Lea Anne Copenhefer, Roger P. Joseph and Joshua B. Sterling
The purpose of this paper is to analyze the implications of the May 19, 2008 decision by the US Court of Appeals for the Seventh Circuit in Jones v. Harris Associates.
Abstract
Purpose
The purpose of this paper is to analyze the implications of the May 19, 2008 decision by the US Court of Appeals for the Seventh Circuit in Jones v. Harris Associates.
Design/methodology/approach
The paper reviews the 1982 decision of the US Court of Appeals for the Second Circuit in Gartenberg v. Merrill Lynch Asset Management, summarizing the Harris Associates opinion of the Seventh Circuit Court of Appeals, the paper also discusses the criticisms by the Seventh Circuit Court of Appeals of the earlier Gartenberg decision, and makes observations on why other courts may not be persuaded by the Harris Associates decision, and provides guidance to mutual funds and their directors and advisers in light of the Harris Associates opinion.
Findings
The findings in the paper are that the Harris Associates opinion suggests that a court need only determine whether the adviser to a mutual fund negotiated its advisory fee in a manner consistent with its fiduciary duty to that fund. However, the paper also finds that it would be premature for directors and advisers to conclude that they should abandon or substantially lessen the processes they have implemented to satisfy the Gartenberg standard, including requesting and evaluating such information as may reasonably be necessary to evaluate the terms of an advisory contract and reviewing an adviser's performance and compensation carefully. In addition, their opinion does not relieve mutual funds of their obligations to discuss – in their shareholder reports and proxy statements – the material factors considered and the conclusions reached in approving advisory contracts.
Originality/value
The paper is a practical guidance by experienced securities lawyers.
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The purpose of this study is to examine the effectiveness of education for sustainable development (ESD) approaches in English as a foreign language (EFL) in Japanese higher…
Abstract
Purpose
The purpose of this study is to examine the effectiveness of education for sustainable development (ESD) approaches in English as a foreign language (EFL) in Japanese higher education.
Design/methodology/approach
A content and language integrated learning (CLIL) University-level course was run over two separate semesters: the first as a lecture-based course and the second was a similar course that integrated ESD best-practice. A program effects case study was used to see if any significant changes could be measured between the separate semesters. A mixed-methods approach to data collection was used and student marks, survey results using values, beliefs and norms (VBN) model and reflection tasks were collected across the two courses.
Findings
A meaningful change in the ascription of responsibility and personal norms was present in the ESD best-practice course. This shows that ESD best-practice integration into language teaching has a positive impact on student environmental VBN and more research is necessary for this area.
Practical implications
ESD integrated into language teaching correlates positively with environmental behavior change according to the VBN-model. A new field of study is proposed, language education for sustainable development, to better integrate the disciplines of EFL and ESD.
Originality/value
This study is looking at the integration of ESD in language teaching and CLIL based courses in Higher Education and, at present, there are no other studies of this kind.
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The Equal Pay Act 1970 (which came into operation on 29 December 1975) provides for an “equality clause” to be written into all contracts of employment. S.1(2) (a) of the 1970 Act…
Abstract
The Equal Pay Act 1970 (which came into operation on 29 December 1975) provides for an “equality clause” to be written into all contracts of employment. S.1(2) (a) of the 1970 Act (which has been amended by the Sex Discrimination Act 1975) provides:
Thomas Pittz, Joshua S. Bendickson, Birton J. Cowden and Phillip E. Davis
Owners of the US-based sport teams are seeing consistent gains on their financial investments, no matter the success of their teams on the playing field or their impact on the…
Abstract
Purpose
Owners of the US-based sport teams are seeing consistent gains on their financial investments, no matter the success of their teams on the playing field or their impact on the surrounding community. Sports teams are a part of an ecosystem comprised of primary and secondary stakeholders. The authors explore this phenomenon using a stakeholder perspective to understand how different business models and ownership structures optimize stakeholder value.
Design/methodology/approach
The authors employ an evaluative conceptual approach to examine the dominant model in the US, European ownership structures and public-private partnerships (PPPs). T finalize these comparisons by exploring a fourth business model and ownership structure – a relatively unique option in the US deployed by the Green Bay Packers – which we refer to as the maximized value partnership (MVP). These comparisons are followed by practical advice for owners in regard to these governance mechanisms.
