Determining the efficacy of consolidating municipal electric utilities in Ontario, Canada

2019 ◽  
Vol 13 (2) ◽  
pp. 298-317
Author(s):  
Philip R. Walsh ◽  
Olalekan Ajibade
Keyword(s):  
Economies Of Scale ◽  
Detailed Examination ◽  
Content Type ◽  
Positive Effects ◽  
Electricity Rates ◽  
Efficiency Measures ◽  
Signed Rank ◽  
Service Efficiency ◽  
Before And After ◽  
The Cost

Purpose This paper aims to examine empirically if the encouragement by government policy of merger and acquisition activity involving municipal and provincially owned electricity distribution utilities (LDCs) in the Province of Ontario has had positive effects in terms of value creation, operating performance and economies of scale. Design/methodology/approach It was anticipated that with LDC consolidation, there will be increased operational efficiency and improvement in the cost-effectiveness of the merged electrical utility. Using matched pairs dependent t-testing and Wilcoxon signed-rank testing, the authors compared data for three years before and after the merger or acquisition of 16 municipal utilities (616 total observations) to determine if there were any statistically significant changes (positive or negative) in measures of financial, operational and service efficiency. Findings The findings indicate statistically significant increases in debt as a percentage of shareholder equity in post-merger/acquisition utilities and consequently leveraged higher returns on equity. However, there were no statistically significant changes in financial, operational or service efficiency measures (with the exception of decreased efficiency in telephone response). Research limitations/implications A total of 16 mergers or acquisitions were reviewed involving 32 of 79 LDCs, with the research implications pointing to a need for existing policy to be reviewed to determine whether a more detailed examination is required by the provincial energy regulator, including a closer examination of managerial motives, before approving mergers between municipal electricity distributors. This research involves only a quantitative approach and further research would examine these transactions using qualitative measures for a deeper examination as to managerial motives. Practical implications The results suggest that the mergers or acquisitions to date have served only to increase shareholder risk without improvement in other financial, operational or service efficiencies, a contradiction to the rationale behind the Province’s merger policy. Social implications The consolidation policy for Ontario LDCs has not resulted in any statistically significant improvement in electricity rates or service for consumers. Originality/value This paper is the first examination of the effects of Ontario’s LDC consolidation policy in terms of specific financial, operational and service efficiency measures.

Physical space, culture and organisational creativity – a longitudinal study

Facilities ◽  
2015 ◽  
Vol 33 (5/6) ◽  
pp. 389-411 ◽  
Author(s):  
Tomi J. Kallio ◽  
Kirsi-Mari Kallio ◽  
Annika Johanna Blomberg
Keyword(s):  
Longitudinal Study ◽  
Cultural Change ◽  
Physical Environment ◽  
Physical Space ◽  
Organisational Culture ◽  
Longitudinal Case Study ◽  
Content Type ◽  
Positive Effects ◽  
Spatial Environment ◽  
Before And After

Purpose – The purpose of this study is to explore the potential positive effects of the design of a physical organisational environment on the emergence of an organisational culture conducive to organisational creativity. Design/methodology/approach – The study is based on an in-depth, longitudinal case study, the aim being to enhance understanding of how a change in physical space, including location, spatial organisation and architectonic details, supports cultural change. Findings – It is suggested that physical space plays an implicit yet significant role in the emergence of a culture conducive to organisational creativity. It appears from the case analysis that there are three aspects of culture in particular, equality, openness and collectivity, that may be positively affected by the design of an organisation’s physical environment. Practical implications – The careful choice, planning and design of an organisation’s physical location, layout and style can advance the appearance of an organisational culture conducive to creativity. Originality/value – The paper describes a longitudinal study comparing a case organisation before and after a change in its physical environment. The longitudinal data illustrates how a change in the spatial environment contributes to the emergence of a culture conducive to organisational creativity.

