Michail Nerantzidis, John Filos, Anastasios Tsamis and Maria-Eleni Agoraki
The purpose of this paper is to examine the extent of Combined code (2010) impact in the Greek soft law (SEV code, 2011) and the adoption of an overlapping set (between the two…
Abstract
Purpose
The purpose of this paper is to examine the extent of Combined code (2010) impact in the Greek soft law (SEV code, 2011) and the adoption of an overlapping set (between the two codes) of best practice provisions in Greece.
Design/methodology/approach
Content analysis was conducted to examine the similarities between the UK’s Combined code (2010) and the Greek SEV code (2011). Moreover, a sample of 219 Greek listed companies’ annual reports was analyzed, and their compliance with a specific number of provisions was evaluated.
Findings
Through analyzing the content of both codes, it was found that from the total 64 provisions of the SEV code (2011), 45 were matched to at least one of the Combined codes (2010). From these 45 provisions, 26 were characterized as “in spirit” influence and 19 as “in letter”. Based on this evidence, 22 overlapping practices were selected to investigate the compliance and a quite low rate was revealed, an average percentage of 30.46 per cent. These findings indicate that while exogenous forces trigger the development and adoption of a code in Greece, in line with the UK’s, the endogenous forces tend to avoid the compliance with that “exogenous practices”. Moreover, the results support the idea that the Greek national code should be reshaped to fit the different country’s characteristics.
Research limitations/implications
The research limitations are associated with the content analysis methodology, as well as the reliability of corporate governance (CG)statements.
Originality/value
This study contributes to understanding in a more comprehensive manner the impact of Combined Code (2010) in Greek soft law. More specifically, based on a previous case study, this paper extends the seven analyzed factors of Koutoupis’ (2012) research to the total CG provisions of both codes. However, it goes further and develops a coding scheme to rate the level of compliance of the overlapping provisions.
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Michail Nerantzidis and John Filos
This study aims to investigate the recent corporate governance (CG) developments in Greece. The recent economic crisis of Greece has caused very high mobility, both at a state…
Abstract
Purpose
This study aims to investigate the recent corporate governance (CG) developments in Greece. The recent economic crisis of Greece has caused very high mobility, both at a state level by imposing a new Greek regulation in capital market and at a level of associations in Greece by recommending new voluntary codes on CG. Both the new economic conditions in the world economy after the global financial crisis of 2007-2010 and the 2009 economic crisis in Greece provide a valuable opportunity to study the CG and regulatory aspects of CG in Greece.
Design/methodology/approach
This study has three objectives, namely, to present the reasons which lead the business community in Greece to reconsider existing CG practices and outline the main aspects; to locate the current CG developments and trends in Greece in the last decade (2002-2011), especially in the light of the recent debate between various voluntary codes that have lately been proposed; and, finally, to highlight the efforts that have been made so far by companies to comply with the expanding body of CG best practices and Greek legislation.
Findings
The main finding is that the development of regulatory reforms and practices on CG is a process based on the European Union directives.
Practical implications
The improvement of legal, institutional and regulatory framework of CG in Greece can attract new investors.
Originality/value
This paper re-examines the value of CG in Greece under the new economic conditions.
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This paper provides evidence regarding the efficacy of the “comply or explain” approach in Greece and has three objectives: to improve our knowledge of the concept of this…
Abstract
Purpose
This paper provides evidence regarding the efficacy of the “comply or explain” approach in Greece and has three objectives: to improve our knowledge of the concept of this accountability mechanism, to elevate auditors’ potential role in the control of corporate governance (CG) statements and to contribute to the discussion about the reform of this principle; a prolonged dialogue that has been started by European Commission in the light of the recent financial crisis.
Design/methodology/approach
The approach taken is a content analysis of CG statements and Web sites of a non-probability sample of 144 Greek listed companies on the Athens Stock Exchange for the year 2011. Particularly, 52 variables were evaluated from an audit compliance perspective using a coding scheme. From this procedure, the level of compliance with Hellenic Federation of Enterprises (SEV) code, as well as the content of the explanations provided for non-compliance, were rated.
Findings
The results show that although the degree of compliance is low (the average governance rating is 35.27 per cent), the evaluation of explanations of non-compliance is even lower (from the 64.73 per cent of the non-compliance, the 40.95 per cent provides no explanation at all).
Research limitations/implications
The research limitations are associated with the content analysis methodology, as well as the reliability of CG statements.
Practical implications
This study indicates that companies on the one hand tend to avoid the compliance with these recommendation practices, raising questions regarding the effectiveness of the SEV code; while on the other, they are not in line with the spirit of the CG code, as they do not provide adequate explanations. These results assist practitioners and/or policy-makers in perceiving the efficacy of the “comply or explain” approach.
Originality/value
While there is a great body of research that has looked into the compliance with best practices, this study is different because it is the first one that rates not only the degree of the compliance with the code’s practices but also the content of the explanations provided for non-compliance. This is particularly interesting because it adds to the body of research by providing a new approach in measuring the quality of the “comply or explain” principle in-depth.