Findings
The MVP ownership model has the potential to level the playing field between public and private actors. This potential is realized by fusing some of the best practices from European football clubs, in particular aspects of the stock market and supporter trust models.
Originality/value
By evaluating the most common ownership structures for sports teams, t provide an alternative model as well as practical advice for owners.
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Anna Marie Johnson, Amber Willenborg, Christopher Heckman, Joshua Whitacre, Latisha Reynolds, Elizabeth Alison Sterner, Lindsay Harmon, Syann Lunsford and Sarah Drerup
This paper aims to present recently published resources on information literacy and library instruction through an extensive annotated bibliography of publications covering all…
Abstract
Purpose
This paper aims to present recently published resources on information literacy and library instruction through an extensive annotated bibliography of publications covering all library types.
Design/methodology/approach
This paper annotates English-language periodical articles, monographs, dissertations and other materials on library instruction and information literacy published in 2017 in over 200 journals, magazines, books and other sources.
Findings
The paper provides a brief description for all 590 sources.
Originality/value
The information may be used by librarians and interested parties as a quick reference to literature on library instruction and information literacy.
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Joshua J.S. Chang and Mark David Chong
Internet fraud is an epidemic that costs US$7.1 billion as of 2007. The advent of the internet and proliferation of its use makes it an attractive medium for communicating the…
Abstract
Purpose
Internet fraud is an epidemic that costs US$7.1 billion as of 2007. The advent of the internet and proliferation of its use makes it an attractive medium for communicating the fraud, particularly through the use of e‐mail. This paper aims to explain how victims of online fraud can be influenced by judgmental heuristics and cognition when they make nonnormative or sub‐optimal decisions.
Design/methodology/approach
The paper will analyse the content of 14 recent fraud e‐mails to explain how victims of online fraud can be influenced from a psychological perspective, using theories of bounded rationality, judgmental heuristics and cognition.
Findings
The paper suggests that e‐mail fraudsters, whether intentionally or not, employ specific methods that correspond closely to how the human mind works within a context of bounded rationality. These methods have a propensity to exploit psychological blind spots in victims caused by selective perception and post‐decisional dissonance, as well as sub‐optimal or nonnormative responses in automatic behaviour due to the common use of heuristics (for example, representativeness, availability and affect) when making decisions in complex task environments.
Originality/value
Considering the current and widespread problem of online fraud, this paper is expected to inform and prepare internet users against such deception by offering a better understanding of how fraudsters can psychologically influence the way victims and potential victims make their decisions.
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THERE is far too much talk and writing about book expenditure per authority or per 1,000 of population, which frankly does not get one very far. What matters is what books you buy…
Abstract
THERE is far too much talk and writing about book expenditure per authority or per 1,000 of population, which frankly does not get one very far. What matters is what books you buy or do not buy. I have picked, quite at random, one copy of the British National Bibliography, for May 7th, 1958, and made a list of all the books which I think every library authority ought to have, whether large or small, industrial, rural or urban. These titles would meet the needs of the inhabitants of any community and enlarge their vision, give them the materials for attempting an understanding of the world and its problems, arts and sciences, and enable them to improve their abilities and skills, and fit themselves physically, mentally and morally to be useful citizens. It sounds pompous, I know, but that is what we are trying to do. Here is part of the list: Irwin: Origins of the English Library. Jung: Undiscovered Self (a world famous psychologist on social problems). Mackenzie: Free Elections (textbook on matters of interest to all citizens). Finer: Anonymous Empire (lobbying, its faults and virtues). Roberts: Trade Union Congress. Pollard: Problem of Divorce. Stengel: Attempted Suicide. Railway Magazine Miscellany. Dunn: Teach Yourself Japanese. Trustram: Classbook of Arithmetic and Trigonometry. Calder: Electricity Grows Up. Morley and Hughes: Elementary Engineering Science (a standard work). Powell: Physics, Vol. 2 (textbook for National Certificate students). Bowen: Exploration of Time. Brown: How to Make a Home Nature Museum. Leithauser: Inventors of Our World. Meares and Neale: Electrical Engineering Practice. Lamberment and Pirie: Helicopters and Autogyros of the World. Spicer and Pegler: Practical Book‐keeping. Luker: School Craftwork in Wood. Goff: Further Guide to Long Play. Clark: Royal Albert Hall. Graveney: Cricket Through the Covers. Swift: Collected Poems. Bolt: Flowering Cherry. Austen: The Watsons. Hobbs: Maps and Regions. Richie: Hampshire Coastways. Winch: Introducing Germany. Cooper: Rainbow Comes and Goes. Cope: Florence Nightingale and the Doctors. Hudson: Sir Joshua Reynolds. Pitt: Zeebrugge. Cowles: Phantom Major. Grinnell‐Milne: Silent Victory. Pollock: Jervis Bay. Then add on some half‐a‐dozen novels.
