These notes on Sir Walter Scott by John Galt, here published for the first time, have been transcribed by Dr Hamilton B. Timothy, Associate Professor in the Department of…
Abstract
These notes on Sir Walter Scott by John Galt, here published for the first time, have been transcribed by Dr Hamilton B. Timothy, Associate Professor in the Department of Classical Studies and Galt Scholar at the University of Western Ontario, from a manuscript among the material given him by Henry Gordon Harvey Smith, Q.C., a great‐grandson of John Galt, and his sister, Mrs Muriel Harvey Turner, of Winnipeg. John Galt's youngest son, Alexander, with whom Galt's widow made her home after the novelist's death in 1839, became the Hon. Sir Alexander Galt and Canada's first Federal Finance Minister; from him John Galt's library and miscellaneous papers passed to his youngest daughter, Annie Prince Galt, who married Dr W. Harvey Smith, a distinguished opthalmologist. (In 1930 he had the rare honour of holding at the same time presidency of both the British Medical Association and the Canadian.) His carefully augmented collection of Galt family papers, inherited by his son and daughter, has now been passed to Dr Timothy for use in connexion with his study, The Galts: a Canadian Odyssey. At the same time the family collection of John Galt's writings—in sixty‐eight volumes, many from the novelist's own library—was presented to the library of the University of Western Ontario. For permission to print these interesting notes we are indebted to Mr Harvey Smith and Mrs Turner. The annotations initialled C are by Dr Robert Hay Carnie of the University of Calgary.
Daniel Gyung Paik, Timothy Hamilton, Brandon Byunghwan Lee and Sung Wook Yoon
The purpose of this paper is to investigate the association between the purpose of a loan and the type of debt covenants, separated into balance sheet-based and income…
Abstract
Purpose
The purpose of this paper is to investigate the association between the purpose of a loan and the type of debt covenants, separated into balance sheet-based and income statement-based covenants.
Design/methodology/approach
Using private loan deal observations obtained from the DealScan database over the period between 1996 and 2013, the authors classify the sample loan deals into three categories based on the purpose of borrowing, namely, borrowings for corporate daily operating purposes, financing purposes and acquisition and investing purposes. The authors conduct multinomial logistic regression analysis to test the relationship between the choice of financial ratios in a debt covenant and the purpose of a loan, controlling for financing constraints and other factors that have been identified as important to debt covenant analysis in prior studies.
Findings
The results provide evidence that the purpose of the loan is significantly associated with the type of debt covenants, suggesting that the lender and the borrower have considered the loan purpose when structuring their debt agreements. More specifically, the results indicate that the loans borrowed to fund acquisitions or long-term investment projects are more likely to have income statement-based covenants and less likely to have balance sheet-based covenants. In contrast, the loans borrowed for corporate daily operating purposes or financing purposes are more likely to contain balance sheet-based covenants relative to income statement-based covenants.
Research limitations/implications
The authors show that loan purpose is significantly associated with the choice between income statement-based and balance sheet-based covenants. This result further illustrates ways in which accounting information improves contracting efficiency. The results are limited to the US market with its institutional structure. In future studies, it would be interesting to perform similar investigations on firms in other countries.
Practical implications
The findings contain important and economically significant implications indicating that loan lenders and borrowers agree to include different types of accounting information (that is, income statement- versus balance sheet-based financial ratios) in their loan covenants for different purpose loans.
Social implications
Overall, the results provide important evidence regarding the connection between debt covenant structure and loan purpose. In doing so, it contributes to the literature on debt contract design (Dichev and Skinner 2002; Chava and Roberts 2008; Demerjian 2011; Christensen and Nikolaev 2012). Despite much interest in debt contract design, Skinner (2011) argues that there still exists incomplete knowledge of the economic factors that structure debt contracts. Income statement-based covenants depend on measures of profitability and efficiency and act as trip wires that transfer control rights to lenders when borrowing firms’ performance deteriorates. On the other hand, balance sheet-based covenants rely on information about sources and uses of capital and align interests between borrowing firms and lenders by restricting the borrower’s capital structure. The authors show that loan purpose is significantly associated with the choice between income statement-based and balance sheet-based covenants. This result further illustrates ways in which accounting information improves contracting efficiency.
Originality/value
This study is the first to identify differences in trends over time for the use of income statement- and balance sheet-based covenants as it relates to different loan purposes. The authors build on prior research to examine the degree to which loan purpose is associated with the choice between income statement-based and balance sheet-based covenants.
