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Article
Publication date: 20 March 2007

Gerald T. Garvey and Amin Mawani

The purpose of this study is to present theory and empirical evidence on whether changes in leverage are systematically associated with changes in the CEO's risk incentives over…

1984

Abstract

Purpose

The purpose of this study is to present theory and empirical evidence on whether changes in leverage are systematically associated with changes in the CEO's risk incentives over time.Design/methodology/approach – A model is developed to explain the dynamic relationship between leverage and managers’ risk incentives, and empirically tested with data on executive stock option grants. The model relies on the observation that the risk sensitivity of a call option does not monotonically increase or decrease in the value of the underlying stock.Findings – It is found that changes in the CEO's risk incentives are not systematically correlated with changes in the firm's leverage over time.Research limitations/implications – The near‐universal practice of setting option exercise prices near the prevailing stock price at the date of grant effectively undoes most of the effects of financial leverage, and therefore executives’ incentives to take equity risk are not correlated with firm leverage.Practical implications – For reasonable parameter values, this risk incentive‐maximizing stock price lies very close to the option's exercise price. This finding provides evidence that stock options plans granted approximately at‐the‐money encourage maximum risk‐taking by managers in a dynamic setting.Originality/value – This paper develops theory and evidence to explain why executive stock options are usually granted at‐the‐money.

Details

Managerial Finance, vol. 33 no. 4
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 20 March 2007

216

Abstract

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Managerial Finance, vol. 33 no. 4
Type: Research Article
ISSN: 0307-4358

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Book part
Publication date: 26 August 2019

Janice A. Dole, Gerald G. Duffy and P. David Pearson

Purpose – The purpose of this chapter is to consider the historical context of the gradual release model as it emerged following the early twentieth century emphasis on…

Abstract

Purpose – The purpose of this chapter is to consider the historical context of the gradual release model as it emerged following the early twentieth century emphasis on behaviorism as psychologists (and reading researchers) increasingly focused on cognition in the reading process. This “cognitive turn” in educational psychology was followed closely by a “social turn” with its focus on the socially constructed nature of texts, learning, and reading, particularly influenced by Vygotsky and work on scaffolding.

Design/methodology/approach – This chapter uses literature from the field to contextualize the gradual release of responsibility (GRR) model and to discuss research or practice chapters included in this edited volume.

Findings – This chapter described the transition from behaviorism to cognition to social construction as it applies to the reading process generally and to GRR in particular. It noted that this transition has required teachers to be more nimble and flexible than ever before, cautioned that the complexity of classroom life and the pressures on teachers can cause techniques such as GRR to be misused, and suggested ways to manage the group work which is central to social cultural approaches to literacy. And along the way it spotlighted the ever-widening range of applications of the GRR documented in the earlier chapters of the book.

Practical implications – The section in this chapter with most immediate practical implication is clearly the section on misuses of the GRR model. This section discusses some misuses of the model: neglecting explicit teaching; missing the middle (i.e., jump from explicit teaching directly to independent practice); and applying in an overly rigid manner.

Originality/value of paper – This chapter makes an original contribution to the field in providing a historical context for the gradual release model and for addressing the chapters in this edited collection. The authors also point to some areas for next steps forward as reminders to those applying the model.

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The Gradual Release of Responsibility in Literacy Research and Practice
Type: Book
ISBN: 978-1-78769-447-7

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Article
Publication date: 1 April 1982

HOWARD D. WHITE and BELVER C. GRIFFITH

Interrelations of writings in a complex field such as studies of science, technology and society, turn out to be highly patterned when data on author co‐citations are…

241

Abstract

Interrelations of writings in a complex field such as studies of science, technology and society, turn out to be highly patterned when data on author co‐citations are statistically analysed and mapped. For both authors and specialities, the maps reveal structures of subject matter and intellectual impact, based on the perceptions of hundreds of citers since 1972. A new tool thus is available to historians and others concerned with a field's intellectual development.

