Search results

1 – 10 of 31
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Article
Publication date: 10 November 2014

Ann-Kristin Achleitner, Christian Figge and Eva Lutz

The purpose of this paper is to identify specific drivers of value creation in secondary buyouts. While this type of private equity deal has risen in importance in recent years…

1005

Abstract

Purpose

The purpose of this paper is to identify specific drivers of value creation in secondary buyouts. While this type of private equity deal has risen in importance in recent years, it is not yet well understood. Through an in-depth analysis of the acquisition of Brenntag by BC Partners, we develop propositions on the value creation profile of secondary buyouts.

Design/methodology/approach

We use a single case study design to explore the information-rich context of a secondary buyout. The Brenntag case epitomizes the development of a company from forming part of a large conglomerate to being private-equity owned after the primary and secondary buyout, to its final disposition of public listing. Our analysis is based on ten semi-structured interviews with key protagonists and observers, as well as analysis of primary company data and additional secondary data sources.

Findings

We propose that even if the investment management and monitoring skills of the primary and secondary private equity group are similar, there is still potential to realize operational improvements in a secondary buyout, due to either early exit of the primary private equity group or measures that further enhance management incentives. In addition, the Brenntag case shows that low information asymmetries can lead to higher leverage and that opportunities for multiple expansions are limited in secondary buyouts.

Originality/value

While a secondary buyout has become a common exit route in recent years, we are the first to undertake an in-depth case analysis of a secondary buyout. Our study helps researchers and practitioners enhance their understanding of drivers behind the value creation profile of secondary buyouts.

Details

Qualitative Research in Financial Markets, vol. 6 no. 3
Type: Research Article
ISSN: 1755-4179

Keywords

Access Restricted. View access options
Article
Publication date: 30 September 2010

Christian Herzig and Jasmin Godemann

The paper aims to explore trends in the use of internet‐supported sustainability reporting for German DAX30 companies. Particular focus is to be given to the question of the…

2658

Abstract

Purpose

The paper aims to explore trends in the use of internet‐supported sustainability reporting for German DAX30 companies. Particular focus is to be given to the question of the extent that these companies use the more effective internet‐specific methods of provision, accessibility, comprehensibility and dialogue compared to print‐based reporting systems in the dissemination of information to, and communication with, stakeholders.

Design/methodology/approach

The paper draws on data from three studies in 2004, 2005 and 2007. The research is based on quantitative content analysis from these studies and on an additional e‐mail survey in 2005.

Findings

Analysis shows an overall increase in the use of internet‐specific approaches on sustainability web sites between 2004 and 2007. Particular attention has been paid to developments to improve the access and comprehensibility of information on sustainability. There remains a great deal of potential for improvement in the use of tools for stakeholder dialogue, in the introduction of customised reporting elements and in the use of other internet technologies to improve the dissemination of past and present information. It seems that companies increasingly consider internet features to be useful for reducing information costs for companies and stakeholders but not for enhancing corporate value through more intensive and credible dialogue. The findings also indicate a shortfall in communicating trade‐offs and conflicts between environmental, social and economic impacts of businesses.

Originality/value

The paper is the first to outline trends in the use of corporate sustainability reporting via the internet. The paper also extends previous empirical research in Germany that focused on printed sustainability reports.

Details

Management Research Review, vol. 33 no. 11
Type: Research Article
ISSN: 2040-8269

Keywords

Available. Content available
Article
Publication date: 10 November 2014

Bruce Burton

108

Abstract

Details

Qualitative Research in Financial Markets, vol. 6 no. 3
Type: Research Article
ISSN: 1755-4179

Access Restricted. View access options
Book part
Publication date: 8 July 2021

Rebecca Bednarek, Miguel Pina e Cunha, Jonathan Schad and Wendy Smith

Over the past decades, scholars advanced foundational insights about paradox in organization theory. In this double volume, we seek to expand upon these insights through…

