ALBERT

All Library Books, journals and Electronic Records Telegrafenberg

Your email was sent successfully. Check your inbox.

An error occurred while sending the email. Please try again.

Proceed reservation?

Export
Filter
  • Blackwell Science Ltd
Collection
Years
  • 1
    Publication Date: 2020-11-19
    Description: We report on new stratigraphic, palaeomagnetic and anisotropy of magnetic susceptibility (AMS) results from the Amantea basin, located on-shore along the Tyrrhenian coast of the Calabrian Arc (Italy). The Miocene Amantea Basin formed on the top of a brittlely extended upper plate, separated from a blueschist lower plate by a low-angle top-to-the-west extensional detachment fault. The stratigraphic architecture of the basin is mainly controlled by the geometry of the detachment fault and is organized in several depositional sequences, separated by major unconformities. The first sequence (DS1) directly overlaps the basement units, and is constituted by Serravallian coarse-grained conglomerates and sandstones. The upper boundary of this sequence is a major angular unconformity locally marked by a thick palaeosol (type 1 sequence boundary). The second depositional sequence DS2 (middle Tortonian-early Messinian) is mainly formed by conglomerates, passing upwards to calcarenites, sandstones, claystones and diatomites. Finally, Messinian limestones and evaporites form the third depositional sequence (DS3). Our new biostratigraphic data on the Neogene deposits of the Amantea basin indicate a hiatus of 3 Ma separating sequences DS1 and DS2. The structural architecture of the basin is characterized by faulted homoclines, generally westward dipping, dissected by eastward dipping normal faults. Strike-slip faults are also present along the margins of the intrabasinal structural highs. Several episodes of syn-depositional tectonic activity are marked by well-exposed progressive unconformities, folds and capped normal faults. Three main stages of extensional tectonics affected the area during Neogene-Quaternary times: (1) Serravallian low-angle normal faulting; (2) middle Tortonian high-angle syn-sedimentary normal faulting; (3) Messinian-Quaternary high-angle normal faulting. Extensional tectonics controlled the exhumation of high-P/low-T metamorphic rocks and later the foundering of the Amantea basin, with a constant WNW-ESE stretching direction (present-day coordinates), defined by means of structural analyses and by AMS data. Palaeomagnetic analyses performed mainly on the claystone deposits of DSl show a post-Serravallian clockwise rotation of the Amantea basin. The data presented in this paper constrain better the overall timing, structure and kinematics of the early stages of extensional tectonics of the southern Tyrrhenian Sea. In particular, extensional basins in the southern Tyrrhenian Sea opened during Serravallian and evolved during late Miocene. These data confirm that, at that time, the Amantea basin represented the conjugate extensional margin of the Sardinian border, and that it later drifted south-eastward and rotated clockwise as a part of the Calabria-Peloritani terrane.
    Description: Published
    Description: 147-168
    Description: JCR Journal
    Description: reserved
    Keywords: paleomagnetism ; structural geology ; syn-sedimentary tectonics ; Amantea ; Calabria ; 04. Solid Earth::04.04. Geology::04.04.09. Structural geology ; 04. Solid Earth::04.04. Geology::04.04.10. Stratigraphy ; 04. Solid Earth::04.05. Geomagnetism::04.05.06. Paleomagnetism
    Repository Name: Istituto Nazionale di Geofisica e Vulcanologia (INGV)
    Type: article
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 2
    facet.materialart.
    Unknown
    Blackwell Science Ltd
    Publication Date: 2017-04-03
    Description: The method of spherical cap harmonic analysis (SCHA), due to Haines (1985) is appropriate for regional geomagnetic field modelling as it includes the required potential field constraints and, for a given number of model parameters, describes shorter wavelength features than a global spherical harmonic model. If the origin of the coordinate system is moved from the centre of the Earth towards the surface then the Earth's surface is no longer equidistant from the origin. At the Earth's surface the minimum wavelength described by a SCH model in the new coordinate system is smaller at the centre of the region than at the edge. This method of translated origin spherical cap harmonic analysis (TOSCA) has been applied to regional field modelling for Italy. The method is able to take advantage of the dense distribution of data at the centre of region and the model effectively smooths towards the periphery. The performance of the TOSCA model is discussed in relation to a model derived using conventional SCHA.
