scholarly journals Towards a well-functioning stock market in context

2018 ◽  
Vol 2 (1) ◽  
pp. 21-36
Author(s):  
Jim Haslam ◽  
Jiao Ji ◽  
Hanwen Sun
Keyword(s):  
Stock Market ◽  
Regulatory Policy ◽  
Academic Research ◽  
Future Research ◽  
Critical Perspective ◽  
Content Type ◽  
Academic Literature ◽  
Key Issues ◽  
The One ◽  
Practical Implications

Purpose The purpose of this paper is to summarise and reflect upon key issues at the interface of prices, information and regulation with a focus upon the stock market in context. Reflecting upon academic research in the area of efficient markets, and regulatory policy, the concern is to discern issues in terms of policy and support for policy. What does the research imply for policy? Is it possible that the research, perhaps given its rhetoric, can be misinterpreted in relation to policy? The study is also concerned to develop avenues for future research based on these considerations. Design/methodology/approach The paper is an analytical and critical review and writing. Findings The reading of the research suggests a pragmatic regulatory policy that should be concerned to improve stock market functioning, including with respect to information, as well as the context of which this is part. At the same time, the literature may be read as promoting anti-regulatory policy. Practical implications On the one hand, these are consistent with the pragmatic policy referred to above. On the other hand, further research is suggested to explore substantively the rhetoric of the research and its interpretation and to explore understandings of the research and its implications amongst key constituencies in practice. Originality/value The concern is to bring key insights from the academic literature together with a view to promoting a pragmatic policy orientation, while cautioning in a critical perspective about how this academic literature and research might be interpreted from a policy perspective.

Toward better theory on the relationship between commitment, participation and leadership in unions

2012 ◽  
Vol 33 (8) ◽  
pp. 715-731 ◽  
Author(s):  
Gregor Gall ◽  
Jack Fiorito
Keyword(s):  
Design Methodology ◽  
Academic Research ◽  
Critical Assessment ◽  
Future Research ◽  
Research Needs ◽  
Union Commitment ◽  
Content Type ◽  
Extant Literature ◽  
The Relationship ◽  
Practical Implications

PurposeThe aim of this paper is to give a critique of the extant literature on union commitment and participation in order to develop remedies to identified weaknessesDesign/methodology/approachThe paper uses a critical assessment of extant literature.FindingsA number of critical deficiencies exist in the literature to which remedies are proposed.Research limitations/implicationsThe remedies need testing through empirical research.Practical implicationsFuture research needs to have different research foci and questions.Social implicationsWith a reorientation of future research on union commitment, participation and leadership, unions may be better able to benefit from academic research in the area.Originality/valueThe paper suggests that a reorientation of future research on union commitment, participation and leadership will allow more incisive and more robust contributions to be made to understanding unions as complex social organisms.

scholarly journals Accountability and responsibility defined

2018 ◽  
Vol 11 (3) ◽  
pp. 687-707 ◽  
Author(s):  
Stephen Keith McGrath ◽  
Stephen Jonathan Whitty
Keyword(s):  
Design Methodology ◽  
Academic Research ◽  
Internal Conflict ◽  
Future Research ◽  
Content Type ◽  
Physical Systems ◽  
Efficiency And Effectiveness ◽  
Governance Models ◽  
Definition Of ◽  
Practical Implications

