J.G. SANTESMASES, J.M. GIRON SIERRA and J. MIRA MIRA
This paper reports on the basis of an analysis of the systems developed in our laboratory the conceptual and technological evolution of automatic control of learning behaviour in…
Abstract
This paper reports on the basis of an analysis of the systems developed in our laboratory the conceptual and technological evolution of automatic control of learning behaviour in rats. Basically, there are two main conceptual frames in our approach: finite deterministic automaton and some over‐simplified high‐level programming strategies. Nevertheless, the physical implementation offers different levels according to the technological evolution of integrated electronics: S.S.I., M.S.I. and L.S.I.‐microprocessors. Part I presents a formalized methodology of learning experiments and a first system developed for operant and classical conditioning. Its implementation is based on the direct automata approach. Part II refers to the second approach: definition of a behavioural language for the description of the experiments, and the related design of a system for its interpretation in operational experimental terms, with multiprocessing on a program‐shared principle.
A.E. Delgado, J. Mira and R. Moreno‐Diaz
Many genuine aspects of the high level behaviour of the nervous system (NS) can be understood in terms of co‐operative processes among neurons computing at the algorithmic level…
Abstract
Many genuine aspects of the high level behaviour of the nervous system (NS) can be understood in terms of co‐operative processes among neurons computing at the algorithmic level. This conception of the NS is applied to the study of the co‐operative control of incompatible modes of behaviour generally associated to reticular formation. The KM space is defined to generalise the problems of modal decision. Some drastic convergence agreement algorithms in the mode selection are proposed in such a way that the NS is stable in situations of lesion or cortical inhibition which eleminates the participation of a large number of reticular units.
Sunday Obi, Festus E. Obiakor, Stephanie L. Obi and Doreen Myrie
Transition planning is an important part of special education. It is a process that helps to individualize instructions and assists students in maximizing their fullest potential…
Abstract
Transition planning is an important part of special education. It is a process that helps to individualize instructions and assists students in maximizing their fullest potential. Transition planning for students with traumatic brain injury (TBI) should mirror the regular transition process. The purpose of this chapter is to (1) describe causes, symptoms, and challenges following TBI, (2) examine the broader array of issues and challenges that impact transition planning, (3) overview educational considerations, (4) provide overview model of transition, and (5) review evidence-based practices in transition.
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Nazim Habibov, Alena Auchynnikava and Yunhong Lyu
The purpose of this study is to investigate the determinants of job retention intention among healthcare workers (HCWs) in Canada during the COVID-19 pandemic.
Abstract
Purpose
The purpose of this study is to investigate the determinants of job retention intention among healthcare workers (HCWs) in Canada during the COVID-19 pandemic.
Design/methodology/approach
Data are from a large nationally representative cross-sectional survey conducted by the Canadian National Statistics Agency. Ordered logistic regression is estimated to find an association between job retention and its main determinants as gleaned from the literature while controlling for a wide range of pertinent covariates. Odds and standardized odds are reported and discussed.
Findings
The results suggest that worsening working conditions, changes in health and well-being and lack of organizational support weaken intentions regarding job retention. Being employed rather than self-employed and working as a nurse also weakens job retention.
Originality/value
This is the first research on the determinants of intentions regarding job retention in Canada using nationally representative data. It allows us to test and confirm the results of previous studies on a large sample of Canadian HCWs. The paper also discusses the implications of the findings for health management and administration.
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Filipe Sardo and Zelia Serrasqueiro
The purpose of this paper is to analyse if capital structure decisions of small- and medium-sized Portuguese firms are in accordance with the predictions of dynamic trade-off…
Abstract
Purpose
The purpose of this paper is to analyse if capital structure decisions of small- and medium-sized Portuguese firms are in accordance with the predictions of dynamic trade-off theory, more precisely, the speed of adjustment of short-term debt (STD) and long-term debt (LTD) towards the respective target debt ratios.
