David Cooperman and Paul Plummer
It is quite possible to use the cluster of conventional service terms without further specification, (service jobs, service sectors, service economy), as long as no rigorous…
Abstract
It is quite possible to use the cluster of conventional service terms without further specification, (service jobs, service sectors, service economy), as long as no rigorous empirical theories are intended and as long as data aggregated under that category is likewise not mobilised on behalf of explanation claims. Hence, data published by any number of sources classifies economic activity with reference to agriculture, manufacturing and services, in which services is a residual category. However, the researcher using such data comparatively is at risk since the residuals included in “services” are apt to be the least standardised of all the grossly aggregated data. Where “services” is used as an empty nominal term to stand for other itemised subcategories of service, the term is redundant. Hence, in a recent semi‐popular article, after noting that the term may indeed be so broad as to signify “anything sold in trade that could not be dropped on your foot”, a specification of sub‐categories is given which includes financial services, communication and transportation services, and distribution and retail networks, “among others”, which latter then becomes a rather sizable, unspecified residual itself. (Quinn, Baruch, Paquette 1987).
This paper profiles the leadership and Financial Strategy principles of Dr. Henry E. Singleton, the late founder of Teledyne Corporation.
Abstract
Purpose
This paper profiles the leadership and Financial Strategy principles of Dr. Henry E. Singleton, the late founder of Teledyne Corporation.
Design/methodology/approach
The main sources of this paper are a private study prepared by Leon G. Cooperman, Chairman and CEO of Omega Advisors, Inc., who knew Dr. Singleton and who was a long‐term Teledyne investor, as well as a 2007 book that was published by Teledyne's former president.
Findings
The leadership and financial strategy principles of Henry Singleton have broad applicability to executives across industries and to researchers across disciplines including strategy, finance, management, and entrepreneurship.
Research limitations/implications
Singleton's principles, especially in the area of Financial Strategy, could be used by executives in the challenging times that likely lay ahead, and could serve as the basis for applied‐based research, most particularly case studies, on entrepreneurship, growth by acquisition, capital allocation, stock buybacks, and spin‐offs.
Originality/value
Long‐time associates of Singleton believe this is the first academic analysis of his leadership and financial strategy principles.
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Moving beyond cost to quality issues, some companies are playing the “choice” card.
Majed R. Muhtaseb and Chun Chun “Sylvia” Yang
The purpose of this paper is two fold: educate investors about hedge fund managers' activities prior to the fraud recognition by the authorities and to help investors and other…
Abstract
Purpose
The purpose of this paper is two fold: educate investors about hedge fund managers' activities prior to the fraud recognition by the authorities and to help investors and other stakeholders in the hedge fund industry identify red flags before fraud is actually committed.
Design/methodology/approach
The paper investigates fraud committed by the Bayou Funds, Beacon Hill Asset Management, Lancer Management Group (LMG), Lipper & Company and Maricopa investment fund. The fraud activities took place during 2000 and 2005.
Findings
The five cases alone cost the hedge fund investors more than $1.5 billion. Investors may have had a good opportunity for avoiding the irrecoverable costs of the fraud had they carefully vetted the backgrounds of the hedge fund managers and/or continuously monitored the funds activities, especially during turbulent market environments.
Originality/value
This is the first research paper to identify and extensively investigate fraud committed by hedge funds. In spite of the size of the hedge fund industry and relatively substantial level and inevitably recurring fraud, academic journals are to yet address this issue. The paper is of great value to hedge funds and their individual and institutional investors, asset managers, financial advisers and regulators.
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Diosdado M. San Antonio and David T. Gamage
The paper aims to examine the effect of implementing participatory school administration, leadership and management (PSALM) on the levels of empowerment among the educational…
Abstract
Purpose
The paper aims to examine the effect of implementing participatory school administration, leadership and management (PSALM) on the levels of empowerment among the educational stakeholders.
Design/methodology/approach
A mixed method approach, combining the experimental design with empirical surveys, interviews and documentary analysis, was used. Survey respondents (735 for the first survey and 603 for the second survey) were school heads, teachers, students, alumni, parents and community leaders coming from 76 public secondary schools in one provincial school division in the Philippines.
Findings
Stakeholders who implemented PSALM reported higher levels of empowerment compared with the control group; school heads and teachers felt more empowered than the other stakeholders after one year of PSALM implementation; there was a trend for the younger and 51 years + participants to feel less empowered after implementing PSALM. The stakeholders faced challenges in implementing PSALM but they overcame them by opening communication channels and manifesting supportive behaviours.
Research limitations/implications
Only people who indicated willingness to implement PSALM were involved, so there was no way to determine how stakeholders who are hesitant to practice the experimental intervention would react.
Practical implications
It is suggested that the Philippine public schools should expedite the implementation of PSALM via school councils as a way to improve the school system.
Originality/value
The paper presents evidence, drawn from a management experiment, that establishes the link between PSALM and empowerment levels of stakeholders.
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Suzette Viviers and Lee-Ann Steenkamp
Given the urgency to address the climate change crisis, the purpose of this study was to investigate the impact of 12 macro-level antecedents on energy and environmental (E&E…
Abstract
Purpose
Given the urgency to address the climate change crisis, the purpose of this study was to investigate the impact of 12 macro-level antecedents on energy and environmental (E&E) shareholder activism in 12 developed countries. Focus was placed on shareholder-initiated E&E resolutions.
