The long-run performance of IPOs: the case of the Stock Exchange of Mauritius

This study examines the long-run performance of initial public offerings on the Stock Exchange of Mauritius (SEM). The results show that the 3-year equally weighted cumulative adjusted returns average −16.5%. The magnitude of this underperformance is consistent with most reported studies in different developed and emerging markets. Based on multivariate regression models, firms with small issues and higher ex ante financial strength seem on average to experience greater long-run underperformance, supporting the divergence of opinion and overreaction hypotheses. On the other hand, Mauritian firms do not on average time their offerings to lower cost of capital and as such, there seems to be limited support for the windows of opportunity hypothesis.

Electronic commerce in agriculture and agribusiness: the case of Emilia-Romagna (Italy )

Despite the expectations of the benefits of this tool, the adoption of Electronic Commerce (EC) by small and medium firms of the agro-food sector in Italy is still not frequent, however, the understanding of opportunities it could create and how they can be exploited remains a relevant issue. This study, carried out in the Emilia -Romagna region during 2002, illustrates the results of a survey of 208 firms at all stages of the agro-food chain aimed at understanding the use of the Internet and the strategies adopted for EC implementation. The results show a low level of implementation of the instrument and a limited variety of adoption strategies. Agro-food firms actually invest very little in EC focusing their efforts on the Internet as promotion tool, while web-based direct selling is confined to market niches. The view that the Internet would reverse the disadvantages of small firms appears by now non realistic, even if interesting opportunities for further development are still present.

Voluntary export restraints between Britain and Japan: the case of the UK car market (1971–2002)

The rise in international markets of new, productive Japanese car manufacturers provoked intense world competition, which created serious doubts about the economic sustainability of an industry mostly dominated until the 1970s by European and North-American multinational companies. Ultimately, this crisis provoked a deep transformation of the industry, with consequences that had a permanent impact on European companies in the sector. American and later European manufacturers were successful in lobbying governments to provide protection. Using a rich source of data from the UK, I show that the ‘new trade policy’, voluntary export restraint (VER), placed on Japanese exports of new cars from 1977 to December 1999, was binding. This case study illustrates the strategies used by Japanese manufacturers to gain access to the European market through the UK market via strategic alliances and later through transplant production, against which continental European nation states were unable to fully insulate themselves. It is also shown that the policy had a profound effect on the nature of Japanese products, as Japanese firms responded to the quantity restraints by radically altering the product characteristics of their automobiles and shifting towards larger autos and new goods, to maximise their profits subject to the binding constraint.

Women’s Popular Cinema in Greece: the case of Olga Malea

This thesis examines the film comedies directed by Olga Malea and released between 1997 and 2007 in Greece, in order to make a claim for the study of women’s popular cinema in Greece and beyond. Women’s popular cinema refers to films which are thematically associated with women’s cinema while operating in popular forms, such as genre. Olga Malea and her work make for a useful case study, in that they encapsulate the relationship between these two broad categories of women’s cinema and popular cinema. In addition, this thesis claims that the two categories inflect one another in interesting ways, and their intersections act as a productive framework for the analysis of women’s cinema as popular cinema, effecting a popularisation of usually marginalised themes. The introduction to this work primarily outlines the theoretical frameworks for the argument that follows, namely: women’s cinema and feminist theory; discussions around popular cinema; and considerations about authorship. The concept of national film cultures and its possible meaning in relation to Greece is also alluded to as a contextual factor. Each subsequent chapter advances the argument for women’s popular cinema through close textual analysis of the films in chronological order of their release. In particular, the analysis identifies recurrent strands and motifs in the director’s oeuvre, such as tensions between tradition and modernity, and the pervasive nature of patriarchy in informing national gender discourses. Having established the argument that women’s popular cinema is productive in popularising women’s cinema itself, the thesis concludes that, in the work of Olga Malea, its themes are conceived of, represented and perceived as prominent in the country during the period examined – and one can finally address women’s cinema as popular.

Developing temporary manufacturing facilities for residential building: a case of the modern flying factory

The building industry is often berated for its short comings in meeting up with the demand for the provision of new housing. Addressing the need for new housing stock is a challenge that has led to debates among professional bodies, the construction sector, housing industry and government. The introduction of new manufacturing technologies is often offered as a solution, but the challenges of increasing the amount of off-site construction in residential building are well known and well-rehearsed. The modern flying factory (MFF) is a concept that involves the manufacture of specific components or modules in temporary off- or near- site locations using relatively simple and quick to set up and dismantle technologies and processes. The aim is to produce short batches and hence achieve some of the benefits of off-site manufacture on a much smaller scale than in dedicated factory environments. A case study of a modern flying factory being set up to produce pre-assembled utility cupboards for a large residential development in London is presented, involving participant observation and informal interviews with key actors on the design and operationalising of the process. The case reveals that although there are costs, efficiency and health and safety benefits to using MFF approaches, there are also challenges to overcome over the time required to set up and establish the process for relatively short runs, and in evaluating whether the MFF or traditional site based production is most effective for particular aspects of projects.

Projecting social and discursive identities through code-switching on facebook: the case of Greek Cypriots

Two varieties of Greek are spoken on the island of Cyprus: the local dialect, namely the Greek-Cypriot Dialect (GCD), and Standard Modern Greek (SMG). English is also influential, as Cyprus was an English colony until 1960. The dialect is rarely employed for everyday written purposes; however, it is now evident in computer-mediated communication (CMC). As a contribution to the field of code-switching in writing, this study examines how Greek-Cypriot internet users employ GCD, SMG, and English in their Facebook interactions. In particular, we investigate how identities (discursive and social) are performed and indexed through the linguistic choices of Greek-Cypriot internet users. The findings indicate that switches to GCD add a humorous tone and express solidarity and informality. SMG is mostly used for ‘official’ statements, and it is preferred by mature internet users, while English is used with expressions of affect and evaluative comments.

