Emanuel Gomes, David W. Lehman, Ferran Vendrell-Herrero and Oscar F. Bustinza
The purpose of this study is to develop a history-based framework of servitization and deservitization.
Abstract
Purpose
The purpose of this study is to develop a history-based framework of servitization and deservitization.
Design/methodology/approach
The study draws on three history-based management theories, i.e. industry lifecycle, strategic pivoting and strategy restoration, to develop a conceptual framework of how servitization and deservitization pivots influence firm performance in different stages of the industry lifecycle. A series of examples involving configurations and reconfigurations in production illustrate the theoretical propositions.
Findings
The proposed framework predicts that servitization pivots positively influence firm performance in the ferment phase, but this effect gradually diminishes as industries advance into transition and mature phases. In contrast, the framework predicts that deservitization pivots negatively influence firm performance in the ferment phase; this effect, too, becomes negligible in the transition phase but positive in the mature phase. Moreover, the proposed framework predicts that deservitization pivoting outperforms servitization pivoting in mature servitized industries to the extent that such pivots are restorative in nature, thereby suggesting that deservitization may represent a strategic opportunity for firms in mature industries.
Originality/value
This study highlights the role of history-based management theories in enhancing our understanding of servitization and deservitization.
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On September 15, 2008, Lehman Brothers filed for bankruptcy and nearly caused a meltdown of the financial system. This article looks at the situation before Lehman went bankrupt…
Abstract
On September 15, 2008, Lehman Brothers filed for bankruptcy and nearly caused a meltdown of the financial system. This article looks at the situation before Lehman went bankrupt and how this event came to trigger a financial panic during the fall of 2008 and early 2009. Two key ideas inform the analysis. The first is that what triggers financial panics are typically hidden losses. The second is that confidence plays a key role in financial panics and that confidence can be conceptualized as a belief that action can be based on proxy signs, rather than on direct information about the situation itself.
Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way…
Abstract
Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.
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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…
Abstract
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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Jim Rooney and Suresh Cuganesan
The purpose of this study is to examine how managers in financial institutions satisfy themselves of the effectiveness of risk mitigation strategy and management control. It…
Abstract
Purpose
The purpose of this study is to examine how managers in financial institutions satisfy themselves of the effectiveness of risk mitigation strategy and management control. It studies the co-opting of accounting tools within a single financial institution case study, examining the recursive and emergent characteristics of risk management practice.
Design/methodology/approach
Adopting a field study approach within the strategy-as-practice perspective, the paper provides insights into the role of actor perceptions of risk and accounting as a calculative practice in the adaptive enactment of risk strategy.
Findings
Results highlight the interactions between risk management strategy, management controls and actor interests at Lehman Brothers. The actions and reactions of risk management decision-makers such as Executive Committee and Board members are examined to better understand the role of accounting and leadership.
Research limitations/implications
Results of this study may not be generalised beyond this single case study.
Practical implications
The paper emphasises that concern for the social relations and the performative interests of actors in a risk management network needs to be understood and considered in accounting research. It is argued that the market prices of tradable financial asset will continue to be opaque without these insights.
Originality/value
This study explores an under-researched topic in the accounting literature in examining how management controls are affected by and, in turn, affect risk strategising.
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The librarian and researcher have to be able to uncover specific articles in their areas of interest. This Bibliography is designed to help. Volume IV, like Volume III, contains…
Abstract
The librarian and researcher have to be able to uncover specific articles in their areas of interest. This Bibliography is designed to help. Volume IV, like Volume III, contains features to help the reader to retrieve relevant literature from MCB University Press' considerable output. Each entry within has been indexed according to author(s) and the Fifth Edition of the SCIMP/SCAMP Thesaurus. The latter thus provides a full subject index to facilitate rapid retrieval. Each article or book is assigned its own unique number and this is used in both the subject and author index. This Volume indexes 29 journals indicating the depth, coverage and expansion of MCB's portfolio.
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Ian Fillis and Kim Lehman
The authors adopt a biographical methodology to investigate how a privately funded art museum has risen to become a key visitor destination on the island of Tasmania, Australia.
Abstract
Purpose
The authors adopt a biographical methodology to investigate how a privately funded art museum has risen to become a key visitor destination on the island of Tasmania, Australia.
Design/methodology/approach
The authors utilise both entrepreneurship and consumption as collecting lenses to gain insight into the success of a new arts venture. In addition to biographical methodology the authors utilise in-depth interviews and participant observation.
Findings
The analysis shows what can be achieved when alternative paths to creativity and innovation are pursued. The creativity inherent in such actions does not necessarily have to be substantial. Sometimes incremental approaches to achieving something different from the norm are sufficient.
