Essays on Personal Bankruptcy Law and Small Business Financing

Thesis (Ph.D.)--University of Washington, 2016-06

International human resource management:review and critique

The research agenda for the field of international human resource management (IHRM) is clear. For a better understanding and to benefit substantially, management scholars must study IHRM in context (Jackson, S.E. and Schuler, R.S. 1995. Understanding human resource management in the context of organizations and their environment. Annual Review of Psychology, 46: 237–264; Geringer, J.M., Frayne, C.A. and Milliman, J.F. 2002. In search of 'best practices' in international human resource management: research design and methodology. Human Resource Management, forthcoming). IHRM should be studied within the context of changing economic and business conditions. The dynamics of both the local/regional and international/global business context in which the firm operates should be given serious consideration. Further, it could be beneficial to study IHRM within the context of the industry and the firm's strategy and its other functional areas and operations. In taking these perspectives, one needs to use multiple levels of analysis when studying IHRM: the external social, political, cultural and economic environment; the industry, the firm, the sub-unit, the group, and the individual. Research in contextual isolation is misleading: it fails to advance understanding in any significant way (Adler, N.J. and Ghadar, E. 1990. Strategic human resource management: a global perspective. Human Resource Management in International Comparison. Berlin: de Gruyter; Locke, R. and Thelen, K. 1995. Apples and oranges revisited: contextualized comparisons and the study of comparative labor politics. Politics & Society, 23, 337–367). In this paper, we attempt to review the existing state of academic work in IHRM and illustrate how it incorporates the content and how it might be expanded to do so.

A note on the modelling the efficiency of top Arab banks

The major aim of this research is benchmarking top Arab banks using Data Envelopment Analysis (DEA) technique and to compare the results with that of published recently in Mostafa (2007a,b) [Mostafa, M. M. (2007a). Modeling the efficiency of top Arab banks: A DEA–neural network approach. Expert Systems with Applications, doi:10.1016/j.eswa.2007.09.001; Mostafa M. M. (2007b), Benchmarking top Arab banks’ efficiency through efficient frontier analysis, Industrial Management & Data Systems, 107(6) 802–823]. Data for 85 Arab banks used to conduct the analysis of relative efficiency. Our findings indicate that (1) the efficiency of Arab banks reported in Mostafa (2007a,b) is incorrect, hence, readers should take extra caution of using such results, (2) the corrected efficiency scores suggest that there is potential for significant improvements in Arab banks. In summary, this study overcomes with some data and methodology issues in measuring efficiency of Arab banks and highlights the importance of encouraging increased efficiency throughout the banking industry in the Arab world using the new results.

Stakeholder relationships in an international retailing context:an investment bank perspective

Purpose - In the stakeholder marketing literature, there have been calls by several researchers to expand the stakeholder domain to incorporate a broader array of stakeholders. In developing this argument in this paper the authors aim to explore a set of stakeholder relationships in an international retailing context, notably those which exist between retail firms and investment banks. Design/methodology/approach - Theoretical ideas are subject to empirical scrutiny from 34 in-depth interviews with investment banks and senior retail executives from two retail multinationals. Findings - Exploratory findings suggest that US investment banks' ideals were at odds with European retail firms - and both occupied "different thought worlds". It is concluded that the relationships between financial stakeholders and the retail firm cannot be explained simply by reference to stylised economic interactions, but must also be examined in the light of the cultural contexts and different forms of market system within which different firms emerge, operate and interact. Originality/value - New strategies such as internationalisation stretch resources and capabilities to a point where retailers invariably will be exposed to different stakeholder issues and stresses. Towards this end, this paper contends that the significant international re-orientation under way in retailing must be understood within the wider context of stakeholder theory. The paper argues that the full potential of applying stakeholder marketing theory to the internationalisation process of retailers has yet to be realised. From this exploratory research, five research propositions are put forward that might serve as a guide to future research in this area. © Emerald Group Publishing Limited.