    Description: Published
    Description: 253-263
    Description: N/A or not JCR
    Description: reserved
    Keywords: ground and satellite data analysis ; regional field modelling ; spherical cap harmonic analysis ; 04. Solid Earth::04.05. Geomagnetism::04.05.03. Global and regional models ; 05. General::05.05. Mathematical geophysics::05.05.99. General or miscellaneous
    Repository Name: Istituto Nazionale di Geofisica e Vulcanologia (INGV)
    Type: article
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 3
    Publication Date: 2017-04-04
    Description: An analysis of the field scaling power spectrum yields useful information about the source distribution, but it is uncertain whether deterministic, random, fractal or mixed approaches have to be used for the interpretation. To this end, the scaling properties of potential field spectra are analysed for a number of different source models of geological interest. Besides the models of Naidu (purely random sources) and Spector and Grant (gross block statistical ensembles) we consider other types of density and magnetization distributions with spectral exponents in the fractal range, such as a single homogeneous body with a random white source distribution. Spectral slopes in the fractal range are obtained. We also study the effects of important natural sources, such as salt domes and sedimentary basins, representing them with simple Gaussians or combinations of Gaussian signals. The same spectral slopes as for gravity signals generated by 3-D fractal source distributions are found for them. Hence the power law decay of the field is not a characteristic only of fractal source models. If a 3-D fractal source distribution is assumed a priori, a way of verifying the goodness of the model is to examine the whitened field at source level. The probability that the whitened field derives from a random white population is estimated for synthetic and real anomalies by applying the usual statistical tests.
    Description: Published
    Description: 311-323
    Description: JCR Journal
    Description: reserved
    Keywords: fractals ; potential field ; spectral analysis ; 04. Solid Earth::04.02. Exploration geophysics::04.02.04. Magnetic and electrical methods ; 05. General::05.01. Computational geophysics::05.01.03. Inverse methods ; 05. General::05.05. Mathematical geophysics::05.05.99. General or miscellaneous
    Repository Name: Istituto Nazionale di Geofisica e Vulcanologia (INGV)
    Type: article
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 4
    Publication Date: 2017-04-04
    Description: Eastern Sicily (southern Italy) is characterised by the presence of many natural gas emissions (mofettes, mud volcanoes). These gases are mostly carbon dioxide and methane, with minor amounts of helium, hydrogen, carbon monoxide and hydrocarbons. In this study, the extent and orientation of soil gas anomalies (He and CO2) were investigated on a wide area (approximately 110 km2) located just SW of Mt. Etna. From a structural point of view, this area lays on a typical foredeep–foreland system that marks the boundary between the southern part of the Eurasian plate and the northern part of the African plate in the central Mediterranean. No tectonic structure was revealed in this area by surface geological surveys. Very high soil emissions were found, and their spatial pattern reveals the existence of some active faults all directed about N508E. This direction coincides with that of two major fault systems that cut eastern Sicily and are evident, respectively, NE and SW of the study area. Soil gas data suggest that these fault systems are the expression of a single continuous structural line which is probably responsible for the past and present magma uprise in eastern Sicily. Isotopic values of carbon of CO2 suggest a minor contribution of organic carbon. Moreover, in the highest degassing sites the isotopic values of He found in association with CO2 (He abundance¼11–70 p.p.m.; R/Ra between 6.0 and 6.2) suggest that both gases are mantle derived. The extent of the areas affected by high gas emissions and the amounts of deep CO2 emitted in the investigated area (several hundred tonnes per day) may provide additional supporting evidence of a mantle upwelling taking place beneath this region.
    Description: Gruppo Nazionale per la Vulcanologia Italy.
