No one could have predicted the outcry from the industry, the public, Congress and the media on the know your customer (KYC) proposal unveiled on 7th December, 1998. For many…
Abstract
No one could have predicted the outcry from the industry, the public, Congress and the media on the know your customer (KYC) proposal unveiled on 7th December, 1998. For many years, compliance officers had heard about the possibility of a regulatory proposal to formalise the policy of identifying new account holders, reporting suspicious activity and training all employees. What was finally released went far beyond that.
This paper examines the potential relationship between the history of American generations and the development of American management thought. The paper reviews the recently…
Abstract
This paper examines the potential relationship between the history of American generations and the development of American management thought. The paper reviews the recently developed generational theory of American history, along with the generational concept itself. Then, the leading thinkers in the history of the management discipline are classified according to their generational membership. The potential theoretical and research implications of the interplay of managerial and historical generations are then discussed.
THE New Year should be one of much progress in the organization of Librarianship. We wish our readers all the pleasure and prosperity that may come from increasing activity and…
Abstract
THE New Year should be one of much progress in the organization of Librarianship. We wish our readers all the pleasure and prosperity that may come from increasing activity and growing public esteem. Every year we are able to record some progress in the general estimate in which the work of libraries is held; we have not reached, and do not even approximate, to the efficiency and perfect service that we desire to attain and to render; but we believe that the library movement is on the right road.
Joseph Calandro, Ranganna Dasari and Scott Lane
This paper aims to illustrates the use of the modern Graham and Dodd valuation methodology as a corporate M&A tool by way of case study.
Abstract
Purpose
This paper aims to illustrates the use of the modern Graham and Dodd valuation methodology as a corporate M&A tool by way of case study.
Design/methodology/approach
The paper presents a case study of the 1995 Berkshire Hathaway acquisition of GEICO and draws on previously published Graham and Dodd methodological materials as well as GEICO's publicly available financial information. The valuation presented in the case is the sole work of the authors.
Findings
The paper finds that, while Graham and Dodd‐based valuation is a popular investment methodology it has thus far received scant attention as a corporate M&A tool. The results of the GEICO case suggest that Graham and Dodd valuation could be applied successfully to corporate M&A.
Research limitations/implications
The paper explains modern Graham and Dodd valuation in the context of Berkshire Hathaway's 1995 GEICO acquisition. It demonstrates how that acquisition contained a reasonable margin‐of safety, or price discount to estimated intrinsic value, even though it was taken private at a 25.6 percent premium over the $55.75/share market price at the time. The case demonstrates the practical utility of Graham and Dodd‐based valuation in corporate M&A, and provides recommendations for its use in that context.
Originality/value
While Graham and Dodd valuation has been well covered from an investment perspective this is the first work, as far as the authors are aware, that seeks to apply it to corporate M&A.
Details
Keywords
A topical examination of the risks undertaken by United States financial institutions who undertake to carry accounts for foreign officials; with some helpful direction on…
Abstract
A topical examination of the risks undertaken by United States financial institutions who undertake to carry accounts for foreign officials; with some helpful direction on detecting red flags when carrying these accounts.
Timothy J. Feddersen and Kimia Rahimi
The case describes the international problem of money laundering and summarizes U.S. bank regulations aimed at reducing money laundering activities. The introduction of H.R. 3886…
Abstract
The case describes the international problem of money laundering and summarizes U.S. bank regulations aimed at reducing money laundering activities. The introduction of H.R. 3886 in 2000 was one in a series of attempts to formalize U.S. banks' monitoring of their customers. The bill was prompted by a government report that named and criticized U.S. banks for laundering billions of dollars linked to drug trafficking, fraud, and organized crime. Interest groups in favor of H.R. 3886 were predominantly law enforcement agencies that viewed current anti-money laundering laws as ineffective. Groups opposed to the bill included the American Civil Liberties Union, which believed that the collection of more information about bank customers' activities was an invasion of privacy, and the American Bankers Association, which claimed that the legislation would impose unnecessary costs on banks. The case can be used to introduce the distributive politics framework for analyzing non-market issues and formulating nonmarket strategies in the context of government institutions. The epilogue reveals that H.R. 3886 died before it ever reached the House floor, but that an expanded version of the legislation ultimately passed---with the support of stakeholders who originally fought it---as part of the USA PATRIOT Act after the terrorist attacks of September 11, 2001. This stance reversal provides an opportunity to explore how events, public opinion, and the media can create windows of policy opportunity
Utilize a framework for analyzing options for non-market action – Formulate a strategy for nonmarket action – Recognize how public opinion influences the opportunity for non-market action through events and/or new information, political actors, media coverage, and policy windows
Details

Keywords
Purpose – To examine whether or not exposing novice teachers in a graduate literacy education diversity course to particular texts and activities focused on economic diversity and…
Abstract
Purpose – To examine whether or not exposing novice teachers in a graduate literacy education diversity course to particular texts and activities focused on economic diversity and lifestyle differences among students makes them more likely to positively respond to these lesser understood forms of diversity in their own teaching and if so, in what ways.