Design/methodology/approach
Panel regressions were used to evaluate the relationships between the macro-level antecedents and two dependent variables, namely, the number of shareholder-initiated E&E resolutions filed and voting support for these resolutions.
Findings
The number of shareholder-initiated E&E resolutions filed increased slightly over the research period (2010–2019) but received very little voting support on average. Most of the 1,116 considered resolutions centred on the adoption or amendment of nuclear and environmental policies. Several resolutions called for improved E&E reporting. A significant relationship was found between the number of shareholder-initiated E&E resolutions filed and the rule of law.
Research limitations/implications
The empirical evidence confirmed limited voting support for shareholder-initiated E&E resolutions and the importance of the rule of law in advancing the E&E social movement.
Practical implications
As the E&E social movement is gaining momentum, listed companies in the considered countries are likely to experience more pressure from shareholder activists.
Social implications
To achieve participatory and inclusive climate governance, shareholder activists should collaborate more closely with other challengers in the E&E social movement, notably policy makers and those promoting the rule of law.
Originality/value
The authors considered macro-level antecedents of E&E shareholder activism that have received scant attention in earlier studies. Social movement theory was used as a novel theoretical lens.
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The purpose of this contribution is to focus on an essential issue in all workplace settings where the emphasis is on productivity, time management and creativity: getting…
Abstract
Purpose
The purpose of this contribution is to focus on an essential issue in all workplace settings where the emphasis is on productivity, time management and creativity: getting innovative, high quality work completed on time according to tight schedules – often facing serious staff shortages. The intention is not to offer an ultimate answer, but to take a different look at the issues that might bring some answers, or that might inspire research projects in the “own” circles of libraries and information services. What does it take to get quality work completed on time?
Design/methodology/approach
The contribution is written against the background of research from time management, productivity, learning styles, information behaviour and collaborative work.
Findings
There might be simplistic solutions on offer to get work done on time such as the use of productivity and time management tools. When the aim is high quality, creativity and innovative work (done on time), there might be a need to consider more issues such as learning styles and whole brain learning; information seeking skills, writing skills and streamlining cognitive skills; a focus on productivity; brain health and maintaining a balanced life style; perceptions of stimulating creativity; recognition of the need to complement human weaknesses with collaborative strengths; and the need for flow as argued by Csikszentmihalyi.
Originality/value
Although many publications have appeared on time management, productivity, software to support time management and other individual issues noted in this paper, the authors are not aware of work (at least not in the field of library and information science) that combine these with the need to consider learning styles, whole brain learning, acknowledging the limitations of mind and body, and addiction to adrenaline that might stimulate inspiration and creativity – among many things that might impact on time management.
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The pace of new regulation has been quite rapid in the United States during the past fifteen years. Consider the number of major pieces of legislation that have been passed during…
Abstract
The pace of new regulation has been quite rapid in the United States during the past fifteen years. Consider the number of major pieces of legislation that have been passed during this time span and you immediately gain insight into this fast‐paced regulatory climate. It has been argued by some that oversight during the 1980s was lax and that regulations were much less enforced than in previous decades. This may be true in certain areas such as antitrust enforcement, but there can be no doubt that the total body of regulation has been expanding continuously.
An appreciation of the legal environment becomes more important with each passing year for anyone involved in corporate finance. A casual glance at the morning newspaper will…
Abstract
An appreciation of the legal environment becomes more important with each passing year for anyone involved in corporate finance. A casual glance at the morning newspaper will usually provide a quick reminder of just how much the two areas are interrelated. The current debate in the United States concerning health care legislation may well result in a package that has a tremendous impact on many companies and industries. Tax issues have been in the news recently as well. There have been a number of significant changes in tax regulations during the past decade, including the legislation just passed by the U. S. Congress in 1993. Smoking continues to generate considerable controversy, and one result has been courtroom battles between tobacco companies and local governments over antismoking ordinances. During the last year, the DuPont Corporation has been defending itself in court over charges that one of its products caused substantial damage to farm crops. Guilty or not, the risk and expense from product liability is an enormous problem confronting almost all companies today. Texaco settled a lawsuit with Pennzoil in 1988 for $3 billion in damages stemming from a battle for the control of Getty Oil. Texaco won that battle, but suffered a very serious setback in the courtroom.
Do you use Electronic mail (E‐mail)? Do you know if anyone other than the intended recipient is reading the mail you send? And, what would you do if it fell into the wrong hands…
Abstract
Do you use Electronic mail (E‐mail)? Do you know if anyone other than the intended recipient is reading the mail you send? And, what would you do if it fell into the wrong hands? Employees around the world use E‐mail more than a million times a day (Elmer‐Dewitt, 1993). E‐mail is used for a multitude of purposes including telling jokes, discussing confidential matters, or even spreading gossip that could be potentially offensive if overheard by the wrong person. E‐mail is more convenient for most to use rather than having to pick up the phone or wander down a hall to tell someone something. A common misconception many have concerning the use of E‐mail is that it is as private as mail or a phone call (Elmer‐Dewitt, 1993).