John Capstaff and Andrew Marshall
Several papers have investigated the use of foreign exchange (FX) derivatives but evidence on the use of international cash management meth ods to hedge FX is scarce. This paper…
Abstract
Several papers have investigated the use of foreign exchange (FX) derivatives but evidence on the use of international cash management meth ods to hedge FX is scarce. This paper contributes to the existing evidence by considering the use of international cash management systems to hedge foreign exchange (FX) risks using a sample of French and UK companies. We find that matching, netting and pricing policies are the most commonly used techniques in both the UK and French samples al though there is evidence of greater use of all cash management techniques in the UK. We also consider whether the theoretical explanations of hedging determine the use of cash management techniques for FX hedging, and if there are differences between the UK and French samples. We find support for the theoretical prediction that FX hedgers have higher levels of financial distress, and that these firms tend to be larger, more international and less liquid. We find little support for the under investment theory. The extent of internationalisation appears to play no role in the decision of French firms to use cash management techniques to manage FX risk, and the use of all cash management techniques were lower than in UK firms. These latter findings may be explained by the reduction in FX risk facing French firms following the introduction of the euro.
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Taciana Mareth, Antonio Marcio Tavares Thomé, Fernando Luiz Cyrino Oliveira and Luiz Felipe Scavarda
The purpose of this paper is to complement and extend previous literature reviews on Technical Efficiency (TE) in dairy farms, analysing the effects of different methodologies and…
Abstract
Purpose
The purpose of this paper is to complement and extend previous literature reviews on Technical Efficiency (TE) in dairy farms, analysing the effects of different methodologies and study-specific characteristics on Mean TE (MTE).
Design/methodology/approach
The researchers independently conducted a systematic review of more than 400 abstracts and 85 full-text papers. Original keywords were applied to seven key electronic databases. Results from a meta-regression analysis of 85 published papers totalling 443 TE distributions in dairy farms worldwide are discussed.
Findings
The variation in the MTE indexes reported in the literature can be explained by the methodology of estimations (method of estimation, functional form of frontier models, model dimensionality), the farms geographical location and farm size. Additionally, the results suggest that, given the state of technology prevailing in each country at the time that the studies on TE were conducted, dairy farmers in the sample could increase milk output by 20.9 per cent (level of inefficiency), on average, if they produce on their frontiers.
Originality/value
This study makes two important contributions: first, it updates and compares previous works on frontier estimation of TE in dairy farms; and second, it adds two dimensions of dairy farms, size (herd and land area) and economic development, to the known differentials of TE measurement.
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Until fairly recently, the pharmacy profession has remained reasonably immune from the attention of the computer industry sales teams. The reasons for this reprieve are mainly…
Abstract
Until fairly recently, the pharmacy profession has remained reasonably immune from the attention of the computer industry sales teams. The reasons for this reprieve are mainly those of size and costs. Most Pharmacies are small independent units whose individual turnover and operations do not justify full — or even partial — scale computing facilities. Similarly, the size and cost of computer systems available in the market place did not offer a cost effective or necessarily a cost efficient alternative to existing accounting procedures and routines.
Examines the ninth published year of the ITCRR. Runs the whole gamut of textile innovation, research and testing, some of which investigates hitherto untouched aspects. Subjects…
Abstract
Examines the ninth published year of the ITCRR. Runs the whole gamut of textile innovation, research and testing, some of which investigates hitherto untouched aspects. Subjects discussed include cotton fabric processing, asbestos substitutes, textile adjuncts to cardiovascular surgery, wet textile processes, hand evaluation, nanotechnology, thermoplastic composites, robotic ironing, protective clothing (agricultural and industrial), ecological aspects of fibre properties – to name but a few! There would appear to be no limit to the future potential for textile applications.
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Taciana Mareth, Antônio Márcio Tavares Thomé, Luiz Felipe Scavarda and Fernando Luiz Cyrino Oliveira
This systematic literature review integrates the findings of existing studies regarding technical efficiency (TE) in dairy farms. The purpose of this paper is to offer a research…
Abstract
Purpose
This systematic literature review integrates the findings of existing studies regarding technical efficiency (TE) in dairy farms. The purpose of this paper is to offer a research framework that assembles TE descriptors, a classification of previous literature that provides the basis for the synthesis and research agenda.
Design/methodology/approach
This paper systematically reviews 86 survey research studies using rigorous and reproducible procedures. The review is applied to published survey research.
Findings
The framework relates context, inputs, outputs and metrics of TE. There is no agreement among the authors on the context and determinants of TE. The main determinants of TE are geographical location, farm size, investments in veterinary care, feeding and milking practice, TE model estimation techniques, public policy, and management-related variables. This paper offers ten propositions for future research on the controversial results on the determinants of TE. The authors also explore the reasons for the discrepant results based on the Debreu-Farrell’s definition of TE, the contingency theory and the resource-based view of the firm, elucidating the literature and serving as a basis for future investigation. Implications for dairy farmers and researchers close the review.
Originality/value
Meta-analysis and meta-regression studies were long at the forefront of reviews in the TE of dairy farms. This paper offers a novel qualitative research synthesis with frameworks and the classification of previous literature and a research agenda, which provides a new and different perspective for analysis, by innovating over the available quantitative procedures to combine statistical results.
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Jennifer Huh, Hye-Young Kim and Garim Lee
This study examines how the locus of agency of brands' artificial intelligence (AI)–powered voice assistants (VAs) could lead to brand loyalty through perceived control, flow and…
Abstract
Purpose
This study examines how the locus of agency of brands' artificial intelligence (AI)–powered voice assistants (VAs) could lead to brand loyalty through perceived control, flow and consumer happiness under the moderating influences of brand image and voice congruity.