The nature of international retail divestment:Insights from Ahold

Purpose - This paper aims to explore the nature of divestment within the context of retailer internationalisation. Design/methodology/approach - It focuses on the activities of the Dutch food multinational retailer Royal Ahold (Ahold). Drawing on 37 in-depth interviews with investment banks and executives, this paper provides a number of insights into Ahold's international retail divestment activities within the context of a broadly successful international investment strategy. Findings - It offers some new insights into the multidimensional nature of international retail divestment construct in terms of the operational as well as more subtle and less visible non-operational international retail divestments. It is concluded from this study that, rather than portraying strategic and opportunistic approaches as binary opposites, a retail firm may have varying degrees of approaches to international retail divestment, and these may not necessarily be isomorphic across different countries. Research limitations/implications - The paper explores international retail divestment from a rather broad perspective, although it is hoped that these parameters can be used to raise a new set of more detailed priorities for future research on international retail divestment. Practical implications - This paper raises a number of interesting issues such as whether retailers initially take divestment seriously and the degree to which this is actually possible during market entry. Originality/value - As called for in the literature, this study examines divestment in the broadest possible fashion, thus addressing a major gap in our understanding of the whole internationalisation process. © Emerald Group Publishing Limited.

International handbook on privatization

Privatization has dominated industrial restructuring programs since the 1980s and continues to do so. This authoritative and accessible Handbook considers all aspects of this key issue, including the theory of privatization; privatization in transition, developed and developing economics; as well the economic regulation of privatized industries. The studies in this volume, introduced by international experts in the field 'presents evidence of the scope and effects of privatization, and consequently provide the basis for improving both policy formulation and implementation. However, they also emphasize that privatization is not an end in itself. It is argued that for privatization to be worthwhile and for lasting economic efficiency gains to be achieved, supporting reforms must accompany most privatization programs, particularly in the arenas of corporate governance and capital markets, product market competition, and state regulatory processes. Furthermore, several contributions demonstrate that the degree to which ownership and market liberalization can be usefully separated, and whether privatization without either competition or effective regulation is worthwhile, remain controversial issues. Furnishing the reader with a comprehensive and lively discussion of privatization in theory and practice, this Handbook will be the essential source of information for researchers in the field, and for a wide-ranging audience including public policy makers and specialists, development experts and agencies, international banks, public policy and regulation economists, and management consultants.

Credit and collateral

Collateral - generally defined as an asset used to provide security for a lender's loan - is an important feature of credit contracts and all the available evidence suggests that its use is getting more pervasive. This informative book builds upon recent research into this topic. Sena analyses three case-studies that revolve around the impact that financial constraints have on economic outcomes. In the first case-study, the relationship between firms' technical efficiency and increasing financial pressure is explored. The author then goes on to show, in the second case study, that under specific circumstances, increasing financial pressure and increasing product market competition can jointly have a positive impact on firms' technical efficiency, while not being true for all types of firms. In the third case, she analyses the impact that finance constraints have on women's start-ups. Unique and revealing, this is the first book to deal so extensively with the topic of collateral, and as such, is a valuable reference to postgraduates and professionals in the fields of macroeconomics, monetary and business economics. © 2008 Vania Sena. All rights reserved.

West German bank advertising and the East German public:a study in intercultural advertising communication

In the wake of German unification, initial advertising by many West German companies in the new federal states (the former German Democratic Republic - GDR) proved largely ineffective and many advertisers were forced to change their approach to this new market. The advertising task proved even more complicated for banks, because banking existed only at the most basic level in the former GDR. Furthermore, under the old regime, "capitalist" banks represented the very antithesis of the GDR's founding ideology. This analysis of advertising by West German banks - in particular Dresdner Bank - in the new federal states brings together elements of discourse and communication theory, particularly Relevance Theory [Sperber and Wilson 1986], with the overall objective of designing a model of intercultural advertising communication. A series of simple association tasks based on texts from pre-Wende advertisements was completed by a sample of advertisees (as they are called in the study) in Leipzig. The research shows the lack of relevance between the advertiser's understanding of concepts such as "credit", "bank" etc. and the associations which these concepts have for the sample of advertisees. Further analysis reveals that this lack of relevance occurs because advertisers and advertisees assign differing contexts to these concepts when they communicate through advertising. The study concludes that these different contexts, governed by the contrasting ideological, economic and linguistic environments of the advertisers and advertisees, interfere with the effective communication of the advertising message.

The link between HR practices, psychological contract fulfillment, and organizational performance:the case of the Greek services sector

The purpose of this study is to investigate the impact of human resource (HR) practices on organizational performance through the mediating role of psychological contract (expressed by the influence of employer on employee promises fulfillment through employee attitudes). The study is based on a national sample of 78 organizations from the public and private services sector in Greece, including education, health, and banking, and on data obtained from 348 employees. The statistical method employed is structural equation modeling, via LISREL and bootstrapping estimation. The findings of the study suggest that employee incentives, performance appraisal, and employee promotion are three major HR practices that must be extensively employed. Furthermore, the study suggests that the organization must primarily keep its promises about a pleasant and safe working environment, respectful treatment, and feedback for performance, in order for employees to largely keep their own promises about showing loyalty to the organization, maintaining high levels of attendance, and upholding company reputation. Additionally, the study argues that the employee attitudes of motivation, satisfaction, and commitment constitute the nested epicenter mediating construct in both the HR practices–performance and employer–employee promise fulfillment relationships, resulting in superior organizational performance. © 2012 Wiley Periodicals, Inc.

