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Article
Publication date: 15 January 2018

Joung-Yol Lin, Munkh-Ulzii John Batmunkh, Massoud Moslehpour, Chuang-Yuang Lin and Ka-Man Lei

Since the 2008 financial crisis, the USA has three times implemented quantitative easing (QE) policy. The results of the policy, however, were far below all expectations…

891

Abstract

Purpose

Since the 2008 financial crisis, the USA has three times implemented quantitative easing (QE) policy. The results of the policy, however, were far below all expectations. Furthermore, it flooded emerging markets (EMs) with low-priced dollars. The purpose of this paper is to investigate the overall and individual impacts of the policy on EMs.

Design/methodology/approach

This study uses panel data regression model together with the fixed effects model. Also, a unit root test is conducted to check stationary properties of the data, as well as Durbin-Watson statistic to check serial correlation issues in the models. In estimating empirical models, this paper employs macroeconomic data set of stock market returns, exchange rates, lending interest rates, consumer price index, monetary aggregates and foreign exchange reserves from seven diversified emerging economies. The EMs in this study include China, Indonesia, Singapore, Hong Kong, Taiwan, Russia and Brazil. The time period undertaken in this study is from 2008 to 2012. In order to measure impacts of the different stages of the policy, the authors use dummy variables to represent each stage of the policy.

Findings

The results of the study show that the QE policy has significant impacts on foreign exchange reserves, foreign exchange markets and stock markets of the sample economies. Domestic credit markets, however, appear to be least influenced field by the policy. Finally, the results show that only the first stage of the policy exhibits strong significant impacts, however, leverage of the policy decreases over time.

Research limitations/implications

Further studies may use different samples, also variables that measure foreign capital inflows such as changes in financial accounts, foreign direct investment and foreign portfolio investment.

Originality/value

The present study has the following contributions on assessing the impacts of QE policy. First, the overall and individual impacts of the policy are analyzed. Second, in order to establish more valid results, the sample of this study is designed to include several EMs from three continents and diverse regions.

Details

International Journal of Emerging Markets, vol. 13 no. 1
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 1 February 1999

Malcolm Foley, Gill Maxwell and David McGillivray

Explores the changing relationship between work and leisure with particular reference to women’s equality in economic and other activities through a review of the history of…

1214

Abstract

Explores the changing relationship between work and leisure with particular reference to women’s equality in economic and other activities through a review of the history of leisure opportunities since the industrial revolution; indicates the ways in which social and economic changes have had a major impact on women’s leisure needs and activities. Focuses in particular on the provision of workplace fitness facilities, undertaking a survey of more than 200 companies across a number of industry sectors (the rationale for selection is outlined here) to discover the reasons behind such provision and the actual facilities provided; identifies the reasons behind provision as primarily commercial (e.g. being seen as an additional benefit to help recruit high quality employees) and notes that assessment of user group needs was not carried out, with the result that women’s particular needs tended not to be taken into account, for example gyms (favoured by men) being more widely provided than space for aerobic exercise (favoured by women). Concludes that the findings strongly suggest that women remain unequal in their leisure as well as working lives.

Details

Equal Opportunities International, vol. 18 no. 1
Type: Research Article
ISSN: 0261-0159

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Article
Publication date: 1 September 2004

Matthew Valle

Although the data concerning the causes, and more importantly, the magnitude, of the gender‐wage gap arerelatively clear from empirical research in economics and business…

420

Abstract

Although the data concerning the causes, and more importantly, the magnitude, of the gender‐wage gap arerelatively clear from empirical research in economics and business, significant misconceptions still exist. It is a general belief that a woman will earn significantly less for doing the same work as a man, 75 cents as compared to a man’s dollar. Following a review of the empirical literature describing the causes and magnitude of the gender‐wage gap, an exploration of the portrayal of the gender‐wage gap in management texts seeks to understand how this issue is explained to a student audience. Finally, the managerial implications concerning compensation management in organisations are discussed.