    Description: Published
    Description: 273–284
    Description: partially_open
    Keywords: CO2 ; diffuse degassing ; Sicily ; 04. Solid Earth::04.02. Exploration geophysics::04.02.01. Geochemical exploration ; 04. Solid Earth::04.04. Geology::04.04.12. Fluid Geochemistry ; 04. Solid Earth::04.07. Tectonophysics::04.07.07. Tectonics
    Repository Name: Istituto Nazionale di Geofisica e Vulcanologia (INGV)
    Type: article
    Format: 597 bytes
    Format: 866788 bytes
    Format: text/html
    Format: application/pdf
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 5
    Publication Date: 2017-04-04
    Description: This paper documents a phreatomagmatic ¯ank eruption that occurred 18 700 100 a BP, on the lower north-eastern slope of Etna during the Ellittico volcano activity, which produced fall and surge deposits. This type of eruption is connected to a sedimentary basement ridge at Etna. The interaction between the rising magma and the shallow groundwater hosted in the volcanic pile overlying the impermeable sediments resulted in phreatomagmatic instead of strombolian activity. Three eruptive phases are distinguished based on ®eld and analytical data: (i) an explosive phreatomagmatic opening, (ii) a main phase producing coarse lithic-rich fallout and a strombolian deposit, and (iii) the ®nal pulsating surge-forming phase. The discovery of this phreatomagmatic ¯ank eruption, which occurred at lower altitude, raises important issues for previous hazard assessments at Etna.
    Description: University of Catania
    Description: Published
    Description: 235-240
    Description: 3.5. Geologia e storia dei sistemi vulcanici
    Description: JCR Journal
    Description: reserved
    Keywords: Etna ; phreatomagmatic eruption ; hazard assessment ; 05. General::05.02. Data dissemination::05.02.03. Volcanic eruptions
    Repository Name: Istituto Nazionale di Geofisica e Vulcanologia (INGV)
    Type: article
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 6
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Annals of public and cooperative economics 74 (2003), S. 0 
    ISSN: 1467-8292
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract:  This paper outlines the internationalisation process of cooperatives in an economic environment determined by economic globalisation. The analysis is focused on the Mondragon Cooperative Corporation (MCC) in the Basque Country which is a point of reference for participatory enterprises all over the world. MCC is currently adapting to changing market conditions and pursuing a strategy of direct investment (joint ventures, greenfield investment and acquisitions) in priority international markets. Thus, the first part of the study is about the current situation: the problems and consequences related to the internationalisation process of the MCC. In the second part, we consider an analytical framework for developing measures and strategies which could facilitate international expansion but in a manner which is more in line with cooperative values. The third part focuses on the presentation and discussion, based on this analytical framework, of a number of proposals made within the MCC on international social-economic policy.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 7
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Annals of public and cooperative economics 74 (2003), S. 0 
    ISSN: 1467-8292
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 8
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Annals of public and cooperative economics 74 (2003), S. 0 
    ISSN: 1467-8292
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract:  ‘Proximity services’ have been the subject of frequent debate for more than a decade in French speaking countries. They can be defined as services which meet individual or collective needs and which are ‘local’ in either spatial or relational terms. Based on the situation in France, this paper aims to describe the many options available in the field of ‘proximity services’ and examine the support offered by the public authorities for the existing practices, considering that this support is representative of the evolutive relations between State, market and civil society. The limited success of the free market puts the question of a renewal of public intervention, which would accommodate all options available in this area, without being confined to a marketization of this field of activity. For this matter, the political embeddedness of associations and cooperatives is decisive for the future.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 9
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Annals of public and cooperative economics 74 (2003), S. 0 
    ISSN: 1467-8292
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In many European countries, institutional childcare has developed as a field shaped by both statutory and associative agency, the German system being emblematic for this. In Germany, a considerable proportion of childcare services are provided by nonprofit organizations under public regulation. Departing from a historical overview, the article elaborates on the mixed economy of welfare in that system and sheds light on recent transformations of the existing public-private partnership. It is argued that with a range of cultural and civil-society-related evolutions, the system is going to adopt elements of a market regulation that are prone to change the rules of games within the partnership as such.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 10
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper analyzes the dynamic relationship between primary and secondary mortgage markets and the short-term and long-term market interest rates. Using a series of monthly data on fixed rate mortgage rates and GNMA rates, we explore the dependence and speed of adjustment in these primary and secondary mortgage rates to each other as well as to the long and short-term government rates. The results indicate that residential mortgage rates in general, appear to follow the long-term rate and are not very sensitive to movements in the short-term interest rate.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 11