Designing and delivering an online lesson study unit in mathematics to pre-service primary teachers: opportunities and challenges

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wanty Widjaja ◽  
Susie Groves ◽  
Zara Ersozlu
Keyword(s):  
Lesson Study ◽  
Lesson Plan ◽  
Primary Teachers ◽  
Detailed Examination ◽  
Theory And Practice ◽  
Content Type ◽  
Before And After ◽  
High Level ◽  
Cross Case Analysis ◽  
Study Unit

PurposeThe purpose of this paper is to describe the design and delivery of a lesson study unit in mathematics to pre-service primary teachers and to identify the opportunities and challenges resulting from the need to deliver the unit wholly online due to the COVID-19 pandemic.Design/methodology/approachCross-case analysis, using a before-and-after design, was used to compare the development and delivery of the unit in 2019 and 2020, with the pivotal event of interest between the before-and-after cases being the onset of the COVID-19 pandemic.FindingsThe content and structure of the unit, as well as its collaborative aspects, remained substantially the same in the before-and-after cases. While there was a low level of engagement with pre-recorded lectures, there was a high level of engagement and participation in the online synchronous seminars, together with a marked increase in overall satisfaction with the unit. Pre-service teachers were unable to teach and observe one another's planned research lessons in school. Instead, after a detailed examination of the task, the lesson plan and student solutions, they observed a pre-recorded video of a research lesson at a local school and participated in a streamed post-lesson discussion. Pre-service teachers regarded this new component as a highlight of the unit and an important connection between the theory and practice of lesson study.Originality/valueThe inclusion of the video-recorded research lesson in 2020 introduced a new level of authenticity for pre-service teachers, allowing them to observe a high quality structured problem solving mathematics lesson taught in a local public school, as part of a local implementation of lesson study-something that is not generally possible. While there is often a view that the benefits of lesson study result mainly from collaborative planning and teaching of the research lesson, this paper highlights the value of involvement for all participants in research lesson observation and post-lesson discussion, as well as the opportunities afforded by the use of “virtual lesson study”.

Impact of liquidity and solvency risk factors on variations in efficiency of US banks

2020 ◽  
Vol 46 (7) ◽  
pp. 883-895
Author(s):  
Kekoura Sakouvogui
Keyword(s):  
Risk Factors ◽  
Financial Crisis ◽  
Cost Efficiency ◽  
Negative Impact ◽  
Random Effect ◽  
Basel Ii ◽  
Content Type ◽  
Efficiency Measures ◽  
The Cost ◽  
The Impact

PurposeThis paper evaluates the importance of both liquidity and solvency risk factors on variations in efficiency measures of US commercial and domestic banks from 2005 to 2017.Design/methodology/approachThe analysis is conducted using the true random effect stochastic cost model to examine the role of both liquidity and solvency risk factors. To this end, the author uses the exponential stochastic cost function and adds new variables, including bank size, crisis as an indicator of the financial crisis and the Dodd–Frank Act and Basel II Accord as regulatory dummies.FindingsThe results show that both liquidity and solvency risk factors positively affect the variance of cost inefficiency measures and thus have negative impact on the cost efficiency measures. In addition, banks increased the cost of financial intermediation during the financial crisis, whereas regulatory factors of Basel II Accord and Dodd–Frank Act play a crucial role in explaining the cost efficiency measures.Originality/valueThese results are the first to quantify the impact of both liquidity and solvency on the variations in cost efficiency measures.

Maize storage losses and its main determinants in China

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Meiyi Zhang ◽  
Yi Luo ◽  
Dong Huang ◽  
Haimin Miao ◽  
Laping Wu ◽  
...  
Keyword(s):  
Economies Of Scale ◽  
Food Policy ◽  
Nationwide Survey ◽  
Loss Reduction ◽  
Content Type ◽  
Storage Losses ◽  
Positive Effects ◽  
Main Determinants ◽  
The Government ◽  
On Farm

