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Full-Text Articles in Business Administration, Management, and Operations

The Motives For Mergers And Acquisitions And Their Implications For Research And Practice, Kris Irwin, Craig Armstrong, Paul Drnevich, Mario Schijven Jan 2025

The Motives For Mergers And Acquisitions And Their Implications For Research And Practice, Kris Irwin, Craig Armstrong, Paul Drnevich, Mario Schijven

Management Faculty Publications

Mergers and Acquisitions (M&A) have long intrigued scholars given their size, complexity, and frequent failure. Despite an extensive body of research on M&A, a key limitation in M&A research is the lack of focus on the motives underpinning acquisitions, which may explain frequent mixed and inconclusive results. Much of the existing literature struggles to fully capture the complex and multifaceted nature of these motives, limiting the ability to draw consistent conclusions. In this paper, we review academic and practical perspectives on M&A motives, highlighting both discrepancies and methodological challenges. Our key contributions include a comparison of theoretical and practical insights, …


Not Exactly "Perfect," But Pretty Darn Good: A Review Of Michael Schur's Book- How To Be Perfect: The Correct Answer To Every Moral Question, Justin Pepe Jan 2025

Not Exactly "Perfect," But Pretty Darn Good: A Review Of Michael Schur's Book- How To Be Perfect: The Correct Answer To Every Moral Question, Justin Pepe

Management Faculty Publications

How to Be Perfect: The Correct Answer to Every Moral Question provides a quick-start guide to addressing ethical challenges by using humor to make complex philosophical concepts accessible. Based on the premise that traditional ethics pedagogy is often stodgy, esoteric, and depressing, the book appeals to students and professionals who find conventional texts unapproachable. By blending humor with moral philosophy, it offers a fresh way to develop ethical reasoning in students and employees. This book can help address the urgent need for managers and professionals to build the ethical capabilities necessary to tackle grand challenges.


Worknest: Balancing Focus And Life For Remote Workers, Adil Chaqra Jan 2025

Worknest: Balancing Focus And Life For Remote Workers, Adil Chaqra

Bakerman Student Research Awards

Many people now work from home or flexible spaces so which makes it really difficult to separate work from personal life. This often leads to overworking, distractions, burnout, and poor focus so remote workers struggle with interruptions/ irregular breaks, and feeling mentally stuck in work mode even after hours. The proposed solution, WorkNest, is a suite of connected tools including a desktop app, mobile app, and wristband that help remote workers track their focus time and manage breaks interruptions, and stay aware of their worklife balance by combining reminders and simple visual summaries along with some nonintrusive cues, WorkNest supports …


Assessing Environmental Performance Through Environmental Management Initiatives, Green Extrinsic And Intrinsic Motivation, And Resource Commitment In Malaysian Hotels, Ataul K. Patwary, S. Mostafa Rasoolimanesh, Roslizawati C. Aziz, Muhammad U. Ashraf, Md Mahmudul Alam, Shafique U. Rehman Jan 2025

Assessing Environmental Performance Through Environmental Management Initiatives, Green Extrinsic And Intrinsic Motivation, And Resource Commitment In Malaysian Hotels, Ataul K. Patwary, S. Mostafa Rasoolimanesh, Roslizawati C. Aziz, Muhammad U. Ashraf, Md Mahmudul Alam, Shafique U. Rehman

Research outputs 2022 to 2026

The level of dedication that an organization has toward the preservation of the natural environment is reflected in its environmental performance. This study evaluates the role of green extrinsic and intrinsic motivation and resource commitment on Malaysian hotel employees’ environmental performance. It also examines the mediating roles of green extrinsic and intrinsic motivation and resource commitment in the relationship between green management initiatives and hotel environmental performance. Data was collected from the Four- and five-star hotel employees and tested the models and hypotheses of this study by employing partial least squares-structural equation modeling. Green extrinsic and intrinsic motivation significantly influence …


Provision Cfo: Empowering Strategic Financial Excellence For Small Businesses And Entrepreneurs, Cindra Vang Jan 2025

Provision Cfo: Empowering Strategic Financial Excellence For Small Businesses And Entrepreneurs, Cindra Vang

Doctor of Strategic Leadership (DSL) Capstone Abstracts

Project Overview

ProVision CFO offers strategic financial management solutions tailored to the unique needs of entrepreneurs, small businesses, and rapidly growing organizations. This project aims to equip clients with robust financial strategies and actionable insights necessary for sustainable growth, operational excellence, and long-term success. ProVision CFO provides comprehensive financial guidance including fractional CFO and accounting services.

