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Full-Text Articles in Business
The Cascade Effect On Lending Conditions: Evidence From The Syndicated Loan Market, Wei-Shao Wu, H H Chang, Sandy Suardi, Yuanchen Chang
The Cascade Effect On Lending Conditions: Evidence From The Syndicated Loan Market, Wei-Shao Wu, H H Chang, Sandy Suardi, Yuanchen Chang
Sandy Suardi
This paper investigates, both theoretically and empirically, how interactions among potential lenders may influence contract terms via informational cascade in the syndicated loan market. Our model shows that the ex-post observed interest rate is higher and the probability of syndication failure is lower when potential lenders can only observe the decisions of their predecessors versus when they can freely communicate with each other. Empirical tests confirm the model's predictions and the existence of a cascade effect on lending conditions. Using relational distance to proxy for the segmentation of communication, we find that relational distance is positively related to the loan …
Central Bank Intervention, Threshold Effects And Asymmetric Volatility: Evidence From The Japanese Yen-Us Dollar Foreign Exchange Market, Sandy Suardi
Sandy Suardi
Recent empirical evidence of nonlinearities in the time series behaviour of exchange rates suggests that a linear model of the exchange rate may yield invalid inference when used to assess the effectiveness of central bank intervention. Using a double threshold GARCH model of the Japanese yen-US dollar exchange rates, we find that interventions by the Bank of Japan and the Federal Reserve are more effective in changing the direction of the exchange rate movements and reducing its volatility level in a regime when the exchange rates are severely misaligned. There is also evidence in such a regime for a negative …
Corporate Social Responsibility: Why Bother?, Lars Isaksson, Timothy Kiessling, Michael Harvey
Corporate Social Responsibility: Why Bother?, Lars Isaksson, Timothy Kiessling, Michael Harvey
Lars Isaksson
Corporate Social Responsibility (CSR) is not a new concept, but unfortunately has been defined in so many ways, it is often misinterpreted. In fact it has had 40 years to evolve from a somewhat infant concept to a successful managerial tool to build a company's reputation in the global market arena. Corporate social responsibility has become corporate strategic responsibility - an imperative element of corporate global business strategies. Many leaders, entrepreneurs, investors, executives and politicians now recognize CSR's potential for differentiation and positioning in the global marketplace. In the 21st century, we find CSR to have a remarkable acceptance among …
Strategizing Carbon-Neutral Mines: A Case For Pilot Projects, Ian Power, Jenine Mccutcheon, Anna Harrison, Siobhan Wilson, Gregory Dipple, Simone Kelly, Colette Southam, Gordon Southam
Strategizing Carbon-Neutral Mines: A Case For Pilot Projects, Ian Power, Jenine Mccutcheon, Anna Harrison, Siobhan Wilson, Gregory Dipple, Simone Kelly, Colette Southam, Gordon Southam
Simone Kelly
Ultramafic and mafic mine tailings are a valuable feedstock for carbon mineralization that should be used to offset carbon emissions generated by the mining industry. Although passive carbonation is occurring at the abandoned Clinton Creek asbestos mine, and the active Diavik diamond and Mount Keith nickel mines, there remains untapped potential for sequestering CO2 within these mine wastes. There is the potential to accelerate carbonation to create economically viable, large-scale CO2 fixation technologies that can operate at near-surface temperature and atmospheric pressure. We review several relevant acceleration strategies including: bioleaching of magnesium silicates; increasing the supply of CO2 via heterotrophic …
Strategizing Carbon-Neutral Mines: A Case For Pilot Projects, Ian Power, Jenine Mccutcheon, Anna Harrison, Siobhan Wilson, Gregory Dipple, Simone Kelly, Colette Southam, Gordon Southam
Strategizing Carbon-Neutral Mines: A Case For Pilot Projects, Ian Power, Jenine Mccutcheon, Anna Harrison, Siobhan Wilson, Gregory Dipple, Simone Kelly, Colette Southam, Gordon Southam
Colette Southam
Ultramafic and mafic mine tailings are a valuable feedstock for carbon mineralization that should be used to offset carbon emissions generated by the mining industry. Although passive carbonation is occurring at the abandoned Clinton Creek asbestos mine, and the active Diavik diamond and Mount Keith nickel mines, there remains untapped potential for sequestering CO2 within these mine wastes. There is the potential to accelerate carbonation to create economically viable, large-scale CO2 fixation technologies that can operate at near-surface temperature and atmospheric pressure. We review several relevant acceleration strategies including: bioleaching of magnesium silicates; increasing the supply of CO2 via heterotrophic …
The Development Of A Multi Variant Model For Market Intelligence Data Gathering For Australian Micro Businesses And Smes - A First Step In Unravelling The Paradox Of Big Picture Thinking By Small Market Players, Pauline Ross, Lee Styger
The Development Of A Multi Variant Model For Market Intelligence Data Gathering For Australian Micro Businesses And Smes - A First Step In Unravelling The Paradox Of Big Picture Thinking By Small Market Players, Pauline Ross, Lee Styger
Lee Styger
