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Article
Publication date: 1 May 1988

G.D.I. Barr and R.C. van den Honert

In his article “Diversifying Mergers and Risk: Some Empirical Tests”, Thompson (1983) modelled the change in the systematic risk of the acquiring firm before and after merger. We…

235

Abstract

In his article “Diversifying Mergers and Risk: Some Empirical Tests”, Thompson (1983) modelled the change in the systematic risk of the acquiring firm before and after merger. We propose a modification to this method which considers the difference between the systematic risk of the merged firm and that predicted by capital market theory on the basis of the constituent firms' betas. Furthermore merger will probably lead to a change in the structure of the acquiring firm, both intrinsically and financially. Thus in order to remove any complications caused by debt restructuring of the combined firm after merger, we suggest that the analysis is carried out using ungeared or intrinsic betas. An empirical study which follows that of Thompson but implements the above modifications is performed, and conclusions are drawn which have implications for studies that have considered the benefits of merger to the acquiring and target firms.

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Journal of Economic Studies, vol. 15 no. 5
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 11 September 2017

Rudolf Espada, Armando Apan and Kevin McDougall

The purpose of this paper was to develop an integrated framework for assessing the flood risk and climate adaptation capacity of an urban area and its critical infrastructures to…

1484

Abstract

Purpose

The purpose of this paper was to develop an integrated framework for assessing the flood risk and climate adaptation capacity of an urban area and its critical infrastructures to help address flood risk management issues and identify climate adaptation strategies.

Design/methodology/approach

Using the January 2011 flood in the core suburbs of Brisbane City, Queensland, Australia, various spatial analytical tools (i.e. digital elevation modeling and urban morphological characterization with 3D analysis, spatial analysis with fuzzy logic, proximity analysis, line statistics, quadrat analysis, collect events analysis, spatial autocorrelation techniques with global Moran’s I and local Moran’s I, inverse distance weight method, and hot spot analysis) were implemented to transform and standardize hazard, vulnerability, and exposure indicating variables. The issue on the sufficiency of indicating variables was addressed using the topological cluster analysis of a two-dimension self-organizing neural network (SONN) structured with 100 neurons and trained by 200 epochs. Furthermore, the suitability of flood risk modeling was addressed by aggregating the indicating variables with weighted overlay and modified fuzzy gamma overlay operations using the Bayesian joint conditional probability weights. Variable weights were assigned to address the limitations of normative (equal weights) and deductive (expert judgment) approaches. Applying geographic information system (GIS) and appropriate equations, the flood risk and climate adaptation capacity indices of the study area were calculated and corresponding maps were generated.

Findings

The analyses showed that on the average, 36 (approximately 813 ha) and 14 per cent (approximately 316 ha) of the study area were exposed to very high flood risk and low adaptation capacity, respectively. In total, 93 per cent of the study area revealed negative adaptation capacity metrics (i.e. minimum of −23 to <0), which implies that the socio-economic resources in the area are not enough to increase climate resilience of the urban community (i.e. Brisbane City) and its critical infrastructures.

Research limitations/implications

While the framework in this study was obtained through a robust approach, the following are the research limitations and recommended for further examination: analyzing and incorporating the impacts of economic growth; population growth; technological advancement; climate and environmental disturbances; and climate change; and applying the framework in assessing the risks to natural environments such as in agricultural areas, forest protection and production areas, biodiversity conservation areas, natural heritage sites, watersheds or river basins, parks and recreation areas, coastal regions, etc.

Practical implications

This study provides a tool for high level analyses and identifies adaptation strategies to enable urban communities and critical infrastructure industries to better prepare and mitigate future flood events. The disaster risk reduction measures and climate adaptation strategies to increase urban community and critical infrastructure resilience were identified in this study. These include mitigation on areas of low flood risk or very high climate adaptation capacity; mitigation to preparedness on areas of moderate flood risk and high climate adaptation capacity; mitigation to response on areas of high flood risk and moderate climate adaptation capacity; and mitigation to recovery on areas of very high flood risk and low climate adaptation capacity. The implications of integrating disaster risk reduction and climate adaptation strategies were further examined.

