The purpose of this study is to provide empirical evidence on a possible economic explanation for changes in borrowing costs of US private firms that are going public.
Abstract
Purpose
The purpose of this study is to provide empirical evidence on a possible economic explanation for changes in borrowing costs of US private firms that are going public.
Design/methodology/approach
Using an OLS regression with firm fixed effects and the IPO as an information releasing event that alters information asymmetries between borrowers and lenders and relying on several proxies for pre-IPO information asymmetries, I analyze the impact of the IPO on changes in borrowing costs from before to right after an IPO of firms with high pre-IPO information asymmetries.
Findings
My findings indicate that small firms, firms with high R&D, firms with negative EBITDA and firms with a single lending relationship benefit more from going public by realizing larger decreases in borrowing costs after an IPO than firms with lower pre-IPO information asymmetries. The results are consistent with changing information asymmetries caused by the IPO event playing a role in changes in borrowing costs after the IPO. Furthermore, I provide empirical evidence that a reduction in the lender’s bargaining power due to the IPO event plays an important role in explaining changes in borrowing costs around that time.
Originality/value
This study uses a hand-collected data set of loans obtained from financial statements issued by US firms at the time of their IPO. As a result, I am able to comprehensively document changes of borrowing costs of US private firms going public and shed light on one of the economic forces behind those changes.
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Mohammad Suleiman Awwad and Bashar Awad Neimat
This study aims at identifying the most critical factors affecting the customer switching behavior for mobile service providers in Jordan. A number of 580 questionnaires…
Abstract
This study aims at identifying the most critical factors affecting the customer switching behavior for mobile service providers in Jordan. A number of 580 questionnaires distributed to a random sample of Jordanian mobile users. The questionnaire contains 33 items measured on a five‐point likert scale. The data were analyzed using regression analysis. It was found that all the independent variables (pricing, inconvenience, core service failures, service encounter failures, employee responsiveness to service failures, attraction by competitors, changes in technology, switching cost) had a significant effect on switching behavior of mobile service users except change in technology and employee responsiveness to service failure. Recommendations and directions for future research are proposed.
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Laith A. Hadidi, Abdulaziz Bubshait and Suleiman Khreishi
This paper aims to develop a quality plan to detect aesthetic defects in extruded aluminum profiles before the fabrication stage based on the Six Sigma improvement methodology in…
Abstract
Purpose
This paper aims to develop a quality plan to detect aesthetic defects in extruded aluminum profiles before the fabrication stage based on the Six Sigma improvement methodology in an aluminum facility. These defects are hard to be detected at the fabrication stage. It is also hard to be fixed in the site.
Design/methodology/approach
The research methodology utilized the DMAIC framework (define, measure, analyze, improve and control). The methodology relies on statistical analysis (histogram, control charts and Pareto) and field work (observations, focus groups and interviews).
Findings
The process shows significant improvement in aesthetic defect reduction that aids in reaching a Four Sigma quality level.
Practical implications
Aluminum fabrication is known to be vulnerable for many types of defects such as scratches and debris on work surface. In addition, post-fabrication defects may also occur due to improper coating caused by chemical imbalance, blocked filters or blocked sprays.
Originality/value
The main contribution of this research is to demonstrate the use of DMAIC framework to reduce the aluminum aesthetic defects that reach the end customer. The Six Sigma methodology is a well-known quality improvement framework that relies heavily on quantitative data. More precisely, it is widely used to control defects in quantities such as weights, heights, etc. In this research, it has been used to control qualitative data (aesthetic). This will enable objective decisions for facility management rather than subjective.
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This paper explores content and media evaluation applications for public relations research, and identifies the difference between advertising measures of value and public…
Abstract
This paper explores content and media evaluation applications for public relations research, and identifies the difference between advertising measures of value and public relations value. In discussing this concept, it also seeks to offer research which shows that press as well as the broader activities of public relations have a powerful ally in semiotics and reception analysis, one that can aid understanding of work in all aspects of PR practice. It argues that public relations is effective when it works in the cultural context and that measurement, research and evaluation have to feed from robust methodologies to be at their most effective.