Abstract

Over the past decades, scholars advanced foundational insights about paradox in organization theory. In this double volume, we seek to expand upon these insights through interdisciplinary theorizing. We do so for two reasons. First, we think that now is a moment to build on those foundations toward richer, more complex insights by learning from disciplines outside of organization theory. Second, as our world increasingly faces grand challenges, scholars turn to paradox theory. Yet as the challenges become more complex, authors turn to other disciplines to ensure the requisite complexity of our own theories. To advance these goals, we invited scholars with knowledge in paradox theory to explore how these ideas could be expanded by outside disciplines. This provides a both/and opportunity for paradox theory: both learning from outside disciplines beyond existing boundaries and enriching our insights in organization scholarship. The result is an impressive collection of papers about paradox theory that draws from four outside realms – the realm of belief, the realm of physical systems, the realm of social structures, and the realm of expression. In this introduction, we expand on why paradox theory is ripe for interdisciplinary theorizing, explore the benefits of doing so, and introduce the papers in this double volume.

Details

Interdisciplinary Dialogues on Organizational Paradox: Learning from Belief and Science, Part A
Type: Book
ISBN: 978-1-80117-184-7

Keywords

Available. Content available
Article
Publication date: 30 September 2010

Diane Holt, Ralf Barkemeyer and Frank Figge

606

Abstract

Details

Management Research Review, vol. 33 no. 11
Type: Research Article
ISSN: 2040-8269

Access Restricted. View access options
Book part
Publication date: 10 December 2013

Nathalie Crutzen and Christian Herzig

This chapter reviews empirical studies into the relationship between management control, strategy and sustainability.

Abstract

Purpose

This chapter reviews empirical studies into the relationship between management control, strategy and sustainability.

Approach

The review explores the theoretical frameworks and models used in previous empirical research as well as the research questions and methods applied to empirically explore this emerging research area.

Findings

Even if a growing body of empirical research has emerged over the last decade, our knowledge of how companies design or use management control to support sustainability strategy appears to be limited, providing considerable scope for further research.

Originality of the chapter

This review structures the state of our empirical knowledge in the area of management control, strategy and sustainability and makes suggestions for future research paths.

Details

Accounting and Control for Sustainability
Type: Book
ISBN: 978-1-78052-766-6

Keywords

Access Restricted. View access options
Book part
Publication date: 12 December 2023

Kwame Oduro Amoako, Isaac Oduro Amoako, James Tuffour, Gilbert Zana Naab and Kofi Owiredu-Ghorman

Drawing on both the stakeholder theory and Carroll’s Corporate Social Responsibility Pyramid, this chapter explores sustainability practice challenges of a gold minning…

Abstract

Drawing on both the stakeholder theory and Carroll’s Corporate Social Responsibility Pyramid, this chapter explores sustainability practice challenges of a gold minning multinational enterprise in Ghana. Primary data was collected through observation and the interviewing of multi-stakeholder groups. We found that internal stakeholders perceive sustainability expenditure as costly. However, while employees of the case enterprise see the cost as depleting shareholders’ wealth, managers view them as investment with possible long-term benefits. Meanwhile, the external stakeholders perceive the gold mining enterprise’s sustainability expenditure as meagre and that beneficiary communities are not economically empowered to sustain those investments. Again, we found that government’s inability to clamp down illegal gold mining threatens economic and environmental sustainability. Additionally, members of the host community identify the lack of adequate employment opportunities within the entity as a hindrance to their economic empowerment. We submit that the resolution of the sustainability challenges would contribute to the balancing of stakeholders’ expectations: the conduct of ethical business through compliance to environmental laws; promotion of host communities’ social well-being; and improved economic returns for shareholders. By meeting the needs of stakeholders, gold mining enterprises could gain acceptance in their host communities and boost corporate reputation.

