David Noer |
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A Comparison of Saudi Arabian and United States Managerial Learning Tactics
David Noer
Elon University
This study compared Saudi Arabian and United States managerial learning tactics. The Learning Tactics Inventory (Dalton, 1999) was administered to a sample of Saudi Arabian and US managers to measure the degree to which they employed Action, Thinking, Feeling, or Accessing learning tactics. Results indicated that, relative to their United States counterparts, Saudi Arabian managers employed significantly more Accessing learning tactics. Implications for cross-cultural problem solving and future research are discussed.
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The Concept of an Advalucratice Organization
Kamel Moghrabi |
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The Concept of an Advalucratice Organization
Kamel Moghrabi
University of Graduate Studies, Jordan
This paper argues that current organizational structures and methods lack the ‘basic values’ to deal with human problems and that organizations need to adopt an ‘advalucratic’ structure if they are to have truly satisfied and productive employees. The characteristics that define such a structure and set it apart from existing structures are identified in the paper. It is argued that the basic values that underlie advalucratic organizations are best viewed as a set of limits that constrain management actions. The variables that serve as a foundation of these basic values should help organizations not only to become less reliant on the market place, but to be more informal, more adaptable and flexible. If most organizations adopt an advalucratic structure, there should be an increase in commitment on the part of the business world to basic values through the societal systems that result or ensue.
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A Service-based View of Porter’s Diamond Model of Competitive Advantage
Yiche Grace Chen, Pi-Feng Hsieh |
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A Service-based View of Porter’s Diamond Model of Competitive Advantage
Yiche Grace Chen
Yuan-Ze University, Taiwan
Pi-Feng Hsieh
Takming College, Taiwan
According to Porter (1990) successful firms in competitive markets generally consist of clusters of firms within industries that are linked via vertical or horizontal relationships. The present paper modifies Porter’s so-called diamond model of competitive advantage to take into account what is required for service firms to be competitively successful, rather than just the manufacturing firms manly in primary industries upon which the original model of Porter was based. In our analysis, service clusters are defined as agglomerates of firms which provide a service of one kind and are consumer-oriented. It is argued that such a service-based view of Porter’s model extends the model’s applicability besides providing insights of its own.
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The Implementation of Deming’s System Model to improve Security Management
Jenn Tang |
54 |
The Implementation of Deming’s System Model to improve Security Management
Jenn Tang
National Taipei College of Business, Taiwan
Threats to information security are increasing with the development of information technology and a greater dependence on the Internet. We report on a case-study of a telecommunications marketing company which has successfully changes from being a traditional trading company to a company that relies almost entirely on e-commerce. The PDCA model developed by Deming was used to design a security management system for this company. The system was designed to estimate the chances of breaches in security, to draw up appropriate policies and operational rules to deal with them, and to assure that the usability, integrity confidentiality of data in the company. The system helped the company obtain information security certification from the local accreditation agency, SGS Taiwan. Lessons are developed from the case study for the design and implementation of effective security systems.
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Relationship between Industry Characteristics of Firms and their Financial Statement Presentation Formats: An Empirical Study in the United States
Yu Cong |
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Relationship between Industry Characteristics of Firms and their Financial Statement Presentation Formats: An Empirical Study
in the United States
Yu Cong
Towson University
In this study, we examine whether a company’s choice of income statement format is associated with the company’s industry-specific and company-specific accounting characteristics. This study uses a unique data set of 8353 US companies that is constructed by combining the Compustat North America database with the extractions from the 10-K filings from the EDGAR database of the United States Security and Exchange Commission. Our results support our hypotheses that a company’s choice of income statement format is associated with the company’s Standard Industrial Classification Code (SIC) and several other accounting characteristics ascribed to financial ratios. Our finding suggests that the flexibility in selecting financial statement presentation formats allows companies to better disclose their industry-wide characteristics and thus facilitates better disclosure. Our finding also implies that such flexibility should be integrated into standards and tools for electronic financial reporting like XBRL.