Originality/value

The newly developed spatially explicit analytical technique, identified in this study as the Flood Risk-Adaptation Capacity Index-Adaptation Strategies (FRACIAS) Linkage/Integrated Model, allows the integration of flood risk and climate adaptation assessments which had been treated separately in the past. By applying the FRACIAS linkage/integrated model in the context of flood risk and climate adaptation capacity assessments, the authors established a framework for enhancing measures and adaptation strategies to increase urban community and critical infrastructure resilience to flood risk and climate-related events.

Details

International Journal of Disaster Resilience in the Built Environment, vol. 8 no. 4
Type: Research Article
ISSN: 1759-5908

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Article
Publication date: 30 August 2011

Madjid Tavana, Amir Karbassi Yazdi, Mehran Shiri and Jack Rappaport

This paper aims to propose a new benchmarking framework that uses a series of existing intuitive and analytical methods to systematically capture both objective data and…

1081

Abstract

Purpose

This paper aims to propose a new benchmarking framework that uses a series of existing intuitive and analytical methods to systematically capture both objective data and subjective beliefs and preferences from a group of decision makers (DMs).

Design/methodology/approach

The proposed framework combines the excellence model developed by the European Foundation for Quality Management with the Rembrandt method, the entropy concept, the weighted‐sum approach, and the theory of the displaced ideal. Hard data and personal judgments are synthesized to evaluate a set of business units (BUs) with two overall performance scores plotted in a four quadrant model.

Findings

The two performance scores are used to benchmark the performance of the BUs in accordance with their Euclidean distance from the “ideal” BU. Quadrants are used to classify the BUs as efficacious, productive ineffectual, proficient unproductive, and inefficacious. The efficacious BUs, referred to as “excellent”, fall in the competency zone and have the shortest Euclidean distance from the ideal BU relative to their peers.

Originality/value

The benchmarking framework presented in this study has some obvious attractive features. First, the generic nature of the framework allows for the subjective and objective evaluation of a finite number of BUs by a group of DMs. Second, the information requirements of the framework are stratified hierarchically allowing DMs to focus on a small area of the large problem. Third, the framework does not dispel subjectivity; it calibrates the subjective weights with the objective weights determined through the entropy concept.

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Article
Publication date: 7 October 2014

Karen A. Jehn and Pirathat Techakesari

The aim of this paper is to present a framework that can be used to identify detrimental team processes in high reliability teams (HRTs), such as conflict, asymmetric perceptions…

1642

Abstract

Purpose

The aim of this paper is to present a framework that can be used to identify detrimental team processes in high reliability teams (HRTs), such as conflict, asymmetric perceptions and stress and coping appraisals, and develop interventions that eliminate these detrimental team processes. In addition, this paper suggests new directions for future disaster management and conflict research.

Design/methodology/approach

This framework is developed based on past theories (i.e. Intragroup Conflict Theory and Biopsychosocial Model of arousal regulation) and their associated empirical studies.

Findings

The present article brings a multi-method, multi-level approach to examine the prevalence of detrimental team processes in HRTs, their impact on performance and stress-related health outcomes and how they can be prevented or managed.

Originality/value

This paper provides a novel conceptual framework that highlights the importance of considering human factors and team processes in improving the response speed, accuracy and efficiency of high reliability team members and ensuring the health and well-being of both responders and recipients of care.

Details

International Journal of Conflict Management, vol. 25 no. 4
Type: Research Article
ISSN: 1044-4068

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Article
Publication date: 13 July 2020

Oluseye Adewale Adebimpe, David G. Proverbs and Victor Oluwasina Oladokun

Recent changes in climate, rainfall patterns, snow melt and rising sea levels coupled with an increase in urban development have increased the threat of flooding. To curb these…

378

Abstract

Purpose

Recent changes in climate, rainfall patterns, snow melt and rising sea levels coupled with an increase in urban development have increased the threat of flooding. To curb these threats and mitigate these damages, property-level approaches to improving resilience are now being encouraged as part of an integrated approach to flood risk management. This raises questions such as, what are the flood resilient attributes within individual properties, what is their importance and how can these be quantified. This research sought to develop a quantitative approach for the measurement of property-level flood resilience.

Design/methodology/approach

A synthesis of literature was undertaken to establish the main resilient attributes and their relevant sub-attributes. This process led to the development of a new method, named the Composite Flood Resilient Index (CFRI) to weight the attributes and sub-attributes of flood resilience based on their importance. The approach adopts the use of the fuzzy-analytic hierarchy process (F-AHP) approach to quantify flood resilience.

