James M. Forjan and Michael S. McCorry
In this paper, the link between stock distribution announcements and capital markets is examined. The results show that stock split announcements result in higher share prices and…
Abstract
In this paper, the link between stock distribution announcements and capital markets is examined. The results show that stock split announcements result in higher share prices and narrower percentage bid‐ask spreads, while stock dividend announcements have little effect on either prices or percentage spreads.
Christine T. Domegan, Tina Flaherty, John McNamara, David Murphy, Jonathan Derham, Mark McCorry, Suzanne Nally, Maurice Eakin, Dmitry Brychkov, Rebecca Doyle, Arthur Devine, Eva Greene, Joseph McKenna, Finola OMahony and Tadgh O'Mahony
To combat climate change, protect biodiversity, maintain water quality, facilitate a just transition for workers and engage citizens and communities, a diversity of stakeholders…
Abstract
Purpose
To combat climate change, protect biodiversity, maintain water quality, facilitate a just transition for workers and engage citizens and communities, a diversity of stakeholders across multiple levels work together and collaborate to co-create mutually beneficial solutions. This paper aims to illustrate how a 7.5-year collaboration between local communities, researchers, academics, companies, state agencies and policymakers is contributing to the reframing of industrial harvested peatlands to regenerative ecosystems and carbon sinks with impacts on ecological, economic, social and cultural systems.
Design/methodology/approach
The European Union LIFE Integrated Project, Peatlands and People, responding to Ireland’s Climate Action Plan, represents Europe’s largest rehabilitation of industrially harvested peatlands. It makes extensive use of marketing research for reframing strategies and actions by partners, collaborators and communities in the evolving context of a just transition to a carbon-neutral future.
Findings
The results highlight the ecological, economic, social and cultural reframing of peatlands from fossil fuel and waste lands to regenerative ecosystems bursting with biodiversity and climate solution opportunities. Reframing impacts requires muddling through the ebbs and flows of planned, possible and unanticipated change that can deliver benefits for peatlands and people over time.
Research limitations/implications
At 3 of 7.5 years into a project, the authors are muddling through how ecological reframing impacts economic and social/cultural reframing. Further impacts, planned and unplanned, can be expected.
Practical implications
This paper shows how an impact planning canvas tool and impact taxonomy can be applied for social and systems change. The tools can be used throughout a project to understand, respond to and manage for unplanned events. There is constant learning, constantly going back to the impact planning canvas and checking where we are, what is needed. There is action and reaction to each other and to the diversity of stakeholders affected and being affected by the reframing work.
Originality/value
This paper considers how systemic change through ecological, economic, social and cultural reframing is a perfectly imperfect process of muddling through which holds the promise of environmental, economic, technological, political, social and educational impacts to benefit nature, individuals, communities, organisations and society.
Details
Keywords
WHETHER the political pendulum is to swing in the direction of the Right or not in the coming year we do not know. Local electors are not the only key to national ones whatever…
Abstract
WHETHER the political pendulum is to swing in the direction of the Right or not in the coming year we do not know. Local electors are not the only key to national ones whatever politicians may argue. That there will be a move towards that direction is probable as our people tire of the monotonies of any government. Any change will not affect libraries greatly at present as the world problems are too pressing to allow any practical discussion of domestic ones. Our only fear is that “economy” may become a cry, which means, of course, the lopping of things which are educational, cultural and otherwise not money‐making and it is only too probable that public libraries and indeed other libraries might suffer from the modern equivalent of the Geddes axe which some are hopefully expecting. On the other hand the strength of the organizations which control wages from below is such that the disastrous “cuts” of the first Geddes experiment are not likely to be repeated. And on wages the whole of our financial tructure rests. Moreover libraries have now assumed the right to exist in adequate condition and to displace them may not be so easy as it was thirty years ago; but, nevertheless on vigilance our safety still depends. The conditions are not likely at present to be propitious to any real advance. The much‐desired new Library Bill is being drafted—and should be—but its hearing does not seem imminent; the chances of building new libraries are bleak, and even repairs are to some librarians a nightmare. Confronting all these conditions is the greatly increased use of libraries which is reflected in every kind of public, university, national and commercial library. This strengthens faith in the future in spite of the immediate prospect.
James Forjan and Bonnie Van Ness
Poison pill securities can be used to deter takeover activity by making the acquisition cost prohibitive or to increase bargaining power of target firms. Poison pills, which are…
Abstract
Poison pill securities can be used to deter takeover activity by making the acquisition cost prohibitive or to increase bargaining power of target firms. Poison pills, which are also known as shareholder rights plans, are typically used in conjunction with other takeover defense mechanisms, such as anti‐takeover charter amendments or dual classes of stock. This study examines the role that debt plays as an anti‐takeover strategy in the presence of poison pills. The results show that, on average, capital markets have little reaction to poison pill announcements. A regression equation, however, shows that announcement period abnormal returns are positively related to leverage ratios. This paper provides empirical evidence that the capital structure of firms plays an important role in the perceived strength of poison pills.