Design/methodology/approach
Based on two samples of Portuguese firms, 1,377 small-sized firms and 811 medium-sized firms, dynamic estimators were used for the treatment of data obtained from the Amadeus database for the period 2007-2011.
Findings
The results indicate that small- and medium-sized firms adjust their STD and LTD ratios towards the respective target ratios. Small- and medium-sized firms present a high-speed adjustment towards the target STD ratio, suggesting that both types of firm face costs of deviating from the target capital structure, which are, probably, greater than the costs of adjustment associated with STD. However, considering the distance from the target ratio as a determinant of the adjustment speed, the results show the predominance of the negative effect of the costs of adjustment on capital structure adjustment speeds.
Originality/value
The results obtained for the speed of adjustment of STD and LTD, in a recession context, show that for small firms and medium-sized firms, mainly for the former, the costs of external market transactions are prohibitively high, slowing the speed of adjustment towards the target capital structure.
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Johann Burgstaller and Eva Wagner
The purpose of this paper s to study the financing behavior of family firms (FF), as these differ from their small- and medium-sized enterprise (SME) counterparts in their capital…
Abstract
Purpose
The purpose of this paper s to study the financing behavior of family firms (FF), as these differ from their small- and medium-sized enterprise (SME) counterparts in their capital structure decision, mainly due to an increased risk aversion and the desire to maintain control over the firm.
Design/methodology/approach
A sample of 470 SMEs from a bank-based environment is examined for the period of 2005-2010. A dynamic panel data model is utilized to assess both the role of several capital structure determinants and the target-adjusting behavior for different subsamples of firms.
Findings
The results show that FF, whether controlled by founders or not, are relatively more leveraged. The aim to maintain long-term control and limited financing options and other factors seem crucial to the observed differences in leverage and dominate risk considerations associated with higher debt. Presumed differences in agency costs across generations do not drive capital structure decisions, as overall leverage does not differ between founder- and descendant-controlled family firms (FCFF and DCFF, respectively). Firms with a founder-chief executive officer (CEO), however, adjust faster to deviations from a target debt ratio. The effects of many proposed capital structure determinants differ across firm types, but are highly consistent with predictions from the pecking order theory.
Practical implications
Based on the results of this study, we suggest policy-makers in bank-based economies like Austria to strongly focus on mechanisms that facilitate the access to bank debt to ensure adequate allocation of finances to SMEs. This is especially important to stimulate growth and further innovation for the dominant group of FF, as they rely on debt the most to maintain family control.
Originality/value
This paper makes a novel contribution to the literature, as it combines an analysis of the capital structure of non-listed family firms (NFF) in a bank-based economy, the respective role of founder management, the dynamic adjustment to a presumed debt target and joint tests of capital structure theories.
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This chapter addresses the hypothesis that the criminal justice reforms toward an accusatory/adversarial model produced in Latin America from the 1980s onwards have meant a…
Abstract
This chapter addresses the hypothesis that the criminal justice reforms toward an accusatory/adversarial model produced in Latin America from the 1980s onwards have meant a mutation in its way of functioning that can be read as an “Americanization.” Specifically, this general question is addressed by analyzing the introduction, in these reform processes, of mechanisms of conviction without trial – in their majority inspired by the “plea bargaining” of the Anglo-American tradition – that have a significant impact on the way in which the power to punish is exercised in most of the countries of the region today. This discussion is elaborated from a case study on the Province of Santa Fe (Argentina). It is argued that in the “law in books” the introduction of this type of mechanism has frequently implied a “weak Americanization,” since it was a “legal translation” (Langer, 2006) that not only generated “adoptions” but also “innovations” with respect to the parameters of the Anglo-American tradition. But it also shows how this can be combined with a “strong Americanization” in the “law in action,” differentiating the dimension of the dynamics from the dimension of the effects, based on two key observations: the weakness and infrequency of judicial control of the agreements reached by the parties and the enormous preponderance of convictions without trial. In this way, it is intended to make the idea of “Americanization” of criminal justice more complex, differentiating levels (in books/in action) and dimensions (dynamics/results).
