A “family of cycles” – major and auxiliary business cycles

2014 ◽  
Vol 32 (3) ◽  
pp. 306-323 ◽  
Author(s):  
Arvydas Jadevicius ◽  
Simon Huston
Keyword(s):  
Systematic Review ◽  
Business Cycles ◽  
Design Methodology ◽  
Market Dynamics ◽  
Property Market ◽  
Proper Understanding ◽  
Content Type ◽  
Market Participants ◽  
Practical Implications

Purpose – The paper aims to discuss the major and auxiliary types of cycles found in the literature. Design/methodology/approach – The existence of cycles within economy and its sub-sectors has been studied for a number of years. In the wake of the recent cyclical downturn, interest in cycles has increased. To mitigate future risks, scholars and investors seek new insights for a better understanding of the cyclical phenomenon. The paper presents systematic review of the existing copious cyclical literature. It then discusses general characteristics and the key forces that produce these cycles. Findings – The study finds four major and eight auxiliary cycles. It suggests that each cycle has its own distinct empirical periodicity and theoretical underpinnings. The longer the cycles are the greater controversy which surrounds them. Practical implications – Cycles are monumental to a proper understanding of complex property market dynamics. Their existence implies that economies, whilst not deterministic, have a rhythm. Cyclical awareness can therefore advance property market participants. Originality/value – The paper uncovers four major and eight auxiliary types of cycles and argues their importance.

CFTC overhauls customer protection requirements

2014 ◽  
Vol 15 (1) ◽  
pp. 25-32 ◽  
Author(s):  
Robert M. Brown
Keyword(s):  
Design Methodology ◽  
Commodity Futures ◽  
Regulatory Regime ◽  
Futures Trading ◽  
Content Type ◽  
Regulatory Response ◽  
Market Participants ◽  
Policies And Procedures ◽  
Practical Implications

Purpose – The purpose of the paper is to summarize the Commodity Futures Trading Commission's (CFTC) recent overhaul of its customer protection rules, which regulate how futures commission merchants (FCMs) and derivatives clearing organizations (DCOs) handle customer funds. Design/methodology/approach – The paper summarizes the most significant aspects of the CFTC's October 30, 2013 customer protection rulemaking, explains FCM and DCO obligations under the new regulatory regime, and sets forth a compliance timeline. Findings – The CFTC's recent overhaul of its customer protection rules impose significant new requirements on FCMs and DCOs in their handling of customer funds. Practical implications – All FCMs and DCOs that handle customer funds should review these new rules and begin putting into place policies and procedures to ensure their compliance as each new requirement comes into effect. Originality/value – The CFTC's overhaul of its customer protection regime is new and significant. FCMs and DCOs need to understand their new obligations under the rules. As these new rules are the CFTC's regulatory response to the events that led to the insolvencies of MF Global and Peregrine Financial Group, these developments also should be of interest to futures and swaps market participants generally.

scholarly journals Organizational cognitive neuroscience – potential (non-) implications for practice

2017 ◽  
Vol 38 (4) ◽  
pp. 564-575 ◽  
Author(s):  
Michael J.R. Butler
Keyword(s):  
Systematic Review ◽  
Cognitive Neuroscience ◽  
Design Methodology ◽  
Basic Research ◽  
Think Tank ◽  
Content Type ◽  
Translational Activity ◽  
Research Findings ◽  
Leadership And Organization ◽  
Practical Implications