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Impact of Personal Values and Innovativeness on Hedonic and Utilitarian Aspects of Web Use: An Empirical Study among United States Teenagers
Jonathan B. Hartman, Yassir M. Samra |
77 |
Impact of Personal Values and Innovativeness on Hedonic and Utilitarian Aspects of Web Use: An Empirical Study among United States Teenagers
Jonathan B. Hartman
Manhattan College
Yassir M. Samra
Manhattan College
An empirical study was undertaken to determine the origins of teen Web-use. High school students (n = 200) from two diverse American cities answered questionnaires about their values and innovativeness (proposed antecedents of Web-behavior). As predicted, teen values relate to innovativeness and, in turn, innovativeness relates to hedonic- and utilitarian-Web-consumption behavior; innovativeness fully mediates the relationship between values and Web-use. Results support theories arguing that intervening variables act between highly conceptual variables (e.g., personal values) and actual behavior. Implications are offered for youth development specialists, parents, and educators.
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Strategic Management of Family Businesses: Current Findings and Directions for Future Research
Nabil A. Ibrahim, John P. Angelidis, Faramarz Parsa |
95 |
Strategic Management of Family Businesses: Current Findings and Directions for Future Research
Nabil A. Ibrahim
Augusta State University
John P. Angelidis
St. John’s University
Faramarz Parsa
State University of West Georgia
Numerous articles have focused on the activities, planning processes, and effectiveness of large firms. However, in recent years a growing amount of research has recognized the importance of small family-owned businesses. This special attention has been reinforced by studies showing that family businesses have particular attributes that provide them certain competitive advantages. They are nimbler, more customer-oriented and quality focused, and more active in the community. As a result, they tend to outperform non-family firms. This paper discusses five streams of research and writing about these companies. Some researchers have attempted to distinguish between family businesses and non-family businesses by developing conceptual and operational definitions. Others have focused on finding attributes that distinguish between the two groups. A third line of research has addressed the relationship between planning and performance among family businesses. A fourth area has examined strategic management in these firms. The fifth stream of research has focused on a variety of topics such as succession, gender, non-family employees, and innovation.These studies provide many important insights; however, significant gaps in the literature remain. Thus important extensions of these research streams would be fruitful endeavors. The paper concludes with a number of research questions that merit further study.
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Effects of Cooperative Learning in a College Course on Student Attitudes toward Accounting: A Quasi-Experimental Study
Kai-Wen Cheng, Yu-Fen Chen |
111 |
Effects of Cooperative Learning in a College Course on Student Attitudes toward Accounting: A Quasi-Experimental Study
Kai-Wen Cheng
National Kaohsiung Hospitality College, Taiwan
Yu-Fen Chen
National Changhua University of Education, Taiwan
The effects of cooperative learning, learning by working on assignments in a team rather than individually, on student attitudes toward accounting, learning about accounting, and involvement in accounting activities were examined in a quasi-experimental study of 98 accounting students at a Technical College in Taiwan randomly assigned to a cooperative and non-cooperative leaning group. Data were collected from both groups before and after aiming the 18-week accounting course. Results showed that cooperative learning improved students’ attitudes toward accounting and the learning of accounting suggesting that there may be a place for cooperative learning, as a teaching method, among college students in a subject like accounting.
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Reflections on Doing Business in China: A Case Study
Margaret G. Cunningham, Daniel B. Cunningham, Daewoo Park |
119 |
Reflections on Doing Business in China: A Case Study
Margaret G. Cunningham
Xavier University
Daniel B. Cunningham
Long-Stanton Manufacturing Inc., Hamilton, Ohio
Daewoo Park
Xavier University
Developing efficient and effective supply chain networks with Chinese partners has become a critical source of strategic competitiveness for both large and small business firms. The current study describes the ‘journey’ of the CEO of a small business in the United States and its implications for future small business ventures in China, making the case that there is a good fit between Western entrepreneurial businesses and the current business climate in China.