PurposeThe purpose of this study was to estimate on-farm maize storage losses and to empirically analyse the main determinants of maize storage losses in China.Design/methodology/approachBased on a nationwide survey of 1,196 households in 23 provinces (autonomous regions and municipalities) in China, the authors estimated on-farm maize storage losses and used a fractional logit model to analyse the main determinants of maize storage losses in China.FindingsThe results showed that, first, 1.78% of maize was lost during the storage stage in China and that storage loss experienced by smallholders varied across regions. Second, the empirical analysis showed that storage quantities have significant and negative effects on storage losses and that an economy of scale in household storage may exist; the percentage of maize stored for consumption and feed has significant and positive effects on storage losses, which may be related to market requirements and management activities. Third, compared to traditional facilities, silos and warehouses cause lower storage losses, while spraying chemicals and re-drying maize in the storage stage incur higher losses, possibly because to save costs, smallholders conduct loss-reduction activities only when they suffer serious losses, and when taking measures, farmers may sort grains, which also increases losses. Fourth, harvesting maize when it matures is significantly associated with lower storage losses.Research limitations/implicationsTo reduce storage losses, first, farmers' awareness of food saving and loss reduction must be increased. This could be achieved through agricultural training and education regarding food-saving practices. Second, the government could provide subsidies or low-interest credits to encourage farmers to use advanced facilities and promote land transfers to realize economies of scale. Finally, the government should accelerate the construction of smart agriculture systems and the timely monitoring of crop growth to suggest farmers to harvest at the appropriate time.Originality/valueReducing post-harvest loss (PHL) has become an important means of increasing the food supply and reducing resources use in China. This study provides a complete introduction to household maize storage losses and can therefore help characterize the current state of PHL in China, which is of vital importance to food security and food policy.

scholarly journals A systematic review of population and community dietary interventions to prevent cancer

2007 ◽  
Vol 20 (1) ◽  
pp. 74-88 ◽  
Author(s):  
Margaret Thorogood ◽  
Iveta Simera ◽  
Elizabeth Dowler ◽  
Carolyn Summerbell ◽  
Eric Brunner
Keyword(s):  
Systematic Review ◽  
Vegetable Intake ◽  
Population Level ◽  
Dietary Interventions ◽  
Community Based Interventions ◽  
Effect Change ◽  
Positive Effects ◽  
Before And After ◽  
The Cost

Diet is an important factor in the causation of cancer. Previous systematic reviews of one-to-one interventions to encourage dietary change have found that such interventions can achieve modest improvements in diet. However, such interventions are resource intensive and unlikely to be good value for money at a population level. Interventions that address groups, communities or whole populations may be less resource intensive and effect change in a wider population. We report a systematic review of such interventions. We set wide inclusion criteria, including before-and-after studies and studies with a non-randomized comparison group as well as randomized trials. We found eighteen studies based in the community, seventeen based on worksites, five based in churches and one based in a supermarket. Interventions which targeted fruit and vegetable intake were most likely to be successful, particularly in worksites and churches. There was also evidence of small positive effects on reducing fat intake in worksites and churches. Overall the community-based interventions showed little effect. The studies included in the present review were generally poorly reported. Dietary changes are reported in the relatively short-term studies reviewed here but may not be sustained in the long term. The effects that we have identified are small but the reach is potentially very wide, in some cases as wide as a whole country. The cost effectiveness of such strategies remains to be evaluated.

Reducing costs while maintaining quality in endovascular neurosurgical procedures

2014 ◽  
Vol 121 (5) ◽  
pp. 1071-1076 ◽  
Author(s):  
Osama N. Kashlan ◽  
Thomas J. Wilson ◽  
Neeraj Chaudhary ◽  
Joseph J. Gemmete ◽  
William R. Stetler ◽  
...  
Keyword(s):  
Cost Saving ◽  
Contrast Agent ◽  
Policy Change ◽  
Economies Of Scale ◽  
Feedback System ◽  
Neurosurgical Procedures ◽  
Policy Changes ◽  
Before And After ◽  
The Cost ◽  
Neurointerventional Procedures