Details

Equal Opportunities International, vol. 23 no. 6
Type: Research Article
ISSN: 0261-0159

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Article
Publication date: 16 November 2015

Dong-Hua Wang, Nan Qing, Man Lei and Xiaohui Chang

The purpose of this paper is to identify the bull and bear regimes in Chinese stock market and empirically analyze the dynamic relation of Chinese stock price-volume pre- and…

338

Abstract

Purpose

The purpose of this paper is to identify the bull and bear regimes in Chinese stock market and empirically analyze the dynamic relation of Chinese stock price-volume pre- and post- the Split Share Structure Reform.

Design/methodology/approach

The authors investigate the price-volume relationship in the Chinese stock market before and after the Split Share Structure Reform using Shanghai Composite Index daily data from July 1994 to April 2013. Using a two-state Markov-switching autoregressive model and a modified two-state Markov-switching vector autoregression model, this study identifies bull or bear market and also examine the existence of regime-dependent Granger causality.

Findings

Using a two-state Markov-switching autoregressive model, the authors detect structural changes in the market volatility due to the reform, and find evidence of a positive rather than an asymmetric price-volume contemporaneous correlation. There is a strong dynamic Granger causal relation from stock returns to trading volume before and after the reform regardless of the market conditions, but the causal effects of volume on returns are only seen in the bear markets before the reform. The model is robust when using different stock indices and time periods.

Originality/value

The work is different from previous studies in the following aspects: most of the existing empirical literature focus on the well-developed economies, but our interest lies in the emerging Chinese market that has witnessed rapid growth in the past decade; in contrast to many works in the literature that examine the price-volume relationship during one market condition, the authors compare the relationship in a bull market with that in a bear market, using a two-state MS-AR model; the authors also employ a modified two-state Markov-switching vector autoregression model to examine the existence of regime-dependent Granger causality; as the most massive systematic reform for the Chinese stock market since its inception in 2005, the Split Share Structure Reform has a profound impact on the Chinese stock market, thus it is of vital importance to explore its effects on both the price-volume relationship and the market structure.

Details

China Finance Review International, vol. 5 no. 4
Type: Research Article
ISSN: 2044-1398

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Article
Publication date: 5 May 2015

Lixin Huang

This paper aims to analyze their generation mechanism and factors influencing burr generation. The final goal is to use appropriate drill design and drilling process to control…

245

Abstract

Purpose

This paper aims to analyze their generation mechanism and factors influencing burr generation. The final goal is to use appropriate drill design and drilling process to control the generation of burrs.

Design/methodology/approach

The mechanism of burr generation was studied through finite element method (FEM) simulation and drilling experiments. High-speed photography technology and scanning electron microscope (SEM) were used in this study.

Findings

High-speed drilling burr is a printed circuit board (PCB) copper foil burr. Within a certain range, the feed speed and burr height is in positive correlation, and decrease in the feeding speed will favor the exit burr. Drill angle influences burr and chisel edge affect significantly, followed by the point angle, and helical angle has little effect. From the perspective of reducing the burr, a smaller chisel edge and smaller point angle should be chosen. Grinding chisel edge is another choice to decrease the burr but also ensures the blade strength.

Originality/value

This paper investigates the mechanism of burr generation of PCB fixture hole drilling. The process of burr generation was captured by high-speed camera. The controlling methods of burr generation were illustrated at the end.