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Timothy Andrew Bentley, Stephen T. Teo, Bevan Catley, Kate Blackwood, Maree Roche and Michael P. O’Driscoll
The engagement and retention of older workers is a major concern for organisations and has been an increasing focus for human resource scholars internationally. Drawing on social…
Abstract
Purpose
The engagement and retention of older workers is a major concern for organisations and has been an increasing focus for human resource scholars internationally. Drawing on social exchange theory (SET), the purpose of this paper is to examine the conditions under which retention and engagement of older workers could be enhanced, together with the potential for perceptions of age discrimination to negatively influence these outcomes.
Design/methodology/approach
The study surveyed a large sample of New Zealand workers aged 55 years and over from across 28 New Zealand organisations of varying size and from a wide range of industrial sectors. A moderated-mediation model was proposed to examine the relationship between perceived organisational support (POS) and intention to leave, the mediating effect of job engagement in this relationship, and the moderating influence of perceived age discrimination on this mediation.
Findings
While POS was negatively related to workers’ intention to quit, job engagement partially mediated this relationship. Age discrimination moderated this mediation. As perceived age discrimination increased, the mediation of job engagement was weakened as POS had less influence on the job engagement of older workers.
Research limitations/implications
Implications for human resource management practice include the importance of providing organisational support for older workers along with protections from age bias and discrimination.
Originality/value
The study is one of the first to apply SET to the context of older workers, and has extended the SET literature through its examination of the role of employee engagement as a mediator of this relationship, and how perceived age discrimination, as a negative aspect of the work environment, can negatively impact these relationships.
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On 2 September 2015, it was announced that Tom Ford would again be ‘dressing James Bond’, Daniel Craig, in Spectre (Mendes, 2015) after tailoring his suits for Quantum of Solace…
Abstract
On 2 September 2015, it was announced that Tom Ford would again be ‘dressing James Bond’, Daniel Craig, in Spectre (Mendes, 2015) after tailoring his suits for Quantum of Solace (Forster, 2008) and Skyfall (Mendes, 2012). Ford noted that ‘James Bond epitomises the Tom Ford man in his elegance, style and love of luxury. It is an honour to move forward with this iconic character’.
With the press launch of ‘Bond 25’(and now titled No Time to Die) on 25 April 2019, it is reasonable to speculate that Ford will once again be employed as James Bond’s tailor of choice, given that it is likely to be Craig’s last outing as 007. Previous actors playing the role of James Bond have all had different tailors. Sean Connery was tailored by Anthony Sinclair and George Lazenby by Dimitro ‘Dimi’ Major. Roger Moore recommended his own personal tailors Cyril Castle, Angelo Vitucci and Douglas Hayward. For Timothy Dalton, Stefano Ricci provided the suits, and Pierce Brosnan was dressed by Brioni. Therefore, this chapter will analyse the role of tailoring within the James Bond films, and how this in turn contributes to the look and character of this film franchise more generally. It aims to understand how different tailors have contributed to the masculinity of Bond: an agent dressed to thrill as well as to kill.
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Robert Faff and TIMOTHY J. BRAILSFORD
In this paper we employ a GMM‐based approach to test the restrictions imposed by a two‐factor ‘market and oil’ pricing model when a risk‐free asset is assumed to exist. We examine…
Abstract
In this paper we employ a GMM‐based approach to test the restrictions imposed by a two‐factor ‘market and oil’ pricing model when a risk‐free asset is assumed to exist. We examine the Australian market which has several interesting features including self‐sufficiency in relation to oil, a large concentration of natural resource companies, susceptibility to the ‘Dutch disease’ and a diverse industry base. We extend previous literature by examining industry sector equity returns as different industry groups are likely to have different exposures to an oil factor, particularly in Australia. In the formal tests, we find evidence in favour of the model, particularly for industrial sector industries. The preferred model includes a domestic portfolio proxy for market returns in addition to the oil price factor and we find evidence of a positive market risk premium as well as a significantly priced oil factor.
Alexander Serenko, Nick Bontis, Lorne Booker, Khaled Sadeddin and Timothy Hardie
The purpose of this study is to conduct a scientometric analysis of the body of literature contained in 11 major knowledge management and intellectual capital (KM/IC…
Abstract
Purpose
The purpose of this study is to conduct a scientometric analysis of the body of literature contained in 11 major knowledge management and intellectual capital (KM/IC) peer‐reviewed journals.