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The Size and Scope of the Islamic Finance Industry: An Analysis
Faoud Al-Salem |
124 |
The Size and Scope of the Islamic Finance Industry: An Analysis
Faoud Al-Salem
Gulf University of Science and Technology, Kuwait
The few previous attempts to estimate the size and scope of the Islamic finance industry have been imprecise or incomplete. To fill this gap in knowledge, the present study summarizes estimations of the size and scope of the industry by its own practitioners in Kuwait and the Gulf Region. The study results show that over 60 per cent of the industry’s assets are in Middle East countries, that the average growth in the industry, measured by total assets controlled, is estimated to have been 25 per cent over the past five years. More data is needed to improve our understanding of what is a relatively new force in world banking.
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Relationship Between Major Personality Traits and Managerial Performance: Moderating Effects of Derailing Traits
Chet Robie, Douglas J. Brown, Paul R. Bly |
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Relationship Between Major Personality Traits and Managerial Performance: Moderating Effects of Derailing Traits
Chet Robie
Wilfrid Laurier University, Canada
Douglas J. Brown
University of Waterloo, Canada
Paul R. Bly
Thomson Corporation, Stamford
In this study of 144 executives (45%) and middle-level managers (55%) we investigated the moderating effects of a derailing trait composite measure on the relations between five major personality dimensions and boss ratings of overall performance, advancement potential, and career difficulty risk. The five major personality traits measured were openness, conscientiousness, extraversion, agreeableness, and emotional stability. A derailing trait is one that is associated with unexpected failure to reach a top position in an organization. The derailing trait composite was composed of five scales including: ego-centered, intimidating, manipulating, micro-managing, and passive-aggressive. Although received wisdom is that a “lack of character” is always detrimental to performance, the results of the study suggested that high scores on derailing traits will typically lead to higher performance ratings when examined across the executive success factors spectrum. Even though derailing traits moderated the relations between several of the personality factors and advancement potential and almost all of the personality factors and career risk difficulty, the expected level of performance for those high in derailing traits is typically much higher at low levels of the personality factors and virtually the same at high levels of the personality factors. The results suggest that derailment traits may actually be more functional than we previously thought. Implications for practice are noted.
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Effects of Integrative Strategies on the Production Efficiency of Biotech Firms: A Data Envelopment Analysis
Shing-Ko Liang, Jyun-Lin Jiang, Chia-Te Lai |
140 |
Effects of Integrative Strategies on the Production Efficiency of Biotech Firms: A Data Envelopment Analysis
Shing-Ko Liang
Wenzao Ursuline College of Languages, Taiwan
Jyun-Lin Jiang
National Chiao Tung University, Taiwan
Chia-Te Lai
National Chiao Tung University, Taiwan
The integration of companies through mergers, alliances or acquisitions as a strategy for improving production is relatively new in the biotech industry. In this paper, we investigate production efficiency in the biotech industry by Data Envelopment Analysis (DEA) before and after integration. In the DEA analysis, the sum of the total number of employees, total assets and research and development (R&D) expenses are used as the input variables whilst the operating incomes and profit margins of the companies are used as output variables. In the study the possible integrative targets of a particular Taiwanese biotech company were analyzed. 32 possible combinations open to the company by integrating with any of 16 other biotech companies were examined. The DEA method was shown to be a useful and efficient method for identifying the best company for a particular company to integrate with; that company combining with which will produce the greatest increase in production efficiency for the particular company.
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Generating Due Date Assignment Data Sets for the Single-Machine Scheduling Problem: A Managerial Perspective
James E. Holsenback, Jerry K. Bilbrey, Jr |
149 |
Generating Due Date Assignment Data Sets for the Single-Machine Scheduling Problem: A Managerial Perspective
James E. Holsenback
Francis Marion University
Jerry K. Bilbrey, Jr
Francis Marion University
The method of setting due dates for single machine tardiness and weighted tardiness problems has remained virtually unchanged for nearly 30 years. The current method assigns due dates after all job processing times are known. From the managerial perspective, however, jobs are assigned due dates as they arrive in the shop. Therefore, it is not possible to know all of the processing times prior to a job arriving at a shop. Researchers and managers need methods for setting due dates that will allow them to test the effectiveness of their algorithms developed for the single machine scheduling problem in a realistic environment. A new method is presented here that more nearly emulates this methodology by incorporating the processing time and the current shop load. Also, this study examines the impact of two factors upon problem difficulty and insight is offered into why previous results have been found. The study then evaluates the new method of setting due dates. The study demonstrates how the new method can be useful in setting due dates for problems with earliness and tardiness penalties, including the case where tardiness is prohibited. This will allow managers the ability to easily incorporate due date tightness into problems while controlling the expected fraction of tardy jobs. This should help or assist managers to run operations with this kind of problem more efficiently and effectively.