Joshua Buch, Kenneth L. Rhoda and James Talaga
Regulators in the UK and the USA recognize the need to assist borrowers that face a huge number of mortgage products with a multitude of fee combinations offered by a large number…
Abstract
Regulators in the UK and the USA recognize the need to assist borrowers that face a huge number of mortgage products with a multitude of fee combinations offered by a large number of lenders. For over 25 years they attempted to make the mortgage selection process more borrower‐friendly but, for many reasons, the efficacy of the chosen comparison tool, the Annual Percentage Rate (APR), is questionable. Because many consumers are either unwilling or unable to make price comparisons between mortgages based on the APR, we suggest replacing the APR with a new measure called the Annual Effective Rate (AER). The AER is based on the actual length of time the borrower expects to maintain the loan and the assumption that all up‐front loan costs are financed. In addition, we suggest that this comparison rate only be presented for true fixed‐rate loans and that all up‐front cost categories that are used in computing the AER be standardized.
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Allison Watkins, senior director of Merck's Vaccines Division, needed to decide on the pricing of Gardasil, Merck's newest vaccine and one of the company's most important product…
Abstract
Allison Watkins, senior director of Merck's Vaccines Division, needed to decide on the pricing of Gardasil, Merck's newest vaccine and one of the company's most important product launches of the year. The outside consulting firm she had hired to recommend a price for Gardasil had suggested a price of $120 per dose (or $360 per person, as each person required three doses over six months to achieve adequate immunity). The Gardasil marketing team disagreed about this recommended price; some thought it was clearly too high, whereas others said it was too low. The latter group argued that Merck would be missing a major opportunity by setting the price at such a low level. Watkins now needed to decide whether to follow the consulting firm's recommendation or to set a different price.
The case highlights the complexity and issues around pricing in the pharmaceutical industry. To decide on the price of Merck's new vaccine, students will work through product economics and be introduced to the role of economic modeling in determining appropriate prices in the biomedical industry. The case is unique because it gives students an opportunity to calculate a cost per quality adjusted life year (cost per QALY), and in the process discover the power and limitations of such an analysis.
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![Kellogg School of Management](/insight/static/img/kellogg-school-of-management-logo.png)
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Joshua Osah and Caroline Khene
This study aims to identify group structural elements that should be assessed in e-Government strategy formulation processes at local government level for service delivery in…
Abstract
Purpose
This study aims to identify group structural elements that should be assessed in e-Government strategy formulation processes at local government level for service delivery in South Africa. These elements influence the success or effectiveness of the strategy formulation process.
Design/methodology/approach
The theoretical framework of group structural elements by Asplund and nine other strategy formulation-related approaches are reflected upon. Weick’s approach of theory development is used to guide the theoretical analysis. A pragmatic approach is applied to conduct the empirical investigation using a case study of a digital citizen engagement project in South Africa.
Findings
The paper highlights the following group elements that influence the strategy formulation process: group member relations, degree of differentiation within the group and resources of the group. Not addressing these structural elements may result in a lack of creativity or a reluctance to participate in the context of public sector engagement.
Research limitations/implications
The paper does not provide an exhaustive list of all aspects that necessitate assessment before and during a strategy formulation process, for example, organisational and environment structural elements.
Practical implications
Assessing group structural elements provides valuable knowledge on how to engage stakeholders in a joint problem-solving activity. This is particularly pertinent where citizen engagement is fundamental to addressing basic service delivery concerns.
Originality/value
In the South African local municipal context, there is no existing literature that discusses the need to assess group structural elements influencing the outcome of an e-Government strategy formulation process.