Purpose The purpose of this paper is to remove confusion surrounding the terms responsibility and accountability from the general and project management arenas by creating “refined” (with unnecessary elements removed) definitions of these terms. Design/methodology/approach A method of deriving refined definitions for a group of terms by ensuring that there is no internal conflict or overlap is adopted and applied to resolve the confusion. Findings The confusion between responsibility and accountability can be characterised as a failure to separate the obligation to satisfactorily perform a task (responsibility) from the liability to ensure that it is satisfactorily done (accountability). Furthermore, clarity of application can be achieved if legislative and organisational accountabilities are differentiated and it is recognised that accountability and responsibility transition across organisational levels. A difficulty in applying accountability in RACI tables is also resolved. Research limitations/implications Clear definition of responsibility and accountability will facilitate future research endeavours by removing confusion surrounding the terms. Verification of the method used through its success in deriving these “refined” definitions suggests its suitability for application to other contested terms. Practical implications Projects and businesses alike can benefit from removal of confusion around the definitions of responsibility and accountability in the academic research they fund and attempt to apply. They can also achieve improvements in both efficiency and effectiveness in undertaking organisation-wide exercises to determine organisational responsibilities and accountabilities as well as in the application of governance models. Social implications Refined definitions of responsibility and accountability will facilitate building social and physical systems and infrastructure, benefitting organisations, whether public, charitable or private. Originality/value Clarity resulting in the avoidance of confusion and misunderstanding together with their consequent waste of time, resources and money.

Interpretation and tourism: holy grail or emperor’s robes?

2014 ◽  
Vol 8 (4) ◽  
pp. 462-476 ◽  
Author(s):  
Gianna Moscardo
Keyword(s):  
Design Methodology ◽  
Management Tool ◽  
Future Research ◽  
Limited Evidence ◽  
Critical Perspective ◽  
Content Type ◽  
Academic Literature ◽  
Tourism Management ◽  
Heritage Interpretation

Purpose – This paper aims to address the question – is heritage interpretation an effective tool in tourism? Design/methodology/approach – The author takes a critical stance seeking to identify and evaluate key assumptions and questions about the nature and effectiveness of heritage interpretation as a tourism management tool. Findings – There are significant gaps in the available research into interpretation and in those areas that have been studied, there is only limited evidence that interpretation is effective. There are few important findings in this area and even where there are some sound and useful conclusions, they still do not address some of the more fundamental concerns about interpretation more broadly. Research limitations/implications – The paper identifies a set of topics for future research based on the outcomes of the review and consideration of the critiques of interpretation that could be used to improve and extend interpretation in tourism. Originality/value – By taking a critical perspective on interpretation and questioning the untested and implicit assumptions about the nature and role of this activity within tourism, the paper identifies issues relevant to the conduct of tourism research more generally that have been given little attention in the academic literature to date.

scholarly journals Exploring online consumer curation as user-generated content

2019 ◽  
Vol 23 (3) ◽  
pp. 325-338 ◽  
Author(s):  
Jessica Babin ◽  
John Hulland
Keyword(s):  
Brand Management ◽  
User Generated Content ◽  
Social Connections ◽  
Future Research ◽  
Careful Study ◽  
Art Gallery ◽  
Content Type ◽  
Academic Literature ◽  
Online Consumer ◽  
Practical Implications

Purpose Some consumers are engaged in online curation, a type of user-generated content, in ways that can be impactful for brands. An example of online curation includes organizing themed collections of product images on Pinterest. The purpose of this paper is to present a framework of online consumer curation, introducing this topic to the marketing literature. Design/methodology/approach Through the analysis of the business and academic literature, as well as a careful study of many examples of online consumer curation, the authors present a framework for understanding online consumer curation. Findings The actions taken by online consumer curators are similar to those of museum or art gallery curators: acquiring, selecting, organizing and displaying content for an audience. The motivations for consumers to engage in online curation include building/displaying their identities and making social connections with their online audience. One outcome possible for the audience that views the curation is gaining access to carefully selected and recommended content. Research limitations/implications As online consumer curation is a new area of research, the authors suggest several marketing- and brand-relevant propositions that can be addressed in future research. Practical implications As consumers are frequently using product images and brand symbols in their online curation, it is important for marketing academics and practitioners to understand their actions. Originality/value The aim of the paper is to present a thorough introduction to the idea of online consumer curation by outlining relevant examples, providing a framework for understanding this activity and its implications for brand management, and listing ideas for future research.

