External monitoring, managerial ownership and form performance in Malaysian capital market: a GMM based panel data approach

This study re-examines whether the structure of share ownership by both directors and institutional ownership provides explanation for firm performances. These relationships are modelled and estimated using GMM based dynamic panel data over a period from 1997 to 2001 with a sample of 100 CI components companies listed on Main Board of Malaysia. The findings provide strong evidence of simultaneity between firm performance and managerial ownership. Although an insignificant relationship between firm performance and institutional ownership is~ observed, the institutional holdings provide strong substitute for managerial ownership with a strong negative relationship between managerial ownership and institutional ownership. This is in line with the managerial incentive hypothesis, which suggests that manager's share in the firm's ownership leads to better performance and the monitoring substitute hypothesis, which suggests that managerial ownership could be effectively replaced by institutional ownership.

Applicability of leisure theory in managerial views on volunteerism in a volunteer managed nonprofit organisation : some preliminary findings

This paper explores whether a leisure perspective explains volunteer  motivations as perceived by managers of one event-based nonprofit  organisation - Victoria’s Open Garden Scheme. The results identify that a leisure perspective does not explain all motivations, as some volunteers are socially motivated by a desire to give back to their community. Other  motivations are less positive and less voluntary than is expected of leisure and volunteering in a traditional context. Suggestions are made for further research and managerial implications in regards to managing volunteers.

Middle managerial careers in the 21st century

Managerial careers no longer conform to traditional career paths, progressing within the hierarchical structure of one or two organisations. Instead, organisational restructuring and changed business practices have impacted middle managers' job security and the need to take personal responsibility for their careers. Concurrently. the nature ofmiddle managerial work has altered - bringing increasing intensity and a requirement to manage within new workplace practices such as flexibility initiatives and short-term managerial contracts. These changes have implications for how human resource professionals both attract and retain talented managers. This paper argues for a critical re-consideration ofthe distinct nature ofmiddle managerial careers.

Managerial ownership concentration and agency conflict using logistic regression approach : evidence from Bursa Malaysia

This paper adopted logistic regression model to examine the relationship between level of managerial ownership concentration and agency conflict which are proxied by level of risk, firms leverage and firms dividend policy. The study covers a period of 5 years from 1997 through 2001. The study is based on the 100 blue-chip stocks, majority of which are derived from CI components. The findings suggest a positive and significant association between level of level of risk at lower level and managerial ownership while a negative and significant association is also evidenced between risk at higher level and managerial ownership concentration. While debt policy which serves as positive monitoring substitute for agency conflict is found to be positive and significant explaining the level of ownership concentration. Furthermore, dividend policies, which also serve as monitoring, substitute to reduce agency conflict between manager and external shareholders do not appear to have any significant impact on managerial ownership. On the other hand, the level of institutional ownership, which serves as external monitoring force, is found to have inverse impact on level of managerial ownership concentration. This is marginally significant at 10 level (p=.12). The findings, in part explain the argument that the managerial ownership help reduce agency conflict between outside equity holders and managers.

The moral reasoning abilities of Australian and Malaysian accounting students : a comparative analysis

If national culture is a significant determinant of ethical attitudes, it is not unreasonable to expect ethical decision-making to be influenced by one's culture. However, problems arise when the notion of right differs from one culture to another. The question addressed in this paper is whether the moral reasoning abilities of Australian and Malaysian accounting students in their final year of study differ because of their cultural upbringing. This study uses primary data collected from 34 final year accounting students (12 Australian and 22 Malaysian) enrolled in an Australian degree program. The test scores collected at the beginning and end of the academic year indicate that culture and other explanatory variables do not have an affect on students' moral judgment. The findings in this study suggest that culture as an independent variable does not influence the way accounting students analyse and resolve ethical dilemmas.

The effect of organisational culture perceptions on the relationship between budgetary participation and managerial job-related outcomes

We examine the impact of managers' perceptions of their organisational culture (OC) on the relationship between budgetary participation (BP) and managerial job-related outcomes, operationalised as managerial performance and job-related tension (JRT). Does the relationship between BP and job-related outcomes would depend on managers' perceptions of innovation and attention to detail? Data supported predictions that increasing BP would lower JRT for managers perceiving a high emphasis on innovation within their OC, regardless of their perceptions of an emphasis on attention to detail. When managers perceived low innovation, however, their perception of level of attention to detail had a significant effect on the relationship between BP and JRT. More specifically, increasing BP was found to decrease JRT for managers who perceived low innovation and low attention to detail. For managers who perceived low innovation and high attention to detail, however, this effect was attenuated. Finally, the positive relationship between BP and managerial performance was not found to he affected significantly by managers' OC perceptions.

MUSTe method for quantifying virtual environment training system efficacy

In the current era increased attention and interest of utilizing advanced computer technologies for training and education at all managerial levels and functional areas is apparent. One of such technologies, virtual environment (VE), is perceived to be effective in enhancing human abilities to learn abstract concept and complex procedural tasks. Despite its adaptation for training and fast-paced technological advancements, ways in which to evaluate efficacy of such technology are unclear. We have approached this problem by developed a new evaluation method focus on cognitive, affective and skillbased learning dimensions, based on traditional usability evaluation methods but tailored to specifically suit for the quantification of 3D VE system. We first describe the construct of the new method and then report a study utilizing the method in the context of quantifying a VE efficacy in an object assembly task. At last, we discuss the implications of such a method.

Spoken language and speech perception abilities in deaf children

Despite early diagnosis, early fitting of more advanced sensory aids, early intervention, and intensive educational management, many children with severe to profound hearing loss are delayed in their acquisition of spoken language compared with their peers with normal hearing. More...Some of the greatest challenges facing educators of deaf children include determining where to focus intervention in order to maximise benefit, and establishing the most effective strategies for the development of age-appropriate language. The experimental research in this book examined the relationship between hearing, speech production, and vocabulary knowledge, and investigated the contributions of these factors to the overall speech perception performance of deaf children. This research also investigated the areas in which intervention would be most beneficial, and examined the effects of different types of intervention on the development of spoken language and speech perception skills in deaf children. The evaluation, analysis and intervention methods reported in this book provide an experimentally validated program for improving speech perception, speech production and spoken language skills of deaf children.

Managerial approaches to deal with corruption and bribery in a host country

This paper discusses two current managerial approaches in dealing with corruption and bribery in a multinational business context, namely the 'when in Rome approach' and 'the legal compliance approach'. It briefly revisits the impact of corruption on business and society and proposes a third approach, that is, 'stakeholder compliance approach' on part of multinational business managers in dealing with corruption/bribery.