Micro businesses and SMEs have typically been encouraged to develop and implement "professional" business processes that will enable them to understand their business environment. The driver of this trend has typically come from a growth in the use of external "expert" sources (i.e. consultants and sponsored agents) who are not always fully associated with the business. This growth in external intervention has typically triggered an evolution in contemporary thinking and literature, that would lead us to believe that micro businesses and SMEs operate in a similar way, and with a similar structure, as larger organisations. This paper focuses on some …
Evaluating The Labor-Market Effects Of Compulsory Military Service, Thomas Bauer, Stefan Bender, Alfredo Paloyo, Christoph Schmidt
Evaluating The Labor-Market Effects Of Compulsory Military Service, Thomas Bauer, Stefan Bender, Alfredo Paloyo, Christoph Schmidt
Alfredo R Paloyo
We identify the causal effect of compulsory military service on conscripts' subsequent labor-market outcomes by exploiting the regression-discontinuity design of the military draft in Germany during the 1950s. Consistent estimates of military service on lifetime earnings, wages, and days of employment are obtained by comparing men born before July 1, 1937 (the "White Cohort") who were exempted from compulsory military service to men who were born on or shortly after this threshold date and who faced a positive probability of being drafted. We find that the putative earnings advantage and wage premium of those who served in the armed forces …
The Value Of Political Connections When Accessing The Ipo Market, Qigui Liu, Jinghua Tang, Gary Tian
The Value Of Political Connections When Accessing The Ipo Market, Qigui Liu, Jinghua Tang, Gary Tian
Qigui Liu
In this study we examined the value of political connections in firms' access to the IPO market using a sample of Chinese IPO applications from 2006 to 2010. We found a positive relationship between political connections and the probability of IPO approval, and this relationship is strengthened in entrepreneurial firms and weakened in those firms controlled by the state. We further provide evidence that entrepreneurial firms with a disproportional ownership structure and without high technology benefit more from political connections. Our additional tests showed that entrepreneurial (state) firms with political connections also performed better (worse) than firms without. We argue …
Capital Structure And Its Implications: Empirical Evidence From An Emerging Market In South Asia, Athula Manawaduge, Anura De Zoysa, Palli Mulla K A Chandrakumara
Capital Structure And Its Implications: Empirical Evidence From An Emerging Market In South Asia, Athula Manawaduge, Anura De Zoysa, Palli Mulla K A Chandrakumara
Anil Chandrakumara
Using panel data regression analysis for a sample of 171 companies, this paper examines the implications of capital structure of corporate entities in an emerging market, Sri Lanka. The results demonstrate that most of the Sri Lankan firms finance their operations with short-term debt capital as against the long-term debt capital. It provides strong evidence to indicate that debt capital has a negative impact on firm performance. The study also found a significant negative relationship between tangibility and performance indicating inefficient utilization of non-current assets. The negative performance implications associated with over-utilization of short-term debts and the under-utilization non-current assets …
The Value Of Political Connections When Accessing The Ipo Market, Qigui Liu, Jinghua Tang, Gary Tian
The Value Of Political Connections When Accessing The Ipo Market, Qigui Liu, Jinghua Tang, Gary Tian
Qigui Liu
In this study we examined the value of political connections in firms' access to the IPO market using a sample of Chinese IPO applications from 2006 to 2010. We found a positive relationship between political connections and the probability of IPO approval, and this relationship is strengthened in entrepreneurial firms and weakened in those firms controlled by the state. We further provide evidence that entrepreneurial firms with a disproportional ownership structure and without high technology benefit more from political connections. Our additional tests showed that entrepreneurial (state) firms with political connections also performed better (worse) than firms without. We argue …
Control And Accountability In The Nhs Market: A Practical Proposition Or Logical Impossibility?, John Glynn, David Perkins
Control And Accountability In The Nhs Market: A Practical Proposition Or Logical Impossibility?, John Glynn, David Perkins
John J Glynn
Within the NHS new quasi-market arrangements have divided management functions into three: (1) a policy/strategy function (deciding overall policy and resource allocation); (2) a buyer/commissioning function (developing and managing contracts to purchase services to achieve this policy); and (3) a contractor function (providing services to clients). For background on the formation of the NHS quasi-market see Le Grand and Bartlett[1] and Tilley[2]. In this “managed” market the strategy process has been somewhat removed from operational management. Throughout the 1960s and 1970s the medical profession continually acted to preserve their professionalism/monopoly with regard to choices over care and treatment, justified by …
Control And Accountability In The Nhs Market, John Glynn, David Perkins
Control And Accountability In The Nhs Market, John Glynn, David Perkins
John J Glynn
No abstract provided.