Purpose The purpose of this paper is to highlight the potential implications and non-implications for leadership and organization development of a recent systematic review of empirical developments in organizational cognitive neuroscience (OCN). Design/methodology/approach Butler et al.’s (2016) systematic review of 40 empirical articles related to OCN is re-interpreted in terms of its potential to reveal (non-) implications for practice. OCN is critically discussed, then related to the research findings from studies with two methodological designs. Findings At this stage of OCN’s emergence, it appears that neuroimaging and physiology-based research methods have equal potential in their implications for practice, though hormonal data poses ethical public interest dilemmas. Both methods cannot be reduced to specific forms of application to practice, but they set an aspirational direction for the future development of leadership and organizations. Practical implications There appear to be two paces of translational activity – practitioners are moving more quickly than academics in applying OCN to practice. It is suggested that a meeting of minds may be needed to ensure that any risks associated with applying OCN to practice are minimized or eliminated. Social implications Inter-disciplinary research, like OCN, requires a social consensus about how basic research in cognitive neuroscience can be applied to organizations. A think tank will provide opportunities for deeper engagement and co-production between academics and practitioners. Originality/value Critically exploring the potential implications of OCN for practice, by basing the discussion on a systematic review of empirical developments.

ESMA issues Brexit opinions to EU regulators: a warning shot not only to the UK but also to the EU27

2017 ◽  
Vol 18 (4) ◽  
pp. 50-52
Author(s):  
William Yonge ◽  
Simon Currie
Keyword(s):  
Financial Services ◽  
Design Methodology ◽  
Content Type ◽  
Regulatory Response ◽  
Market Participants ◽  
Financial Firms ◽  
Practical Guidance ◽  
The Uk ◽  
Practical Implications ◽  
The Eu

Purpose To summarize and analyse four opinions issued in May and July 2017 by the European Securities and Markets Authority (“ESMA”) concerning regulatory and supervisory arbitrage risks that arise as a result of increased requests from financial market participants to relocate activities and functions in the EU27 following the UK’s decision to withdraw from the EU, and the expected regulatory response to those risks. Design/methodology/approach Discusses the possible relocation of financial firms, activities and functions following the UK’s decision to withdraw from EU; the resulting cross-sectoral regulatory and supervisory arbitrage risks that ESMA foresees; nine principles that ESMA enumerates to guide its regulatory response to those risks; some common themes that emerge from ESMA’s July Opinions; and the implications for UK firms and trading venues seeking to establish a presence in the EU 27. Findings ESMA foresees regulatory and arbitrage risks in Brexit and a potential “race to the bottom” as certain national regulators jostle for and grab UK market share. Practical implications UK firms and trading venues seeking to establish a presence in the EU27 from which to operate will need to give detailed consideration and focus to the resources and operational substance which will need to be located in the jurisdiction in which that presence is established. Originality/value Practical guidance from experienced financial services, securities and fund management lawyers.

Determinants of organizational performance: a proposed framework

2016 ◽  
Vol 65 (6) ◽  
pp. 844-859 ◽  
Author(s):  
Bashaer Almatrooshi ◽  
Sanjay Kumar Singh ◽  
Sherine Farouk
Keyword(s):  
Systematic Review ◽  
Literature Review ◽  
Organizational Performance ◽  
Design Methodology ◽  
Leadership Competencies ◽  
Content Type ◽  
Social Competencies ◽  
Key Variables ◽  
Practical Implications

Purpose – The purpose of this paper is to review the existing literature on determinants that influence organizational performance and to develop a framework that could be beneficial for leaders. Design/methodology/approach – This paper uses a systematic review of articles on the factors that influence organizational performance. The purpose of this systematic review is to collect and summarize all empirical evidence from literature that fits the context of this study. Findings – The findings of the study have been weaved together in a proposed framework for the role of cognitive, emotional, and social competencies on leadership competencies that in turn influence both employee and organizational performance. Research limitations/implications – This paper is a literature review, a framework on the determinants of organizational performance has been proposed but has not yet been tested empirically. Practical implications – Leaders can leverage the results of this study to enhance their leadership competencies for the purpose of improving the performance on both individual employee and organizational levels. Originality/value – There are few research-based studies on the determinants of organizational performance. This paper has identified key variables that play a significant role in helping organizations perform effectively.

