Stephen Witt and Richard Dobbins
The implications of modern portfolio theory for pension fund investment management are examined and compared with actual behaviour. It appears that the extent to which pension…
Abstract
The implications of modern portfolio theory for pension fund investment management are examined and compared with actual behaviour. It appears that the extent to which pension funds diversify goes far beyond that required for risk reduction, and therefore possible alternative motives are suggested. There is also some evidence of excessive equity trading.
Herbert Sherman and Daniel J. Rowley
Stephen Hodgetts read the e-mail over and over again and still could hardly believe what he had read. He had just come back from his vacation, well rested and refreshed, and this…
Abstract
Stephen Hodgetts read the e-mail over and over again and still could hardly believe what he had read. He had just come back from his vacation, well rested and refreshed, and this e-mail had dampened his high enthusiasm. It took time to absorb such bad news and for Hodgetts to get over his incredulity.Yet in the end Hodgetts accepted the truth‐a deep, dark terrible truth that would not go away. Robert Davis, his business partner’s son, had confirmed in an e-mail his worst fears about their newest business partner, David Russ.Many thoughts were running through his mind simultaneously yet each screamed to be heard.“How could he and his partner Richard Davis have been so blind, so trusting?” “How could Russ not have heeded the advice of his business partner, Richard Davis, Russ’s former English professor?” And most important, “What was now going to happen to their new business?” Yet the one thought that continued to echo among them all was surprisingly a quote from Sir Arthur Conan Doyle’s beloved character, Sherlock Holmes: “But there are always some lunatics about. It would be a dull world without them.”
In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of…
Abstract
In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.
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Standards are important in all areas of library automation. Standards will facilitate the linking of different types of systems within one library as well as systems that perform…
Abstract
Standards are important in all areas of library automation. Standards will facilitate the linking of different types of systems within one library as well as systems that perform similar functions in different libraries. Stephen Salmon (Carlyle), George Sidman (INLEX), Richard Woods (Biblio‐Techniques), Mike Monahan (Geac), Richard Goldberg (CLSI), Stephen M. Silberstein (Innovative Interfaces), and M.E.L. Jacob (OCLC) express their views on existing standards, and the need for and probable course for developing additional standards.
David E. Bowen, Raymond P. Fisk, John E.G. Bateson, Leonard L. Berry, Mary Jo Bitner, Stephen W. Brown, Richard B. Chase, Bo Edvardsson, Christian Grönroos, A. Parasuraman, Benjamin Schneider and Valarie A. Zeithaml
A small group of pioneering founders led the creation and early evolution of the service research field. Decades later, this article shares timeless service wisdom from ten of…
Abstract
Purpose
A small group of pioneering founders led the creation and early evolution of the service research field. Decades later, this article shares timeless service wisdom from ten of those pioneering founders.
Design/methodology/approach
Bowen and Fisk specified three criteria by which to identify a pioneering founder. In total, 11 founders met the criteria (Bateson, Berry, Bitner, Brown, Chase, Edvardsson, Grönroos, Gummesson, Parasuraman, Schneider and Zeithaml) and were invited to join Bowen and Fisk – founders that also met the criteria as coauthors. Ten founders then answered a set of questions regarding their careers as service scholars and the state of the field.
Findings
Insightful reflections were provided by each of the ten pioneering founders. In addition, based on their synthesis of the reflections, Bowen and Fisk developed nine wisdom themes for service researchers to consider and to possibly act upon.
Originality/value
The service research field is in its fifth decade. This article offers a unique way to learn directly from the pioneering founders about the still-relevant history of the field, the founders' lives and contributions as service scholars and the founders' hopes and concerns for the service research field.
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Herbert Sherman and Daniel J. Rowley
“I quit.” Those two little words were dropped like an atomic bomb and seemed to explode across the dinner table at the Davis residence. The meal had not yet been served though…
Abstract
“I quit.” Those two little words were dropped like an atomic bomb and seemed to explode across the dinner table at the Davis residence. The meal had not yet been served though everyone was at the table engaged in a lively discussion, which of course included their business, DHR Patio Homes, LLC. Immediately, a hush descended upon the Davis family and their guest, close friend, and business associate, Stephen Hodgetts, as an imaginary mushroom cloud filled the room. No one could move or say a word although numerous glances of varying nature were being exchanged in rapid succession. The somberness of the situation was quickly broken, however, by another barrage of discontent. “I've had it, I quit. Find someone else to act as the contractor for the company.” With those words, RJ Davis quickly vacated the dining room and zoomed upstairs into the Davisesʼ spare garage apartment.
Review essay on Stephen A. Resnick and Richard D. Wolff’s, Class Theory and History: Capitalism and Communism in the USSR. New York and London: Routledge. xiv + 353 pp. 2002.The…
Abstract
Review essay on Stephen A. Resnick and Richard D. Wolff’s, Class Theory and History: Capitalism and Communism in the USSR. New York and London: Routledge. xiv + 353 pp. 2002. The overwhelming ideological dominance of neo-liberalism has led to the widespread acceptance of the most facile explanations of the collapse of the Soviet Union, whose demise supposedly demonstrates the validity of Adam Smith’s critique of political intervention in the functioning of the market. In this book Stephen Resnick and Richard Wolff undertake the vitally important task of theorizing the rise and fall of the Soviet Union from a Marxist perspective. Resnick and Wolff follow the neo-liberals in seeing the Soviet Union as a form of capitalism administered by the state, but reject the neo-liberal critique of the inefficiency of state capitalism, celebrating the supposedly great economic achievements of the Soviet Union. The failure of the Soviet Union lay not in the dominance of the state, but in the failure to go beyond state capitalism to establish a communist society. Instead of building on the limited communist elements in soviet society, the Soviet Union was marked by the persistence of what Resnick and Wolff call the “ancient” and “feudal” class structures which ultimately proved its undoing, by undermining the state capitalist appropriation of the surplus and providing the cultural and political foundations for a return to private capitalist forms of surplus appropriation.
Richard C. Stephens, Duane C. McBride and Judith A. Levy
Herbert Sherman, Adva Dinur and Daniel Rowley
In this two-part case, Richard Davis and Stephen Hodgetts, co-owners of D&H Management LLC, are trying to come to terms with changes in the real estate market‐changes that have…
Abstract
In this two-part case, Richard Davis and Stephen Hodgetts, co-owners of D&H Management LLC, are trying to come to terms with changes in the real estate market‐changes that have made their rental homes worth less than their mortgages and at best yielding at most a break-even cash flow. In Part A Davis and Hodgetts are weighing the following options: (1) sell all of the properties, assume a loss (walk away with nothing), and avoid the negative cash flow; (2) walk away from all of the properties, assume a loss (walk away with nothing), and avoid the negative cash flow; (3) delay paying the mortgage on some of the homes, allow these properties, if necessary, to go into foreclosure, and in the interim use the positive cash flow to shore up some of the more positive cash flow homes; (4) contact all of the lenders and try to renegotiate the mortgages so as to have lower monthly rates.
In Part B Davis proposes that he and Hodgetts go their separate ways. Davis walks away with the two properties that have mortgages in his name, while Hodgetts obtains the four properties that have mortgages in his. From Hodgettsʼ perspective this is a losing proposition since (1) he would have to take over the management of four “loser” properties rather than Davisʼs two, an ʼunfairʼ split of the liabilities; (2) he had no interest in managing properties; and (3) he and Davis would be splitting up a long-standing team.