Fashionline: CSR case of a U.K. fashion retailer

This paper presents findings from a corporate social responsibility (CSR) case-study of a UK fashion retailer informed through 22 multi-level internal and 5 external semi-structured interviews. Our research explores the relationship between various stakeholders and their perceptions of CSR issues. Sixteen themes emerge. We find disparity in CSR perceptions at different levels of organization and in views of consumers. Our recommendations are that the UK fashion retailer needs to – better understand normative purpose of CSR and in doing so balance social and environmental factors more equally; engage more widely at an early stage with broader stakeholders (global supply chain; consumers, employees, local populations, regulators, industry players); and better communicate (at different levels internally) along with integrate (external policy makers and with industry) design and implementation of CSR strategies. The authors conclude a gap remains for better CSR frameworks for the UK fashion retailer.

The dream’s door: a case of MNC in Poland

Globalisation inevitably led to attempts to transfer know‐how and expertise to markets in different locations and cultures, where the particular organisation is willing to begin to operate. Hence, the need for understanding the conditions for successful knowledge transfer is especially important. The globalisation process in the Eastern bloc, which began in 1990, is a good example of knowledge transfer where the mutual meaning creation played a crucial role. This case study illustrates the process of international knowledge transfer between Western Europe and an emerging economy using the example of DAK Corporation and quality transfer to Poland. The case is especially useful for undergraduate and postgraduate students, including MBA students, studying general management as well as more specialised courses stemming from international management, for example, cross‐cultural management and organisational behaviour. Since the material focuses on people management and development as well as organisational culture creation, current and future practitioners from the human resources department will find it particularly useful. Students considering a career in a multinational company can also use this case in their preparation for the challenges of operating in a global business environment.

Dickens, Hogarth and artistic perception: the case of Nicholas Nickleby

This essay considers the interest shared by William Hogarth and Charles Dickens on the idea of instrumentality in the art of realism. Taking his cue from eighteenth-century epistemological philosophy, Hogarth developed an idea of beauty and realism as insisting upon the need for human subjectivity or perspective. Naïve realism was a style that troubled both Hogarth and Dickens and both men developed forms in which caricature, melodrama and exaggeration is crucial to the development of verisimilitude. Considering the progress pieces and the writings of Hogarth as a preface to the style of Dickens, I argue that Nicholas Nickleby developed an extraordinary self-reflexivity. Both Nicholas and his uncle Ralph form part of a narrative study of the implications of filtering perception through the distorting lens of the individual.

Local authorities as niche actors: the case of energy governance in the UK

This paper draws from work conducted under the NERC-funded project 'Understanding energy governance at local and community levels'(Project Reference: NE/H013598/1). This project was a 24 month study carried out in collaboration with the UK Energy Research Council which began in April 2010. The particular workpackage from which these interviews were drawn specifically explores the role of local authorities in emerging energy and environmental responsibilities, paying particular attention to current institutional structures and how external forces and actors influence local authorities on their decision making and practices. It is concluded that whilst the role of local authorities has been changing in response to energy and environmental ‘landscape’ issues, their influence on the design and implementation of energy policy in the UK will correspondingly remain as an emerging process for the foreseeable future, with the more progressive local authorities continuing to exert political, social/cultural and technological influence over ways of designing, articulating, and engaging with energy governance at the local level.

Accrual-based and real earnings management before and after IFRS adoption: the case of Greece

Purpose – The purpose of this study is to examine the use of accrual-based vs real earnings management (EM) by Greek firms, before and after the mandatory adoption of International Financial Reporting Standards (IFRS). The research is motivated by the fact that past studies have indicated the existence of significant levels of EM for Greece in particular before IFRS. Design/methodology/approach – Accrual-based earnings management (AEM) is examined by assessing performance-adjusted discretionary accruals, while real earnings management (REM) is defined in terms of abnormal levels of production costs, discretionary expenses, and cash flows from operations, for a three-year period before and after the adoption of IFRS in 2005. Findings – The authors find evidence on a statistically significant shift from AEM to REM after the adoption of IFRS, indicating the replacement of one form of EM with the other. Research limitations/implications – The validity of the results depends on the ability of the empirical models used to efficiently capture the existence of AEM and REM. Practical implications – IFRS adoption aims to improve accounting quality, especially in countries with high need for such an improvement; however, the tendency to substitute one form of EM with another highlights unintended consequences of IFRS adoption, which do not improve the informational content of financial statements if EM continues under different forms. Originality/value – Under the expectation that IFRS adoption should lead to improvements in accounting quality, this study examines whether IFRS actually led to a reduction of EM practices for a country with exceptionally high levels of EM before IFRS, by accounting for all possible forms of EM.

Barriers to “industrialisation” for interwar British retailing? The case of Marks & Spencer Ltd.

Research on international differences in retail productivity has highlighted formidable environmental barriers to the ‘industrialisation’ of mass retailing as a driver of declining British interwar productivity growth in this sector (and in services more generally). We examine evidence for such barriers, using a case study of a firm that built its interwar expansion strategy on ‘American’ retail methods – Marks & Spencer (M&S). We find that, rather than facing barriers to the adoption of American mass retail practices, M&S reaped major productivity gains from this process. This adds further evidence to an emerging literature rejecting the barriers to industrialisation thesis for retailing.