Project Themes

The ProVision CFO framework encompasses three key components designed to optimize financial performance and organizational effectiveness. Component One—Strategic Clarity: Establishing clear financial goals aligned with organizational vision, mission, and values. Component Two—Financial Optimization: Providing accounting services to streamline financial processes and enhance …


Necessary Configuration Analysis (Nconfa): A New Multivariate Approach, S. Mostafa Rasoolimanesh, Hesam Olya Jan 2025

Necessary Configuration Analysis (Nconfa): A New Multivariate Approach, S. Mostafa Rasoolimanesh, Hesam Olya

Research outputs 2022 to 2026

This paper introduces a new analytical method, Necessary Configuration Analysis (NConfA), which advances asymmetrical analysis by determining the necessity of configurations–combinations of factors–rather than focusing on individual conditions. While existing methods such as fuzzy-set Qualitative Comparative Analysis (fsQCA) and Necessary Condition Analysis (NCA) assess the necessity of single conditions or factors, NConfA provides deeper insights into multivariate relationships. It identifies necessary configurations crucial for achieving desired outcomes in complex social phenomena. This paper includes a step-by-step guide and an illustrative example of this technique, offering opportunities for reanalysing prior studies and expanding applications to fields such as service research and …


Talent Management – Bibliometric Analysis, Marcin Żemigała Jan 2025

Talent Management – Bibliometric Analysis, Marcin Żemigała

Studia i Materiały Wydział Zarządzania Uniwersytet Warszawski

Purpose: The aim of this article is to identify the main trends in talent management research. This primarily concerns trends in talent management research over time, across various scientific disciplines, and the identification of leading academic centres, countries, and key publications in the field.

Design/methodology/approach: The main research question is: What are the main trends in academic research on talent management over time? Bibliometric methods were used for the analysis, and the dataset was retrieved from the academic bibliographic database Scopus. The dataset consisted of 1,571 records of academic articles (including reviews and conference papers) in English from …


Adapting Project Management Life Cycles For Blockchain Implementation: A Thematic Pilot Study., Cherie Noteboom, Aravindh Sekar, Deb Tech Jan 2025

Adapting Project Management Life Cycles For Blockchain Implementation: A Thematic Pilot Study., Cherie Noteboom, Aravindh Sekar, Deb Tech

Research & Publications

Blockchain implementation challenges traditional project management practices due to its decentralized, cross-organizational nature. This exploratory study examines how project management life cycle processes must adapt to support successful blockchain adoption. Using open coding and thematic analysis of five expert interviews, key themes were identified and mapped to the five PMBOK process groups. The findings reveal that blockchain projects demand broader stakeholder engagement, iterative planning, human-centered execution, decentralized monitoring, and long-term sustainability planning. By aligning emergent themes with established project management phases, this study highlights the need for a flexible, ecosystem-focused approach to managing blockchain initiatives. The results offer practical insights …


Introducing Sustainable Development Goals In College Curricula: A Way Forward, Christy Ashley, Jason D. Oliver, Hillary Leonard Jan 2025

Introducing Sustainable Development Goals In College Curricula: A Way Forward, Christy Ashley, Jason D. Oliver, Hillary Leonard

Markets, Globalization & Development Review

The commentary proposes a blueprint to help guide curriculum innovations, partnerships, and teaching interventions that incorporate the United Nations sustainable development goals (SDGs) into the curriculum. It suggests the utilization of AACSB’s Societal Impact Canvas with Ancona et al.’s (2007) Leadership Capabilities (Sensemaking, Relating, Visioning, Inventing) to provide a blueprint for mission-aligned SDG integration at a local level. It provides an illustrative example from the University of Rhode Island (USA), where the focus is on the Blue Economy. It aims to provide practical guidance for how a college or university can efficiently organize to gain stakeholder input that helps enhance …


Board Attributes, Firm Performance, And The Moderating Role Of National Culture: A Meta-Analysis, Matthew Farrell, Chris H. Willis, Nathapon Siangchokyoo, Ryan L. Klinger, Jamil Kreugel, Hami Usta, Timiry R. Tian, Ying Thaviphoke, Samuel Wilson Jan 2025