Introduction : the role of quality, production and technological innovation in improving competitive performance

Quality, production and technological innovation management rank among the most important matters of concern to modern manufacturing organisations. They can provide companies with the decisive means of gaining a competitive advantage, especially within industries where there is an increasing similarity in product design and manufacturing processes. The papers in this special issue of International Journal of Technology Management have all been selected as examples of how aspects of quality, production and technological innovation can help to improve competitive performance. Most are based on presentations made at the UK Operations Management Association's Sixth International Conference held at Aston University at which the theme was 'Getting Ahead Through Technology and People'. At the conference itself over 80 papers were presented by authors from 15 countries around the world. Among the many topics addressed within the conference theme, technological innovation, quality and production management emerged as attracting the greatest concern and interest of delegates, particularly those from industry. For any new initiative to be implemented successfully, it should be led from the top of the organization. Achieving the desired level of commitment from top management can, however, be a difficulty. In the first paper of this issue, Mackness investigates this question by explaining how systems thinking can help. In the systems approach, properties such as 'emergence', 'hierarchy', 'commnication' and 'control' are used to assist top managers in preparing for change. Mackness's paper is then complemented by Iijima and Hasegawa's contribution in which they investigate the development of Quality Information Management (QIM) in Japan. They present the idea of a Design Review and demonstrate how it can be used to trace and reduce quality-related losses. The next paper on the subject of quality is by Whittle and colleagues. It relates to total quality and the process of culture change within organisations. Using the findings of investigations carried out in a number of case study companies, they describe four generic models which have been identified as characterising methods of implementing total quality within existing organisation cultures. Boaden and Dale's paper also relates to the management of quality, but looks specifically at the construction industry where it has been found there is still some confusion over the role of Quality Assurance (QA) and Total Quality Management (TQM). They describe the results of a questionnaire survey of forty companies in the industry and compare them to similar work carried out in other industries. Szakonyi's contribution then completes this group of papers which all relate specifically to the question of quality. His concern is with the two ways in which R&D or engineering managers can work on improving quality. The first is by improving it in the laboratory, while the second is by working with other functions to improve quality in the company. The next group of papers in this issue all address aspects of production management. Umeda's paper proposes a new manufacturing-oriented simulation package for production management which provides important information for both design and operation of manufacturing systems. A simulation for production strategy in a Computer Integrated Manufacturing (CIM) environment is also discussed. This paper is then followed by a contribution by Tanaka and colleagues in which they consider loading schedules for manufacturing orders in a Material Requirements Planning (MRP) environment. They compare mathematical programming with a knowledge-based approach, and comment on their relative effectiveness for different practical situations. Engstrom and Medbo's paper then looks at a particular aspect of production system design, namely the question of devising group working arrangements for assembly with new product structures. Using the case of a Swedish vehicle assembly plant where long cycle assembly work has been adopted, they advocate the use of a generally applicable product structure which can be adapted to suit individual local conditions. In the last paper of this particular group, Tay considers how automation has affected the production efficiency in Singapore. Using data from ten major industries he identifies several factors which are positively correlated with efficiency, with capital intensity being of greatest interest to policy makers. The two following papers examine the case of electronic data interchange (EDI) as a means of improving the efficiency and quality of trading relationships. Banerjee and Banerjee consider a particular approach to material provisioning for production systems using orderless inventory replenishment. Using the example of a single supplier and multiple buyers they develop an analytical model which is applicable for the exchange of information between trading partners using EDI. They conclude that EDI-based inventory control can be attractive from economic as well as other standpoints and that the approach is consistent with and can be instrumental in moving towards just-in-time (JIT) inventory management. Slacker's complementary viewpoint on EDI is from the perspective of the quality relation-ship between the customer and supplier. Based on the experience of Lucas, a supplier within the automotive industry, he concludes that both banks and trading companies must take responsibility for the development of payment mechanisms which satisfy the requirements of quality trading. The three final papers of this issue relate to technological innovation and are all country based. Berman and Khalil report on a survey of US technological effectiveness in the global economy. The importance of education is supported in their conclusions, although it remains unclear to what extent the US government can play a wider role in promoting technological innovation and new industries. The role of technology in national development is taken up by Martinsons and Valdemars who examine the case of the former Soviet Union. The failure to successfully infuse technology into Soviet enterprises is seen as a factor in that country's demise, and it is anticipated that the newly liberalised economies will be able to encourage greater technological creativity. This point is then taken up in Perminov's concluding paper which looks in detail at Russia. Here a similar analysis is made of the concluding paper which looks in detail at Russia. Here a similar analysis is made of the Soviet Union's technological decline, but a development strategy is also presented within the context of the change from a centralised to a free market economy. The papers included in this special issue of the International Journal of Technology Management each represent a unique and particular contribution to their own specific area of concern. Together, however, they also argue or demonstrate the general improvements in competitive performance that can be achieved through the application of modern principles and practice to the management of quality, production and technological innovation.