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The purpose of this paper is to look inside the “black box” in corporate governance (CG) measurement, and shed some light on how to construct a transparent, reliable and valid…
Abstract
Purpose
The purpose of this paper is to look inside the “black box” in corporate governance (CG) measurement, and shed some light on how to construct a transparent, reliable and valid index, considering equally both the academics and practitioners’ perspectives.
Design/methodology/approach
A synthesized literature review is presented and a CG index is developed combining the strengths of three different methodologies: the Delphi method, the classical test theory (CTT) and the analytic hierarchy process (AHP). This approach helps authors to break the process into separate steps and to select the appropriate techniques to support their decision regarding the norms, the criteria, the variables and the weights that someone should use to construct a CG index.
Findings
The authors’ analysis indicates that a well-designed CG index requires a combination of research methods to identify the best options to solve several methodological issues in index construction. For the application of this multi-methodology in Greece, the authors used two equal and independent samples to explore the different perspectives regarding the importance of the index criteria and sub-criteria. This process provides evidence that the opinion of academics and practitioners in Greece tend to converge. Moreover, it is found that this multi-methodology produces the highest variation in CG scores and ranking orders, as opposed to a traditional approach, in measuring CG disclosure, an important issue with econometric implications.
Research limitations/implications
The limitations of this study are associated with the methods used.
Practical implications
This paper provides practical implications for investors and commercial vendors. For the former, it highlights the need to be more cautious and/or suspicious when they use CG ratings, meaning that they should comprehend the base of the ratings models, and for the latter, it demonstrates the importance of enhancing the transparency in CG indices construction.
Originality/value
The value of the paper lies in improved understanding of the methodological issues in constructing CG indices. This is quite interesting because this approach could serve as a roadmap for other researchers.
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Elizabeth A. Gregg, David A. Pierce, Kristi M. Sweeney and Jason W. Lee
The purpose of this paper is to explore factors affecting participant awareness, attraction, and attachment to the National Multiple Sclerosis Society’s (NMSS) MS 150 PGA Tour…
Abstract
Purpose
The purpose of this paper is to explore factors affecting participant awareness, attraction, and attachment to the National Multiple Sclerosis Society’s (NMSS) MS 150 PGA Tour Cycle to the Shore charitable bike ride utilizing the Psychological Continuum Model (PCM) developed by Funk and James. In addition, the authors sought to outline variables sport organizations can use to predict donor behavior.
Design/methodology/approach
Data for this project were derived from an electronic survey distributed to race participants and was analyzed in SPSS® software. Regression analysis was employed.
Findings
The findings support previous research employing the PCM; wherein social situational variables have the greatest influence on the relational significance of hedonic and dispositional needs in attraction and attachment to sporting events. The work supports the inclusion of communities as an additional attachment outcome.
Practical implications
In all, 92 percent of riders were informed about the event through word of mouth (WOM) marketing, highlighting the importance this promotional technique in the awareness stage of the PCM. NMSS would be well served by capitalizing on the power of WOM.
Originality/value
The research provides insight into predictors of fundraising efficacy. In terms of fundraising effectiveness, participants with four or more years of participation were six times more likely than first-year riders to raise $1,000 or more.
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Seda Yetimoğlu and Kaplan Uğurlu
With the development of the internet and mobile technology products, revolutions are experienced in consumer behavior. Consumers of the digital age browse the other users’…
Abstract
With the development of the internet and mobile technology products, revolutions are experienced in consumer behavior. Consumers of the digital age browse the other users’ experiences and thoughts before purchasing a product or service. The use of social media (SM) platforms, which are getting stronger day by day, is also preferred by companies so as to convey any message to the target audiences. SM platforms such as Instagram, Facebook, Twitter and YouTube are the most outstanding and commonly used channels through which companies reach the target audiences. Sharing, especially including visual elements, supplies the highest level of interaction with the target audience. However, the internet bloggers/vloggers (video blogger), phenomena, influencers or SM marketers have a significant impact on the consumers of the digital age with their channels on the internet and their sharing in SM accounts. Tourism companies are not indifferent to the increasing importance of SM. Thus, they prefer working with SM influencers or bloggers by conveying the info and messages to their consumers to perceive their products and services. The influencers can spread the messages of the companies to wider consumers that companies might never be able to reach. For some years, the inclusion of influencers as part of a communication and marketing strategy has become more common and necessary for the promotion of a destination, airline or hotel group. This has been generated due to important factors such as trust, which has been the best ally of influencers: in most cases people give higher levels of credibility to what is said and done by instagramers, youtubers, bloggers, twitterers, etc. In recent years, it is one of the hottest new ways to affect potential guests’ buying decisions and create high-quality content without the excessive costs of most marketing efforts.