Board Attributes, Firm Performance, And The Moderating Role Of National Culture: A Meta-Analysis, Matthew Farrell, Chris H. Willis, Nathapon Siangchokyoo, Ryan L. Klinger, Jamil Kreugel, Hami Usta, Timiry R. Tian, Ying Thaviphoke, Samuel Wilson

Business

The impact of board structures on firm performance remains a contentious governance topic with competing theoretical paradigms and inconclusive empirical support. Scholars propose that national culture could reconcile contradictory evidence; yet, argumentation is fragmented and direct tests are rare. We meta-analyzed 513 samples across 54 countries to examine relationships between board structures (i.e., board size, board independence, and CEO duality) and firm performance. We model national culture, using Hofstede's six cultural dimensions, as moderators to test whether these relationships align with agency or stewardship theory across different cultural settings.


Dominance Of Leading Business Schools In Top Journals: Insights For Increasing Institutional Representation, Rodrigo Romero-Silva, Erika Marsillac, Sander De Leeuw Jan 2025

Dominance Of Leading Business Schools In Top Journals: Insights For Increasing Institutional Representation, Rodrigo Romero-Silva, Erika Marsillac, Sander De Leeuw

Information Technology & Decision Sciences Faculty Publications

The competitive push for business schools to publish in prestigious journals has resulted in a disproportionate number of papers in prestigious Management and Operations Research/Management Science (OR/MS) journals coming from a select group of institutions. Our analysis shows the Matthew effect of prestigious journals favors established schools with 51.2% of papers in 18 Management ABS 4* journals and 61.3% of papers in 3 OR/MS ABS 4* journals involving authors from the 100 top business schools identified by the University of Texas at Dallas (UTD). Citation patterns are similarly concentrated among papers authored by scholars from UTD-listed business schools, with nearly …


A Question For The Ages: The Relationship Between Nurse Staffing And Quality In Appalachian Skilled Nursing Facilities, Eric Jason Pulice Jan 2025

A Question For The Ages: The Relationship Between Nurse Staffing And Quality In Appalachian Skilled Nursing Facilities, Eric Jason Pulice

Theses, Dissertations and Capstones

Nurse staffing levels have been shown to have a critical impact on nursing quality in skilled nursing facilities (SNFs). Sociodemographic disparities in Appalachian areas have the potential to impact SNF nurse staffing levels and quality. This study examined the relationship between nurse staffing levels and quality in Appalachian SNFs, as well as compliance with the Biden Administration’s minimum staffing mandates as set forth in CMS-3442-F enacted on June 24, 2024.

The study applied Resource Dependency Theory (RDT) through Donabedian’s Structure-Process-Outcome (SPO) conceptual framework to assess how external resource constraints and regulatory policies impact nurse staffing levels and quality in Appalachian …


Applications Of Systems Thinking In Honors Education: The Justice Challenge, Rebecca C. Bott, Jonathan D. Kotinek, Timothy J. Nichols, Heidi Appel, Andrea Radasanu, Joy L. Hart Jan 2025

Applications Of Systems Thinking In Honors Education: The Justice Challenge, Rebecca C. Bott, Jonathan D. Kotinek, Timothy J. Nichols, Heidi Appel, Andrea Radasanu, Joy L. Hart

Honors in Practice Online Archive

Honors education has long been praised for its potential as a test bed for curricular innovation. A wide variety of high-impact practices have been employed to prepare honors students to think critically and tackle complex problems. Examination of the use of systems thinking within pedagogical practices in honors education is, however, nearly nonexistent in the literature. The authors present a brief introduction to systems thinking; review its use within honors curricula; and examine how a nationwide collaborative of honors educators equips students with systems thinking tools to learn about and engage with complex interdisciplinary problems. The authors characterize systems thinking …


A Mixed Methodology Study On Effective Products And Services For Consulting Firms, Doc S. Dillard Jan 2025

A Mixed Methodology Study On Effective Products And Services For Consulting Firms, Doc S. Dillard

