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Based on a strong interest in the academic and practical aspects of the quality movement, a case study research of nine hotels in Wellington was undertaken, focusing on restaurant managers and front‐line staff. Reports that a number of findings with practical relevance emerged, on which recommendations have been based. These deal with: what quality means in practice; quality and servitude; shared perceptions of quality; empowering for quality; recruiting for quality; part‐time versus full‐time employees; quality programmes other than TQM; quality within a wider context; and positive attitudes to complaints.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

Civil wrongdoings with consequent financial and other loss or damage to employers, employees and third parties may result in the course of various trade union activities. These day to day trade union activities take a variety of forms. The most common ones are inducement of breach of contract, conspiracy, trespass, nuisance, and intimidation. Each of these activities constitutes a tort which, unless the statutory immunities apply, would normally give rise at common law to an action for damages or, as is more frequent, enable the aggrieved party to obtain an injunction.

The fast-changing, highly competitive and technology-driven business environment forces established firms to continually search for new business opportunities and innovative ideas. In reaction, corporations such as Google, Microsoft, Cisco and Bertelsmann have launched new corporate venture capital (CVC) units or have intensified existing CVC activities. This chapter examines the structure, patterns and investment focus of telecommunication, IT, consumer electronics and media & entertainment firms’ CVC investments by conducting a data-mining project based on the Thomson Reuters Private Equity database. The data-mining project reveals the increasing importance of CVC activities as a strategic development tool to address the requirements of the increasing costs, speed and complexity of a technology-driven industry since the bursting of the Internet bubble. Therefore, following chapter is one of the first CVC studies to describe and compare CVC investments of the last CVC wave across industry sectors.

This study aims to investigate the occurrence of pre-merger earnings management for a sample of 197 stock- and cash-financed UK acquirers between 1990 and 2009. It also examines the earnings management behaviour around the change in the Corporate Governance Code in 2003 based on the Higgs recommendations.

Mean and median accrual- and real-based manipulation are examined in the period before the announcement of a merger and acquisition. These are compared across stock and cash acquirers as well as before and after the implementation of the Higgs recommendations. Logistic regressions are also run to examine accrual- and real-based manipulation across stock and cash acquirers after controlling for variables that may affect the acquisition type.

The study found some evidence of upward pre-merger accrual-based earnings management by stock-financed acquirers, which is in line with the findings of Botsari and Meeks (2008). Furthermore, no significant changes were found in the post-Higgs period, which indicates that the recommendations put forth by Higgs may not have been successful in mitigating earnings management. The evidence also shows that cash bidders engage in pre-merger real earnings manipulation through lower discretionary expenses, possibly to enhance cash availability for the bid.

The findings in this study confirm earnings management exists around mergers and acquisitions and provide some evidence that the recommendations set out in the Higgs Report do not appear to have mitigated earnings management activities. This is of interest to regulators as well as investors and academicians.

This provides the first analysis in the UK examining the use of real-based earnings management activities by UK acquirers. It also extends prior research around corporate governance changes that occurred in the UK.

Many organizations around the world currently are facing board diversity issues and challenges. Hence, this empirical paper investigates the relationship between board diversity and firm’s financial performance. We use a sample of 35 companies from five countries in Southeast Europe (Macedonia, Croatia, Serbia, Bosnia and Herzegovina, and Greece) for the period between 2008 and 2012 to find that, on average, companies with well-educated board members are more profitable and overvalued on the market. When running the regression again to test the levels of heterogeneity, we also find that the companies with more women on board tend to be overvalued on the market, while those with more foreigners on board are subject of undervaluation. The paper mostly contributes to the literature on corporate governance and board diversity. First, we postulate the impact of each of the board diversity variables on the financial performance and then show the extent of this impact and its economic interpretation. Our findings have important practitioners’ implications for corporate regulators and policy-makers since the demonstrated positive impact of the well-educated board members on firm’s financial performance gives a new impetus in building a corporate strategy that will intend to engage more people holding PhD on board.

Prior literature indicates that syndication enhances the likelihood of ventures’ successful exits; however, it has neglected the differences among venture capital (VC) investor types. In fact, there are various types of VC investors with distinctive objectives. Therefore, by focusing on ventures backed by corporate venture capital (CVC) and independent venture capital (IVC) investors, the purpose of this paper is to investigate how the relative influence among a heterogeneous group of VC investors in a syndicate affects the likelihood of the venture’s successful exit.