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Journal of Documentation, vol. 38 no. 4
Type: Research Article
ISSN: 0022-0418

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Article
Publication date: 1 March 1993

Dario J. Villa and Sara C. Schwarz

Political correctness, also known as “PC,” has generated much discussion on both the Right and the Left. The greatest debate comes from college campuses. Political correctness…

190

Abstract

Political correctness, also known as “PC,” has generated much discussion on both the Right and the Left. The greatest debate comes from college campuses. Political correctness derives from the principle that ethnic diversity, i.e., multiculturalism, can and should be preserved and protected. Ironically, the term originated in the Marxist era, when it was used to enforce conformity in the advancement of a particular Marxist view. The term became obsolete until it was revived in the 1980s (D'Souza, 1991).

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Collection Building, vol. 13 no. 1
Type: Research Article
ISSN: 0160-4953

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Book part
Publication date: 1 February 2021

Natalia Kucirkova

Abstract

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The Future of the Self: Understanding Personalization in Childhood and Beyond
Type: Book
ISBN: 978-1-80043-945-0

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Book part
Publication date: 30 April 2018

George R. Goethals

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Realignment, Region, and Race
Type: Book
ISBN: 978-1-78743-791-3

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Article
Publication date: 1 March 1927

The Ministry of Health Report, No. 39, upon the Determination of Benzoic Acid in Foodstuffs, which has just been issued, gives a review of the existing literature dealing with the…

23

Abstract

The Ministry of Health Report, No. 39, upon the Determination of Benzoic Acid in Foodstuffs, which has just been issued, gives a review of the existing literature dealing with the determination of benzoic acid in foodstuffs, the analytical difficulties involved being fully discussed. The Report deals not only with fruit and vegetable products, in which benzoic acid is permitted under the Regulations, but includes also other foods such as milk, fats and meat products in which benzoic acid has, at times, been used as a preservative. In conclusion, a detailed description is given of a new method which has been employed for the determination of benzoic acid in certain fruits and vegetables.

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British Food Journal, vol. 29 no. 3
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 December 2004

Graeme Newell, Chau Kwong Wing and Wong Siu Kei

Hong Kong is one of the most dynamic property markets in the world, and now provides the economic gateway to China. Using style analysis, the level of direct property in Hong Kong…

2628

Abstract

Hong Kong is one of the most dynamic property markets in the world, and now provides the economic gateway to China. Using style analysis, the level of direct property in Hong Kong property company performance is shown to be approximately 15 per cent over 1984‐2000, with the level of direct property increasing to approximately 25 per cent in recent years. The level of direct property in Hong Kong property company performance is significantly below that seen for the USA, Europe and Australia. This highlights a number of key strategic property investment issues over 1984‐2000, relating to the level of direct property in Hong Kong property company performance. Also assesses the level of direct property at the individual property company level, as well as the property company sector level, further emphasising the strategic role of Hong Kong property companies in an investment portfolio. This research complements the previous research by Brown and Chau on excess returns in the Hong Kong property market, as well as highlighting the issues and role of both direct and indirect property for inclusion in diversified investment portfolios; these being key areas of Gerald Brown's extensive property research agenda.

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Journal of Property Investment & Finance, vol. 22 no. 6
Type: Research Article
ISSN: 1463-578X

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Article
Publication date: 1 August 2002

Birger Hjørland

What kind of knowledge is needed by information specialists working in a specific subject field like medicine, sociology or music? What approaches have been used in information…

13167

Abstract

What kind of knowledge is needed by information specialists working in a specific subject field like medicine, sociology or music? What approaches have been used in information science to produce kinds of domain‐specific knowledge? This article presents 11 approaches to domain analysis. Together these approaches make a unique competence for information specialists. The approaches are: producing literature guides and subject gateways; producing special classifications and thesauri; research on indexing and retrieving specialities; empirical user studies; bibliometrical studies; historical studies; document and genre studies; epistemological and critical studies; terminological studies, LSP (languages for special purposes), discourse studies; studies of structures and institutions in scientific communication; and domain analysis in professional cognition and artificial intelligence. Specific examples and selective reviews of literature are provided, and the strengths and drawbacks of each of these approaches are discussed.

Details

Journal of Documentation, vol. 58 no. 4
Type: Research Article
ISSN: 0022-0418

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