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A Model for the Effective Management of Joint Ventures: A Case Study Approach
Michel Rod |
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A Model for the Effective Management of Joint Ventures: A Case Study Approach
Michel Rod
Victoria University of Wellington, New Zealand
Through use of a case study I illustrate the major issues that need to be addressed in joint venture development and management. It is both a retrospective and introspective analysis of the creation and first years’ operations of a joint venture in which I was involved between a healthcare organisation involved in infertility treatment and a consulting firm specialising in male-factor infertility diagnostics and the improvement of laboratory practices to World Health Organisation standards. First, a brief review of the joint ventures literature context is presented followed by a description of the case, with particular emphasis on the problem areas. Concepts from the literature are applied to an analysis of events in this venture in order to illustrate how and why it ultimately failed in identifying the various compatibility, economic and process-oriented factors that contributed to its failure as well as what the implications are for those involved in the development and ongoing management of such ventures. These implications encompass a series of questions that managers contemplating engaging in a joint venture need to ask themselves and their potential partners and they involve systematically looking at issues of compatibility in terms of respective organisational cultures, objectives, expectations, management styles, motives, reputations, organisational systems, policies, resources, skills, and knowledge in addition to such issues as prior interactions, trust, communication, and conflict resolution and a basic assessment of the costs versus benefits of collaboration.
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Using the Fourier Function to Estimate Scale and Scope Economies – The Case of Taiwan’s Life Insurance Industry
James C. Hao
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Using the Fourier Function to Estimate Scale and Scope Economies – The Case of Taiwan’s Life Insurance Industry
James C. Hao
Department of Insurance, Tamkang University, Taiwan
An empirical study is conducted on scale and scope economies for 25 Taiwan’s life insurance companies with panel data, from 1980 through 2004, using a Fourier flexible cost function developed by Gallant and a translog cost function, both of which take economic efficiency into account. It is found that the Fourier form is more appropriate than the traditional translog form in fitting the data, and that various efficiency measures computed using the Fourier function are compatible with each other, while those computed using the translog function are not. The Fourier evidence shows that life insurance companies continue to enjoy economies of scale, and exhibit scope diseconomies, which indicate that greater product diversification can reduce life insurance costs through product-mix economies. Life insurance companies may benefit from further diversifying their line of insurance services.
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Stock Option Grants, Current Operating Performance and Deferral of Earnings
Kiridaran Kanagaretnam, Robert Mathieu, Ramachandran Ramanan |
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Stock Option Grants, Current Operating Performance and Deferral of Earnings
Kiridaran Kanagaretnam
McMaster University, Canada
Robert Mathieu
Wilfred Laurier University, Canada
Ramachandran Ramanan
University of Notre Dame
We examine a potential negative consequence of stock option grants to the Chief Executive Officer (CEO). Using a large sample of public firms spanning the period 1992-2001, we classify firm-year observations into three groups based on the stock option proportion of total compensation to the CEO. We empirically document a negative relation between stock option proportion and contemporaneous operating performance. We provide evidence of earnings deferral manifested by significantly negative abnormal accruals for the group with high proportion of stock options.
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Assessing the Relationship between Financial Slack and Company Performance during an Economic Recession: An Empirical Study
Scott F. Latham, Michael R. Braun |
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Assessing the Relationship between Financial Slack and Company Performance during an Economic Recession: An Empirical Study
Scott F. Latham
Bentley College
Michael R. Braun
University of Montana
Research on whether financial slack helps or hinders the performance of the firm remains equivocal. One school of thought maintains that slack provides a degree of insulation from environmental change; the second school of thought suggests that slack desensitizes managers to environmental changes. Our study engaged the debate during an economic recession. We examined the effect of slack on performance in 450 software firms during the 2001-2003 economic downturn and recovery. Our measurement of slack specifically focused on available slack, which we gauged using the firm’s current ratio. The analysis revealed that organizations with more available slack demonstrated a more rapid rate of performance decline in the initial stages of the recession, but later in the recession they demonstrated a quicker rate of performance recovery.
