Linda M. Cushman and Carl L. Dyer
The merger and acquisition activities of the past two decades have brought about dramatic structural and strategic changes in the retail industry. Retail experts envision this…
Abstract
The merger and acquisition activities of the past two decades have brought about dramatic structural and strategic changes in the retail industry. Retail experts envision this consolidation as a necessary survival tactic for retail formats, especially the department store format, adding that the surviving chains will be bigger and better. Intuitively, such a progression is logical, but is bigger necessarily better? A sample of 89 apparel retailers who had acquired another firm between 1973 and 1992 was examined to determine if, as experts suggest, retail firms do indeed perform better after acquisition. The average pre‐acquisition ROE, ROS and ROA was compared to the average post‐acquisition returns with a sign rank test to determine the number of firms exhibiting +/− change and tested to determine if the trends exhibited were significant. Results indicate that 51 apparel retailers in the sample did indeed experience greater ROS post‐acquisition and 53 experienced greater ROA. However, 55 of the 89 firms experienced lower ROE after an acquisition. Strategies for determining appropriate means for retail growth are briefly discussed.
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Olof Brunninge and Anders Melander
In this chapter, we explore the impact of socioemotional and financial wealth on the resource management of family firms. We use MoDo, a Swedish pulp and paper firm, covering…
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In this chapter, we explore the impact of socioemotional and financial wealth on the resource management of family firms. We use MoDo, a Swedish pulp and paper firm, covering three generations of owner-managers from 1873 to 1991, to grasp the shifting emphases on socioemotional and financial wealth in the management of the company. Identifying four strategic issues of decisive importance for the development of MoDo, we analyze the organizational values that guided the management of these issues. We propose that financial and socioemotional wealth stand for two different rationalities that infuse organizational values. The MoDo case illustrates how these rationalities go hand in hand for extended periods of time, safeguarding both financial success and socioemotional endowments. However, in a situation where the rationalities are no longer in line with the development of the industry context, the conflict arising between the two rationalities may have fatal consequences for the firm in question.
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Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some…
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Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.
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“GIVE a dog a bad name and hang him,” is an aphorism which has been accepted for many years. But, like many other household words, it is not always true. Even if it were, the dog…
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“GIVE a dog a bad name and hang him,” is an aphorism which has been accepted for many years. But, like many other household words, it is not always true. Even if it were, the dog to be operated upon would probably prefer a gala day at his Tyburn Tree to being executed in an obscure back yard.
Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are…
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Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.
The following bibliography focuses mainly on programs which can run on IBM microcomputers and compatibles under the operating system PC DOS/MS DOS, and which can be used in online…
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The following bibliography focuses mainly on programs which can run on IBM microcomputers and compatibles under the operating system PC DOS/MS DOS, and which can be used in online information and documentation work. They fall into the following categories:
In her popular Development of Economic Analysis, Ingrid Rima writes early on of the “compatibility” of “emphasis on the state as an instrument to achieve socially optimal…
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In her popular Development of Economic Analysis, Ingrid Rima writes early on of the “compatibility” of “emphasis on the state as an instrument to achieve socially optimal results…with what has come to be called social economics”. Subsequently (1978, p. 322; 1986, p. 396), she treats of J.M. Clark's “crucial” contribution to the development (1920s/1930s) of a new type of economics he describes as “social”. Similarly, George F. Rohrlich, in his 1970 introductory essay, “The Challenge of Social Economics”, wrote of “The emerging field of social economics”, and noted that “in the United States the term was used in the 1930s and occasionally thereafter”. More recently (1982), Samuel Cameron singles out Mark A. Lutz's 1980 USE contribution, e.g., for neglecting Charles Devas(op. cit., 1876–1907) “as a contributor to the founding of social economics”, while comparing Devas to “the modern social economist”.
Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).
AT Oxford, on October 8th and 9th, was celebrated the tercentenary of the founding of the Bodleian Library by Sir Thomas Bodley, an Exeter man, who early realised the value of…
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AT Oxford, on October 8th and 9th, was celebrated the tercentenary of the founding of the Bodleian Library by Sir Thomas Bodley, an Exeter man, who early realised the value of books in the work of education. The occasion was made one of great importance, and there were gathered together distinguished representatives of literature and librarianship from all parts of the world. The list of delegates given below will show how extensive this representation was, although it will occur to some, as a somewhat remarkable circumstance, that not a single municipal library in London was represented, while many of the more important English towns were also ignored. Considering that such libraries are doing so much in the cause of popular education, compared to which the work of many of the colleges and institutions represented is microscopical, it does strike the outsider that the gathering would have been much more impressive and representative had there been more “Town” and less “Gown” in the celebration. The following is a full list of all but the Oxford representatives, who included practically every head of a college, professor, or college librarian, together with various local celebrities:—