scholarly journals An exploratory study of US acquirers’ market performance: pre- versus post-Sarbanes–Oxley act of 2002

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Samah El Hajjar ◽  
Elie Menassa ◽  
Talie Kassamany
Keyword(s):  
Fixed Effects ◽  
Design Methodology ◽  
Market Performance ◽  
Governance Mechanism ◽  
Content Type ◽  
Study Approach ◽  
Managerial Decisions ◽  
Sarbanes Oxley ◽  
Practical Implications

Purpose Motivated by the findings of Bhabra and Hossain (2017) that highlight an improvement in US market performance in the post-Sarbanes–Oxley (SOX) period, this paper aims to investigate how this change varies with the methods of payment used for the deals. Design/methodology/approach Deductive in nature and using an event study approach, this paper uses a sample of 675 deals between 1999 and 2006 to test three research hypotheses in a pre-post setting. Findings Results show that at the aggregate level, there is a significant improvement in the market performance of US acquirers around the announcement day in the aftermath of the passage of SOX 2002. Considered separately, both US stock acquirers and cash acquirers did not experience any significant improvement in market performance in the post-Sarbanes–Oxley period. These results are robust to controlling for governance, firm and deal variables, as well as industry and year fixed effects. Research limitations/implications Exploratory in nature, the results are to be interpreted in light of the sample size and the period under investigation. Practical implications The results provide evidence for regulators and legislators on the contribution of SOX 2002 to curbing managerial misconduct. Significant improvement in the market performance also signals more confidence in managerial decisions and a reduction in agency problems. The insignificant change in stock acquirers’ market performance can be an indication that policymakers should exert more efforts to improve shareholders' confidence in the quality of disclosure. Originality/value This investigation provides unique insights on whether SOX has been effective in mitigating mispricing concerns associated with stock-financed acquisitions and whether it was effective in moderating the governance mechanism associated with cash-financed acquisitions.

scholarly journals Accounting for the messiness of the research process: the fieldpath approach

2018 ◽  
Vol 13 (4) ◽  
pp. 315-332 ◽  
Author(s):  
Perttu Salovaara
Keyword(s):  
Qualitative Research ◽  
Design Methodology ◽  
Research Process ◽  
Content Type ◽  
Environmental Consequences ◽  
Human Ethics ◽  
Conceptual Paper ◽  
The Common ◽  
Practical Implications

Purpose It has recently become more acknowledged that there is a quality of “messiness” to the qualitative research process. The purpose of this paper is to introduce the fieldpath approach—a hermeneutically inspired framework—to account for the non-linearity, uncertainty and ambiguity of the research process. Design/methodology/approach This conceptual paper reviews how the scope of hermeneutics has been partly misunderstood. The paper discusses how the scope of hermeneutics has lately been expanded by works such as Günter Figal’s (2010) Objectivity: The Hermeneutical and Philosophy. Findings The fieldpath approach proposes that a heightened relation to materiality enables the messiness of the process to be preserved, while at the same time offering a way to find one’s footing in the midst of ontologically incomplete phenomena that are still—in a processual fashion—forming and becoming. Research limitations/implications This is a conceptual paper. In addition to the research mentioned here, more studies would be needed to legitimise, test and refine the approach. Practical implications Objectivity provides an additional criterion for researchers to lean on when facing the non-linearity and unexpected turns inherent in the qualitative research process. Social implications The stress on materiality involves an ethical dimension. Post-human ethics are concerned with the future environmental consequences and sustainability of the material world. The way that matter matters in our methodologies is of primary importance. Originality/value First, the paper emphasises that hermeneutics, contrary to the common perception, does offer criteria for evaluating between interpretations. Second, it introduces the notion of hermeneutic objectivity, which stresses the importance of materiality for interpretations. Third, it introduces the fieldpath approach, which, based on the previous criterion of hermeneutic objectivity, allows for the messiness of the research process, while also preserving a tight grip on the hermeneutic imperative of “understanding in a new way”.