Details

Contextualising African Studies: Challenges and the Way Forward
Type: Book
ISBN: 978-1-80455-339-8

Keywords

Available. Open Access. Open Access
Article
Publication date: 5 April 2024

Kai Rüdele, Matthias Wolf and Christian Ramsauer

Improving productivity and efficiency has always been crucial for industrial companies to remain competitive. In recent years, the topic of environmental impact has become…

937

Abstract

Purpose

Improving productivity and efficiency has always been crucial for industrial companies to remain competitive. In recent years, the topic of environmental impact has become increasingly important. Published research indicates that environmental and economic goals can enforce or rival each other. However, few papers have been published that address the interaction and integration of these two goals.

Design/methodology/approach

In this paper, we identify both, synergies and trade-offs based on a systematic review incorporating 66 publications issued between 1992 and 2021. We analyze, quantify and cluster examples of conjunctions of ecological and economic measures and thereby develop a framework for the combined improvement of performance and environmental compatibility.

Findings

Our findings indicate an increased significance of a combined consideration of these two dimensions of sustainability. We found that cases where enforcing synergies between economic and ecological effects were identified are by far more frequent than reports on trade-offs. For the individual categories, cost savings are uniformly considered as the most important economic aspect while, energy savings appear to be marginally more relevant than waste reduction in terms of environmental aspects.

Originality/value

No previous literature review provides a comparable graphical treatment of synergies and trade-offs between cost savings and ecological effects. For the first time, identified measures were classified in a 3 × 3 table considering type and principle.

Details

Management of Environmental Quality: An International Journal, vol. 35 no. 6
Type: Research Article
ISSN: 1477-7835

Keywords

Available. Content available
Book part
Publication date: 3 August 2020

Abstract

Details

Leadership Strategies for Promoting Social Responsibility in Higher Education
Type: Book
ISBN: 978-1-83909-427-9

Access Restricted. View access options
Article
Publication date: 20 April 2023

Joana Kuntz, Jennifer Hoi Ki Wong and Susan Budge

Ambidexterity increases an organisation’s capability to successfully navigate dynamic and uncertain environments. While leaders are expected to model flexible learning and…

453

Abstract

Purpose

Ambidexterity increases an organisation’s capability to successfully navigate dynamic and uncertain environments. While leaders are expected to model flexible learning and practices throughout the organisation, little is known about the leader characteristics and contextual factors that underpin ambidexterity. This study aims to explore whether paradoxical thinking, integrator behaviours and managerial role and level influence the likelihood of leaders exhibiting ambidexterity.

Design/methodology/approach

This study relied on a self-report questionnaire completed by 152 managers of a large, public health-care organisation in New Zealand. A k-means cluster analysis of the data was conducted to identify leader ambidexterity clusters, and the hypothesised effects were tested with multinomial logistic regressions.

Findings

Health-care managers favoured exploitation and moderate ambidexterity. Higher levels of integrator behaviours (i.e. reflective learning and context responsiveness) were found among leaders who showed high ambidexterity. Context responsiveness was the sole significant predictor distinguishing between high ambidexterity and other ambidexterity profiles. No statistically significant differences in ambidexterity cluster membership were found between clinical and non-clinical roles and across managerial levels.

Research limitations/implications

While our study relied on a cross-sectional self-reported design, the findings underscore the importance of learning behaviours and context responsiveness to ambidexterity. This study discusses avenues for future research and leadership development towards improved organisational learning systems and practices.

Originality/value

To the best of the authors’ knowledge, this study is one of the first to test the contribution of paradoxical thinking and integrator behaviours to health-care leader ambidexterity and to examine differences in ambidexterity profiles across managerial levels and roles. The factor analysis suggests that integrator behaviours represent two distinct constructs: reflective le`arning and context responsiveness.

Details

The Learning Organization, vol. 30 no. 3
Type: Research Article
ISSN: 0969-6474

Keywords

1 – 10 of 31
Per page
102050