Search results for "International management"
showing 10 items of 1373 documents
Environmental Benefit of Improving Wastewater Quality: A Shadow Prices Approach for Sensitive Areas
2018
The use of effluents from wastewater treatment plants (WWTPs) as a non-conventional source of water for wetlands in arid and semi-arid regions is becoming the most-often sought solution for maintaining water flow in sensitive wetlands there. However, the managing effluent quality should be a requirement because excess nutrients (mainly nitrogen and phosphorus) can generate eutrophication problems in wetlands. In the Mediterranean area in general, wetlands are strongly vulnerable to eutrophication, which is why they are classified as sensitive areas. Our study uses a data set from 24 WWTPs, effluents of which are discharged to wetlands in the coast of Community of Valencia. We use the shado…
Attuned HRM Systems for Social Enterprises
2021
This paper is motivated by a puzzling observation made when conducting a case study of ProCredit (PC), a well-known social bank. The HR practices that this social enterprise (SE) adopted to cultivate mission identification were unfavorably impacting its retention rate. Building on prior research and our analysis of the case, we argue the need for SEs to embrace HRM systems that are both mission-identification proactive and employee-retention preemptive. It theorizes that these HRM systems should be attuned to the labor market conditions (e.g., market segmentation and competition for employees) that frame how SEs develop and sustain Person-Organization (P-O) fit. Attuned HRM systems are adap…
Clustering and innovation: firm-level strategising and policy
2017
Ethical Banking in Spain: Does an Organisational Identity Exist That Distinguishes It from Conventional Banking?
2020
Ethical banking has developed considerably in recent years. However, neither a universally accepted definition, nor a consensus by academicians about its typical characteristics yet exists to diffe...
Venture Capitalists' Decision to Syndicate.
2006
International audience; Financial theory, access to deal flow, selection, and monitoring skills are used to explain syndication in venture capital firms in six European countries. In contrast with U.S. findings, portfolio management motives are more important for syndication than individual deal management motives. Risk sharing, portfolio diversification, and access to larger deals are more important than selection and monitoring of deals. This holds for later stage and for early stage investors. Value adding is a stronger motive for syndication for early stage investors than for later stage investors, however. Nonlead investors join syndicates for the selection and value-adding skills of t…
Consequences of the Abandonment of Mandatory Joint Audit : An Empirical Study of Audit Costs and Audit Quality Effects
2016
Abstract This paper focuses on the unique Danish setting in examining the consequences of abandoning a mandatory joint audit regime. We study the effects on audit costs (measured by audit fees) and audit quality (measured by abnormal accruals) of the abandonment of the mandatory joint audit in Denmark in 2005. We perform our analysis on non-financial listed Danish companies for the 2002–2010 period. Our results show that a joint audit is associated with higher fees, but that the association between joint audit and abnormal accruals is insignificant. This suggests that the higher audit fees cannot be explained by higher audit quality. Our results are robust to alternative measurements of fee…
Financial wealth, socioemotional wealth, and founder exits: an empirical examination of Chinese IPOs
2021
Initial public offerings (IPOs) are typically viewed as the peak of entrepreneurial success, providing founder-CEOs a chance to profitably exit. Founder-CEOs, however, are often motivated by non-financial considerations in addition to the desire to amass wealth. According to the behavioral agency model, the founder-CEOs’ framing of gains vs. losses of their wealth creation at IPO determines their risk aversion vs. risk taking behaviors. In addition, the behavioral agency model argues that founder-CEOs with a great deal of socioemotional wealth fear losing that wealth. This fear will attenuate their aversion to losing financial wealth. To test our model, we collected a sample of 130 entrepre…
Assessment of the Insolvency Risk in Companies Listed on the Bucharest Stock Exchange
2019
Abstract The present study presents, from the theoretical and pragmatic point of view, 6 of the established score models regarding the assessment of the insolvency risk, belonging to the Anglo-Saxon, Continental and Romanian schools. The research sample is made up of 26 companies belonging to the hotel industry and restaurants, listed on the Bucharest Stock Exchange. The research was carried out over a period of 11 years (2007-2017). Following the application of the score models, it was found that during the period covered by the research, a number of 14 companies had a relatively high insolvency risk and 12 of them had a relatively low insolvency risk.
Successful turnarounds in bankrupt firms? Assessing retrenchment in the most severe form of crisis
2019
During economic downturns, firms file for bankruptcy in an effort to attempt a “turnaround.” The objective of this study is to assess the effectiveness of retrenchment strategies in the context of bankruptcy, as the most severe form of crisis. We conducted a longitudinal analysis of a sample of 868 bankrupt Spanish firms during the period 2004–2017. The empirical results show that stakeholder support and deep cost retrenchment increase the likelihood of survival and performance recovery, while aggressive layoffs are detrimental for turning bankrupt firms around. Surprisingly, intense asset retrenchment had no significant effects on firm survival and also pushed performance downward. The fi…
Pour une véritable théorie de la latitude managériale et du gouvernement des entreprises.
1996
Le problème du contrôle des dirigeants et la notion de gouvernement des entreprises font l'objet depuis longtemps de travaux, souvent liés à des théories de l'organisation parmi les plus connues (théorie des coûts de transaction, théorie de l'agence…). Mais il semble que ces analyses, notamment parce qu'elles sont trop centrées sur les relations avec les actionnaires et négligent l'examen de la « latitude managériale », ne puissent qu'incomplètement rendre compte du statut et du comportement effectif des dirigeants. L'auteur propose ici de suivre diverses pistes pour dépasser cette situation en enrichissant les approches réductrices aujourd'hui dominantes.