Older entrepreneurship: a literature review and research agenda

2019 ◽  
Vol 13 (1/2) ◽  
pp. 178-195
Author(s):  
Vanessa Ratten
Keyword(s):  
Literature Review ◽  
Systematic Literature Review ◽  
Design Methodology ◽  
Future Research ◽  
Ageing Population ◽  
Content Type ◽  
More Care ◽  
Key Issues ◽  
Changing Demographics ◽  
Practical Implications

Purpose Mature age or older entrepreneurship is an understudied but important area of research due to the ageing population and changing demographics in society. The purpose of this study is to review the literature about older entrepreneurship to understand the gaps and areas that need more attention. Design/methodology/approach A systematic literature review was undertaken and then the content was analyzed according to main themes. The key issues currently discussed about older entrepreneurship are stated, which leads to a number of future research suggestions. Findings The findings involve the need to take more care in how to define and conceptualize older entrepreneurship and to undertake more studies that have an older sample in general entrepreneurship research. Research limitations/implications The systematic literature review highlights the gaps in the literature about older entrepreneurs that need to be addressed in future research. Practical implications The paper provides some suggestions about how older people can be more involved in entrepreneurship. Originality/value This study contributes to the emerging literature about older entrepreneurship by providing an overview and directions for the future.

Lean Six Sigma in consumer banking – an empirical inquiry

2019 ◽  
Vol 36 (8) ◽  
pp. 1345-1369 ◽  
Author(s):  
Vijaya Sunder M. ◽  
L.S. Ganesh ◽  
Rahul R. Marathe
Keyword(s):  
Project Management ◽  
Real Time ◽  
Six Sigma ◽  
Academic Research ◽  
Selection Criterion ◽  
Lean Six Sigma ◽  
Future Research ◽  
Content Type ◽  
Managerial Implications ◽  
Practical Implications

Purpose The evolution of Lean Six Sigma (LSS) within the operations management theory has enjoyed significant success in both manufacturing and services. Though the applicability of LSS is evident in the services sector through various publications, academic research on the use of LSS in the Banking and Financial Services (BFS) is limited, and hence deserves greater attention. The purpose of this paper is to illustrate the application of LSS in consumer banking in real-time setting. Design/methodology/approach A case study method is used to study the application of LSS in two consumer banks with stage 1 featuring identification of appropriate consumer banks where LSS projects could be undertaken, and suitable LSS readiness assessment was performed. In stage 2, LSS project opportunities were identified in the select banks through stakeholder engagement. Finally, in stage 3, LSS projects were executed for process improvements in a real-time setting. Findings The case studies provide evidence of the successful application of LSS in consumer banking and the associated multiple benefits. The extent of applicability and appropriate managerial implications in project management context are elaborated. An LSS project selection criterion is recommended as a part of the study. Further, the study explains five important managerial implications in BFS context, with an outlook for future research. Research limitations/implications Practitioner research shows that BFS organizations have changed their ways of working by adapting LSS over the last decade. However, the academic research concerning the applicability of LSS in BFS is apparently limited, and none of these are specific to “consumer banking.” This study serves as a strong foundation for future research in this area, which is at its nascence and upcoming in the researchers’ community. However, strong generalizations should not be made as this study is limited to two cases. Practical implications Since the cases are executed in the real-time setup of consumer banks, the paper has several practical implications. First, the paper confirms the applicability of LSS in consumer banking and concludes that LSS project management is merely a sub-set of LSS deployment. Second, LSS needs to be understood using a “systems thinking” perspective in order to move away from a narrow project-only approach. An LSS project selection criterion is recommended as a part of the study, which could serve as a managerial resource. Other managerial implications include effective management of stakeholders and change leadership as essential elements of LSS project management in banks. Originality/value LSS has been successful in the past few decades in the manufacturing and service sectors. However, its application in BFS is limited. This study illustrates the applicability of LSS in consumer banks, which deals with high volumes of data, customer bases and associated financial transactions.