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Turkish banks are quite heterogeneous in terms of organizational form, ownership structure, size, age, portfolio concentration, growth prospects and attitude toward risk. They also exhibit strong variations in performance as measured by several efficiency indices. In the light of theoretical advances in corporate finance and financial institutions, this paper is an in-depth cross-sectional analysis of the Turkish banking sector, which explores the various bank, market and regulatory characteristics that may explain the efficiency variations across banks. Consistent with the related hypotheses investigated, the results indicate that a number of independent bank characteristics are significantly correlated with various efficiency measures.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 12
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper analyses the flotation costs and the share price reaction of equity offerings in Spain. The results report a positive relationship between relative flotation costs and the underwriting of an issue, and a negative relationship between such costs and ownership concentration. Fixed flotation costs and a negative relationship with the gross offer proceeds are also observed. On average, there is a negative share price reaction on the date of the ‘previous communication’ to the Comisión Nacional del Mercado de Valores. The different sub-samples analysed according to the underwriting of the issue and the discount offered reveal no statistical differences.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 13
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The predictability of stock returns is often assessed using classical statistical significance from predictive regressions. Statistical inference, however, can belie the economic importance with which investors regard various predictors. This paper examines the influence that predictors have on an investor's optimal portfolio allocations. The results show that return predictability is sufficient to induce horizon effects in optimal allocations. After incorporating estimation risk, however, little evidence of predictability remains. We also assess the relative importance of three predictor variables. While dividend yield is the most important predictor, optimal allocations are also sensitive to the term spread and the relative bill rate.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 14
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 15
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The so-called disclosure principle is a ‘puzzle’ in the accounting literature: Game theoretic models of financial markets show that in equilibrium firms should disclose all their private information. Yet, the result is not convincing. Researchers have therefore built sophisticated models in order to demonstrate for which reasons the disclosure principle might fail. This note shows that even in the original model there are multiple equilibria. In those equilibria good types disclose and bad types do not. The commonly known full disclosure equilibrium is a limit point of the equilibrium set.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 16
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper analyzes stock returns and volatility relations between the Istanbul Stock Exchange (ISE) and the global market as represented by stock markets in the US, the UK, Japan and Germany. Results from monthly data and multivariate cointegration tests suggest that the ISE became significantly integrated in the global market only in the period following market liberalization in late 1989. We also find evidence based on GARCH estimations that capital liberalization actually mitigated, rather than intensified, volatility in the ISE. Our results further suggest that the Asian crisis in mid-1997 and the consequent Russian economic meltdown in mid-1998 are partly responsible for the recent excessive volatility in the Turkish market. The results also identify the US and the UK markets as dominate sources of volatility spillovers for the ISE, even in the period following the Asian-Russian crises. Consequently, it appears that the two matured markets of the US and the UK shoulder significant responsibility for the stability and financial health of smaller emerging markets like the ISE.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 17
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Cross-sectional averages of log returns have been used to measure shareholder wealth effects in several event studies. No adequate explanation of the implied portfolio strategy has ever been provided in the literature. We argue that the method is biased or does not portray a realistic portfolio strategy. It should therefore be used with caution in the event-study' literature.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 18
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper re-evaluates the time series properties of financial ratios. It presents new empirical analysis which explicitly allows for the possibility that financial ratios can be characterized as non-linear mean-reverting processes. Financial ratios are widely employed as explanatory variables in accounting and finance research with applications ranging from the determinants of auditors’ compensation to explaining firms’ investment decisions. An implicit assumption in this empirical work is that the ratios are stationary so that the postulated models can be estimated by classical regression methods. However, recent empirical work on the time series properties of corporate financial ratios has reported that the level of the majority of ratios is described by non-stationary, I(1), integrated processes and that the ratio differences are parsimoniously described by random walks. We hypothesize that financial ratios may follow a random walk near their target level, but that the more distant a ratio is from target, the more likely the firm is to take remedial action to bring it back towards target. This behavior will result in a significant size distortion of the conventional stationarity tests and lead to frequent non-rejection of the null hypothesis of non-stationarity, a finding which undermines the use of these ratios as reliable conditioning variables for the explanation of firms’ decisions.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 19
