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Article
Publication date: 6 June 2016

Jan Stentoft, Ram Narasimhan and Thomas Poulsen

To support ongoing industry efforts to reduce the cost of energy (CoE) of offshore wind compared to other types of energy sources, researchers are applying scientific models and…

2209

Abstract

Purpose

To support ongoing industry efforts to reduce the cost of energy (CoE) of offshore wind compared to other types of energy sources, researchers are applying scientific models and thought processes to identify potential areas of improvement and optimization. This paper aims to introduce a conceptual framework from a supply chain management (SCM) perspective, aimed at promoting the reduction of CoE in the offshore wind energy industry.

Design/methodology/approach

Using conceptual arguments from current academic literature in SCM, a comprehensive framework is presented that clarifies how SCM practices can be used by offshore wind energy industry to reduce CoE.

Findings

The offshore wind energy sector is a young industry that must reduce CoE to compete with other forms of energy. Applying a supply chain perspective in the offshore wind industry has hitherto been limited to the academic community. This paper offers a SCM framework that includes three interdependent aspects of reducing CoE – innovation, industrialization and supplier partnering – to guide the industry towards sources to reduce CoE.

Research limitations/implications

SCM is a broad research area; thus, the presented framework to reduce the CoE is open for further development.

Practical implications

The paper provides insights into how the CoE can be reduced through innovation, industrialization and partnering in the offshore wind energy supply chain.

Originality/value

The paper offers a seminal contribution by introducing a SCM framework to understand sources and approaches to reduce CoE in the offshore wind energy industry.

Details

International Journal of Energy Sector Management, vol. 10 no. 2
Type: Research Article
ISSN: 1750-6220

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Article
Publication date: 17 November 2021

Niels Mygind and Thomas Poulsen

The purpose of this paper is to give an updated overview of the research on employee ownership. What does the scientific literature reveal about advantages and disadvantages? What…

1096

Abstract

Purpose

The purpose of this paper is to give an updated overview of the research on employee ownership. What does the scientific literature reveal about advantages and disadvantages? What can be learned from different models used in Italy, France, Mondragon (Spain), UK and US with many employee-owned firms in contrast to Denmark.

Design/methodology/approach

A structured review of the literature on employee. The paper identifies different mechanisms leading to effects on productivity, job stability, distribution, investment etc., and reviews the empirical evidence. The main barriers and drivers are identified and different models for employee ownership in Italy, France, Mondragon (Spain), UK and US are reviewed to identify potential models for a country like Denmark with few employee-owned firms.

Findings

The article gives an overview over the theoretical predictions and the main empirical evidence of the effects of employee ownership. The pros are greater employee identification with the firm and increased productivity reinforced by increased participation. Employee-owned firms have more equal distribution of wages and more stable employment, and they have greater mutual control between employees and fewer middle managers. The motivation effects may be smaller for large firms and lack of capital may lead to lower levels of investments and capital per employee.

Originality/value

Comprehensive and updated literature review on the effects and successful formats of employee ownership to identify models for implementation in countries with few employee-owned firms.

Details

Journal of Participation and Employee Ownership, vol. 4 no. 2
Type: Research Article
ISSN: 2514-7641

Keywords

Available. Content available

Abstract

Details

Journal of Participation and Employee Ownership, vol. 4 no. 2
Type: Research Article
ISSN: 2514-7641

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Article
Publication date: 8 April 2020

Duncan Borg Ellul and Tracey Wond

The present study aims to conduct a critical review of an existing set of practices within the Maltese public sector.

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Abstract

Purpose

The present study aims to conduct a critical review of an existing set of practices within the Maltese public sector.

Design/methodology/approach

This study is based on interpretivism (people-centred approach) embedded in a pragmatic research paradigm (the use of mixed methods).

Findings

Misconceptions about the role and practice of executive coaching in Malta relates to the similar roles ascribed to mentoring, supervision, therapy, consultation, coaching, audit and watchdog under the misnomer of “coaching”.

Research limitations/implications

The main contribution of this research is to the community of professional practitioners as well as to the Maltese central government to improve managerial effectiveness in the Maltese public sector with several endorsed policy-level recommendations presented in the study.

Practical implications

The results suggest a restructuring of a well-defined, structures, systems and dynamics within the Maltese public administration, the ability by senior management including senior public officers (SPOs) to recognise high-potential talents, the need to expand leadership capacity, the establishment of a professional coaching body and a national coaching network framework.

Originality/value

To the best of the authors’ knowledge, this is the first study that investigates the role and impact of executive coaching in the Maltese public sector using quantitative and qualitative empirical data.