Doctor of Education Dissertations

This study evaluated organizational effectiveness within small- to medium-sized educational technology and technology-adjacent organizations for consulting firms to develop appropriate products and services for clients. This allowed consulting firms to develop innovation in their approaches. More specifically, this research supported consulting firms specializing in educational technology in developing products and services for industry leaders to improve organizational effectiveness. The research employed a mixed methodology consisting of 10 educational technology leaders. Data were collected from survey questions and through evaluating related literature. The literature compiled included organizations across education, technology, and technology-adjacent industries. The research evaluated organizations through McKinsey’s 7S framework. …


Positive Reinforcement In Leadership, Jen Lee Williams Jan 2025

Positive Reinforcement In Leadership, Jen Lee Williams

M.S. in Leadership

This project examined whether leaders’ use of positive reinforcement
improves team retention, satisfaction, and performance across Generation
X, Millennials, and Generation Z. Jen Williams selected this topic due to the
rising turnover challenges and lack of consistent reinforcement training in
leadership practice. Using mixed-methods design, the study combined a
quantitative survey of 13 working professionals with a qualitative interview
from a Generation X leader participant. Results showed that over 92% of
the participants felt motivated by recognition, and 72% linked
reinforcement to increased satisfaction and desire to stay with their
organization. Generational differences appeared in frequency, authenticity,
and emotional sensitivity …


Rejected From Pastoral Leadership: A Phenomenological Study Of The Voice And Lived Experiences Of African American Pentecostal Women In Clergy, Cynthia Ann Hurns Jan 2025

Rejected From Pastoral Leadership: A Phenomenological Study Of The Voice And Lived Experiences Of African American Pentecostal Women In Clergy, Cynthia Ann Hurns

Dissertations

The study explored the lived experiences of 10 African American Holiness-Pentecostal clergywomen who faced rejection in a predominantly male-led church system. These women shared detailed stories of their experiences in leadership as pastors, apostles, and co-pastors. A qualitative phenomenological methodology was employed, using interpretative phenomenological analysis (IPA) because it allows for in-depth exploration of how people make sense of their experiences, aligning with the study’s focus on leadership journeys. Data were collected through semi-structured interviews and analyzed through descriptive and iterative coding. Codes were grouped into broader categories, resulting in five emerging themes: voiceless calling, bound to tradition, call from …


The Role Of Intangible Assets In Shaping Firm Value, Feng Dong, John Doukas Jan 2025

The Role Of Intangible Assets In Shaping Firm Value, Feng Dong, John Doukas

Finance Faculty Publications

This study introduces a new metric to evaluate a firm's intangible asset intensity, focusing on its ability to generate revenue from nonphysical assets. It finds a strong positive correlation between firm performance and both internally generated and externally acquired intangible assets. Firms with high intangible intensity outperform peers by 3% annually. The oversight of intangible assets is identified as a factor in value stocks' underperformance. Rigorous tests, including endogeneity checks, confirm these firms exhibit superior accounting quality, labour investment efficiency and acquisition returns. A framework highlights how managerial attributes enhance firm value through decision-making.


The Federal Reserve’S Fight Against Covid-19: A Study Of The Corporate Bond Intervention, Noah Seilgson Jan 2025

The Federal Reserve’S Fight Against Covid-19: A Study Of The Corporate Bond Intervention, Noah Seilgson

Fordham Journal of Corporate & Financial Law

In response to the COVID-19 pandemic, the Federal Reserve (Fed) embarked on an unprecedented mission to stabilize the U.S. economy as businesses shut down. One emergency Fed facility, the Secondary Market Corporate Credit Facility (SMCCF), was used to purchase corporate bonds and corporate bond exchange-traded funds (ETFs) in the secondary market. This extraordinary measure, which injected liquidity into the corporate bond market, aimed to mitigate economic fallout for large companies. Purchasing corporate bonds marked a departure from previous Federal Reserve interventions, but the statutory authority was the same as had been used in past crises: Section 13(3) of the Federal …


Company Districts, C.J. Suglia Jan 2025

Company Districts, C.J. Suglia

Fordham Journal of Corporate & Financial Law

Special districts that are owned or controlled by private entities and act almost uniformly like a company town can be dubbed a “company district.” These special districts, similar to historical company towns, have autonomy over the districts, control the local government, and only have to answer to the state government. Historical company towns like Pullman, Illinois and Hershey, Pennsylvania had almost canonical command over the land within their boundaries. Company districts operate their business similar to a company town—in a city that the private entity controls, but do not have employees living on-site. Company districts benefit by being immune to …


Alternatives To Delaware? Evaluating Corporate Law In Nevada, Texas, And Wyoming, Joseph Landau, Bailey Swartz, Anthony Rickey, Robert Ragazzo, Benjamin Edwards, George A. Mocsary Jan 2025

Alternatives To Delaware? Evaluating Corporate Law In Nevada, Texas, And Wyoming, Joseph Landau, Bailey Swartz, Anthony Rickey, Robert Ragazzo, Benjamin Edwards, George A. Mocsary

Fordham Journal of Corporate & Financial Law

No abstract provided.