Details

Circuit World, vol. 41 no. 2
Type: Research Article
ISSN: 0305-6120

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Article
Publication date: 1 April 1949

Pd. Dr. K. Krapf

Es mag vorerst seltsam und gewagt erscheinen, den Fremdenverkehr als Freizeitangelegenheit oder — um es in der Sprache der nachkriegszeitlichen Austeritypolitik zu sagen — als…

34

Abstract

Es mag vorerst seltsam und gewagt erscheinen, den Fremdenverkehr als Freizeitangelegenheit oder — um es in der Sprache der nachkriegszeitlichen Austeritypolitik zu sagen — als “entbehrliches Raffinement” mit dem europäischen Wiederaufbau in Beziehung zu bringen. Was kann Wiederaufbau mit Fremdenverkehr zu tun haben ? Stellen diese beiden Tätigkeiten nicht begriffliche Gegensätze dar, da Wiederaufbau doch Arbeit, strenge, harte, entbehrungsreiche Arbeit voraussetzt und Fremdenverkehr die Antithese dazu bildet, zum Ausruhen, Geniessen, Faulenzen führt ?

Details

The Tourist Review, vol. 4 no. 4
Type: Research Article
ISSN: 0251-3102

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Article
Publication date: 28 June 2013

He‐Chun Wang, Jing‐Qin Su, Hui‐Ling Cao and Sai‐Nan Sun

In China the maturity of the industrial development has the demonstration and reference implications for how to achieve enterprises competitiveness among the developing industries…

862

Abstract

Purpose

In China the maturity of the industrial development has the demonstration and reference implications for how to achieve enterprises competitiveness among the developing industries in a country. With the development of globalization, how to improve the enterprises competitiveness has became a serious problem to be solved for Chinese enterprises. The management innovation is reasonable and appropriate to solve this problem. Compared with the independent innovation, adoptive management innovation has become the main way for enterprises to fulfill the management innovation and change the management styles under the open economy condition. The research strives to reveal the “black box” in the management innovation adoptive process and give an answer to a series of questions, such as “what is the role of entrepreneurs in management innovation adoptive process?”

Design/methodology/approach

Exploratory case study approach is taken to find the entrepreneurs' role in management innovation adoptive process of Chinese traditional industry.

Findings

This paper constructs the adoptive management innovation model from three dimensions, using exploratory case technique, which explores the key factors and mechanism of realizing management innovation adoption. Through the exploratory case analysis to verify the viewpoint which is proposed by the model: entrepreneurs played a leading role in the adoptive management innovation of non‐procedural process, and the role is the result of the mixed function of the external and internal environment. Entrepreneurs analyze and explore the new problems and opportunities, and their own experience and ability determine the cognition and explore degree towards these problems directly; entrepreneurs' integration ability of resources can be approved and accepted after the new practice has been proposed and become mature. Entrepreneur long‐term shaping on organizational resources determines whether the management innovations introduction would be really integrated into enterprise management system. The entrepreneur's typical behavior on “integration, learning and shaping” is the foundation and guarantee of adoptive management innovation, which have connective effect on adjacent stages.

Originality/value

The article describes Haier BPR process of adoptive management innovation and the adoptive management innovation mode, and analyzes the effect of entrepreneurs' role on adoptive management innovation of China's color TV industry. The Chinese color TV industry as the maturity industry has the demonstration and reference implications for how to achieve enterprises competitiveness in Chinese developing industries.

Details

Journal of Knowledge-based Innovation in China, vol. 5 no. 2
Type: Research Article
ISSN: 1756-1418

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Article
Publication date: 1 March 1948

A. Bernhard

In Europa und in Amerika zeigten sich ungefähr zur gleichen Zeit Bestrebungen, der Hotelbuchführung einheitliche und systematisch aufgebaute Kontenpläne zugrunde zu legen. In den…