Design/methodology/approach
This study conducted a 2 (locus of agency: high vs. low) by 2 (brand image-voice congruity: congruent vs. incongruent) between-subjects experimental design. MANOVA, ANOVA and structural equation modeling (SEM) were conducted to test the hypothesized model.
Findings
ANOVA results revealed that human-centric (vs. machine-centric) agency led to higher perceived control. The interaction effect was significant, indicating the importance of congruency between brand image and VAs' voices. SEM results confirmed that perceived control predicted brand loyalty fully mediated by flow experience and consumer happiness.
Originality/value
This study provides evidence that the positive technology paradigm could carve out a new path in existing literature on AI-powered devices by showing the potential of a smart device as a tool for improving consumer–brand relationships and enriching consumers' well-being.
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Michelle Carnegie and Lila Singh-Peterson
This chapter situates the South Pacific region’s engagement in progressing gender equality and women’s empowerment within broader gender and development (GAD) debates. It explores…
Abstract
This chapter situates the South Pacific region’s engagement in progressing gender equality and women’s empowerment within broader gender and development (GAD) debates. It explores the international ‘gender agenda’ and how its associated frameworks, platforms, policies and metrics have diffused throughout the South Pacific. Limited progress in achieving gender equality and empowerment goals has been made, globally and regionally, with considerable challenges yet to be overcome. Complementing the book’s focus on the integration of gender into agricultural research and development projects, the chapter reviews rural women’s access to income and land in the South Pacific, and their contributions to agricultural production and marketing.
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Moosung Lee, Jenny Dean and Yeonjeong Kim
Using data from the Children of Immigrants Longitudinal Study, this study examines the structural relationships between negative school social relationships, school safety…
Abstract
Using data from the Children of Immigrants Longitudinal Study, this study examines the structural relationships between negative school social relationships, school safety, educational expectation, and academic achievement of Latino immigrant students. Results from multilevel structural equation modeling show that discrimination, unhelpful school social relationships, and experiences of unsafe school environments influence Latino immigrant adolescents’ academic achievement indirectly and directly through their educational expectations. Specifically, this study explores how noncognitive and contextual factors embedded in different structural layers of school organization influence Latino immigrant adolescents’ academic achievement. It draws attention to the impact of negative school factors such as discriminatory and unsupportive school social relationships, and negative and unsafe school structures that undermine school life. Based on our findings, we argue that as Latino immigrant students internalize negative experiences from their school experiences during the critical period of adolescence, such accumulated negative internalization may reinforce negative self-perceptions and inaccurate stereotypes. Not only discrimination but also other negative school features such as the absence of academic supporters, nonacademically oriented friends, and unsafe learning environments inhibit them from navigating positive school opportunities and ultimately, successful school achievement. Implications for the social organization of U.S. public secondary schools with a focus on Latino immigrant adolescents’ academic achievement are discussed.
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For many communities of the South Pacific, traditional customary hierarchies favour men over other genders. In rural settings, where the majority of women have little agency or…
Abstract
For many communities of the South Pacific, traditional customary hierarchies favour men over other genders. In rural settings, where the majority of women have little agency or voice, and where land and resources are controlled by community leaders; there can be significant barriers for development initiatives to meaningfully progress gender objectives. For this reason, the intersections between gender and other factors that determine social position are important to consider in the South Pacific context if gender equality or equity is to be sustainably progressed. In this final book chapter, I refer to the applied learnings of the book’s six case studies and synthesis chapter to reflect upon the current theoretical framings of gender mainstreaming, women’s empowerment and intersectionality. I argue that in situations where funding is limited, or gender equality is one of the funding objectives often in combination with food security and poverty alleviation objectives, gender integration as a component of a gender mainstreaming process can lead to a transformation in gender norms and stereotypes. Given strong leadership and sustained funding and commitment, transformative projects that move towards alleviating gendered power structures are achievable in the South Pacific.
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Isabelle Guérin, Sébastien Michiels, Christophe Jalil Nordman, Elena Reboul and G. Venkatasubramanian
In 2003, the then Chief Minister of Tamil Nadu in southern India, Jayaram Jayalalithaa, gave a speech about the “silent revolution” of the empowerment of Indian women. But 15…
Abstract
In 2003, the then Chief Minister of Tamil Nadu in southern India, Jayaram Jayalalithaa, gave a speech about the “silent revolution” of the empowerment of Indian women. But 15 years on, regrettably, the promises of that revolution do not seem to have been fulfilled. Thanks to the various programs set up to champion women’s empowerment (involving local NGOs, public programs, and international support), women are now more prominent in certain public spaces and are able to play a genuine advocacy role with regard to the public authorities. Girls education has also significantly improved. But it has not brought about improved employment opportunities. Women are in fact losing out on paid employment (as is the case in India as a whole). They are also heavily indebted (not only from microcredit, but also informal lending and lending from private financial companies). Their indebtedness is disproportionate to their income, and compared to men. Moreover, women almost exclusively put debt toward the social reproduction of families. Reduced opportunities for paid employment and massive debt have hit Dalit women particularly hard. The analyses of this chapter use data collected over more than a decade in a rural area of Tamil Nadu, drawing together ethnography and quantitative data, including panel data (2010–2016). They shed light on the complexity of social change, intertwining forms of domination (here, caste, and gender), and the ambiguous qualities of so-called empowerment programs, whose impacts have been various and unexpected.