Copa America: a resource-based theory of football talent

2019 ◽  
Vol 25 (3/4) ◽  
pp. 176-191
Author(s):  
Peter Omondi-Ochieng
Keyword(s):  
Logistic Regression ◽  
Design Methodology ◽  
Binary Logistic Regression ◽  
Content Type ◽  
Independent Variables ◽  
Football Team ◽  
Practical Implications ◽  
Resource Based Theory

Purpose Guided by the resource-based theory, the purpose of this study was to predict the role of football talent in the Federation Internationale de Football Association (FIFA) rankings of the men’s national football teams in the Copa America zone. Design/methodology/approach The study used archival data of Copa American national football teams. The dependent variable was FIFA rankings, and the independent variables were football talent (measured by the stocks of amateur footballers, professional footballers and football officials). Statistical analysis was performed using Kendall tau statistic and binary logistic regression. Findings The binary logistic regression results indicated that FIFA rankings were statistically and significantly associated with the stock of football officials and professional footballers – but not amateur footballers. The predictive model explained 80 per cent of the variance. Research limitations/implications The study focused exclusively on the stock of football talent in each nation, and not alternative determinants of national football team competitiveness as economic power and quality of professional football leagues, among others. Practical implications The stocks of professional footballers and football officials are valuable sources of competitive advantage (CA) in national football team rankings. Originality/value The study highlighted the uniqueness and distinctiveness of a nation possessing large stocks of professional footballers which can boost the CA and rankings of Copa American national football teams.

TIP TIG: new technology for welding

2007 ◽  
Vol 34 (6) ◽  
pp. 462-466 ◽  
Author(s):  
Mike Wilson
Keyword(s):  
Design Methodology ◽  
New Technology ◽  
Cost Savings ◽  
Mig Welding ◽  
Typical Application ◽  
Good Opportunity ◽  
Content Type ◽  
Welding Technology ◽  
Practical Implications

PurposeThe paper aims to report on a new welding technology, TIP TIG.Design/methodology/approachThe principle of operation and benefits of the technology are described together with a typical application.FindingsThe study finds that the technology provides the quality of TIG welding at the speeds of MIG welding, providing significant cost savings to the user.Practical implicationsTIP TIG provides a good opportunity for all users of robotic MIG welding to improve the quality of their product and reduce their costs.Originality/valueThe paper introduces a new and useful technology to the robot industry.

Improving transport performance in supply networks: effects of (non)overlapping network horizons

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Victor Eriksson ◽  
Kajsa Hulthén ◽  
Ann-Charlott Pedersen
Keyword(s):  
Design Methodology ◽  
Business Relationship ◽  
Transport Service ◽  
Change Initiative ◽  
Case Study Approach ◽  
Supply Networks ◽  
Content Type ◽  
Study Approach ◽  
Practical Implications

Purpose The aim of this paper is to investigate how the efforts of improving transport performance within the scope of one business relationship are embedded in a transport service triad, which, in turn, is embedded in the wider supply network. Design/methodology/approach The theoretical framing originates from the IMP approach with a specific focus on the concept network horizon, and literature on triads. The study is explorative and applies a qualitative design and a case study approach to illustrate how three actors engage in a change initiative to improve transport performance. Findings The paper concludes that it is crucial to get counterparts aware of the importance of expanding and defining their network horizons for a certain change initiative. Interaction among actors is important to create awareness and expand its own as well as others’ network horizons for a certain change. Three generic facets are proposed: overlapping network horizons, partly overlapping network horizons and non-overlapping network horizons. Practical implications The framework offers a tool to managers in terms of the concept of network horizon that can help to understand the challenges when dealing with change in supply networks and to understand where to deploy resources to cope with change. Originality/value This study adds to the literature by explicating facets of the concept of network horizon, especially when firms are faced with a change, how they are affected by this change and how they can cope with the related challenges.

Organizational learning through informal ties

2019 ◽  
Vol 34 (1) ◽  
pp. 40-42
Keyword(s):  
Informal Learning ◽  
Design Methodology ◽  
Reading Time ◽  
Learning Opportunities ◽  
Social Mechanisms ◽  
Content Type ◽  
External Stakeholders ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Informal learning ties posses scope to play a substantial role in the development of professionals. Creating such ties with different key internal and external stakeholders provides a valuable source of learning opportunities. Different social mechanisms can influence network creation and enhance the quality of learning that emerges as a result. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

scholarly journals Advisor gender and advice justification in advice taking

2019 ◽  
Vol 55 (1) ◽  
pp. 4-21
Author(s):  
Vinicius Farias Ribeiro ◽  
Adriana Victoria Garibaldi de Hilal ◽  
Marcos Gonçalves Avila
Keyword(s):  
Gender Stereotypes ◽  
Design Methodology ◽  
Research Field ◽  
Male Gender ◽  
Amazon Mechanical Turk ◽  
Managerial Decision ◽  
Content Type ◽  
Managerial Decisions ◽  
Advice Taking ◽  
Practical Implications