DuPont analysis and dividend policy: empirical evidence from Malaysia

2018 ◽  
Vol 30 (1) ◽  
pp. 52-72
Author(s):  
Samuel Jebaraj Benjamin ◽  
Zulkifflee Bin Mohamed ◽  
M. Srikamaladevi Marathamuthu
Keyword(s):  
Design Methodology ◽  
Dividend Policy ◽  
Explanatory Power ◽  
Return On Assets ◽  
Policy Studies ◽  
Content Type ◽  
Market Participants ◽  
Dupont Analysis ◽  
Asset Turnover ◽  
Practical Implications

Purpose The purpose of this paper is to investigate the informativeness of asset turnover (ATO) and profit margin (PM) of the DuPont analysis in explaining dividend policy. Design/methodology/approach Annual financial data from Compustat for the period 2004-2009 were used to analyze a sample of Malaysian firms. Findings This study finds both PM and ATO to strongly explain contemporaneous dividends. The decomposition of return on net operating assets (RNOA) into PM and ATO also improves the explanatory power of dividends. The results of the predictive model show that PM and ATO are useful in predicting the propensity of firms to pay dividends. The results of the change dividend model, however, do not provide any significant results for PM and ATO. Practical implications Understanding the influence of ATO and PM on dividends could enable managers to realize the importance of these factors when making dividend policy decisions. Other market participants, such as financial analysts and lenders, could also recognize the empirical specifics related to decomposing the profitability measure into its two components, one measuring the asset efficiency and the other measuring the profitability per unit of product, in the context of dividend policy. Originality/value This study extends the empirical specifics of prior dividend policy studies by decomposing the popular profitability measure of return on assets into its two components of PM and ATO.

Tourism and on-site humour: a perspective article

2019 ◽  
Vol 75 (1) ◽  
pp. 65-68
Author(s):  
Anja Pabel ◽  
Philip L. Pearce
Keyword(s):  
Systematic Review ◽  
Design Methodology ◽  
Future Research ◽  
Relevant Research ◽  
Content Type ◽  
Theoretical Concepts ◽  
Research Opportunities ◽  
Early Stages ◽  
Practical Implications

Purpose This paper aims to outline major theoretical concepts relating to the tourism-humour relationship and provide commentary on opportunities for further research in this area. Design/methodology/approach Papers for this perspective research were sourced by conducting a systematic review which critically appraised relevant research on this topic to provide evidence on humour and its current use in tourism settings. Findings Humour has received attention from many academic tribes and disciplines; however, investigations in the context of tourism are only in its early stages. Research limitations/implications The paper is based on a select number of peer-reviewed literature studies on the topic of tourism and humour. Practical implications The paper outlines some of the challenges that tourism operators face regarding authenticity, i.e. when the delivery of scripted humour is performed in such a way that it is considered spontaneous and meaningful. Originality/value The paper provides a brief overview of how humour is currently used in tourism settings and recommends future research opportunities to guide further studies into this topic.

Pricing to market: market value – the enigma of misunderstanding

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nick French ◽  
Neil Crosby ◽  
Chris Thorne
Keyword(s):  
Market Value ◽  
Property Market ◽  
Content Type ◽  
Market Participants ◽  
Valuation Process ◽  
Definition Of ◽  
The Right ◽  
Practical Implications ◽  
Is Value

PurposeMarket value is an estimation of price in the market. It is value in exchange. The valuer's role is to determine the appropriate approach, the method and use the right model to achieve this aim as best as possible. However, underpinning all valuations and property analysis are valuation standards and definitions. This paper looks at the definition of market value and how some market participants may misunderstand or even misrepresent it. This is particularly true when there is a downturn in the market.Design/methodology/approachThis practice briefing is an overview of the role of market value as a definition of price and how it is often misused by stakeholders in the property market.FindingsThis briefing is a review of the valuation definitions clarifying what they mean and what they do not mean.Practical implicationsThe role of the valuer in practice is to use the appropriate definition for the task in hand. The understanding of those definitions is central to the valuation process.Originality/valueThis provides guidance on how valuation definitions can be presented to the client in accordance with the International Valuation Standards.

