Irvin W. Morgan and James P. Murtagh
The purpose of this paper is to model the components of credit risk in primary debt markets and evaluate changes in these factors in times of crisis.
Abstract
Purpose
The purpose of this paper is to model the components of credit risk in primary debt markets and evaluate changes in these factors in times of crisis.
Design/methodology/approach
The authors use a unique dataset consisting of nearly 163,000 new loans and bond issues in the USA and internationally during the period January 1992 through December 2005.
Findings
The authors find that credit spreads are related to market liquidity, best represented by total proceeds, ratings and the interaction between maturity and rating. The authors control for various crisis periods, including regional financial crises and find that spreads generally increased in response to the Asian Crisis with the international markets exhibiting the larger increases. There is mixed evidence of asymmetric effects of shocks. In the US loan markets, the adjustment factor reduces forecast variance (Θ1<0). In contrast, the adjustment factor is not significant for US bonds, possibly indicating a more rapid adjustment and greater efficiency in this market. The opposite effect is seen in the international loan and bond markets with Θ1>0, indicating a persistent increase in spread volatility.
Originality/value
The paper extends our understanding of the components of primary credit spreads and the interactions between primary debt markets during crisis periods.
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Kateryna Kubrak, Fredrik Milani and Alexander Nolte
When improving business processes, process analysts can use data-driven methods, such as process mining, to identify improvement opportunities. However, despite being supported by…
Abstract
Purpose
When improving business processes, process analysts can use data-driven methods, such as process mining, to identify improvement opportunities. However, despite being supported by data, process analysts decide which changes to implement. Analysts often use process visualisations to assess and determine which changes to pursue. This paper helps explore how process mining visualisations can aid process analysts in their work to identify, prioritise and communicate business process improvement opportunities.
Design/methodology/approach
The study follows the design science methodology to create and evaluate an artefact for visualising identified improvement opportunities (IRVIN).
Findings
A set of principles to facilitate the visualisation of process mining outputs for analysts to work with improvement opportunities was suggested. Particularly, insights into identifying, prioritising and communicating process improvement opportunities from visual representation are outlined.
Originality/value
Prior work focuses on visualisation from the perspectives – among others – of process exploration, process comparison and performance analysis. This study, however, considers process mining visualisation that aids in analysing process improvement opportunities.
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Carmela Barbera, Elio Borgonovi and Ileana Steccolini
The purpose of this contribution is to investigate whether popular reports can strengthen public governance by fostering greater transparency and public participation.
Abstract
Purpose
The purpose of this contribution is to investigate whether popular reports can strengthen public governance by fostering greater transparency and public participation.
Methodology/approach
The analysis is based on the case of the “Bilancio in Arancio” of the Municipality of Milan. Data are collected through a triangulation of sources, including the authors’ direct observation, conversational interviews, the press, and a questionnaire distributed to the citizens participating in the experience.
Findings
The analysis discusses how popular reports can improve Public Governance, and identify related critical issues. More specifically, four key aspects of Popular reporting appear to play a central role in strengthening governance, that is, their capacity to ensure greater transparency, neutrality, enhanced participation and impacts on decision making. We suggest that every aspect represents an important “step” to be taken in an ideal “ladder of participation.”
Practical implications
Governments that want to enhance public governance may have an interest in developing popular reports, paying attention at ensuring transparency, neutrality, stakeholders’ participation, and their contribution to decision-making processes.
Social implications
Popular reports can provide to citizens the education on public budgeting issues required to consciously participate in public decision-making processes and give them greater voice and power to express their instances. Popular reports can also promote a two-way communication and dialogue between citizens and governments.
Originality/value
Drawing on the experience of the Municipality of Milan, more general lessons are learnt on the role of popular reports in strengthening public governance, and on the related strengths and weaknesses.
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Carol Ebdon, Yue Jiang and Aimee L. Franklin
Issues like fiscal crises and sequestration may cause elected officials to get citizen input in the budget process. This action can be viewed as a reactive strategy used when the…
Abstract
Issues like fiscal crises and sequestration may cause elected officials to get citizen input in the budget process. This action can be viewed as a reactive strategy used when the relationship with citizens is weakening; or, a proactive strategy to keep governance relationships strong. This conundrum prompts examination of how budgetary participation mechanisms serve representative democracy and governance goals. Using survey results from public officials in 391 midwestern cities regarding perceptions of governance relationships and the use of participation mechanisms, we find no significant relationships and weak explanatory power in the causal model. When trust in government keeps falling, the relative strength of the relationship between public officials and citizens is an issue that public administrators must understand to develop effective budget participation mechanisms.
Paul Taylor‐West and Jim Saker
The purpose of this paper is to report on research into the introduction of computer assisted sales processes (CASP) to a retail automotive sales environment. This research…
Abstract
Purpose
The purpose of this paper is to report on research into the introduction of computer assisted sales processes (CASP) to a retail automotive sales environment. This research specifically aims to examine the effectiveness and implications for automotive dealers, their staff and customers.
Design/methodology/approach
Primary research was carried out at three automotive dealer groups, including semi‐structured interviews with dealer managers and sales people, postal questionnaires and focus groups with existing customers.
Findings
The study found customer perceptions of the buying experience improved when CASP was used effectively in the sales process. To achieve this it is critical to evaluate the sales force's technology readiness and orientation so that training requirements can be identified. This research found the training needs of the salespeople were seriously underestimated.
Research limitations/implications
The main limitation of the research is that, due to timescales, it is a cross‐sectional study in thee different dealer groups at three different stages of CASP implementation. It would benefit from a further longitudinal research with a larger sample.
Practical implications
The use of CASP and other sales force automation systems is unlikely to lose pace; therefore organisations need to audit their salespeople's skills and use of their systems. Otherwise, the huge investments involved will not provide benefits to the organisation, the sales person or the customers.
Originality/value
This research expands on previous research into customer perceptions of the overall buying experience and contributes to sales force automation theory. It found CASP improves a sales person's effectiveness with the customer and the customer's perception of the whole buying process.
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This chapter presents an exploratory case study focused on how public libraries serve or fail to serve the information needs of the immigrant population in the Queen’s Borough of…
Abstract
This chapter presents an exploratory case study focused on how public libraries serve or fail to serve the information needs of the immigrant population in the Queen’s Borough of New York City, a region that COVID-19 is acutely impacted. This study examined immigrants’ desired types of public library services, public librarians’ role in meeting their needs, and the challenges they faced in providing services. Findings confirm immigrants’ multiple service needs and add new insights about how the public library staff plays a critical role in helping the immigrant population cope with different forms of assistance. The results further indicated that librarians face institutional and cultural barriers in serving immigrant customers that may lead to the underutilization of library services. Widespread public crises related to the COVID-19 pandemic deepened information needs and disparities.
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A three‐year study, partly funded by the Quality, Design and Education Division of the Department of Trade and Industry, has been carried out on the general subject of quality…
Abstract
A three‐year study, partly funded by the Quality, Design and Education Division of the Department of Trade and Industry, has been carried out on the general subject of quality improvement. As part of this work a literature survey of the English language papers was conducted on such issues as the effects of international competition, the nature of quality management, organisations and change, leadership, how companies set about quality improvement and supplier development. In order to examine topics pertinent to the research subject, the search covered not only the general literature on quality management but also the literature on corporate strategy, marketing, organisational psychology and operations management. The main findings from the literature search are presented and guidance is provided on some authoritative reading on quality improvement.