Efficiency analysis of Islamic banks:a case of Gulf Cooperation Council (GCC)

Although considerable effort has been invested in the measurement of banking efficiency using Data Envelopment Analysis, hardly any empirical research has focused on comparison of banks in Gulf States Countries This paper employs data on Gulf States banking sector for the period 2000-2002 to develop efficiency scores and rankings for both Islamic and conventional banks. We then investigate the productivity change using Malmquist Index and decompose the productivity into technical change and efficiency change. Further, hypothesis testing and statistical precision in the context of nonparametric efficiency and productivity measurement have been used. Specially, cross-country analysis of efficiency and comparisons of efficiencies between Islamic banks and conventional banks have been investigated using Mann-Whitney test.

Editorial:welcome to the LRN2004 annual conference special issue of the International journal of logistics: research and applications

It is a great pleasure to be Guest Editor for this issue – I hope that the papers which are included will be stimulating and support you in your ongoing research activities. A number of guiding principles were adopted in selecting the papers for inclusion in this issue. Firstly, the papers cover a wide range of logistics and supply chain management (SCM) topics. This is a reflection of the evolution of the field in recent years. In terms of the “buy-make-store-move-sell” model of SCM all the main constituent areas are addressed. Secondly, it is important that the conference issue of this Journal reflects the emphasis and content of the conference itself. I have tried to achieve this in terms of the papers included. One interesting point to note is that outsourcing is a theme which is a major issue in a number of papers. This reflects the increasing importance of this issue to organisations of all kinds and sizes. Economic globalisation and the trend towards vertical disintegration of supply chain architectures have sharpened the focus on outsourcing as a key element of supply chain strategy. The need to move beyond the notion that sourcing of certain activities can be some kind of panacea in evident from the relevant contributions. Thirdly, the LRN Annual Conference has become a more international event in recent years...the number of delegates and papers presented from outside the UK has continued to grow. The papers collected in this issue reflect this internationalization. Two papers are worthy of particular comment from an LRN perspective. The contribution by Jaafar and Rafiq has been developed from the submission which won the best paper prize at the LRN 2004 event. The paper by Pettit and Beresford is based on research which was supported by LRN seed corn funding. It was developed form the final report on this work submitted to CITL (UK) via the LRN. The seed corn funding is an important mechanism whereby the LRN supports research in innovative aspects of logistics in UK universities. In many ways, the LRN2004 event in Dublin seems like a long time ago. From my point of view it was one of the most professionally rewarding activities in which I have been involved in my career. It was a time to meet old friends and new and to keep abreast of the multitude of interesting projects being undertaken in over 20 countries. There are too many people to thank for the smooth running of the event. However, my colleague John Mee does warrant a special mention. His logistical skills were seriously put to the test in the weeks and months leading up to September 9th. 2004. I want to acknowledge his particular contribution to the success of the event. Since then we have had the 2005 event at the University of Plymouth. This was again a great opportunity to network with colleagues and many congratulations are due to John Dinwoodie and his team. We now look forward to LRN 2006 in Newcastle...form my part I hope and trust that this issue provides some useful perspectives and insights into the range of topics addressed.