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this paper we examine the stationarity of all the rates comprising the USD, GBP, DM and JPY spot and forward term structures. Instead of focussing on short maturity interest rates, as most other papers do, we perform a detailed analysis of the whole range of spot and forward interest rates of the 4 main currencies. We investigate the issue of stationarity within the framework of an equilibrium interest rate model such as Vasicek (1977), that defines the cross-sectional and time series properties that interest rates of various maturities must satisfy. We show that within a one-factor interest rate model, such as Vasicek, all interest rates are restricted to exhibit the same mean reverting behaviour. This restriction allows us to apply more powerful panel unit root tests. This methodology increases considerably the number of observations available and as a result the power of the unit root tests. The higher power of these tests allows us to demonstrate that there does exist mean reversion on the spot and forward US interest rates and the forward DM and GBP interest rates.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 20
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper addresses the important relationship between stock index and stock index futures markets in an international context. By simply examining the spot-futures relationship within a single country as most of the extant literature does and thus ignoring possible market interdependencies between countries, the dynamics of price adjustments may be misspecified and thus findings misleading. The main contribution of the paper is to improve our understanding of the pricing relationship between spot and futures markets in the light of international market interdependencies. Using a multivariate VAR-EGARCH methodology, the paper investigates stock index and stock index futures market interdependence, that is lead-lag relationships and volatility interactions between the stock and futures markets of three main European countries, namely France, Germany and the UK. In addition, the paper explicitly accounts for potential asymmetries that may exist in the volatility transmission mechanism between these markets. The main conclusions of the paper imply that investors need to account for market interactions across countries to fully and correctly exploit the potential for hedging and diversification.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 21
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This study uses 1991–99 data gathered from the United Kingdom's life insurance industry to test empirically the notion that the reported annual surplus of a life insurer may be influenced by four firm-specific characteristics: namely, reinsurance, output mix, organizational form and firm size. Consistent with expectations, the results indicate that the annual reported surplus is positively related to reinsurance and firm size and negatively related to the degree of product diversification. Contrary to our expectations, however, we find no evidence that proprietary (stock) life insurers tend to report higher annual surpluses than mutual life insurers.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 22
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We delineate Hong Kong listed corporations into three levels of privatization: the fully privatized blue chips, semi-privatized red chips and the least privatized H shares. Both H shares and red chips are mixed enterprises that mimic private ownership with joint government and private stock ownership. We find that mixed enterprises are less profitable and lower valued than the fully privatized blue chips, but red chips are more efficient and perform better than blue chips when market confidence swings to their favor. Regression analysis suggests that increased stock ownership by the government and increased emolument incentives are counterproductive to profitability, especially in bad economic times of the 1997–98 Asian financial crisis.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 23
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The relation between working capital management and corporate profitablity is investigated for a sample of 1,009 large Belgian non-financial firms for the 1992-1996 period. Trade credit policy and inventory policy are measured by number of days accounts receivable, accounts payable and inventories, and the cash conversion cycle is used as a comprehensice measure of working capital management. The results suggest that managers can increase corporate profitablity by reducing the number of days accounts receivable and inventories. Less profitable firms wait longer to pay their bills.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 24
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper examines the UK stock market's reaction to the appointment of outside (non-executive) board members. Tests conducted using a sample of 714 appointments reported by EXTEL between 1 July, 1993 and 31 December, 1996, indicate a strong interaction between appointee characteristics and the magnitude of the agency problem: the share price reaction to outside director appointments is significantly more favourable when board ownership is low and the appointee possesses strong ex ante monitoring incentives. In contrast, the appointment of independent and manager-affiliated outside directors does not appear to benefit shareholders on average, even in the presence of serious agency problems.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 25
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 26