Control And Accountability In The Nhs Market: A Practical Proposition Or Logical Impossibility?, John Glynn, David Perkins
Control And Accountability In The Nhs Market: A Practical Proposition Or Logical Impossibility?, John Glynn, David Perkins
John J Glynn
Within the NHS new quasi-market arrangements have divided management functions into three: (1) a policy/strategy function (deciding overall policy and resource allocation); 2) a buyer/commissioning function (developing and managing contracts to purchase services to achieve this policy); and (3) a contractor function (providing services to clients). For background on the formation of the NHS quasi-market see Le Grand and Bartlett[1] and Tilley[2]. In this “managed” market the strategy process has been somewhat removed from operational management. Throughout the 1960s and 1970s the medical profession continually acted to preserve their professionalism/monopoly with regard to choices over care and treatment, justified by …
Regional Problems In The Implementation Of Labout Market Programs: Aboriginal Employment Programs In Australia, Robert Castle
Regional Problems In The Implementation Of Labout Market Programs: Aboriginal Employment Programs In Australia, Robert Castle
Robert G. Castle
No abstract provided.
A Technique For Measuring Efficiency Changes In The Provision Of Non-Market And Intangible Public Output, James Hagan, Robert Castle
A Technique For Measuring Efficiency Changes In The Provision Of Non-Market And Intangible Public Output, James Hagan, Robert Castle
Robert G. Castle
No abstract provided.
Integration Of Market Economies And The Rights Of Labour: International Regulation, Robert Castle, D P Chaudhri, Chris Nyland
Integration Of Market Economies And The Rights Of Labour: International Regulation, Robert Castle, D P Chaudhri, Chris Nyland
Robert G. Castle
No abstract provided.
Wage And Occupational Differences Between Black And White Men: Labor Market Discrimination In The Rural South, Lewis Smith, Vernon Briggs , Brian Rungeling, James Smith
Wage And Occupational Differences Between Black And White Men: Labor Market Discrimination In The Rural South, Lewis Smith, Vernon Briggs , Brian Rungeling, James Smith
Vernon M Briggs Jr
"The existence of labor market discrimination based on race is well established.However, study continues into a variety of aspects of discrimination-among them the extent to which it exists in different regions. Gwartney has estimated the ratio of black to white earnings to be between .83 and .88 for the North and between .68 and .74 for the South. Masters, in a study of earnings differentials between black and white men, found a ratio of .79 for the non-South and .69 for the South. Although considerable literature has developed concerning earnings differentials, wage discrimination in rural areas is one topic which …
Wage And Occupational Differences Between Black And White Men: Labor Market Discrimination In The Rural South, Lewis Smith, Vernon Briggs , Brian Rungeling, James Smith
Wage And Occupational Differences Between Black And White Men: Labor Market Discrimination In The Rural South, Lewis Smith, Vernon Briggs , Brian Rungeling, James Smith
Vernon M Briggs Jr
"The existence of labor market discrimination based on race is well established.However, study continues into a variety of aspects of discrimination-among them the extent to which it exists in different regions. Gwartney has estimated the ratio of black to white earnings to be between .83 and .88 for the North and between .68 and .74 for the South. Masters, in a study of earnings differentials between black and white men, found a ratio of .79 for the non-South and .69 for the South. Although considerable literature has developed concerning earnings differentials, wage discrimination in rural areas is one topic which …