Object As medical costs continue to rise during a time of increasing medical resource utilization, both hospitals and physicians must attempt to limit superfluous health care expenses. Neurointerventional treatment has been shown to be costly, but it is often the best treatment available for certain neuropathologies. The authors studied the effects of 3 policy changes designed to limit the costs of performing neurointerventional procedures at the University of Michigan. Methods The authors retrospectively analyzed the costs of performing neurointerventional procedures during the 6-month periods before and after the implementation of 3 cost-saving policies: 1) the use of an alternative, more economical contrast agent, 2) standardization of coil prices through negotiation with industry representatives to receive economies of scale, and 3) institution of a feedback method to show practitioners the costs of unused products per patient procedure. The costs during the 6-month time intervals before and after implementation were also compared with costs during the most recent 6-month time period. Results The policy requiring use of a more economical contrast agent led to a decrease in the cost of contrast usage of $42.79 per procedure for the first 6 months after implementation, and $137.09 per procedure for the most current 6-month period, resulting in an estimated total savings of $62,924.31 for the most recent 6-month period. The standardized coil pricing system led to savings of $159.21 per coil after the policy change, and $188.07 per coil in the most recent 6-month period. This yielded total estimated savings of $76,732.56 during the most recent 6-month period. The feedback system for unused items decreased the cost of wasted products by approximately $44.36 per procedure in the 6 months directly after the policy change and by $48.20 per procedure in the most recent 6-month period, leading to total estimated savings of $22,123.80 during the most recent 6-month period. According to extrapolation over a 1-year period, the 3 policy changes decreased costs by an estimated $323,561.34. Conclusions Simple cost-saving policies can lead to substantial reductions in costs of neurointerventional procedures while maintaining high levels of quality and growth of services.

Mental health recovery narratives: their impact on service users and other stakeholder groups

2019 ◽  
Vol 23 (4) ◽  
pp. 173-184 ◽  
Author(s):  
Myra Piat ◽  
Jessica Spagnolo ◽  
Suzanne Thibodeau-Gervais ◽  
Catherine Deschamps ◽  
Yves Gosselin
Keyword(s):  
Mental Health ◽  
Mental Health Recovery ◽  
Service Users ◽  
Cross Sectional ◽  
Content Type ◽  
Positive Effects ◽  
Stakeholder Groups ◽  
Before And After ◽  
Recovery Narratives ◽  
The Impact

Purpose The purpose of this paper is twofold: first, assess the effects of the peers’ recovery narratives on service users’ perceived mental health recovery; and second, explore various stakeholders’ perspectives on the program, specifically its facilitators and barriers. Design/methodology/approach The study used a convergent mixed-method design. First, a pre-test post-test design was used with service users to evaluate the peer recovery narrative program. They completed the Recovery Assessment Scale (RAS) and participated in qualitative interviews that explored perspectives on their mental health recovery before and after the program. Second, a cross-sectional design was used to explore stakeholder groups’ perspectives on the recovery narrative program immediately after listening to the narratives. Findings While findings show that there was no statistical difference between scores on the RAS before and after the peer narratives, thematic analysis revealed a change in service users’ understanding of recovery post-narratives. Other stakeholder groups confirmed this change. However, some healthcare professionals questioned the universal positive effects of the peer recovery narrative program on service users. Stakeholders agreed that beyond effects of the peer recovery narrative program on service users, there were also positive effects among the peers themselves. Originality/value To the authors’ knowledge, this is the first Canadian study, and one of the first studies to rely on mixed-methods and various stakeholder groups to evaluate the impact of peer recovery narratives on service users. The research, thus, fills a knowledge gap on peer recovery narratives.

The use and determinants of credit derivatives in Italian banks

2014 ◽  
Vol 15 (4) ◽  
pp. 417-436 ◽  
Author(s):  
Eleonora Broccardo ◽  
Maria Mazzuca ◽  
Elmas Yaldiz
Keyword(s):  
Financial Distress ◽  
Economies Of Scale ◽  
Credit Derivatives ◽  
Financial Statements ◽  
Annual Reports ◽  
Probit Regression ◽  
Content Type ◽  
Before And After ◽  
The Usa ◽  
Available Information