Findings

The implications of the proposed methodology in determining the flood resilience of individual property, including the potential use in retrofitting activities, and the benefits to a range of stakeholders are considered.

Social implications

The methodology offers the potential to support the measurement of flood resilience of individual properties, allowing the identification and prioritisation of specific interventions to improve the resilience of a property.

Originality/value

Whereas previous attempts to quantify flood resilience have adopted qualitative approaches with some level of subjectivity, this proposed methodology represents an important advancement in developing a scientific and quantitative approach.

Details

International Journal of Building Pathology and Adaptation, vol. 39 no. 2
Type: Research Article
ISSN: 2398-4708

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Article
Publication date: 8 July 2014

Arpan Kumar Kar and Ashis Kumar Pani

The application of theories on group decision support is yet to be explored extensively in supplier selection literature, although the literature in both domains is extremely…

927

Abstract

Purpose

The application of theories on group decision support is yet to be explored extensively in supplier selection literature, although the literature in both domains is extremely rich, in isolation. The purpose of this paper is to explore the application of group decision support theories for supplier selection.

Design/methodology/approach

The row geometric mean method (RGMM) of the analytic hierarchy process (AHP) has been used in this study for the prioritization of group preferences under consensus. A case study was conducted to test the theories of consensual group decision making and compare it with other approaches based on AHP.

Findings

The study establishes that the application of decision support theories for group decision making can improve the supplier selection process. Findings further imply that RGMM is more effective than eigen value method, for group decision making under consensus.

Research limitations/implications

Methodologically, the study highlights the greater regularity in outcome of group decision making, vis-à-vis individual decision making, for the same decision-making context. Also, it highlights how RGMM is more effective since it preserves reciprocal properties and diversity in preferences better.

Practical implications

The study establishes that firms can improve supplier selection processes by leveraging on the collective expertise of a group rather than depending on individual decision-making expertise.

Originality/value

This study explores the application of different theories based on AHP for consensual group decision making. It compares different approaches based on AHP and establishes that RGMM is a superior approach for supplier selection.

Details

Journal of Enterprise Information Management, vol. 27 no. 4
Type: Research Article
ISSN: 1741-0398

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Article
Publication date: 25 January 2021

Dalia Salem and Emad Elwakil

This research’s main objective is to develop an expert-based approach to rank critical asset assessment factors for health-care facilities. This approach will improve the asset…

304

Abstract

Purpose

This research’s main objective is to develop an expert-based approach to rank critical asset assessment factors for health-care facilities. This approach will improve the asset management of health-care buildings. This paper aims to study and prioritize the relative importance of asset criticality factors.

Design/methodology/approach

The research methodology begins with a comprehensive literature review of state-of-the-art health-care facilities management, asset management tools, critical asset assessment and approaches to model techniques. Then, using the expert-based opinion and the collected data through the analytical hierarchy process approach to developing the asset assessment model contains physical, environmental, general safety and revenue loss assessment models.

Findings

Results showed that the general safety factors and the sub-factors of life safety and physical safety contributed to asset condition assessment.

Practical implications

The proposed critical asset assessment ranking will benefit health-care facility organizations by assessing their asset performance according to capital renewal needs.

Originality/value

This study offers a novel conceptual framework to understand and determine rank critical asset assessment factors for health-care facilities.

Details

Facilities , vol. 39 no. 9/10
Type: Research Article
ISSN: 0263-2772

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Article
Publication date: 1 March 2003

David James Bryde

This paper presents an argument that it is appropriate to develop a model of project management (PM) performance from models for assessing quality management. The paper presents a…

26308

Abstract

This paper presents an argument that it is appropriate to develop a model of project management (PM) performance from models for assessing quality management. The paper presents a model, labelled the project management performance assessment (PMPA) model, based upon the EFQM business excellence model. The model proposes six criteria for assessing PM performance: project management leadership; project management staff; project management policy and strategy; project management partnerships and resources; project life cycle management processes; and project management key performance indicators. Using data from an empirical study of PM practice in UK organisations, the paper uses PMPA as a framework to explore variations in the character of PM performance. It is concluded that there are variations in attitudes and behaviour in each of these areas and that these variations may be used to help measure levels of PM performance.