Algorithms In Finance: Balancing First Amendment Protections And Regulation, Yusraa Tadj Jan 2025

Algorithms In Finance: Balancing First Amendment Protections And Regulation, Yusraa Tadj

Fordham Journal of Corporate & Financial Law

As algorithms become a function of decision-making in the financial sector, policymakers, the judiciary, and academics grapple with regulatory questions. With the increased reliance on algorithms in finance, the Securities and Exchange Commission (SEC) proposed a rule to mitigate potential conflicts of interest that can arise out of financial firms using algorithms. Algorithm users, including financial firms, are finding novel ways to protect algorithm use, such as by offering them First Amendment protections.

This Note considers to what extent algorithms can be considered protected speech amidst the complexity of algorithms and relationship within the financial sector. The Note argues that …


How Personalized Chatbots Win Customer Loyalty, Jaeha Lee, Dooyoung Choi Jan 2025

How Personalized Chatbots Win Customer Loyalty, Jaeha Lee, Dooyoung Choi

Educational Leadership & Workforce Development Faculty Publications

The study applies affordance theory to investigate how perceived personalization influences loyalty through cognitive, affective, and social drivers. Data was collected from 220 participants who watched a video of a chatbot interaction and then assessed their loyalty intentions. While all paths were significant between personalization and consumer’s willingness to stay, the effects of personalization on consumer’s willingness to recommend the retailers to others were slightly different. If companies aim to capitalize on word-of-mouth marketing, it will be better to prioritize cognitive and affective qualities of chatbot over social qualities, because the latter did not contribute significantly to word-of-mouth intentions about …


Bridging Top-Down Values And Bottom-Up Practices: A Case Study On A Rebar Fabrication Facility, Kaitlynn J. Martin Jan 2025

Bridging Top-Down Values And Bottom-Up Practices: A Case Study On A Rebar Fabrication Facility, Kaitlynn J. Martin

Undergraduate Theses, Professional Papers, and Capstone Artifacts

This study examines how alignment between top-down corporate values and bottom-up shop-floor practices influences culture and productivity within metal manufacturing. Using a qualitative case study of a rebar fabrication facility, observations were conducted across two periods to assess how leadership communication, safety culture, and teamwork evolved in response to management changes. The analysis integrates lean Six Sigma principles with organizational culture theory to evaluate how leadership behaviors shape safety adherence, cross-training, and operational performance. Findings reveal that when corporate values, particularly safety and collaboration, are actively modeled by local leadership, they become embedded in daily behavior, leading to improvements in …


Governance And Innovation In Plastic Waste Management: The Case Of Japan, Minoo Tehrani, Yu Cui Jan 2025

Governance And Innovation In Plastic Waste Management: The Case Of Japan, Minoo Tehrani, Yu Cui

Business Faculty Publications

This study investigates plastic waste management, focusing on Japan. The volume of plastic waste in Japan is more than eight million tons, and less than a quarter of the plastic waste is subjected to recycling. Considering that Japan is an archipelago consisting of a combination of four large islands and numerous smaller ones, plastic waste that enters the ocean poses significant threats to marine life, birds, other living beings, and beach pollution. This research explores the underlying factors that have made Japan one of the highest users of plastic. In addition, this study evaluates different strategies that are utilized in …


The Relationship Between Mental Health Disclosures, Employee Sentiments And Turnover Intention In The Workplace, Steve G. Winkel Jan 2025

The Relationship Between Mental Health Disclosures, Employee Sentiments And Turnover Intention In The Workplace, Steve G. Winkel