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Developing a Quality Assurance Scheme for the Tourist Industry: A Managerial Perspective
Kang-Lin Peng, Ming-Chu Lin |
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Developing a Quality Assurance Scheme for the Tourist Industry: A Managerial Perspective
Kang-Lin Peng
Minghsin University of Science and Technology, Taiwan
Ming-Chu Lin
Minghsin University of Science and Technology, Taiwan
This paper is a benchmarking exercise to establish, by comparison with established best practice, quality standards for ‘home stay’ accommodation provided to visitors in Taiwan. In-depth interviews were conducted with 11 owner-managers in Britain and Taiwan. The results suggest the possibility of using the quality assurance scheme practiced in the British bed-and-breakfast industry as a reference for the ‘home stay’ industry in Taiwan. From the findings, we argue that quality assurance grading schemes in this sector help to build trust among the public and improve the reputation of the industry. Suggestions for implementing such a scheme are discussed.
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The Effect of Management Practices on Corporate Performance: An Empirical Study of Non-Governmental Organizations in the Middle East
Michel Soto Chalhoub |
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The Effect of Management Practices on Corporate Performance: An Empirical Study of Non-Governmental Organizations in the Middle East
Michel Soto Chalhoub
Lebanese American University, Lebanon
The objective of this paper is to provide a framework that relates non-government organization (NGO) internal management practice to corporate performance and to study the effect of senior management initiatives taken inside the organization on the overall performance of the entity. The internal initiatives addressed in this paper are (1) the time span of corporate strategy, (2) the NGO’s internal management techniques and practice, (3) industrial, government relations, and image, (4) ability to navigate through the external environment with a market-driven philosophy, (5) human resource development, and (6) spirit and culture of volunteerism among staff and managers. NGO corporate performance is represented by outcomes developed in the paper, related to sustainability of the NGO, its volume of operations, the deliverability of its services, and the quality of its project products. We then validated our suggested theoretical framework through an empirical analysis of NGOs based in Lebanon and operating in the Middle East. Data was collected by means of a questionnaire developed from preliminary interviews with managers from a subset of 12 NGOs, followed by data collected from 115 NGOs. Empirical results show that NGO corporate performance is significantly and positively correlated with the time span of the strategic plan, industry and government relations, and senior management ability to maneuver in the external environment with market-driven philosophy. However, the internal management model and the human resource development plan were not found to be significant. This could be due to the structure of the projects that are funded through international donors.
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International Assignments and the Career Management of Repatriates: The Boundaryless Career Concept
Ursula Wittig-Berman, Nicholas J. Beutell |
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International Assignments and the Career Management of Repatriates: The Boundaryless Career Concept
Ursula Wittig-Berman
Iona College
Nicholas J. Beutell
Iona College
This paper reviews the recent literature discussing the challenges of repatriation and the possible strategies for meeting them. It reviews past recommendations to HR professionals and ongoing changes in international staffing practices and their effects on repatriation issues. The consequences of unsuccessful repatriation are identified and their implications for global employee management are discussed. The implications of these global changes for career management are recognized and the boundaryless career concept is discussed as a framework for studying careers on a global scale. Suggestions are made for future research in the area of global employee management.
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The Development of a Framework for Studying Ecotourism
Tomas H. Parks, Tomas A. Parks, Christine Allen |
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The Development of a Framework for Studying Ecotourism
Tomas H. Parks
Mount Vernon Nazarene University
Tomas A. Parks
Mount Vernon Nazarene University
Christine Allen
Mount Vernon Nazarene University
Ecotourism is a growing industry propelling economic growth and advancement in many lesser developed countries. Its appeal largely resides in its interaction with natural environments and educational experiences, while at the same time promoting sustainable development. However, there is currently a lack of standards in place for evaluating the diverse entrants in the ecotourism industry. Each enterprise has distinct goals and mindsets in place that result in very different levels of impact on the surrounding environment and community. The purpose of this article is to create a framework that identifies the standards necessary for studying ecotourism ventures.