Deriving market prices for forestland properties from comparables

2018 ◽  
Vol 36 (4) ◽  
pp. 423-445
Author(s):  
Kalle Eerikäinen ◽  
Mika Venho
Keyword(s):  
Design Methodology ◽  
Market Price ◽  
Property Market ◽  
Market Prices ◽  
Content Type ◽  
Comparison Approach ◽  
Stage Classification ◽  
The Subject ◽  
Practical Implications ◽  
Data Collection Procedure

Purpose The purpose of this paper is to construct a market price predictor (MPP) for forestland properties by applying a sales comparison approach (SCA) with several value-related characteristics obtainable from the property-specific sales line declarations. Design/methodology/approach An SCA-based predictor was designed for appraising and valuing forestland properties with varying quantitative features that impact their overall value. Using a two-stage classification procedure, representative reference sales (i.e. comparables) are objectively and commensurately selected for the subject using location and forest characteristics as classifiers. Findings The new SCA-based MPP is a stable and reliable tool applicable for pricing forestland properties in any location when data from comparables are available. Research limitations/implications A systematic and spatio-temporally continuous data collection procedure is a prerequisite for obtaining appropriate data for the SCA-based appraisal and valuation techniques, including the MPP model presented in this study. Practical implications The MPP model is suitable for the practical appraisal and valuation of forestland properties. Social implications It is expected that by applying the MPP model for the appraisal and valuation of forestland properties, positive societal contributions will be achieved through the intensification of the forestland property market. Originality/value The MPP model provides an objective alternative to the adding-value technique, which is the most commonly applied tool to appraise forestland properties in Finland. It is also offers an assumption-free alternative to the income approach.

scholarly journals Social network analysis of the Korean disaster-safety industry

2018 ◽  
Vol 27 (1) ◽  
pp. 28-42 ◽  
Author(s):  
Byeong Je Kim ◽  
Hyung-Guen Park ◽  
Ji-Bum Chung
Keyword(s):  
Network Analysis ◽  
Market Structure ◽  
Design Methodology ◽  
Disaster Risk ◽  
Economic Benefits ◽  
Public Institutions ◽  
Business Networks ◽  
Proper Understanding ◽  
Content Type ◽  
Practical Implications

Purpose The purpose of this paper is to identify the present structure of the Korean disaster-safety industry and propose ways to promote it. Design/methodology/approach The background of the emergence of the disaster and safety industry in Korea is reviewed, and business networks of 91 companies belonging to the disaster and safety industry in Korea are identified and analysed through a network analysis. Findings Korean Government is struggling to nurture the disaster and safety industry as it has been on last few decades. This paper finds that the current industry has an ambiguous market structure, and the industry tends to depend highly on the demand of public institutions. Practical implications The concept of the disaster and safety industry is not well established in other countries except for Korea. If Korea successfully fosters its disaster and safety industry through its proper understanding, it would bring both disaster risk reduction and economic benefits. Originality/value This paper analyses the market structure of the disaster and safety industry, which is uniquely emerging in Korea and rarely designated as an industry in other countries.

Commentary on “Gender disorders in learning disabilities – a systematic review”

2014 ◽  
Vol 19 (4) ◽  
pp. 166-169
Author(s):  
David Thompson
Keyword(s):  
Systematic Review ◽  
Learning Disabilities ◽  
Gender Identity ◽  
Gender Dysphoria ◽  
Design Methodology ◽  
Personal Perspective ◽  
Content Type ◽  
Sexual Characteristics ◽  
Practical Implications ◽  
Support Work

Purpose – The purpose of this paper is to explore the gender identity of people with learning disabilities as a precursor to considerations of gender dysphoria. Design/methodology/approach – Discussion supported by illustrations from the literature. Findings – There is limited research on gender identity for people with learning disabilities. Practical implications – There is an urgent need to look at how men with Klinefelter's syndrome and learning disabilities are supported in relation to common female sexual characteristics. Originality/value – This is personal perspective on gender and people with learning disabilities which may support work with people who question their gender.

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