Design – The research design was qualitative and included written reflections from the teacher-participants at the beginning, middle and end of the semester, and videotaping and transcribing activities and post-activity discussions. Ethnographic observations and notes were made by the primary investigator (PI). The theoretical frameworks that were foundational to the study were critical literacy and teaching for social justice.
Findings – The findings of this qualitative study indicate that exposing teachers to texts, discussions, and activities that educate them on economic diversity and lifestyle differences among students makes them more likely to positively respond to these forms of diversity in their own teaching. Specific examples of how participants did this are provided.
Practical Implications – This study contributes to the literature on diversity in literacy instruction by providing concrete, research-based suggestions for how both teacher educators and K-12 teachers can expand their definitions of student diversity to include economic disparities and lifestyle differences among students. It includes recommended texts and activities for both teacher educators and K-12 teachers to address less typical forms of diversity, with a focus on economic diversity and lifestyle differences.
Details
Keywords
The question has been recently raised as to how far the operation of the Sale of Food and Drugs Acts of 1875, 1879, and 1899, and the Margarine Act, 1887, is affected by the Act…
Abstract
The question has been recently raised as to how far the operation of the Sale of Food and Drugs Acts of 1875, 1879, and 1899, and the Margarine Act, 1887, is affected by the Act 29 Charles II., cap. 7, “for the better observation of the Lord's Day, commonly called Sunday.” At first sight it would seem a palpable absurdity to suppose that a man could escape the penalties of one offence because he has committed another breach of the law at the same time, and in this respect law and common‐sense are, broadly speaking, in agreement; yet there are one or two cases in which at least some show of argument can be brought forward in favour of the opposite contention.
Alistair Byrne, David Blake and Graham Mannion
We examine the contribution and investment decisions made by members of a large UK‐based DC pension plan. We find that many employees appear to be relatively financially…
Abstract
We examine the contribution and investment decisions made by members of a large UK‐based DC pension plan. We find that many employees appear to be relatively financially sophisticated and follow approaches consistent with economic and financial theory in terms of savings rates and investment strategies. However, there are also many less sophisticated employees who stick with plan default arrangements and/or follow simple rules of thumb in saving and investing. The challenge for corporate sponsors of pension plans is in designing arrangements and communication strategies that reduce the chances of these less sophisticated plan members making mistakes – in the sense of systematic deviations from optimal behaviour.
Details
Keywords
Jill E. Ellingson and Kristina B. Tirol-Carmody
Self-report questionnaires are the predominant method used in human resource management (HRM) research to assess employees’ work-related psychological constructs (e.g., processes…
Abstract
Self-report questionnaires are the predominant method used in human resource management (HRM) research to assess employees’ work-related psychological constructs (e.g., processes, states, and attributes). However, this method is associated with significant shortcomings, including the introduction of self-serving bias and common method variance when used exclusively. In this chapter, the authors challenge the assumption that individuals themselves are the only accurate source of the self-focused information collected in HRM research. Instead, the authors propose that other-ratings – ratings of a target individual that are provided by a workplace observer, such as a coworker, supervisor, or subordinate – can accurately assess commonly measured work-related psychological constructs. The authors begin by explaining the advantages of other-ratings for HRM research and practice, reviewing the history of other-ratings and how they emerged in the personality and person-perception literature, and outlining how they have been used in HRM research to date. Then, the authors build upon Funder’s (1995) realistic accuracy model to develop a theoretical argument detailing why workplace others should be able to accurately judge how another employee thinks and feels about work. Next, the authors highlight existing evidence in the literature on the accuracy of other-ratings and present the results of a preliminary meta-analysis on the ability of other-ratings to predict self-ratings of work-related psychological constructs. Finally, the authors discuss potential moderators of other-rating accuracy and reflect on a number of practical considerations for researchers looking to use other-ratings in their own work. The authors intend for this chapter to meaningfully contribute to the larger conversation on HRM research methods. Other-ratings are a simple, yet powerful, addition to the methodological toolkit of HRM researchers that can increase flexibility in research design and improve the overall quality of research.