A sample of 1,121 US ventures that received funding from both CVC and IVC investors during 2001 and 2013 are collected. Then, a Cox proportional hazards model is applied to analyze the likelihood of a successful exit (i.e. initial public offering or acquisition).

The relative reputation of CVC investors vis-à-vis their IVC co-investors in a syndicate is negatively associated with the likelihood of the venture’s successful exit. This negative relationship is exacerbated when CVC investors are geographically close to the focal venture, and it is weakened when CVC investors syndicate with IVC investors that they have collaborated in the past.

First, this paper advances VC syndication literature by demonstrating that syndication does not positively affect the likelihood of a venture’s successful exit unless key syndicate members seek to pursue going public or acquisition strategy. Second, this paper also reveals when CVC is beneficial from the ventures’ perspective. CVC participation facilitates ventures’ successful exits as long as reputable IVC investors are present in the syndicate. Third, this study contributes to the multiple agency perspective by showing that formal governance mechanisms affect ventures’ conduct and performance as well as informal sources of power.

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.

Armstrong, Whitworth Aircraft, Ltd., Coventry.—Aircraft, Reconditioning of: Supermarine Aviation Works (Vickers), Ltd., Woolston. Aircraft, Spares: Blackburn Aeroplane & Motor Co., Ltd., Brough; Westland Aircraft Works, Yeovil.—Bitumen: Asiatic Petroleum Co., Ltd., London, E.C.—Blocks, Terminal: Oliver Pell Control, Ltd., London, S.E.—Brushes: C. H. Leng & Sons, Birmingham.—Camera Spares: Thornton Pickard Manufacturing Co., Ltd., Altrincham.—Canvas Duck: Jas. Stott, Ltd., Oldham.—Coats, Great: L. Silberston & Sons, London, E.—Cylinders: Walter Kidde Co., Ltd., Hanwell.—Dopes and Identification Colours: Nobel Chemical Finishes, Ltd., Slough.—Engines, Aero, Reconditioning and Spares: Bristol Aeroplane Co., Ltd., Filton.—Engines, Aero, Spares, Repair of: D. Napier & Son, Ltd., London, W.—Engines, Aero, Spares: Rolls‐Royce, Ltd., Derby.—Glycerine: D. Thorn & Co., Ltd., Pendleton.—Landplane: De Havilland Aircraft Co., Ltd., Edgware.—Lay‐out of Moorings and Mark Buoys: Thos. Round & Sons, Scarborough.—Limousines, Humber, Pullman: Rootes, Ltd., Coventry.—Locomotive, Diesel: F. C. Hibbard & Co., Ltd., London, N.W.—Magnetos: British Thomson‐Houston Co., Ltd., Coventry; Rotax, Ltd., London, N.W.—Mahogany: M. A. Morris, London, N.—Nippers: Wynn Timmins & Co., Ltd., Birmingham.—Pantaloons: L. Silberston & Sons, London, E.—Plugs and Sockets: Vickers (Aviation), Ltd., Weybridge.—Pumps, Fuelling: Zwicky, Ltd., Slough.—Thermometers, Radiator: Negretti & Zambra, London, E.C —Transmitters: Standard Telephones and Cables, Ltd., London, N.W.—Trays for Racks: Hobbies, Ltd., Dereham.—Valves W/T: Edison Swan Electric Co.,Ltd., London, W.C.—Waistcoats, Life Saving: Robinson & Cleaver, Ltd., London, W.

Those most socially disadvantaged are at a greater risk of common mental disorder (CMD). The need to evaluate the health impact of social policy interventions that aim to reduce social inequalities between the disadvantaged and the better off is well recognised. This paper reports findings from a review to explore evidence on the health impact of UK policy interventions that aim to tackle the key social determinants of CMD. These were previously identified from the literature as cumulative socioeconomic deprivation, unemployment, psychosocial work characteristics, and poor social relationships. We identified some evidence of a positive impact on CMD of urban regeneration schemes, but evidence was sparse on interventions relating to the other determinants. The ability of research to inform policy designed to improve the lives of the disadvantaged could be assisted by a broader definition of what counts as evidence. This may include wider use of qualitative methodologies and a more deliberate focus on social processes known to be implicated in mental health.