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper uses cointegration and causality tests to study the temporal behavior of dividends and earnings at the individual firm level. We find that, for a sample of 143 non-utility firms, approximately one-fifth of the firms exhibits a temporal relationship between dividends and earnings that is consistent with the information signaling hypothesis of dividends. In the case of 72 utilities, about a third exhibit dividend policies that are consistent with the signaling notion of dividends. Further examination of firm characteristic differences between signaling and non-signaling firms shows that, in the case of non-utility firms, signaling firms tend to be smaller, have a lower growth rate of total assets, and have a higher leverage ratio. In the case of utilities, we find no major differences in firm characteristics between signaling and non-signaling firms.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 27
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper analyzes the time-series behavior of residual earnings as it relates to the existence of positive NPV opportunities (or ‘rents’). The issue is of interest because many recent papers (e.g., Lo and Lys, 1999; and Holthausen and Watts, 2001) have commented on it in the context of the Ohlson (1995) model. The analysis shows that the Ohlson (1995) model allows for positive NPV opportunities, contrary to the frequently made claims.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 28
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The nature of the data we usually encounter in market-based accounting research is such that the results of the regressions of market capitalization on financial statement variables (referred to ‘price-levels’ regressions) are driven by a relatively small subset of the very largest firms in the sample. We refer to this overwhelming influence of the largest firms as the ‘scale effect’. This effect is more than heteroscedasticity. It arises due to the non-linearity in the relation between market capitalization and the financial statement variables. We present the case that scale is market capitalization rather than a correlated omitted variable. Since scale is market capitalization, we advocate its use as a deflator in a regression estimated using weighted least squares. This regression overcomes the scale effect and the resultant regression residuals are more economically meaningful. Christie's (1987) depiction of scale is the same as ours but he advocates the use of the returns regression specification in order to avoid scale effects. We agree that returns regressions should be used unless the research question calls for a price-levels regression.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 29
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Asymmetric information and mechanisms for its resolution in the initial public offering (IPO) process are subjects of extensive research and debate. In this paper, we investigate the impact of one such mechanism, namely voluntary disclosure of management earnings forecasts by issuers of IPOs, as a means of reducing asymmetric information as well as ex ante uncertainty. Our focus is on the relative importance of this voluntary disclosure mechanism on both IPO underpricing and post-issue return performance. Our results indicate that management earnings forecasts provide important and incremental information compared to other means of reducing asymmetric information, and these disclosures appear to improve the environment of IPO issuance. For example, our underpricing results show that firms that choose to provide forecasts leave ‘less money on the table’ with a lower degree of underpricing. In terms of post-issue performance, firms whose forecasts turn out to be optimistic are penalized significantly relative to other forecasters and non-forecasters.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 30
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 31
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 32
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper tests the empirical validity of the Ohlson (1995) model on a firm-level time series basis. The coefficients of the earnings dynamic and valuation equations are first estimated by OLS. Next, recognizing the nonlinear relationships among the parameters, each equation is estimated by nonlinear Least Squares. Lastly, the model is estimated as a restricted system by nonlinear Least Squares and nonlinear SUR. In all cases, parameters are endogenously estimated. Irrespective of the estimation method, the Ohlson model often yields inconsistent or insignificant parameter estimates. Nevertheless, point estimates of equity risk premia are similar to those obtained from alternative methodologies.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 33
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Consumer credit has become an enormous business in industrialized countries. Recently, finance agencies have started to develop new products aiming not only to widen their portfolio but also to keep active relationships with good clients already taken on file and to prevent bad clients from becoming a loss for the agency. As a result, models for the whole behaviour of the clients are necessary. They involve many related outcome variables, which altogether give a measure of whether the client revealed to be profitable or unprofitable. This paper aims to show the potential of graphical chain models in the described context.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 34
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 35
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: A sample of firms where employee stock options and other long-term incentives are absent but an annual bonus is required is examined. A positive relation is found between firm equity value and stock bonus but not cash bonus. The positive relation is stronger when the firm has greater investment opportunities. Additionally, the relation is shown to be nonlinear in the sense that the marginal effect of stock bonus on equity value is positive but decreasing (negative) when the stock bonus is below (above) the breakpoint. Overall, the annual stock bonus is valued positively by investors even though it is linked to the firm's contemporaneous but not future performance.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 36
