Alec Koch, Russell G. Ryan and Laura K. Bennett
To provide analysis on several SEC enforcement actions of interest to broker-dealers and investment advisers.
Abstract
Purpose
To provide analysis on several SEC enforcement actions of interest to broker-dealers and investment advisers.
Design/methodology/approach
The article is organized chronologically based on the dates of the SEC enforcement actions discussed.
Findings
The SEC enforcement actions discussed in the article demonstrate that broker-dealers and investment advisers must maintain and enforce compliance and supervision policies and procedures reasonably designed to detect and prevent violations of the securities laws. When firm personnel commit violations (either intentionally or inadvertently), the SEC will evaluate whether firms could have been more effective in detecting and preventing those violations.Some of these cases also serve to remind firms that the SEC will often take enforcement action even when there is no evidence of customer harm.
Originality/value
Practical guidance from experienced securities lawyers that consolidates and analyzes several recent SEC enforcement actions.
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George J. Moscarino, Laura Tuell Parcher and Michael R. Shumaker
The corporate disclosure decision is one of the most difficult decisions any corporation, its management and counsel will face. If a corporation learns that it or one of its…
Abstract
The corporate disclosure decision is one of the most difficult decisions any corporation, its management and counsel will face. If a corporation learns that it or one of its employees has engaged in a fraud or crime, the corporation, through its officers and directors, must decide whether it should disclose the fraud or crime to the government and, if the decision to disclose is made, what the scope of the disclosure should be. These decisions are fraught with dangers which threaten to expose the corporation and its employees to civil and criminal liability.
Niels van de Ven, Aniek Bogaert, Alec Serlie, Mark J. Brandt and Jaap J.A. Denissen
Job-related social networking websites (e.g. LinkedIn) are often used in the recruitment process because the profiles contain valuable information such as education level and work…
Abstract
Purpose
Job-related social networking websites (e.g. LinkedIn) are often used in the recruitment process because the profiles contain valuable information such as education level and work experience. The purpose of this paper is to investigate whether people can accurately infer a profile owner’s self-rated personality traits based on the profile on a job-related social networking site.
Design/methodology/approach
In two studies, raters inferred personality traits (the Big Five and self-presentation) from LinkedIn profiles (total n=275). The authors related those inferences to self-rated personality by the profile owner to test if the inferences were accurate.
Findings
Using information gained from a LinkedIn profile allowed for better inferences of extraversion and self-presentation of the profile owner (r’s of 0.24-0.29).
Practical implications
When using a LinkedIn profile to estimate trait extraversion or self-presentation, one becomes 1.5 times as likely to actually select the person with higher trait extraversion compared to the person with lower trait extraversion.
Originality/value
Although prior research tested whether profiles of social networking sites (such as Facebook) can be used to accurately infer self-rated personality, this was not yet tested for job-related social networking sites (such as LinkedIn). The results indicate that profiles at job-related social networks, in spite of containing only relatively standardized information, “leak” information about the owner’s personality.
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Susan Chaplinsky, Felicia C. Marston and Michael Pozzi
This case and its companion, UVA-F-1560, were awarded the 2012 Wachovia Award for Excellence in Teaching Materials - Innovative Case. In November 2006, Alec Berg, a successful…
Abstract
This case and its companion, UVA-F-1560, were awarded the 2012 Wachovia Award for Excellence in Teaching Materials - Innovative Case. In November 2006, Alec Berg, a successful hedge fund manager, must decide whether to invest in the initial public offering (IPO) of the Hertz Corporation. The IPO followed a leveraged buyout (LBO) of Hertz that was completed in December 2005 by three prominent private equity firms that had combined to purchase Hertz from the Ford Motor Company for $14.9 billion. The LBO sponsors had borrowed an additional $1 billion on top of the buyout financing to pay themselves a special dividend in June 2006. This loan would be repaid with the IPO proceeds and any remaining proceeds from the IPO would go to the sponsors. The IPO generated widespread criticism with respect to the speed with which the IPO was conducted and the payment of special dividends. In the face of this criticism, the demand for the Hertz IPO weakened, and the offer price was reduced from the initial file price range of $16–$18 to just $15. Berg must assess whether at $15 per share, Hertz offers an attractive investment for this fund. The case provides the necessary information for students to analyze the sponsors' returns on their investment in Hertz and the attractiveness of the $15 offer price to public shareholders. The case also offers an opportunity for students to discuss the controversy surrounding the payment of special dividends and the claim that private equity sponsors invest with a long-term perspective that creates value for the company.