Details

International Journal of Public Leadership, vol. 16 no. 2
Type: Research Article
ISSN: 2056-4929

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Article
Publication date: 10 February 2018

Jörn Obermann and Patrick Velte

This systematic literature review analyses the determinants and consequences of executive compensation-related shareholder activism and say-on-pay (SOP) votes. The review covers…

1154

Abstract

This systematic literature review analyses the determinants and consequences of executive compensation-related shareholder activism and say-on-pay (SOP) votes. The review covers 71 empirical articles published between January 1995 and September 2017. The studies are reviewed within an empirical research framework that separates the reasons for shareholder activism and SOP voting dissent as input factor on the one hand and the consequences of shareholder pressure as output factor on the other. This procedure identifies the five most important groups of factors in the literature: the level and structure of executive compensation, firm characteristics, corporate governance mechanisms, shareholder structure and stakeholders. Of these, executive compensation and firm characteristics are the most frequently examined. Further examination reveals that the key assumptions of neoclassical principal agent theory for both managers and shareholders are not always consistent with recent empirical evidence. First, behavioral aspects (such as the perception of fairness) influence compensation activism and SOP votes. Second, non-financial interests significantly moderate shareholder activism. Insofar, we recommend integrating behavioral and non-financial aspects into the existing research. The implications are analyzed, and new directions for further research are discussed by proposing 19 different research questions.

Details

Journal of Accounting Literature, vol. 40 no. 1
Type: Research Article
ISSN: 0737-4607

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Article
Publication date: 1 January 1991

Lisa Borstadt, Thomas Zwirlein and James Brickley

Innovations in takeover financing, less restrictive regulatory requirements, and a general desire to enhance market position have led to a substantial increase in corporate…

734

Abstract

Innovations in takeover financing, less restrictive regulatory requirements, and a general desire to enhance market position have led to a substantial increase in corporate takeover and restructuring activity. In response target firm managers have become increasingly active in devising defensive strategies and tactics designed to ward off hostile bidders. It is well‐ documented, however, that large wealth gains accrue to target firm shareholders in mergers and acquisitions. Thus the emergence of such terms as “shark repellents”, “poison pills”, and “greenmail”, raises the question of whose best interests are really being served by antitakeover measures.

Details

Managerial Finance, vol. 17 no. 1
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 24 August 2023

Saioa Arando-Lasagabaster and Beñat Herce-Lezeta

This article analyses how the MONDRAGON Group has overcome the barriers that the literature identifies in the creation of employee owned companies (Mygind and Poulsen, 2021), and…

112

Abstract

Purpose

This article analyses how the MONDRAGON Group has overcome the barriers that the literature identifies in the creation of employee owned companies (Mygind and Poulsen, 2021), and how it has managed to grow over the last few decades.

Design/methodology/approach

To this end, based on an analysis of the legislative framework and the internal documentation of the MONDRAGON Group and its cooperatives, the case of what is often considered the most successful and highly developed network of co-operative firms is studied.

Findings

The study leads us to conclude that MONDRAGON has had sufficient capacity to overcome the barriers faced by worker-owned companies and has known how to adapt to the economic and social demands of each moment, despite the fact that at certain times it has had to act flexibly in its principles.

Research limitations/implications

The work is limited to the analysis of the Group's internal documentation. It would be interesting to complement this vision with the perceptions of MONDRAGON's partners.

Practical implications

The MONDRAGON Group's study can show other cooperative experiences what the keys to success are.

Originality/value

MONDRAGON has been analysed from different perspectives, but how it has overcome the specific barriers presented by employee-owned companies has not been specifically studied. This perspective makes it possible to identify some of the group's success factors.

Details

Journal of Participation and Employee Ownership, vol. 6 no. 2
Type: Research Article
ISSN: 2514-7641

Keywords

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Book part
Publication date: 8 May 2019

Barrie Gunter

Abstract

Details

Children and Mobile Phones: Adoption, Use, Impact, and Control
Type: Book
ISBN: 978-1-78973-036-4

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Book part
Publication date: 12 September 2022

Dawei Jin, Hao Shen, Haizhi Wang and Desheng Yin

This chapter investigates whether and to what extent tax benefits affect the likelihood of firms undertaking leveraged buyout (LBO) transactions.

Abstract

Purpose

This chapter investigates whether and to what extent tax benefits affect the likelihood of firms undertaking leveraged buyout (LBO) transactions.

Design/Methodology/Approach

With an identified sample of LBO firms and similar non-LBO counterparts, this chapter utilizes staggered changes in state corporate income tax rates as exogenous shocks and adopts a Logistic regression to analyze how these tax changes affect firms' probability of engaging in LBOs.

Findings

Firms are more likely to engage in LBOs after increases in corporate income tax rates. Specifically, the increase in the likelihood of firms undertaking LBOs following tax increases is between 6.9% and 12.9%. We also find that this positive relation is more pronounced for firms with higher levels of return on assets (ROA) and marginal tax rates (MTR). Finally, we report that the mean value of tax benefits accounts for between 28.5% and 170% of the premium paid to pre-buyout shareholders.

Originality/Value

This chapter provides strong evidence that tax benefits constitute an important source of value creation in LBOs and adds to the debate regarding the role of tax benefits in LBOs.

Details

Empirical Research in Banking and Corporate Finance
Type: Book
ISBN: 978-1-78973-397-6

Keywords

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Book part
Publication date: 21 March 2022

Greg Park

Abstract

Details

Progressive Leadership: Challenging the Theory of the Firm in the 21st Century
Type: Book
ISBN: 978-1-83867-568-4

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