Open Access Dissertations

Purpose. The purpose of this study is to examine the relationship between employees’ disclosure of mental health conditions in the workplace and these employees’ sentiments, feelings, and associated outcomes. Utilizing constructs of job satisfaction, affective commitment, normative commitment, motivation, and turnover intentions, the research aims to understand quantifiable differences in the employment experience between employees who disclose and do not disclose (non-disclosure) mental health conditions, as well as the mediating roles of human resources management (HRM), supervisors support, and employee authenticity. Through self-reported data detailing employees’ disclosure experiences, the research also aims to understand the disclosure conversation's specific impact …


Project Manager Risk Response Via The Schedule Duration Mechanism In New Product Development, James S. Bryant Jan 2025

Project Manager Risk Response Via The Schedule Duration Mechanism In New Product Development, James S. Bryant

Open Access Dissertations

This experimental study investigated the relationship between project risk level and forecasted project schedule duration. Grounded within a systematic literature review, the research is motivated by the continuing high failure rate for new product development (NPD) projects to meet their time objectives. U.S.-based project managers (PMs) were given a project network diagram, assigned to one of four experimental groups (each group also receiving varying information regarding project risks), and asked to forecast the most likely schedule duration from start to finish. The data suggest that there is no correlation between the level of project risk and the forecasted duration and …


Food Deserts: How To Make Them Green, Minoo Tehrani, Andreas Rathgeber, Lawrence Fulton, Bryan Schmutz Jan 2025

Food Deserts: How To Make Them Green, Minoo Tehrani, Andreas Rathgeber, Lawrence Fulton, Bryan Schmutz

Business Faculty Publications

Despite tremendous progress in addressing food insecurity, hunger and malnutrition are still widespread across the globe. Different factors, such as low levels of income and education, lack of access to food markets and transportation, high unemployment and population rates, and abandoned homes in a neighborhood, are among the factors that have been attributed to the creation of food deserts in emerging and developed countries. Some of the leading causes of death in the U.S. are heart attack, obesity, and diabetes. These major causes of death have a higher rate among the Black, Latin, and Hispanic populations. Access to healthy and …


Confronting Indecision, Lane Allison Murray Jan 2025

Confronting Indecision, Lane Allison Murray

ENGS 15.11: Design and Education

This course aims to increase students' understanding of indecision and how to confront it. The class provides insight into how the fear of the unknown holds people back from making decisions and about understanding one's values as a means to combat indecision. Students and teachers alike explore instances of indecision and evaluate their own impulses & thought processes by reflecting on the deeper reasons for their choices. Students will increase their comfort level of asking themselves and their peers questions about the values that guide them and, in doing so, strengthen their relationships with themselves and others.


Becoming A Leader “On The Job”: An Exploratory Study Examining How Internal Interim Leaders Build Their Leadership Capacity While Nonprofit Executive Directors Are On Sabbatical, Michelle Schneider Jan 2025

Becoming A Leader “On The Job”: An Exploratory Study Examining How Internal Interim Leaders Build Their Leadership Capacity While Nonprofit Executive Directors Are On Sabbatical, Michelle Schneider

Dissertations

Nonprofit organizations have long underinvested in leadership development, potentially hindering their ability to fulfill their missions effectively. This study examined the use of nonprofit organization sabbaticals that give executive directors time away while building the leadership capabilities of the interim leader. This research explored the on-the-job leadership development of six individuals who served as interim leaders in southern California nonprofit organizations during their executive directors' participation in a 3-month, foundation-funded sabbatical program.

In this study, data were collected through in-depth interviews with interim leaders. A formative influences timeline technique was employed to center the participant's voice rather than the interviewer's …


Pay-Performance Sensitivity: How Firm Performance Impacts Ceo Compensation, Yuefeng Ma Jan 2025

Pay-Performance Sensitivity: How Firm Performance Impacts Ceo Compensation, Yuefeng Ma

CMC Senior Theses

This study investigates the relationship between firm performance and CEO compensation, revisiting and extending the foundational framework established by Jensen and Murphy (1990). The sample comprises compensation data for the Chief Executive Officer (CEO) of all publicly traded companies on the Wharton Research Data Services (WRDS) Compustat – ExecuComp dataset from 1994 to 2023. Using Ordinary Least Squares (OLS) regression models, the analysis evaluates the sensitivity of CEO pay to changes in shareholder wealth and other performance metrics, while accounting for structural and temporal shifts driven by corporate governance, macroeconomic environment, and legislation. The findings reveal that changes in shareholder …