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Article
Publication date: 1 April 2014

Mimi Lord

The paper aims to help explain how certain smaller university endowments are able to provide investment results that are more typical of much larger endowments. Investment teams'…

920

Abstract

Purpose

The paper aims to help explain how certain smaller university endowments are able to provide investment results that are more typical of much larger endowments. Investment teams' characteristics and risk-reward perceptions are examined in relation to portfolio composition and performance.

Design/methodology/approach

This exploratory study uses a grounded-theory approach consisting of 20 in-depth interviews of financial officers at US colleges and universities with assets between $100 million and $200 million. Ten were conducted from the top performance quartile and ten from the bottom quartile. Interviews were transcribed and coded; afterward, emerging themes and constructs were identified. Objective investment performance over a ten-year period was employed from a well-known industry survey.

Findings

Top-performing endowments were described as having endowment teams with greater investment expertise, efficacy, decision-making independence and learning commitment than teams from the low-performing endowments. Teams from top-performing endowments assessed alternative investments more favorably and made greater portfolio allocations to them as compared to teams from low-performing endowments.

Research limitations/implications

Because of the chosen research approach, the research results may not be generalizable.

Practical implications

The paper includes implications for colleges and universities in the management of their endowments, and particularly in the selection of committee and other team members.

Originality/value

The paper is original in exploring certain team characteristics and practices of institutional investment decision-makers and their relationship to portfolio composition and performance.

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Article
Publication date: 1 April 2014

Bruce M. Burton

89

Abstract

Details

Qualitative Research in Financial Markets, vol. 6 no. 1
Type: Research Article
ISSN: 1755-4179

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Article
Publication date: 15 November 2021

Ray Yep

This paper aims to uncover the trajectory of the anti-corruption effort of the Hong Kong colonial Government by identifying its general approach of denial in the pre-War years. It…

131

Abstract

Purpose

This paper aims to uncover the trajectory of the anti-corruption effort of the Hong Kong colonial Government by identifying its general approach of denial in the pre-War years. It highlights the path-dependence nature, as well as the path-creation logic of the policy process of anti-corruption reform and the anxiety of the colonial administration in maintaining trust of the local population in the post-War years. These insights should enhance the general understanding of the nature of colonial governance.

Design/methodology/approach

This paper is primarily based on archival materials available at the British National Archives and Hong Kong Public Records Office.

Findings

The paper intends to go before the “Great Man narrative” in explaining the success of the anti-corruption effort in colonial Hong Kong. Whilst the colonial government was fully aware of the endemic of corruption and the substantial involvement of European officers, she was still cocooned with the misguided belief that the core of the administration was mostly “incorruptible”. The Air Raid Precaution Department scandal in 1941 was, however, a powerful wake-up that rendered the denial and self-illusion no longer defensible. The policy ideas of the 1940s did shape the Prevention of Corruption Ordinance 1948 and other related reforms, yet they were not immediately translated into fundamental changes in the institutional set-up of the anti-graft campaign. The limitations of these half-hearted measures were fully exposed in the coming decades. The cumulative effects of the piecemeal anti-graft efforts of the colonial government over the first century of rule, however, did path the way for the “revolutionary” changes in the 1970s under Murray MacLehose.

Originality/value

This is a highly original piece based on under-explored archival materials. The findings should have a major contribution to the scholarship on the nature of colonial governance and the history of anti-corruption efforts of Hong Kong.

Details

Social Transformations in Chinese Societies, vol. 18 no. 2
Type: Research Article
ISSN: 1871-2673

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Article
Publication date: 1 August 1951

IN an article in The Economist for February 17th, entitled “Facts about Fiction,” the writer refers to “this useful but unobtrusive social service” (the public libraries) and the…

27

Abstract

IN an article in The Economist for February 17th, entitled “Facts about Fiction,” the writer refers to “this useful but unobtrusive social service” (the public libraries) and the unaccustomed limelight in which they were bathed by the Centenary. The adjectives, congenial as they are and, indeed, as is the tone of the whole article, merit further examination; but the main subject discussed is the library which lends books for money profit. It may be that there will never be a condition of affairs in which the supply of fiction—however it is given—will not be called into question. It is, we are convinced, desirable that it should be reviewed from time to time by the public librarian. It is hoped that this number may be a useful instance. The writer, we notice, has memories of libraries which were “jolted” out of the cast‐iron system of the indicator method of issue by the increase of reading between the two wars. We know that this freedom was won before the first world war. The other point that concerns us is the assertion that a general opinion of light reading in public libraries is based on a wrong view. “In even the biggest and most liberally provided public libraries the addict of one class of novel—be it ‘typist‐marries‐boss’ or ‘riding the range’—can only find enough of them to whet his appetite”; he must soon turn to a circulating library. We think it is probable, on reflection, that most librarians would agree.