Details

International Journal of Quality & Reliability Management, vol. 20 no. 2
Type: Research Article
ISSN: 0265-671X

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Article
Publication date: 14 October 2013

Oneil Harris, Jeff Madura and Charmaine Glegg

Agency theory suggests that if managers are not monitored, takeover negotiations may be contaminated by agency conflicts, which may weaken a firm's bargaining position. This paper…

595

Abstract

Purpose

Agency theory suggests that if managers are not monitored, takeover negotiations may be contaminated by agency conflicts, which may weaken a firm's bargaining position. This paper argues that some blockholders are more effective monitors than others, and tests whether the negotiating power of a target or bidder is influenced by their respective blockholder composition. The paper aims to discuss these issues.

Design/methodology/approach

This paper classifies target and bidder outside blockholders as either aggressive monitors or moderate monitors, and tests whether the degrees of monitoring effectiveness influence a firm's share of the total wealth created by the takeover (a proxy for bargaining power).

Findings

This paper finds that firms that have the types of outside blockholders with a greater tendency to monitor managers elicit higher takeover gains. This suggests that negotiating power in takeovers is conditioned on the types of blockholders that monitor the target and bidder. The results support the premise that better monitoring leads to higher gains for shareholders in a takeover. In particular, the findings suggest that the greater the tendency of outside blockholders to monitor managers, the lower the level of takeover-related agency conflicts and the stronger a firm's relative bargaining power.

Originality/value

These findings imply that agency conflicts on either side of a takeover bid may be reduced by better monitoring, but especially among bidders.

Details

Managerial Finance, vol. 39 no. 11
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 14 September 2015

Rodolfo Jr. Espada, Armando Apan and Kevin McDougall

The purpose of this paper is to present a novel approach that examines the vulnerability and interdependency of critical infrastructures using the network theory in geographic…

1342

Abstract

Purpose

The purpose of this paper is to present a novel approach that examines the vulnerability and interdependency of critical infrastructures using the network theory in geographic information system (GIS) setting in combination with literature and government reports. Specifically, the objectives of this study were to generate the network models of critical infrastructure systems (CISs), particularly electricity, roads and sewerage networks; to characterize the CISs’ interdependencies; and to outline the climate adaptation (CA) and flood mitigation measures of CIS.

Design/methodology/approach

An integrated approach was undertaken in assessing the vulnerability and interdependency of critical infrastructures. A single system model and system-of-systems model were operationalized to examine the vulnerability and interdependency of the identified critical infrastructures in GIS environment. Existing CA and flood mitigation measures from government reports were integrated in the above-mentioned findings to better understand and gain focus in the implementation of natural disaster risk reduction (DRR) policies, particularly during the 2010/2011 floods in Queensland, Australia.

Findings

Using the results from the above-mentioned approach, the spatially explicit framework was developed with four key operational dimensions: conceiving the climate risk environment; understanding the critical infrastructures’ common cause and cascade failures; modeling individual infrastructure system and system-of-systems level within GIS setting; and integrating the above-mentioned results with the government reports to increase CA and resilience measures of flood-affected critical infrastructures.

Research limitations/implications

While natural DRR measures include preparation, response and recovery, this study focused on flood mitigation. Temporal analysis and application to other natural disasters were also not considered in the analysis.

Practical implications

By providing this information, government-owned corporations, CISs managers and other concerned stakeholders will allow to identify infrastructure assets that are highly critical, identify vulnerable infrastructures within areas of very high flood risk, examine the interdependency of critical infrastructures and the effects of cascaded failures, identify ways of reducing flood risk and extreme climate events and prioritize DRR measures and CA strategies.

Originality/value

The individualist or “pigeon-hole” approach has been the common method of analyzing infrastructures’ exposure to flood hazards and tends to separately examine the risk for different types of infrastructure (e.g. electricity, water, sewerage, roads and rails and stormwater). This study introduced an integrated approach of analyzing infrastructure risk to damage and cascade failure due to flooding. Aside from introducing the integrated approach, this study operationalized GIS-based vulnerability assessment and interdependency of critical infrastructures which had been unsubstantially considered in the past analytical frameworks. The authors considered this study of high significance, considering that floodplain planning schemes often lack the consideration of critical infrastructure interdependency.

Details

International Journal of Disaster Resilience in the Built Environment, vol. 6 no. 3
Type: Research Article
ISSN: 1759-5908

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