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The purpose of this paper is to examine the antecedents and implications of aligning the organizational values embedded in a systems development approach (e.g. agile) with the…
Abstract
Purpose
The purpose of this paper is to examine the antecedents and implications of aligning the organizational values embedded in a systems development approach (e.g. agile) with the organizational values of project team members.
Design/methodology/approach
A qualitative case study approach is used to examine systems development project teams at three organizations, each using a development approach that incorporates different organizational value dimensions. Interviews were conducted with developers, systems analysts, and managers regarding their systems development experiences. A structured coding of the interview transcripts was then completed to enable analysis of value dimensions.
Findings
By comparing the dominant values between the project teams and their development approach, varying degrees of alignment were identified. Where alignment is high, perceptions of the systems development process are associated with satisfaction and enthusiasm; where alignment is low, perceptions focus on frustration and discontent.
Research limitations/implications
Based on the study's findings, four propositions pertaining to the antecedents and implications of IS values alignment are outlined for examination in future research.
Practical implications
The findings from this study can aid managers who are considering the use of a new systems development approach or evaluating the effectiveness of their current approach. By determining the degree of information systems (IS) values alignment, organizations may be able to customize their development approach to be more consistent with the team's values, in order to minimize negative development process perceptions and increase project performance.
Originality/value
This research extends past studies of organizational values and alignment by introducing the concept of IS values alignment.
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This is a comprehensive list of books, some pamphlets, and a few sound recordings about or by Ronald (and Nancy) Reagan. Collections of photographs and cartoons as well as…
Abstract
This is a comprehensive list of books, some pamphlets, and a few sound recordings about or by Ronald (and Nancy) Reagan. Collections of photographs and cartoons as well as biographies, political commentary, speeches, quotations and even recipes are represented. Omitted are books in which there is only brief mention of him. The bibliography was compiled in connection with a major exhibit on Ronald Reagan at the Colorado State University Library. It is the author's intention to continue to collect Reagan materials.
Dara G. Schniederjans and Mehmet G. Yalcin
The purpose of this paper is to identify ways in which five technology adoption theories converge to enhance insight on 3D-printing perceptions and adoption.
Abstract
Purpose
The purpose of this paper is to identify ways in which five technology adoption theories converge to enhance insight on 3D-printing perceptions and adoption.
Design/methodology/approach
A total of 63 structured interviews were conducted with top management professionals from a variety of manufacturing organizations throughout the USA. After controlling for top management decision power, total of 35 interviews and non-parametric statistical analyses were used in conjunction with innovation adoption theory to derive four propositions.
Findings
Results show five adoption theories converge to create a new adoption model specific to 3D-printing. Results also suggests differences specific to users, potential users and non-users.
Originality/value
Results delineate between current, potential and non-users to better understand adoption. Dissimilar to current qualitative research, quantitative (non-parametric) techniques are used to examine the viability of the propositions. Further, the results use various adoption theories to determine convergences specific to 3D-printing.
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MANY and sundry are the worries which fall to the lot of the librarian, and the matter of book‐repair is not the least among them. The very limited book‐fund at the disposal of…
Abstract
MANY and sundry are the worries which fall to the lot of the librarian, and the matter of book‐repair is not the least among them. The very limited book‐fund at the disposal of most public library authorities makes it imperative on the part of the librarian to keep the books in his charge in circulation as long as possible, and to do this at a comparatively small cost, in spite of poor paper, poor binding, careless repairing, and unqualified assistants. This presents a problem which to some extent can be solved by the establishment of a small bindery or repairing department, under the control of an assistant who understands the technique of bookbinding.