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Survey of Recent Developments in Strategic Management: Implications for Practitioners
Sal Kukalis |
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Survey of Recent Developments in Strategic Management: Implications for Practitioners
Sal Kukalis
California State University Long Beach
This paper is a survey of recent developments in the field of strategic management. Specifically, this paper argues that recent political, economic, and social changes, among other things, have had relatively little impact on operations in organizations, but have made a big difference to the planning and strategic aspects of management. The analysis and synthesis of the recent developments in strategic management developed in this paper argues that strategic management is entering ‘a new era’ in which
(1) stakeholders interests are more important than before and (2) there is a greater concern for social responsibility than ever before. According to the analysis, these features of the new era are deep and pervasive trends that are much more than just responses to recent events such as corporate scandals.
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The Effect of Organizational Factors on Managerial Satisfaction with ISO9001 Quality Standard Certification: An Empirical Study
Jenn Tang, S. C. Lee |
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The Effect of Organizational Factors on Managerial Satisfaction with ISO9001 Quality Standard Certification: An Empirical Study
Jenn Tang
Chihlee College of Technology, Taiwan
S. C. Lee
Chihlee College of Technology, Taiwan
The present study examines the effect of organizational factors on managerial satisfaction with ISO quality standard certification. In-depth interviews were conducted with managers at 30 companies in the electrical and engineering industry. Three organizational factors hypothesized to affect reactions to this quality standard on the part of managers were identified and measured; the amount of its assets, the number of employees, and the length of time the firm had been in existence, its establishment period. We also measured the degree to which the interviewed managers were satisfied with their firm’s collaboration with the certification process. Analysis of the interview responses, suggest that collaborative satisfaction on the part of managers is related to each of these three organizational factors, specifically managers in firms with more assets, and a greater number of employees were more satisfied, whereas those in firms with a shorter establishment period were less satisfied. It is argued that, at the individual level, to improve collaboration with the certification process, those responsible should encourage employees in the participating firms to commit themselves directly to the ISO9001 principles. At the departmental level they should assist firms in integrating their business processes and putting them on a more systematic basis, while at the firm level they should assist firms in incorporating quality standards into all their various business processes, on a routine and on-going basis.
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The Development of an Online Simulation Model for Managing Inland Waterway Fleets
Jerry K. Bilbrey, Jr., Paul M. Schonfeld |
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The Development of an Online Simulation Model for Managing Inland Waterway Fleets
Jerry K. Bilbrey, Jr.
Troy University
Paul M. Schonfeld
University of Maryland
Online simulation is a recently developed control strategy for managing existing systems. These simulation models allow short-term decision making as well as traditional long-term decision making. It has been shown in the literature by Ting and Schonfeld [13] that timely information about upcoming delays can yield significant savings in operating expenses. This paper extends that concept by presenting an online evaluation model to present decision makers with real-time information for making cost-effective decisions about inland waterway operations. The model’s results provide decision makers with useful predictions to help optimize their decisions regarding fleeting, scheduling, and other aspects of operations. The model predicts congestion levels through its calculation of the number of tows in different parts of the system. These congestion levels indicate likely delays and give managers much needed real-time information in for optimizing decisions. This model contributes a new method using online simulation for short-term decision making on inland waterway systems.
