bibliotek.dk is a development project, resulting in a Web site which gives the Danish citizens access to search and order material in the collections of Danish public and research…
Abstract
bibliotek.dk is a development project, resulting in a Web site which gives the Danish citizens access to search and order material in the collections of Danish public and research libraries via the Internet. This article deals with the use and the users’ view of the Web site.
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Discusses the management issues involved in library networking, using GILLDDNET, the DANIDA/IFLA sponsored Ghana Interlibrary Lending and Document Delivery Trial Project as a…
Abstract
Discusses the management issues involved in library networking, using GILLDDNET, the DANIDA/IFLA sponsored Ghana Interlibrary Lending and Document Delivery Trial Project as a reference point in the discussion. There is an attempt to apply the management principles that Urwick outlined decades ago in the Elements of Management to this project. The challenges and the successes of the project are discussed.
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Ali Amin, Rizwan Ali and Ramiz ur Rehman
The characteristics of businesses change with the change in ownership structure of the business. This study examines the change in ownership structure of the firm after the…
Abstract
Purpose
The characteristics of businesses change with the change in ownership structure of the business. This study examines the change in ownership structure of the firm after the departure of lone founders, and its influence on dividend payout decisions of the firm.
Design/methodology/approach
The authors employed 4,302 firm-year observations of non-financial firms listed on Pakistan Stock Exchange over the period 2007–2021. To test the hypotheses, the authors employed ordinary least squares regression, and additionally, generalized method of moments estimation and fixed effect analysis were applied to check for the robustness of results.
Findings
Using the lens of agency theory and social identity theory, the authors report that the presence of lone founder (family owners) is negatively (positively) associated with dividend payout, however, transition of lone-founder ownership to family-owned and family-managed firm leads to more dividend payout, whereas its transition to family-owned and non-family-managed firm results in lesser dividend payments.
Originality/value
This study provides novel insight into the strategic behavior of lone founders and extend the limited family business heterogeneity literature by examining the effects of ownership transition and its influence on firm's dividend payout decisions.
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Lorenzo Cappellari and Stephen P. Jenkins
We analyse the dynamics of social assistance benefit (SA) receipt among working-age adults in Britain between 1991 and 2005. The decline in the annual SA receipt rate was driven…
Abstract
We analyse the dynamics of social assistance benefit (SA) receipt among working-age adults in Britain between 1991 and 2005. The decline in the annual SA receipt rate was driven by a decline in the SA entry rate rather than by the SA exit rate (which also declined). We examine the determinants of these trends using a multivariate dynamic random effects probit model of SA receipt probabilities applied to British Household Panel Survey data. We show how the model may be used to derive year-by-year predictions of aggregate SA entry, exit and receipt rates. The analysis highlights the importance of the decline in the unemployment rate over the period and other changes in the socio-economic environment including two reforms to the income maintenance system in the 1990s and also illustrates the effects of self-selection (‘creaming’) on observed and unobserved characteristics.
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Ali Amin, Ramiz ur Rehman and Rizwan Ali
This study examines the effect of lone founder and family ownership on borrowing cost. In addition, the study examines the moderating influence of gender diversity on this…
Abstract
Purpose
This study examines the effect of lone founder and family ownership on borrowing cost. In addition, the study examines the moderating influence of gender diversity on this relationship.
Design/methodology/approach
The study used a sample of non-financial firms listed on Pakistan Stock Exchange over the period 2012–2021. The authors used ordinary least squares regression analysis method to test the hypotheses along with generalized method of moments estimation technique to control for unobserved heterogeneity, simultaneity and dynamic endogeneity.
Findings
The authors report that borrowing cost is higher in lone founder ownership, whereas borrowing cost is lower in family firms due to lesser risks attached to such firms by lenders. Further, the presence of female directors on the board weakens this relation in the case of lone founder ownership, whereas their presence further reduces borrowing cost in family-owned firms. Additionally, using the framework of critical mass theory, the authors found that higher number of female directors on boards reduces borrowing cost. Overall, this study’s results provide empirical support for social identity and critical mass theories in the sample firms.
Originality/value
The study provides novel evidence of the influence of lone founder and family ownership on borrowing cost in an emerging economy, as well as the moderating effects of gender diversity on this relationship.
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Within the vertical integration literature, it is a long standing proposition that the market level price of a downstream product is invariant with respect to the vertical…
Abstract
Within the vertical integration literature, it is a long standing proposition that the market level price of a downstream product is invariant with respect to the vertical integration and subsequent monopolization of that downstream industry by a lone input monopolist, given that the downstream production process is a fixed proportions technology and that there is competition in all related relevant industries. Consequently, it has been argued that the consumer welfare effects of permitting integration and monopolization by the upstream monopolist are inconsequential. It is also well known that this vertical integration and downstream monopolization will not result in either a greater or a lesser total profit for the lone input monopolist. Thus, it is also argued that there is no incentive for the monopolist to integrate into the downstream industry and monopolize it, given the presence of the fixed proportions technology.
Gustav From, Lone Mark Pedersen, Jette Hansen, Morten Christy, Thomas Gjørup, Niels Thorsgaard, Hans Perrild, Olaf Bonnevie and Anne Frølich
Evaluates care plans documented in two different ways, using controlled and randomised studies of consecutive acutely admitted medical patients. Within 24 hours after admission, a…
Abstract
Evaluates care plans documented in two different ways, using controlled and randomised studies of consecutive acutely admitted medical patients. Within 24 hours after admission, a care plan was made for the hospital stay, specifying active problems, a plan of action and a time‐schedule. In study 1, patients had care plans written directly into their medical records during the intervention period, while the normal admittance procedure was followed in the control period. In study 2, all patients had a care plan made on a planning form and in the medical record. Patients were randomised either to have the form stay in the medical record or to have it removed. Study 1 results showed that care plans were associated with earlier recognition of patients’ active problems, whereas the tendency to initiate solutions to active problems earlier was insignificant. Length of stay (LOS) and risk of readmission remained unchanged. In study 2, planning forms were associated with a 1.5‐day lower LOS and higher accuracy of planned LOS. Risk of readmission and accomplishment of plans of action were unaltered.
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The aim of this paper is to explore the family firms' propensity to undertake R&D investments after going public, showing how it varies due to the ownership structure.
Abstract
Purpose
The aim of this paper is to explore the family firms' propensity to undertake R&D investments after going public, showing how it varies due to the ownership structure.
Design/methodology/approach
The analysis is based on a sample of 132 French and Italian family and nonfamily IPOs in the period 2013–2018.
Findings
The empirical findings show a positive relationship between the quantity of post-IPO shares retained by family owners and R&D investments. Furthermore, the abovementioned relationship is negatively affected by the generational stage and positively by the presence of a lone founder.
Practical implications
Outside investors of family firms may be assured in buying shares of founding family firms after going public because they are stimulated to undertake R&D investments and therefore create overall value in the long term. Furthermore, external managers of lone-founder and first-generation family firms can adopt innovation investments without fear of being replaced as a consequence of a hostile takeover. Lastly, private equity should support later generation family IPOs, providing them with capital and managerial skills in order to generate value for shareholders.
Originality/value
Past studies have mostly shown family firms' reluctance to undertake R&D investments; however, scholars have focused on private or public family firms, ruling out the analysis of family firms' innovation behaviour within the setting of an IPO. To the best of the author's knowledge, this study represents the first empirical attempt to investigate the relationship between family firms and post-IPO innovation investments, when the capital infusion relaxes the financial constraints of family firms.