Search results for "finance"
showing 10 items of 4676 documents
A generalized oligopoly model with conjectural variations
2011
International audience
Deadlock in corporate governance: Finding a common strategy for private telephone companies, 1978–1998
2017
This paper looks at how a group of small, incumbent private telephone companies complied with the international convergence of market structures. The existing research has mainly focused on large national incumbents, assuming a transition to multinational enterprise. This development process is often associated with privatisation policies and various institutional factors. The article tests these assumptions using a case study of the network of Finnish local telephone companies. It looks at the development of an interfirm network, its perspectives on the different phases of the deregulation process, and how the network tried to regenerate itself but failed to form a unified corporate struct…
Operating leverage and the cost of debt in European agri-food firms
2020
Aim of study: To analyse the effect that operating leverage exerts on the cost of debt of agri-food firms in Europe, both in isolation and indirectly through its other risk factors.Area of study: We used panel data made up of 18,360 European firms from 2009 to 2016 (146,880 observations).Material and methods: The data were extracted from the ORBIS database and EUROSTAT. The econometric approach was estimated by the Generalized Method of Moments.Main results: The results obtained confirm that operating leverage or cost structure, in addition to affecting the cost of debt, also affects the relationship between that cost and other sources of risk. More specifically, indebtedness, size, specifi…
Critical Exploration of Flexible Delivery
2020
This work-in-progress research article presents an introductory qualitative study on students' perceptions of a flexibly delivered, modular computer science course. Many contemporary approaches to education rely in various ways on flexible delivery of course content. This is often done to capitalize on modern technology and the web, and to put the student ‘in the center.' However, it is becoming manifest that these approaches may challenge both the students and the equity between them, making it important to understand the effects of flexible delivery in terms of the students. In the voice of our students, flexible delivery was seen as a largely positive approach, reducing stress, promoting…
Peer interaction and pioneering organizational form adoption : A tale of the first two for-profit stock exchanges
2021
Building on a historical case study on the first two stock exchanges to adopt the now globally dominant for-profit organizational form, the Stockholm Stock Exchange in 1993 and the Helsinki Stock Exchange in 1995, we argue that interaction among socially proximate peers contributes to pioneering organizational form adoption within an industry, particularly when such forms are introduced by established organizations. Peer interaction can induce a search for technically efficient organizational forms through the sharing of collective experiences, the establishment of collective assumptions, and a joint search for solutions. Together, these factors contribute to the legitimization of novel or…
Change, Resistance to Change and Organizational Cynicism
2016
Abstract Over the past decades, the focus of the scientists has shifted towards the area of organizational change. The concept has been approached from several perspectives and studied by numerous disciplines and refers to a shift or transformation of an organization, of several components of the organization or of the processes that lie within. Being in an environment characterized by competitiveness and complexity, organizations are under a constant need of change, of progress, while the aim of each change is to improve the aspects that make this happen. The dynamics of the labour force market has contributed to the creation of an environment in which organizations are permanently facing …
The Effect of Islamic Work Ethics on Work Outcomes
2010
This study was conducted to investigate the effect of Islamic work ethic on work outcomes (job satisfaction, organizational commitment and turnover intention). The study used a sample of 49 employees from 10 institutions of Islamic microfinance in Demak regency, Central Java Indonesia. The empirical testing indicates that Islamic work ethic has positive effects on both job satisfaction and organizational commitment; whereas there is no significant evidence of the effect of Islamic work ethic on turnover intention. Implication, limitation and suggestion for future research are discussed.
Do Powerful CEOs Determine Microfinance Performance?
2012
Authors version of an article published in Journal of Management Studies. The definitive version is available from Wiley at: http://dx.doi.org/10.1111/j.1467-6486.2012.01046.x Recently, microfinance has been coming under public and media attacks. The microcredit crisis following from microfinance-induced suicides in 2010 in the Indian state of Andhra Pradesh indicates that weak corporate governance and imprudent risk taking have far-reaching consequences. Yet, analyses of corporate governance mechanisms among microfinance institutions (MFIs) remain underdeveloped. As a response, this study examines the impact of CEO power on MFI risk taking by deriving explicit predictions of this effect fr…
Functional a posteriori error estimates for boundary element methods
2019
Functional error estimates are well-established tools for a posteriori error estimation and related adaptive mesh-refinement for the finite element method (FEM). The present work proposes a first functional error estimate for the boundary element method (BEM). One key feature is that the derived error estimates are independent of the BEM discretization and provide guaranteed lower and upper bounds for the unknown error. In particular, our analysis covers Galerkin BEM and the collocation method, what makes the approach of particular interest for scientific computations and engineering applications. Numerical experiments for the Laplace problem confirm the theoretical results.
Differences in wage determination in the Eurozone: A challenge to the resilience of the common currency
2019
Abstract Different developments in wages and unit labor costs across countries can reduce the synchronization of business cycles within a currency area and therefore be a potential source of asymmetric shocks and/or asymmetric response to a common shock. In this paper, we use novel econometric methods to identify differences and similarities in wage determination across Eurozone countries. Results show that wages have different determinants across euro area countries, among which two relatively distinct groups can be identified. In particular, wages in Germany, Austria, Belgium, Luxembourg, the Netherlands and Finland behave more similarly, are less sticky and respond more to macroeconomic …