Purpose The purpose of this paper is to identify under what circumstances advisor gender and advice justification influence advice taking by managers. Design/methodology/approach The authors designed a quasirational managerial decision experiment with both analytic and intuitive cues. The design was a 2 × 2 between-subjects factorial, in which gender (male/female) and advice justification (intuitive/analytic) were crossed. The experiment involved two independent samples, taken from Amazon Mechanical Turk workers and Brazilian professionals. Findings Results suggest that, in general, analytic justification is more valued than intuitive justification. The findings also infer that depending on the advisees’ sample and providing that advice justification is analytic, quasirational scenarios seem to favor male advisors (MTurk sample) or both male and female advisors with “male values” (professional sample), as analysis is traditionally considered a “male value.” Practical implications Analytic justification will likely lead to more advice utilization in quasirational managerial situations, as it may act as a safeguard for the accuracy of the offered advice. Social implications The results might signal an ongoing, but slow, process leading to the mitigation of gender stereotypes, considering that the male gender stereotype was active in the MTurk sample, but not in the professional one. Originality/value This study contributes to the advice-taking research field by showing the interplay between advisor gender and advice justification in a quasirational managerial decision setting with both analytic and intuitive cues. In advice-taking literature, observations are usually collected from students. However, as this study focused on managerial decisions, the authors collected independent samples from MTurk workers and Brazilian professionals.

Observed effectiveness of the COSO 2013 framework

2019 ◽  
Vol 16 (1) ◽  
pp. 31-45
Author(s):  
Ifeoma Udeh
Keyword(s):  
Control Systems ◽  
Internal Control ◽  
Design Methodology ◽  
Control Process ◽  
Regression Analyses ◽  
Section 404 ◽  
Content Type ◽  
Sarbanes Oxley ◽  
Material Weaknesses ◽  
Practical Implications

Purpose This paper aims to examine the effectiveness of the Committee of Sponsoring Organization’s 2013 Framework, by investigating how the number of auditor-reported material weaknesses compares for Early-, Timely- and Late-adopters of the framework, and how the number of auditor-reported material weaknesses changed for Early- and Timely-adopters following their adoption of the framework. Design/methodology/approach The paper uses regression analyses based on a sample of US firms subject to Sarbanes-Oxley Act Section 404(b). Findings Timely-adopters of the 2013 Framework continued to exhibit fewer instances of auditor-reported material weaknesses than Late-adopters, even though they had a marginal increase in the number of auditor-reported material weaknesses, in the post-2013 Framework period. Practical implications The findings suggest that the effectiveness of the 2013 Framework may lie in the iterative nature of the internal control process, and as firms remedy deficiencies they or their auditors identify, they will continuously improve the effectiveness of their internal control systems. Originality/value Unlike existing literature, this paper uses data from the pre-2013 Framework, transition and post-2013 Framework periods to examine changes in the number of auditor-reported material weaknesses, thus differentiating between Early-, Timely- and Late-adopters of the 2013 Framework. It also shows the effect of adopting the 2013 Framework on the number of auditor-reported material weaknesses.

A qualitative investigation of benchmarking barriers in Nigeria

2016 ◽  
Vol 23 (7) ◽  
pp. 1677-1696 ◽  
Author(s):  
Yewande Adetoro Adewunmi ◽  
Hikmot Koleoso ◽  
Modupe Omirin
Keyword(s):  
Design Methodology ◽  
Best Practice ◽  
Computer Software ◽  
Facilities Management ◽  
Structured Interviews ◽  
Quality Of Data ◽  
Content Type ◽  
Port Harcourt ◽  
Practical Implications