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Employee Trust, Commitment and Satisfaction as Moderators of the Effects of Idealized and Consideration Leadership on Voluntary Performance: A Structural Equation Investigation
Tser-Yieth Chen, Shiuh-Nan Hwang, York Liu |
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Employee Trust, Commitment and Satisfaction as Moderators of the Effects of Idealized and Consideration Leadership on Voluntary Performance: A Structural Equation Investigation
Tser-Yieth Chen
National Taipei University, Taiwan
Shiuh-Nan Hwang
Ming-Chuan University, Taiwan
York Liu
Ming-Chuan University, Taiwan
This study examined the causal effects of idealized and consideration leadership and the mediating roles of trust, commitment, and satisfaction on the performance of voluntary employees. Based on the LISREL model, this study demonstrated that idealized leadership both directly and indirectly affected the voluntary performance of employees, mediated through follower trust, commitment, and satisfaction in their leader. The results demonstrated that consideration leadership directly influences satisfaction, while idealized leadership directly influences trust. Notably, commitment directly and significantly influences employee voluntary performance. Consideration does not influence follower trust due to the lack of visionary effects. Again, idealized leadership does not influence follower satisfaction, owing to the limitations of the motivation effects. The analytical results demonstrated that the model for measuring leadership practices was valid and reliable.
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Relative Effects of Debt and Equity on Corporate Operating Performance: A Quantile Regression Study
Min-Tsung Cheng |
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Relative Effects of Debt and Equity on Corporate Operating Performance: A Quantile Regression Study
Min-Tsung Cheng
Ching Yun University, Taiwan
This study examines the relative effects of debt and equity financing on the operating performance of companies. The sample was collected from a large panel of quarterly financial datasets of listed companies in Taiwan covering the 10-year period from 1995 to 2004. Following the work of Kadapakkam et al. (2004), the study defines operating performance as cash flow over sales. Over the sample period, the average operating performance of the sample of companies was is around 0.02 with a maximum of 0.445 and a minimum of -0.415. A quantile regression analysis of the panel data showed that apart from high cash flow firms, debt financing has significantly negative effects on operating performance, suggesting that how a firm decides to raise capital, whether by means of debt or equity, can make a difference to the performance of the company.
As such it is an important question that is not without its potential risks or benefits.
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Anticipated Rivalry as a Moderator of the Relationship between Firm Resources and Performance
Somnath Lahiri, Ben L. Kedia, S. Raghunath, Narendra M. Agrawal |
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Anticipated Rivalry as a Moderator of the Relationship between Firm Resources and Performance
Somnath Lahiri
Illinois State University
Ben L. Kedia
University of Memphis
S. Raghunath
Indian Institute of Management, India
Narendra M. Agrawal
Indian Institute of Management, India
Although interfirm rivalry as a determinant of firm behavior and performance has been extensively discussed in the literature, there has been little examination of the influence of rivalry that is not current but can potentially unfold in the future. This study investigates the effect of anticipated rivalry on the relationship between crucial firm resources and firm performance. Firm resources are measured by assessing the extent of human capital and organizational capital that a firm possesses and the extent to which held partnerships matches firm’s expectations (partnership quality). Anticipated rivalry is hypothesized to strengthen the relationship between firm resources and performance. Data for this study were obtained from the managers of 105 Indian business process outsourcing (BPO) provider firms who responded to a specially-developed questionnaire. Our empirical analysis suggests that higher anticipated rivalry results in stronger associations of human capital and organizational capital with firm performance but weaker association of partnership quality with performance. Lower anticipated rivalry results in exactly opposite effects. We note practical implications of this study and identify areas of future inquiry.
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An Analysis of Price Competition in the Gasoline Industry using Game Theory
Ming-Chung Chang, Yung-Ho Chiu |
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An Analysis of Price Competition in the Gasoline Industry using Game Theory
Ming-Chung Chang
Kainan University, Taiwan
Yung-Ho Chiu
Soochow University, Taiwan
In the era of high petroleum prices, competition in the petroleum industry has become stronger. Because the petroleum industry is an oligopoly, price competition in this industry can be analyzed by means of game theory. In this study we examine the effects on gasoline prices of differences between the firms in corporate type, in cost structure, and in product quality. Our analysis of data from the Taiwanese petroleum industry over 2004 a year, using game theory suggests that if two competitors engage in direct price competition, then the public enterprise is likely to set higher prices when its costs are relatively high, and that product quality effects price competition with the price differences between the two competitors being insignificant when the differences between the quality of their respective products is sufficiently small
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