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This multi-method study reports the results of two complementary experiments investigating the relevance of cash flow and accrual information. A behavioural field experiment investigated differences in the accuracy of solvency assessments between commercial lending managers using cash flow information and those using accrual information. Results indicated that commercial lending managers using cash flow information made more accurate solvency assessments than managers using accrual information. Results of an archival quantitative modeling experiment complemented these results and indicated cash flow information had incremental information content beyond accrual information. Our results confirmed the decision-usefulness of cash flow information and supported the mandate of the Statement of Cash Flows.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 37
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this paper we use a simultaneous equations model to examine the relationship between analysts’ forecasts, analyst following, and institutions’ investment decisions. Estimates of our three equation model using US data indicate that higher institutional demand leads to greater optimism among analysts and lower analyst following. At the same time, institutional demand increases with increasing optimism in analysts’ forecasts but decreases with analyst following. We also investigate firm characteristics as determinants of analysts’ and institutions’ decisions. Empirical estimates of the effects of these characteristics indicate that agency-driven behavioral considerations are significant.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 38
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: There is a gap between the theoretical literature which almost unanimously advocates the privatization of enterprises, as part of the solution to the commitment problem in economies in transition, and the empirical evidence regarding the best way to design a privatization program in order to secure an efficient use of resources. This paper contributes to this debate by focusing on the determinants of the financial long-run performance of privatized firms in Poland, Hungary, and the Czech Republic. This long-run performance is mainly influenced by the extent of retained state ownership, the choice of privatization method, and firm size.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 39
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this paper we examine the market reaction to the announcement by Fortune of the ‘Best 100 Companies to Work for in America.’ Employees rate firms based on several criteria including trust in management, pride in work/company and camaraderie. To examine long-term performance, we calculate raw and risk-adjusted returns and then compare them to the returns of a matched sample of firms. In addition, we calculate the return on a buy and hold investment in the sample firm less the return on a buy-and-hold investment in a matched sample firm (BHARs). We find a statistically significant positive response to the announcement of the ‘100 best companies to work for’ by Fortune. Also, based on all measures of risk-adjusted return, we find these firms generally outperform the matched sample of companies. The BHAR results, although not exhibiting the level of statistical significance, are consistent with the raw and risk-adjusted return results.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 40
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Previous returns studies have shown that extreme earnings and extreme cash flows from operations are less informative than moderate (i.e., less extreme) earnings and moderate cash flows. Studies also report that cash flows supplement to earnings in firm valuation by showing a higher association of cash flows with returns when earnings are extreme than when earnings are moderate. We propose that this supplementary role of cash flows is affected by cash flows extremity. Using data from the US capital markets, we find that the supplementary role of cash flows exists only when cash flows are not extreme. We also investigate the supplementary role of earnings to cash flows and search for a higher association of earnings with returns when cash flows are extreme than when cash flows are moderate. Similar to results on cash flows, our findings show that the supplementary role of earnings exists only when earnings are not extreme. Our results imply that investors and researchers should consider both earnings and cash flows extremity when assessing the information content of these variables.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 41
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This study examines various factors that potentially explain cross-sectional variations in UK corporate managerial discretion to switch towards a market-based actuarial pension valuation method for pension funding and reporting purposes. Evidence is based on accounting, actuarial and share market data for an industry-matched pair sample of 90 UK firms. Consistent with our hypotheses we find that companies have a greater propensity to switch actuarial methods if they use lower discount rates, lower flow funding ratios and sponsor larger pension plans in the pre-switch valuation year. These findings are consistent with the traditional perspective, which implies that UK corporate switching decisions are explained by characteristics of their defined benefit pension funds. The results run contrary to the findings of earlier US based studies that find that such choices can be explained from an alternative corporate financial perspective.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 42
