Irish Credit Unions: Differential Regulation based on Business Model Complexity

This study examines the business model complexity of Irish credit unions using a latent class approach to measure structural performance over the period 2002 to 2013. The latent class approach allows the endogenous identification of a multi-class framework for business models based on credit union specific characteristics. The analysis finds a three class system to be appropriate with the multi-class model dependent on three financial viability characteristics. This finding is consistent with the deliberations of the Irish Commission on Credit Unions (2012) which identified complexity and diversity in the business models of Irish credit unions and recommended that such complexity and diversity could not be accommodated within a one size fits all regulatory framework. The analysis also highlights that two of the classes are subject to diseconomies of scale. This may suggest credit unions would benefit from a reduction in scale or perhaps that there is an imbalance in the present change process. Finally, relative performance differences are identified for each class in terms of technical efficiency. This suggests that there is an opportunity for credit unions to improve their performance by using within-class best practice or alternatively by switching to another class.

From Crisis to Opportunity: Turnaround Strategies of Large Irish Construction Contractors During the Period 2007-2015.

The sudden change in environmental munificence level in the construction sector
during the period 2007 – 2015 provides a natural experiment to investigate strategic
and operating actions of firms, particularly during an environmental jolt. Statistics on
business failures corroborate that neither academics nor practitioners have succeeded
in guiding strategic action during periods of environmental jolt. Despite the recent
increase of turnaround research in the general management domain, its use in the
construction management realm remains underexplored. To address this research
gap, five exploratory case studies of an ongoing PhD study were used to examine the
turnaround strategies of construction contractors during a period of economic
contraction and growth. The findings show that, although retrenchment is often
considered to be a short-term strategy, this is clearly not the case; with the majority of
contractors maintaining the strategy for 6-7 years. During the same period,
internationalization became critical, with the turnaround process shifting towards
strategic reorientation that altered the firms' market domain. The case studies further
suggest that strategic and operational actions resonate quite well with contemporary
practice-based approaches to strategy making. The findings provide valuable
assistance for construction contractors in dealing with organisational decline and in
developing a successful turnaround response.