scholarly journals Stakeholder defined

2017 ◽  
Vol 10 (4) ◽  
pp. 721-748 ◽  
Author(s):  
Stephen Keith McGrath ◽  
Stephen Jonathan Whitty
Keyword(s):  
Academic Research ◽  
Internal Conflict ◽  
Future Research ◽  
Public And Private ◽  
Content Type ◽  
Physical Systems ◽  
Private And Public ◽  
Definition Of ◽  
A Company ◽  
Practical Implications

Purpose The purpose of this paper is to create a “refined” (with unnecessary elements removed) definition of the term stakeholder, thereby removing confusion surrounding the use of this term from the general and project management arenas. Design/methodology/approach A method of deriving refined definitions for a group of terms by ensuring there are no unnecessary elements causing internal conflict or overlap is adopted and applied to resolve the confusion. Findings The refined definitions of stake and stakeholder are in terms of an interest and activity. This avoids all extensions of meaning introduced by defining particular types of stakeholders and/ or their degrees of impact. It also resolves the multiplicity of conflicting meanings possible when silent or assumed qualifiers of a word are ignored, restricting definition to, for example, project stakeholders or stakeholders of a firm. These definitions are carried forward into a mapping of the stakeholder locus of interest on an activity rather than a company base, enabling generic categorisation of stakeholders to be proposed for use in both private and public sectors. A governance difficulty with the term customer also emerged and a resolution to this is proposed. Research limitations/implications Resolution of the academic contention around the definition of stakeholders will facilitate future research endeavours by removing confusion surrounding the term. It can also provide clarity in governance arrangements in public and private sectors. Verification of the method used through its success in deriving this “refined” definition suggests its suitability for application to other contested terms. Practical implications Projects and businesses alike can benefit from removal of confusion around the definition of stakeholder in the academic research they fund and attempt to apply. Social implications A refined definition of the stakeholder concept will facilitate building social and physical systems and infrastructure, benefitting organisations, whether public, charitable or private. Originality/value Clarity results in the avoidance of confusion and misunderstanding together with their consequent waste of time, resources and money.

Academic research meets practice: why controversial results are not controversial

2018 ◽  
Vol 16 (1) ◽  
pp. 66-74 ◽  
Author(s):  
Patrick M. Wright ◽  
Anthony J. Nyberg
Keyword(s):  
Performance Measures ◽  
Academic Research ◽  
Chief Executive ◽  
Future Research ◽  
Content Type ◽  
Ceo Pay ◽  
And Performance ◽  
Hiring And Firing ◽  
The Impact ◽  
Practical Implications

Purpose This paper aims to explore some of the practical challenges boards face in setting chief executive officer (CEO) pay to show why the failure to see considerable overlap between pay and performance may not be due to poor governance. Design/methodology/approach This paper critically explores the different types of pay reported in public sources (actual vs realized) and the types of performance measures used in CEO pay research. This paper then conceptually reviews the broader governance responsibility of boards, particularly the hiring and firing of CEOs and the impact these decisions have on CEO pay. Findings The authors suggest that much of the lack of overlap between pay and performance may be because of misaligned timing of the pay and performance measures, differences between internally promoted and externally hired CEOs and severance packages of fired CEOs. They conclude that the lack of overlap may not signal failure on the part of boards, but rather may reflect the risk and uncertainty those boards face in hiring and firing of CEOs. Research limitations/implications The analysis shows how using publicly available sources of pay and performance data ignores the practical challenges that boards face in setting pay, and suggests greater care be given to future research purporting to show that boards are failing in their governance responsibilities. Practical implications CEO pay may not be as misaligned with performance as many researchers conclude, but may be due to the risks and uncertainty inherent in governance. Social implications The distributive justice critique of CEO pay may not be valid. Originality/value As opposed to simply mining public databases, this paper more accurately describes some of the variables that impact how boards set CEO pay.