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This chapter discusses emerging issues in event management with a focus on small-scale events. The author reflects on managerial approaches to stakeholder involvement and…
Abstract
This chapter discusses emerging issues in event management with a focus on small-scale events. The author reflects on managerial approaches to stakeholder involvement and engagement, and underlines the complexity of strategy formulation for destination development planning. This contribution also provides advanced conceptual instruments for event marketing as guiding principles that permeate destination-marketing strategies. In addition, the author investigates the role and nature of sponsorship linked to enhancing the value of small-scale events and highlights fundamental issues in developing a marketing management model for place marketing and the key drivers of event management strategies involving sponsors and event participants.
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Jamie Cleland and Connor MacDonald
This chapter outlines the extent to which the traditional characteristics of masculinity in sport – initially played out in sports stadia and the traditional media in the late…
Abstract
Purpose
This chapter outlines the extent to which the traditional characteristics of masculinity in sport – initially played out in sports stadia and the traditional media in the late nineteenth and throughout most of the twentieth century – are now also a feature of social media and digital technology platforms in the twenty-first century. At the outset, this chapter discusses the historical association between masculinity and sporting competition and how this has played an important role in presenting a normative heterosexual identity among players, fans, and the traditional media. The chapter then discusses the introduction of social media and digital technology platforms and the impact this history is having in these rapidly consumed spaces, with a particular focus on language, such as hate speech.
Design/methodology/approach
This chapter examines and discusses a myriad of literature from inside and outside of academia that explores masculinity, sport, and the internet. These discussions are backgrounded within a historical context and connected to contemporary examples.
Findings
Social media and digital technology platforms have provided opportunities for athletes, the media, and fans, to engage in more of an active debate on masculinity in sport than existed in the twentieth century. However, the chapter also addresses the traditional characteristics of masculinity that remain in the culture of sport and in online environments, especially surrounding hate speech.
Originality/value
This chapter, while engaging in an emerging topic of discussion, offers important recommendations for future research and the ways in which this can be methodologically carried out on the internet on a variety of topic areas surrounding masculinity in sport from a sociological perspective.
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Aman Preet Singh, Gopalakrishnan Narayanamurthy and Divya Bhutiani
This case draws upon the literature on appropriate leadership behaviors that Yahoo’s Founders or CEOs could have adopted. It discusses the process of environmental analysis that…
Abstract
Theoretical basis
This case draws upon the literature on appropriate leadership behaviors that Yahoo’s Founders or CEOs could have adopted. It discusses the process of environmental analysis that would have an impact on Yahoo!’s strategy. It discusses and depicts the levels of environmental analyzes that Yahoo! as a firm ought to have undertaken in mapping its competitive environment. Further, this case discusses transformational leadership factors and those behavioral traits that exemplify each of these factors. Finally, the four elements of aspiration in discussing future firm direction are identified. These include an appropriate vision translated into a clarifying mission reflected in specific objectives grounded in explicit value statements.
Research methodology
This case is based on secondary data sources that include official company records, online reports and commentary, newspaper reports, public interviews and books. All such information has been appropriately referenced.
Case overview/synopsis
Yahoo!, in its 22 years of existence, has demonstrated remarkable tumult. It has witnessed a succession of six CEOs, exhibited a roller coaster trajectory in its stock price and, for the most part of its existence, played “catch-up” with its strategic competitors. It has also struggled to define its core purpose, its industry category and its very essence of being. In early 2016, CEO Marissa Mayer announced that Yahoo! would be willing to sell its core internet business and that its board would “engage on qualified strategic proposals.” However, the board also reiterated that turning around Yahoo! to prosperity continued to remain a top priority. What went wrong, so terribly wrong, with Yahoo! in an otherwise lucrative industry? Does Yahoo! suffer from a fundamental, essential malaise which, if addressed, could restore it to wealth and vibrancy? This case focuses on the period 1994, the inception of Yahoo!, to early 2016. The acquisition of Yahoo! by Verizon, completed in 2017, is not to be considered for purposes of this case study.
Complexity academic level
This case is particularly suited to be taught in a capstone strategic management course for MBA/Master’s level business students, after they have been exposed to core courses in Marketing, Business Law, Accounting, Supply Chain, Corporate Finance. It may also be taught in an advanced strategy course for undergraduate business students, typically in their final year of study. Finally, this case can be used to teach senior management in executive management programs.
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Jolene H. Bodily and Kristin J. Behfar
Hasn’t everyone at some point felt as if the universe was conspiring against his or her success? This case narrative tracks the story of Emmett Taylor, an operations manager for a…
Abstract
Hasn’t everyone at some point felt as if the universe was conspiring against his or her success? This case narrative tracks the story of Emmett Taylor, an operations manager for a bottling company, as a snow and ice storm bears down on his southeastern U.S. plant. Taylor is already plagued by stress caused by all facets of his life-family, work, and personal health-and this storm is no exception. The story offers an opportunity to discuss time, energy, and priority management; individual behavior from a type-A personality; work-life balance; organizational behavior; and leadership. This case is a suitable substitution for the classic best-selling Darden case “John Wolford” (UVA-OB-0167).