Research limitations/implications
Implications include the continued merits of adopting a biographical approach to uncovering longitudinal insight into interlinking entrepreneurship and consumption practices. This approach enables key impacting events over time to be identified as they impact on the direction taken by the art entrepreneur.
Practical implications
There is growing evidence that administrative approaches to arts governance are limiting in their effectiveness. This paper addresses the call to be more entrepreneurial in arts governance practices.
Originality/value
There are only a limited number of papers on entrepreneurship and consumption in the arts and this research adds to knowledge in the area.
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Alexandra L. Ferrentino, Meghan L. Maliga, Richard A. Bernardi and Susan M. Bosco
This research provides accounting-ethics authors and administrators with a benchmark for accounting-ethics research. While Bernardi and Bean (2010) considered publications in…
Abstract
This research provides accounting-ethics authors and administrators with a benchmark for accounting-ethics research. While Bernardi and Bean (2010) considered publications in business-ethics and accounting’s top-40 journals this study considers research in eight accounting-ethics and public-interest journals, as well as, 34 business-ethics journals. We analyzed the contents of our 42 journals for the 25-year period between 1991 through 2015. This research documents the continued growth (Bernardi & Bean, 2007) of accounting-ethics research in both accounting-ethics and business-ethics journals. We provide data on the top-10 ethics authors in each doctoral year group, the top-50 ethics authors over the most recent 10, 20, and 25 years, and a distribution among ethics scholars for these periods. For the 25-year timeframe, our data indicate that only 665 (274) of the 5,125 accounting PhDs/DBAs (13.0% and 5.4% respectively) in Canada and the United States had authored or co-authored one (more than one) ethics article.
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Jacqueline A. Burke and Hakyin Lee
Mandatory auditor firm rotation (mandatory rotation) has been a controversial issue in the United States for many decades. Mandatory rotation has been considered at various times…
Abstract
Mandatory auditor firm rotation (mandatory rotation) has been a controversial issue in the United States for many decades. Mandatory rotation has been considered at various times as a means of improving auditor independence. For example, in the United States, the Public Company Accounting Oversight Board (PCAOB) has considered mandatory rotation as a solution to the independence problem (PCAOB, 2011) and the European Parliament approved legislation that will require mandatory rotation in the near future (Council of European Union, 2014). The concept of implementing a mandatory rotation policy has been encouraged by some constituents of audited financial statements and rejected by other constituents of audited financial statements. Although there are apparent pros and cons of such a policy, the developmental process of such a policy in this country has not necessarily been an open-democratic, objective process. Universal mandatory rotation may or may not be the ideal solution; however, an open-democratic, objective process is needed to facilitate the development of a solution that considers the needs of all major stakeholders of audited financial statements – not simply accounting firms and public companies, but also investors. The purpose of this paper is to critically examine key issues relating to mandatory rotation and to encourage and stimulate future research and ongoing dialogue regarding this issue, in spite of efforts by certain constituents to silence the issue. This paper provides an overview of the various reasons, including practical, theoretical, political, and self-motivated reasons, why a mandatory rotation policy has not been implemented in the United States in order to address the potential conflict of interest between the auditor and client. This paper will also discuss how some deliberations of mandatory rotation have been flawed. The paper concludes with a summary of key issues along with two approaches for regulators, policy makers, and academics to consider as ways to improve the process and address auditor independence. The authors are not advocating for any specific solution; however, we are advocating for a more objective, unified approach and for the dialogue regarding auditor rotation to continue.
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Carol Royal and Loretta O’Donnell
Purpose – Institutional investors need to move beyond first- and second-generation interpretations of Corporate Social Responsibility (CSR) and Socially Responsible Investment…
Abstract
Purpose – Institutional investors need to move beyond first- and second-generation interpretations of Corporate Social Responsibility (CSR) and Socially Responsible Investment (SRI) (based on negative filters), and also beyond third and fourth generations (based on positive and integrated filters), which are more sophisticated but still limited, and toward a fifth generation of SRI and CSR. A fifth-generation model systematically incorporates critical intangibles, such as human capital analysis, into the Environmental, Social, and Governance (ESG) investment process.
Methodology – This chapter incorporates a literature review and draws on a range of qualitative research and case studies on the current and potential role of regulators to regulate nontraditional measures of value.
Findings – The power of institutional investors is currently based on incomplete information from listed companies on how they create value, yet it rests on superior knowledge and insight into the workings of the companies in which they invest, and is only as strong as the quality of the information it uses to make investment decisions on behalf of clients.
Research implications – More research on the role of human capital analysis, and its regulatory consequences, is required.
Practical implications – Regulators need to act within the context of these fifth-generation models in order to create the environment for more transparent investment recommendations.
Originality of chapter – This chapter contributes a qualitative and conceptual perspective to the debate on the role of regulation beyond the global financial crisis.