Purpose – This paper aims to answer the following research questions: To what extent do banks use credit derivatives (CDs)? What are the differences between users and non-users? What are the main underlying motivations? Design/methodology/approach – The annual reports of 112 Italian banks are analysed during the 2005-2011 period. By estimating a probit regression model, two incentives for using CD are tested: managing credit risk, and increasing a bank’s income composition/diversification. Different sub-samples are considered. The motivations are further investigated to understand whether they vary before and after the crisis. Findings – A limited number of banks use CD and larger and listed banks are more likely to do so. The results do not support the hedging hypothesis. Signals pointing towards the financial distress hypothesis emerge. Less capitalised banks are more likely to use CD. For listed banks, the findings support the hypothesis that economies of scale exist. After the financial crisis, a number of determinants tend to gain significance, and a speculative driver emerges. Originality/value – Previous studies focus primarily on the USA, and single-country studies do not exist in the literature. Given the importance of risk management that the crisis has reinforced, investigating whether CD use has changed before and after the crisis is of interest. Given the incompleteness of the information on CDs, the paper contributes to increasing the available information on CDs by hand-collecting data from banks’ financial statements.

Stock exchange industry in UAE

2015 ◽  
Vol 10 (3) ◽  
pp. 362-382 ◽  
Author(s):  
Andrea Paltrinieri
Keyword(s):  
Network Effects ◽  
Economies Of Scale ◽  
Stock Exchange ◽  
Developed Countries ◽  
Abu Dhabi ◽  
Economies Of Scope ◽  
Stock Exchanges ◽  
Fixed Costs ◽  
Content Type ◽  
Positive Effects

Purpose – The purpose of this paper is to give an overview of UAE Stock Exchange industry. In particular this paper aims to assess a potential merger between Dubai Financial Markets-Nasdaq-Dubai and Abu Dhabi Securities Exchange, evaluating risks, rewards, policy and business implications. Design/methodology/approach – The paper presents a theoretical framework and a literature review of M & As in financial sector. It then carries out a case study on a potential merger between the UAE Stock Exchanges and a discussion on the implications for the actors involved. Findings – The contraction both in market capitalization and in trading value in the three UAE Stock Exchanges caused by subprime financial crisis and market fragmentation could be a key factors in implementing a merger between them. Because of high-fixed costs and trading platform, a single consolidated stock exchange may benefit from significant economies of scale, particularly network effects, and economies of scope. Practical implications – This paper could be useful to Security and Commodity Authority, in order to support a merger between Dubai and Abu Dhabi Stock Exchange. Given that UAE capital market regulator has tried to improve efficiency in UAE stock market over the last years, a merger between UAE Stock Exchanges could have positive effects on overall efficiency. Originality/value – It is the first paper that analyze UAE Stock Exchange industry. It is the first study that focusses on a potential merger between emerging markets’ stock exchanges. It is one of the first contributions that relates stock exchanges belonging to emerging and developed countries.

The impact of communication on consumer knowledge of environmentally sustainable apparel

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jitong Li ◽  
Karen K. Leonas
Keyword(s):  
Product Distribution ◽  
Objective Knowledge ◽  
Consumer Knowledge ◽  
Content Type ◽  
Environmentally Sustainable ◽  
Subjective Knowledge ◽  
Positive Effects ◽  
Before And After ◽  
The Impact ◽  
Environmentally Sustainable Apparel

PurposeThis study aims to investigate consumer knowledge of environmentally sustainable apparel (ESA) and examine the impact of communication on consumer knowledge of ESA.Design/methodology/approachThis study employed a quantitative survey focused on Millennial and Generation Z consumers. Two communication methods, hangtags and product webpages, were involved. First, two instruments were established to measure consumers’ objective and subjective knowledge of ESA. Second, two questionnaires were developed to collect participants’ knowledge before and after reading hangtags or product webpages.FindingsThere were 385 useable responses. It was found that participants’ knowledge about waste and cotton production’s water issues was less than their knowledge of other subjects and did not increase after reading the related information on hangtags or webpages. Participants’ subjective knowledge was significantly higher than their objective knowledge after communication. The positive effects of communicating with consumers via hangtags and webpages on consumers’ subjective knowledge were confirmed. Additionally, the ESA information provided via hangtags was more effective than webpages in improving consumers’ objective knowledge.Originality/valueThis study makes up for the deficiency in the literature. It provides in-depth insights on consumers’ knowledge of ESA by investigating consumer knowledge before and after communication based on consumer knowledge structure. The textile and apparel industry can use this study’s findings to improve communication with consumers and aid in sustainable product distribution.

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