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Tif Said Suhail Al Mazroui, Mohammed Muneerali Thottoli, Maathir Mohammed Saud Al Alawi, Noor Talal Hamed Al Shukaili and Duaa Suleiman Amur Al Hoqani
This study aims to compare recent topics on value-added tax (VAT) in the European Union (EU) and Gulf Cooperation Council (GCC), understand the differences in VAT discourses…
Abstract
Purpose
This study aims to compare recent topics on value-added tax (VAT) in the European Union (EU) and Gulf Cooperation Council (GCC), understand the differences in VAT discourses between the two regions and explore the connection between research agendas, institutional legacies and semantic output in the field of VAT in each territory.
Design/methodology/approach
A bibliometric study was conducted using R programming. The data were gathered from the Scopus database, which contains 99 English-language publications with publication dates ranging from 1996 to 2022 (87 of which are from the EU and 12 from the GCC). Information about publications, journals, authors and citations is gathered, validated, cross-referenced and analyzed using bibliometric metrics.
Findings
The results highlight two ideal research contexts for studying VAT: the EU countries approach VAT research with a centralized, pluralistic and quantitative focus, while the GCC countries adopt a centralized, qualitative and practically oriented approach, highlighting distinct research goals, collaboration styles and institutional legacies. The authors extend their result findings to broader discussions on competing knowledge systems in VAT, the significance of the state and the level of autonomy within tax governance after identifying the most popular issues among scholars working in GCC and EU countries.
Research limitations/implications
Although the focus of this analysis is restricted to the GCC and EU, it includes theoretical recommendations for broadening its application to other nations. Researchers from the GCC and the EU may benefit from this study by gaining more about VAT and being encouraged to share their research with young researchers. The study’s findings are relevant and important for comprehending the comparative state of research on VAT in GCC and EU countries, tax fields, publications and institutions.
Originality/value
This study analyzes the VAT systems of the GCC and the EU while identifying the intellectual structure of the field from each author’s point of view, revealing the scientometrics and informetrics intellectual structures in detail.
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Ola Marie Smith, Roger Y.W Tang and Paul San Miguel
The purpose of this paper is to examine the pathways to success of Arab American entrepreneurs in the Detroit Metropolitan Area, and how Arab American businesses impact the local…
Abstract
Purpose
The purpose of this paper is to examine the pathways to success of Arab American entrepreneurs in the Detroit Metropolitan Area, and how Arab American businesses impact the local Detroit economy.
Design/methodology/approach
The authors conducted extensive search of literature and in‐depth interviews with experts, entrepreneurs, CEOs and other senior executives of two large Arab and Chaldean community organizations. In addition, the authors also conducted site visits at community centers and the Seven Mile project in Detroit and Dearborn, Michigan.
Findings
The authors discovered several pathways to success important to Arab American entrepreneurship: start‐up capital provided by families and friends, training and education, support networks and support organizations in Detroit. In addition, some organizations, local churches and mosques have provided many essential services needed by new Arab American entrepreneurs. The authors found that the theory of middleman minority and the enclave economy theory provide very useful explanations for the phenomenon of Arab American entrepreneurship in Detroit. However, the natural business incubator model, first developed by Greene and Butler, best explains the success story of Arab American entrepreneurs in Detroit, Michigan.
Originality/value
The paper identifies some important pathways to the success of Arab entrepreneurship in Detroit, Michigan. The authors expand the natural business incubator model first developed by Greene and Butler by including the names of local organizations that play active roles in assisting Arab entrepreneurs in Detroit and Dearborn, Michigan.
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Interest in developing institutional explanations of political and economic behavior has blossomed among social scientists since the early 1980s. Three intellectual perspectives…
Abstract
Interest in developing institutional explanations of political and economic behavior has blossomed among social scientists since the early 1980s. Three intellectual perspectives are now prevalent: rational choice theory, historical institutionalism and a new school of organizational analysis. This paper summarizes, compares and contrasts these views and suggests ways in which cross‐fertilization may be achieved. Particular attention is paid to how the insights of organizational analysis and historical institutionalism can be blended to provide fruitful avenues of research and theorizing, especially with regard to the production, adoption, and mobilization of ideas by decision makers.