The influence of culture and market orientation on services brands:insights from Irish banking and retail firms

Purpose: This paper aims to examine the influence of the culture of the service firm on its interpretation of the role of the brand and on the development and implementation of its brand values. Design/methodology/approach: A grounded theory approach was used. Interviews were conducted with 20 managers within two leading banking firms in Ireland and two leading grocery retailers in Ireland. Findings: The development of the brand, and its role within the firm, is closely related to the firm's culture. The research shows obstacles and opportunities created by the cultural context of firms wishing to disseminate and embed a set of brand values. The paper presents an "involvement model" of brand values implementation and outlines changes required to implement brand values. Research limitations/implications: The study was bound by access to firms, and managers' availability. The authors sought an insight into the relationship between each firm's culture and its brands. They advocate quantitative research to further investigate the findings within these service sectors and to test proposed antecedents (transformational leadership, employee involvement) and outcomes (employee-based brand equity and consumer-based brand equity) of values adoption. Practical implications: The paper identifies aspects of retail and banking cultures which support or detract from brand development. In particular, it presents the learnings from successful brand values implementation in a clan culture, aspects of which are applicable across other cultures. Originality/value: The paper provides valuable insights into the role of the brand within the service firm and the positive and negative influence of context on brand values and their development and implementation. © Emerald Group Publishing Limited.

A jelzálogpiaci válság és a Közép-Kelet-Európában aktív nagybankok részvényárfolyama (The impact of the subprime crisis on the banks being active in Central and Eastern Europe)

Tanulmányunkban azt vizsgáljuk, hogy a jelzálogpiaci válsághoz köthető hírek milyen hatással vannak a Közép-Kelet-Európában aktív nagybankokra. A vizsgálathoz tíz Közép-Kelet-Európában aktív, tőzsdei nagybankot választottunk ki, amelyek közül hat nyugat-európai, míg négy közép-kelet-európai székhelyű bank volt. A tíz pénzintézettel kapcsolatosan 128 hírt gyűjtöttünk össze a 2007. június 1. és 2009. december 31. közötti időszakból. A híreket öt kategóriába csoportosítottuk, és az egyes kategóriáknak a részvényárfolyamokra gyakorolt, rövid távú hatását külön vizsgáltuk. Számításaink alapján a jelzálogpiaci válság során a befektetők pozitívan fogadták az állami feltőkésítéssel kapcsolatos bejelentéseket és a kielégítő védelmet nyújtó, átfogó kormányzati bankmentő csomagokat. A veszteségekkel, a leminősítéssel és az ECB intézkedéseivel kapcsolatos hírek esetén rövid távon nem tudtunk szignifikáns hatást kimutatni. A kutatás során a hírek számosságában igen, de a hírek által kiváltott hatás nagyságrendjében nem észleltünk jelentős különbséget a nyugat-európai és a középkelet- európai bankok között. ______ The research measures the impact of the subprime crisis on the shareholders of the banks being active in Central and Eastern Europe. The analysis focuses on the ten largest banks of the region measured by the asset size. The authors address the question whether the crisis affected more signifi cantly the large banks headquartered in Western Europe or the banks domiciled in Central and Eastern Europe. With the aim of capturing the short-term impact of various news on the shareholders of the banks, the popular event-study methodology with a one-day event window is employed. Within the period of 1 June 2007 and 31 December 2009, altogether 128 news were collected and grouped into fi ve categories (downgrades, loss, capital strengthening, governmental rescue packages, interventions of the ECB). Among others, the authors found empirical evidence that the shareholders appreciated the interventions of the governments: their capital injections resulted in signifi cant positive abnormal returns. Governmental rescue packages also resulted in signifi cant abnormal returns in the share price, however, the sign of the returns was unambiguous. No empirical evidence was found that in the short run the news in connection with loss announcements, downgrades and ECB interventions resulted in signifi cant abnormal returns. We concluded that although Western European banks and banks domiciled in Central and Eastern Europe differed in the number of news announced, the crisis affected the banks in both regions in a similar manner.

International Sales of UK Television Content: Change and Continuity in ‘the space in between’ Production and Consumption

Focusing on the UK, this article addresses key issues facing the international distribution industry arising from over-the-top digital distribution and the fragmentation of audiences and revenues. Building on the identification of these issues, it investigates the extent to which UK distribution has altered over a ten-year period, pinpointing continuities in the destination and type of sales alongside changes in the role and structure of the industry as UK-based distributors adapt to a changing UK broadcasting landscape and global production environment. At one level increasing US ownership of UK-based distributors and the arrival of OTT players like Netflix, highlight the tensions between the national orientations of UK broadcasters and the global aspirations of independent producers and distributors. At another level VOD has boosted international sales of UK drama. Although the full impact of SVOD on content and rights has yet to materialise, significant changes in the industry predate the arrival of SVOD.