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The Relationship between Insurer Characteristics and Economies of Scale
James C. Hao |
160 |
The Relationship between Insurer Characteristics and Economies of Scale
James C. Hao
Tamkang University, Taiwan
The present study examines the relationship between insurer characteristics and economies of scale, using data from Taiwan. This study explores the average cost relationship between life insurers and each of ten insurer characteristics. The data used are drawn from 25 insurers. Evidence shows that the following independent variables are associated with economies of scale; premium income, new business ratio, proportion of whole life business, and size of insurer. Finally, economies of scale prevail in this study.
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The Effect of ISO Certification on Managerial Efficiency and Financial Performance: An Empirical Study of Manufacturing Firms
Yao-Chun Lee, Jin-Li Hu, Jia-Fu Ko |
166 |
The Effect of ISO Certification on Managerial Efficiency and Financial Performance: An Empirical Study of Manufacturing Firms
Yao-Chun Lee
National Chiao Tung University, Taiwan
Jin-Li Hu
National Chiao Tung University, Taiwan
Jia-Fu Ko
National Chiao Tung University, Taiwan
ISO 14000 is a set of standards that firms have to satisfy for certification. The aim of the standards is to improve the performance of firms, especially with respect to the environment. This paper studies 96 listed firms in four major categories of Taiwan’s manufacturing industry that obtained ISO 14000 certification during 1997-1999 period. Data envelopment analysis (DEA) and Wilcoxon signed-rank test are used to analyze the firms’ managerial efficiency and financial performance. It is found that ISO 14000 can be an effective strategy for Taiwan’s manufacturing firms to improve their managerial efficiencies and maintain competitiveness. Moreover, it is never too late for a firm to be ISO 14000 certified.
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Effect of Improvisation on Product Cycle Time and Product Success: A Study of New Product Development (NPD) Teams in the United States
Yassir M. Samra, Gary S. Lynn, Richard R. Reilly |
175 |
Effect of Improvisation on Product Cycle Time and Product Success: A Study of New Product Development (NPD) Teams in the United States
Yassir M. Samra
Manhattan College
Gary S. Lynn
Stevens Institute of Technology
Richard R. Reilly
Stevens Institute of Technology
For many years, the long established referral process for successfully developing and commercializing new products has been called a phased-review or “Stage-Gate” system. The purpose of this article is to test whether improvisation increases the odds of faster product launch and greater new product success throughout this process. Using a specially designed questionnaire, 392 NPD project managers were asked their opinion of their team’s use of a phased-review process and improvisation on their most recently completed NPD project, as well as how fast they were in launching the new product and how successful the new product was in the market. There was agreement that a structured NPD process increases efficiency and improvisation, as well as the likely success of new products in the market.
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A Factor Analytic Investigation of the Construct of Market Orientation
Syed Aziz Anwar |
186 |
A Factor Analytic Investigation of the Construct of Market Orientation
Syed Aziz Anwar
e-TQM College, Dubai, United Arab Emirates
This paper is a factor analytic investigation of the construct of market orientation. The sample for this study comprised 250 healthcare managers in the United Arab Emirates, each one of whom completed a research instrument containing 28 items about aspects of market orientation developed from focus group discussions and a review of literature, as well as 10 items to assess background variables. Five factors were extracted from the analysis that together accounted for 79 per cent of the total variance. These factors were labeled customer focus, competitive focus, environmental scanning, strategy implementation and development of new services new respectively. Future research with this instrument to assess market orientation is discussed.
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