35

Abstract

In Europa und in Amerika zeigten sich ungefähr zur gleichen Zeit Bestrebungen, der Hotelbuchführung einheitliche und systematisch aufgebaute Kontenpläne zugrunde zu legen. In den USA war es die Hotel Association of New York City, die 1925/26 einen ersten Entwurf eines Kontenplanes ausarbeiten liess. Unabhängig davon schrieb in Deutschland J. Stehle an seinem Werk “Organisation und Technik der Hotel‐Buchhaltung”, das 1925 erschienen ist. Während das in den USA entwickelte Uniform System of Accounts for Hotels bis heute keine grundsätzlichen Änderungen mehr erfahren hat, folgten in Europa auf Stehle — parallel mit der allgemeinen Fortbildung des Rechnungswesens und der Betriebswirtschaftslehre — mehrere neue Vorschläge für den Aufbau der Hotelbuchführung. Zu erwähnen sind namentlich die deutschen Pflichtkontenrahmen für die Hotellerie und das Gastgewerbe und der 1945 erschienene Normal‐Kontenplan der schweizerischen Hotellerie. In der Schweiz hat diese Entwicklung ihren vorläufigen Abschluss gefunden mit dem durch die Betriebswirtschaftliche Abteilung des Forschungsinstitutes für Fremdenverkehr an der Universität Bern entworfenen Kontenplan für die Hotelunternehmung (Vgl. Walther/Kunz, Hotel‐Rechnungswesen nach betriebswirtschaftlichen Grundsätzen, Bern 1947. Hier zitiert als Kontenplan des FIF).

Details

The Tourist Review, vol. 3 no. 3
Type: Research Article
ISSN: 0251-3102

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Article
Publication date: 3 March 2022

Raysa Geaquinto Rocha, Florian Kragulj and Paulo Pinheiro

This paper aims to stress the importance of practical wisdom (phronesis) for the knowledge management field. It is a relevant intellectual and ethical resource for responding to…

789

Abstract

Purpose

This paper aims to stress the importance of practical wisdom (phronesis) for the knowledge management field. It is a relevant intellectual and ethical resource for responding to recent changes in the business environment and for responsibly and sustainably aligning organizations for the future. Organizations must find ways to reconcile social, environmental and economic goals and meet different and conflicting stakeholder needs. To this end, the authors challenge knowledge management researchers to feature practical wisdom as an enabler for responsible knowledge management built on solid ethical foundations.

Design/methodology/approach

The authors introduce the concept of phronesis, reaching from Aristotle’s The Nicomachean Ethics to Nonaka and Takeuchi’s The Wise Company. Based on a systematic review of the literature, the authors performed a bibliometric analysis. Moreover, the authors discuss the findings and offer avenues for future research.

Findings

The results provide an overview of the research on phronesis in the knowledge management field. It points out the leading articles and journals (e.g. Journal of Business Ethics and Journal of Knowledge Management). Likewise, it identifies thematic areas, i.e. knowledge management field, knowledge dynamics, organizational wisdom, leadership and followership, corporate social responsibility and red flags.

Originality/value

In this essay, the authors advise practical wisdom as a promising candidate for advancing the field of knowledge management towards responsible knowledge management. To pursue this, the authors propose to address instability and continuous change through practical wisdom and outline a research agenda to guide further research.

Details

VINE Journal of Information and Knowledge Management Systems, vol. 52 no. 3
Type: Research Article
ISSN: 2059-5891

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Article
Publication date: 4 June 2018

Ralph Bathurst and Chris Galloway

This paper aims to explore invitational discourse as a modality underpinning socially responsible enterprises seeking to become spiritually alert. This is carried out by focussing…

376

Abstract

Purpose

This paper aims to explore invitational discourse as a modality underpinning socially responsible enterprises seeking to become spiritually alert. This is carried out by focussing on a rich symbolic environment within which organizations operate.

Design/methodology/approach

This conceptual paper explores a fifteenth-century icon from the Russian Orthodox tradition to demonstrate how organizations might move from silo-based communication strategies to create open environments where information is shared. A case study of the global organization in crisis, the dairy cooperative Fonterra, is used as a case study.

Findings

Where organizations become invitational and go beyond blame to develop the two fundamental ethical qualities of forgiveness and generosity, they become more socially responsible.

Originality/value

The study takes a well-known artefact within one tradition and appropriates for a discussion about contemporary organizations as they seek to become more holistic and spiritually alert.

Details

Social Responsibility Journal, vol. 14 no. 2
Type: Research Article
ISSN: 1747-1117

Keywords

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