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Peter Öhman and Darush Yazdanfar
This paper aims to empirically investigate the capital structure determinants of small and medium-sized enterprises (SMEs) with a particular focus on short- and long-term debt.
Abstract
Purpose
This paper aims to empirically investigate the capital structure determinants of small and medium-sized enterprises (SMEs) with a particular focus on short- and long-term debt.
Design/methodology/approach
Several methods were used to analyse a sample of 15,897 Swedish SMEs for which complete financial information was available for a four-year period following the 2008 financial crisis, i.e. the 2009-2012 period.
Findings
The results indicate that eight explanatory variables – i.e. size, age, growth, profitability, liquidity, asset tangibility, non-debt tax shields and industry affiliation – are associated to various extents with SME debt policy.
Research limitations/implications
The current study is limited to examining a sample of Swedish SMEs in five industry sectors covering the 2009-2012 period. Further research could examine the generalizability of the present results by considering other countries, industry sectors and periods.
Practical implications
As debt policy influences firm performance, value and survival, SME owners and managers, regulators and financial institutions may benefit from studies considering a relatively large number of capital structure determinants, several of which are linked to short- and long-term debt in various ways.
Originality/value
This study is one of the few to examine the determinants of short- and long-term debt in SMEs, which play a fundamental role in the economy, using a large-scale cross-sectional database covering a period following the 2008 financial crisis.
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Joanne Coyle and Brian Williams
Studies of patient satisfaction are regarded by many as the most important way to obtain patients′ views. To date, relatively few studies have focussed specifically on…
Abstract
Studies of patient satisfaction are regarded by many as the most important way to obtain patients′ views. To date, relatively few studies have focussed specifically on dissatisfaction. Concerns have been expressed about the validity of the concept of satisfaction. Dissatisfaction, however, has received little attention since it has been assumed to be the opposite of satisfaction and thus already defined. Therefore, a series of assumptions have also been made about dissatisfaction, which may or may not compromise its validity or usefulness. The aim of this review is to clarify the concept of dissatisfaction by examining what studies of patient satisfaction can and cannot tell us about dissatisfaction; identifying assumptions; and finally by suggesting how research might best be oriented to accommodate the complexity of patient experiences.
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Maria Elisabete Neves, Zélia Serrasqueiro, António Dias and Cristina Hermano
This paper aims to analyse the Portuguese companies’ determinants of capital structure. To reach this objective, the authors used data from 37 non-financial Portuguese large…
Abstract
Purpose
This paper aims to analyse the Portuguese companies’ determinants of capital structure. To reach this objective, the authors used data from 37 non-financial Portuguese large enterprises and from 4,233 non-financial small and medium enterprises for the period 2010-2016. Additionally, the authors selected a sub-period from 2010 to 2014 for a deeper understanding of the impact of the sovereign debt crisis and the Economic Adjustment Programme of Troika on the capital structure of those companies.
Design/methodology/approach
Three dependent variables were tested according to debt maturity, and a dynamic panel data model, namely, the generalised method of moments system estimator, was used to test the formulated research hypotheses following Arellano and Bover (1995) and Blundell and Bond (1998) to capture the dynamic nature of the firm’s capital structure decisions.
Findings
In general, the results point out that the capital structure decisions depend on a set of firm-specific factors, and that the effects of the determinants of the debt maturity ratios differ according to the type of firm, i.e. large/small firms, and the economic cycle.
Originality/value
To the best of the authors’ knowledge, this is the first study that has been carried out in Portugal by using two samples of large and small companies for analysing the effects of the Economic Adjustment Programme of Troika on the capital structure of companies. The authors seek to understand which type of companies suffered more because of the effects of the Economic Adjustment Programme of Troika during this period, and which are the capital structure determinants that present greater change. Contrary to what might be expected, large companies are the firms that suffer most from the Economic Adjustment Programme. Probably, because these companies are the most immediate, most scrutinised and those that must show abroad that the bank did not fund them in the long term, because of the imposition and limits to grant credit faced by the banks themselves.