Design/methodology/approach
A total of 2,175 articles published in 11 major KM/IC peer‐reviewed journals were carefully reviewed and subjected to scientometric data analysis techniques.
Findings
A number of research questions pertaining to country, institutional and individual productivity, co‐operation patterns, publication frequency, and favourite inquiry methods were proposed and answered. Based on the findings, many implications emerged that improve one's understanding of the identity of KM/IC as a distinct scientific field.
Research limitations/implications
The pool of KM/IC journals examined did not represent all available publication outlets, given that at least 20 peer‐reviewed journals exist in the KM/IC field. There are also KM/IC papers published in other non‐KM/IC specific journals. However, the 11 journals that were selected for the study have been evaluated by Bontis and Serenko as the top publications in the KM/IC area.
Practical implications
Practitioners have played a significant role in developing the KM/IC field. However, their contributions have been decreasing. There is still very much a need for qualitative descriptions and case studies. It is critically important that practitioners consider collaborating with academics for richer research projects.
Originality/value
This is the most comprehensive scientometric analysis of the KM/IC field ever conducted.
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Ashley Sanders-Jackson, Christopher Clemens and Kristen Wozniak
Purpose: Lesbian, gay, and bisexual (LGB) young adults smoke at rates much higher than the general population. Young adults, in general, are less likely to seek medical help for…
Abstract
Purpose: Lesbian, gay, and bisexual (LGB) young adults smoke at rates much higher than the general population. Young adults, in general, are less likely to seek medical help for smoking cessation and LGB individuals are less likely to seek health care generally. Alternative methods to encourage smoking cessation are necessary. This research seeks to establish whether LGB young adults in California would be willing to use social media for smoking cessation.
Approach: We conducted 41 qualitative interviews among LGB young adults in the San Francisco Bay Area and Los Angeles in Fall 2014.
Findings: The results suggest that our participants were interested in a LGB-focused social media intervention, as long as the intervention was private or anonymous and moderated. Further, across topical areas our participants spoke extensively about the import of social connections. We may be able to leverage these connections to encourage cessation.
Research Limitations: This is a qualitative, non-generalizable dataset from a fairly limited geographic area.
Public Health Implications: Online smoking cessation interventions aimed at young adults would benefit from further testing with LGB young adults to ensure efficacy among this population. In addition, states and localities concerned about young adult LGB smoking might benefit from investing in an online socially mediated cessation forum. Online interventions could be scalable and might be useful for other groups who regularly face discrimination, stigma, or other stressors that make successful smoking cessation difficult.
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Cass Hausserman, Susan Jurney and Timothy Rupert
We experimentally investigate how the level of government (either federal or state) and whether funding is being allocated to enforcement or service efforts in a revenue agency…
Abstract
We experimentally investigate how the level of government (either federal or state) and whether funding is being allocated to enforcement or service efforts in a revenue agency affects trust in the agency, as well as support for the funding initiative. We find that the two independent variables interact, such that trust in the state agency is not affected by whether the proposed funding would be allocated to service or enforcement efforts. But, at the federal level (the Internal Revenue Service), trust in the agency is significantly higher when the proposed funding is to hire additional service employees as opposed to hiring additional enforcement employees. We also find that the level of government moderates the mediating effect of trust in the agency on the relation between the use of funds and support for the funding.
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As the field of strategic management has evolved, expectations for the empirical evidence presented in manuscripts have risen substantially. Rather than a single model testing a…
Abstract
As the field of strategic management has evolved, expectations for the empirical evidence presented in manuscripts have risen substantially. Rather than a single model testing a hypothesis with a p-value below a standard threshold being sufficient, reviewers, editors, and eventual readers now demand additional evidence including multiple tests, advanced statistical models, alternative specifications, interpretation of practical rather than just statistical significance, and more. Reviewers appear to be increasingly skeptical and often raise a seemingly endless number of questions. In this chapter, I outline the idea of a body of evidence and suggest ways authors can build their evidence by anticipating reviewer questions and structuring manuscripts accordingly. Doing so allows authors to overcome skepticism by building positive rapport and trust with reviewers and the ultimate readers of their work. I conclude by discussing the review process where I offer suggestions about how reviewers and editors might adapt to this changing landscape. I specifically argue that all studies are flawed. Rather than asking for a single study to do more to address small inconsistencies or puzzling results, I suggest gatekeepers in the review process should consider the possibility that publishing and allowing research conversations to flourish might result in greater knowledge generation over time.