Purpose The purpose of this paper is to examine benchmarking barriers among Nigerian facilities management (FM) practitioners. Design/methodology/approach Data collection were through semi-structured interviews with 34 FM heads from three selected cities in Nigeria. Out of this number, 16 were from Lagos, ten from Abuja while eight managers were from Port Harcourt, respectively. These managers were selected using purposive sampling based on their experience in the field of FM across the various sectors of the economy. The interviews were analysed with Nvivo 10 software qualitative computer software. Findings Those that do informal benchmarking face challenges with data, employees lack of confidence in new initiatives and poor support of senior management, the companies that use best practice benchmarking face constraints of access to information and employees unwillingness to change and comply to company set standards, unwillingness of benchmarking partners to understand the usefulness of the project, and problems that emanate from the quality of data obtained. Practical implications The results therefore suggest that to improve the practice of best practice benchmarking there is need to improve both quantity and quality of data for the exercise and enhance standard practice. Originality/value The study established a new category of benchmarking barriers called the market category of benchmarking barriers and further distinguished benchmarking barriers based on two forms of benchmarking which is informal and formal benchmarking. Also there are limited studies on benchmarking barriers in developing countries.

Financial support systems: the student experience in England and France

2005 ◽  
Vol 32 (1/2) ◽  
pp. 121-132 ◽  
Author(s):  
Susan Curtis ◽  
Rita Klapper
Keyword(s):  
Design Methodology ◽  
Financial Burden ◽  
Content Type ◽  
Financial Status ◽  
Financial Difficulties ◽  
University Life ◽  
The Uk ◽  
English Students ◽  
Practical Implications

PurposeTo investigate how the financial status of students in England and France affects their experience of university life.Design/methodology/approachA questionnaire survey was carried out among undergraduates in two countries. There were 168 responses from students studying at a French university and 325 responses from students studying at an English university.FindingsThe financial burden in France rests with parents, while in England students are largely responsible for their own funding. Indicators suggest that English students may be suffering from financial difficulties. Students continue the tradition of enjoying themselves and socialising, whatever their nationality and financial status.Research limitations/implicationsThe comparison made was not between institutions of equal status. The Institut de Formation Internationale in Rouen is part of a Grande Ecole group which is private, and may attract students from higher income families. The students at Manchester Metropolitan University Cheshire study in a rural locale (the towns of Crewe and Alsager in south Cheshire), which is unusual for a UK university and it may well be that a lower proportion of these undergraduates come from higher income families than the French students.Practical implicationsWhile it would seem to be more equitable and economically efficient for individuals to pay directly for services they receive, rather than those services being funded by higher tax, this study highlights certain problems. The quality of the educational experience for English students may be reduced by their continuing to live at home with parents and carrying out low level work while studying.Originality/valueNo other research appears to have been carried out in the UK or in France on this topic.

Overseas financial investigation of organised crime

2015 ◽  
Vol 18 (3) ◽  
pp. 371-381 ◽  
Author(s):  
Rick Brown ◽  
Samantha Gillespie
Keyword(s):  
Design Methodology ◽  
Effective Means ◽  
Secondary Analysis ◽  
Organised Crime ◽  
Quality Of Information ◽  
Content Type ◽  
Practical Implications ◽  
Insight Into

Purpose – The purpose of this paper is to explore the problems that arise when undertaking a financial investigation that involves tracing assets in foreign jurisdictions. Design/methodology/approach – The paper is based on a secondary analysis of data collected as part of a qualitative study of the role of financial investigation in tackling organised crime. This was based on interviews with investigating officers, financial investigators and Crown Prosecution Service representatives associated with 60 cases. Of the 60 cases, 36 were found to have an international dimension. Findings – The study found a number of problems with undertaking overseas financial investigations. These included problems with the letter of request process, difficulties tracking assets in some countries and problems with tracing funds transferred through money service bureaux. Informal contact on a police-to-police basis was generally considered an effective means of improving the quality of information received. Research limitations/implications – This study is based on just 60 cases of organised crime in which financial investigation was used. The extent to which these findings can be generalised to other cases is unclear. Practical implications – The study highlights the most common obstacles to overseas financial investigation that should be addressed. In addition, the importance of informal contact with overseas police jurisdictions may highlight a means of improving requests for assistance. Originality/value – This paper provides an important insight into the views of operational staff undertaking overseas financial investigations and as such highlights the particular difficulties in this work.

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