Details

New Library World, vol. 53 no. 8
Type: Research Article
ISSN: 0307-4803

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Article
Publication date: 16 October 2017

Rotimi Boluwatife Abidoye and Albert P.C. Chan

The predictive accuracy and reliability of artificial intelligence models, such as the artificial neural network (ANN), has led to its application in property valuation studies…

2416

Abstract

Purpose

The predictive accuracy and reliability of artificial intelligence models, such as the artificial neural network (ANN), has led to its application in property valuation studies. However, a large percentage of such previous studies have focused on the property markets in developed economies, and at the same time, effort has not been put into documenting its research trend in the real estate domain. The purpose of this paper is to critically review the studies that adopted ANN for property valuation in order to present an application guide for researchers and practitioners, and also establish the trend in this research area.

Design/methodology/approach

Relevant articles were retrieved from online databases and search engines and were systematically analyzed. First, the background, the construction and the strengths and weaknesses of the technique were highlighted. In addition, the trend in this research area was established in terms of the country of origin of the articles, the year of publication, the affiliations of the authors, the sample size of the data, the number of the variables used to develop the models, the training and testing ratio, the model architecture and the software used to develop the models.

Findings

The analysis of the retrieved articles shows that the first study that applied ANN in property valuation was published in 1991. Thereafter, the technique received more attention from 2000. While a quarter of the articles reviewed emanated from the USA, the rest were conducted in mostly developed countries. Most of the studies were conducted by universities scholars, while very few industry practitioners participated in the research works. Also, the predictive accuracy of the ANN technique was reported in most of the papers reviewed, but a few reported otherwise.

Research limitations/implications

The articles that are not indexed in the search engines and databases searched and also not available in the public domain might not have been captured in this study.

Practical implications

The findings of this study reveal a gap between the valuation practice in developed and developing property markets and also the contributions of real estate practitioners and universities scholars to real estate research. A paradigm shift in the valuation practice in developing nations could lead to achieving a sustainable international valuation practice.

Originality/value

This paper presents the trend in this research area that could be useful to real estate researchers and practitioners in different property markets around the world. The findings of this study could also encourage collaboration between industry professionals and researchers domiciled in both developed and developing countries.

Details

Property Management, vol. 35 no. 5
Type: Research Article
ISSN: 0263-7472

Keywords

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Article
Publication date: 1 April 1997

Benny S. Tabalujan

In recent times, there has been some disquiet within certain sectors of the Singapore business community over the role of auditors in detecting corporate fraud. The cause of this…

383

Abstract

In recent times, there has been some disquiet within certain sectors of the Singapore business community over the role of auditors in detecting corporate fraud. The cause of this concern can perhaps be attributed partly to the Barings collapse in February 1995 and the subsequent suggestions that the auditors of the Barings subsidiary in Singapore, Barings Futures Singapore Pte Ltd (BFS), may have been negligent in their audit work. More recently, in mid‐1996, a substantial locally listed company, Amcol Holdings Ltd (Amcol), was placed under judicial management amid rumours alleging possible misdeeds by senior executives and directors. The Amcol saga has, once again, focused some attention on the role of auditors and their duty to detect fraud in company accounts.

Details

Journal of Financial Crime, vol. 5 no. 2
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 1 March 1994

Susan J. Barnes

The Albert R. Mann Library at Cornell University has created a working electronic library and has made significant changes in services and staff responsibilities to address users'…

249

Abstract

The Albert R. Mann Library at Cornell University has created a working electronic library and has made significant changes in services and staff responsibilities to address users' evolving needs. This article presents an overview of these changes, after discussing the development of electronic libraries at Mann and elsewhere. The increased usage that Mann's collections have received as the electronic library has been developed is also described.

Details

Library Hi Tech, vol. 12 no. 3
Type: Research Article
ISSN: 0737-8831

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Book part
Publication date: 28 September 2020

Matthew Willcox

Abstract

Details

The Business of Choice: How Human Instinct Influences Everyone’s Decisions
Type: Book
ISBN: 978-1-83982-071-7

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