Market efficiency and the Greek fixed-odds betting market

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alexandros Kalaitzakis ◽  
Petros Lois ◽  
Spyros Repousis
Keyword(s):  
Market Efficiency ◽  
Future Research ◽  
Content Type ◽  
Betting Market ◽  
Online Betting ◽  
The One ◽  
Linear Probability ◽  
Opening And Closing ◽  
Football Betting ◽  
Practical Implications

PurposeThe purpose of this study is to empirically examine the efficiency of Greek fixed-odds (offline) betting market as offered by OPAP for the period 2016–2019.Design/methodology/approachUsing a four-year data sample of OPAP's opening and closing odds for football matches from all over the world and applying linear probability and probit models, the market efficiency is examined and the existence of possible anomalies is investigated.FindingsThe main findings of research suggest that although the odds are dominated primarily by favorite-longshot bias and secondarily by draw bias, this mispricing cannot prove profitable. However, the opening odds, the margin levels and the market structure provide information that is not fully captured by the closing odds, giving bettors profit opportunities. Thus, findings show that the semi-strong market efficiency is questionable. Finally, competition reduces commissions leading to more efficient odds.Practical implicationsThe conclusions of this study are useful for football betting market and, particularly, for government authorities, bookmakers and bettors. Findings can be extended in future research to prediction tasks.Originality/valueTo the best of the authors’ knowledge, this is the first study about the Greek football betting market. The contribution to the literature lies on the one hand in the examination of a monopolistic land-based betting market, which is being squeezed and threatened by the more competitive online betting market, and on the other hand in the simultaneous examination of the opening and closing odds.

Maintenance management models: a study of the published literature to identify empirical evidence

2015 ◽  
Vol 32 (6) ◽  
pp. 635-664 ◽  
Author(s):  
Kym Fraser ◽  
Hans-Henrik Hvolby ◽  
Tzu-Liang (Bill) Tseng
Keyword(s):  
Empirical Evidence ◽  
Real World ◽  
Academic Research ◽  
Theory And Practice ◽  
Maintenance Management ◽  
Future Research ◽  
Content Type ◽  
Academic Literature ◽  
Management Models ◽  
Real World Applications

Purpose – Maintenance and its management has moved from being considered a “necessary evil” to being of strategic importance for most competitive organisations around the world. In terms of the identification and use of organisational-wide maintenance management models the picture is not clears from both a literature and practical perspective. The purpose of this paper is to shed light on the various models and their use in real-world applications, and in doing so, explores the gap between academic research and practice. Design/methodology/approach – For this paper two comprehensive reviews of the literature were undertaken, first, to identify and categorise the various maintenance management models, and second, to determine the depth of empirical evidence for the popular models in real-world applications. Descriptive analysis of both the practical examples and empirical evidence rates (EER) for maintenance related journals is provided. Findings – Within the literature 37 maintenance management models were identified and categorised. From these, three models were found to be popular: total productive maintenance (TPM), condition based maintenance, and reliability centred maintenance. While several thousand papers discussed these three models, only 82 articles were found to provide empirical evidence. Research limitations/implications – While providing a sound foundation for future research the outcomes are based solely on academic literature. Analysis of EER outside the field of maintenance is needed to make comparisons. Practical implications – The paper offers practitioners a detailed contemporary overview of maintenance management models along with tabulated results of practical examples to present day organisations. Such practical-focused papers are very limited within academic literature. Social implications – With EER as low as 1.5 per cent for some journals this paper acts as a reminder to researchers that they have an obligation to society to spend taxpayer funded research on addressing social needs and real-world problems. Originality/value – This paper makes a concerted attempt to link academic research with management and operational practitioners. While the paper is critical of the current academic imbalance between theory and practice, a number of suggestions to improve EER are offered in the conclusions.

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