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The aim in this paper is to replicate and extend the analysis of visual technical patterns by Lo et al. (2000) using data on the UK market. A non-parametric smoother is used to model a nonlinear trend in stock price series. Technical patterns, such as the ‘head-and-shoulders’ pattern, that are characterised by a sequence of turning points are identified in the smoothed data. Statistical tests are used to determine whether returns conditioned on the technical patterns are different from random returns and, in an extension to the analysis of Lo et al. (2000), whether they can outperform a market benchmark return. For the stocks in the FTSE 100 and FTSE 250 indices over the period 1986 to 2001, we find that technical patterns occur with different frequencies to each other and in different relativities to the frequencies found in the US market. Our extended statistical testing indicates that UK stock returns are less influenced by technical patterns than was the case for US stock returns.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 43
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We study the effect of different acquirer types, defined by financial status and their payment methods, on their short and long-term performance, in terms of abnormal returns using a variety of benchmark models. For a sample of 519 UK acquirers during 1983–95, we examine the abnormal return performance of acquirers based on their pre-bid financial status as either glamour or value acquirers using both the price to earnings (PE) ratio and market to book value ratio (MTBV). Value acquirers outperform glamour acquirers in the three-year post-acquisition period. One interpretation is that glamour firms have overvalued equity and tend to exploit their status and use it more often than cash to finance their acquisitions. As we move from glamour to value acquirers, there is a greater use of cash. Our results are broadly consistent with those for the US reported by Rau and Vermaelen (1998). However, in contrast to their study, we find stronger support for the method of payment hypothesis than for extrapolation hypothesis. Cash acquirers generate higher returns than equity acquirers, irrespective of their glamour/ value status. Our conclusions, based on four benchmark models for abnormal returns, suggest that stock markets in both the US and the UK may share a similar proclivity for over-extrapolation of past performance, at least in the bid period. They also tend to reassess acquirer performance in the post-acquisition period and correct this overextrapolation. These results have implications for the behavioural aspects of capital markets in both countries.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 44
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper analyses the agency explanation for the cross-sectional variation of corporate dividend policy in the UK by looking at the managerial entrenchment hypothesis drawn from the agency literature. Consistent with predictions, a significant U-shaped relationship between dividend payout ratios and insider ownership is observed for a large (exceeding 600 firms) sample of UK companies and two distinct periods. These results strongly suggest the possibility of managerial entrenchment when insider ownership reaches a threshold of around 30%. Evidence is also presented that non-beneficial holdings by insiders can lead to entrenchment in conjunction with shares held beneficially.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 45
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this study, we provide evidence on the stationarity of real audit fees and the major explanatory variables frequently used in the audit pricing models from a pooled data set, using panel unit root tests developed by Im et al. (1997). The panel unit root test supports the hypothesis of non-stationarity of audit fees and their major determinants. We demonstrate that variables in the audit pricing model that were previously found to have impact on audit fees may turn out to be useless when more powerful tests like panel tests are applied to these variables. Our evidence implies that failing to employ appropriate procedure to test cointegration and to specify the appropriate model for audit fees and their determinants would generate results that may have exaggerated the effects of some variables on audit fees.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 46
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We assess the valuation implications of the fair value disclosures made for publicly traded securities accounted for under the equity method. We test the association between investors' stock price metrics and fair value disclosures while controlling for book values on a sample of 172 investor firm-years during 1993–1997. Our results indicate that the information in the fair value disclosures is incremental to the information provided by both an investment's equity method book value and equity method reported income. This suggests that there is nothing unique about investments in publicly traded common stock that involve significant influence that makes the fair value disclosures irrelevant for firm valuation.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 47
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Prior studies of audit reporting in the UK only analyse either very small, private companies, or large listed companies. In addition, these studies focus on narrowly defined types of modified audit reports, respectively the ‘small company’ audit qualification, and going-concern related modifications. In contrast, this paper employs a multinomial logit model to analyse the determinants of both going-concern and non going-concern related audit modifications, including modifications for disagreements and limitations on scope. Furthermore, this paper analyses reports over a wide range of both private and public (listed and non-listed) companies. The determinants of audit reports are shown to differ between different types of audit modification. In addition, subsidiary companies hiring large auditors are significantly less likely to receive non going-concern related modifications, whereas non-subsidiary companies hiring large auditors are significantly more likely to receive going-concern related modifications.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 48
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: I posit and test two competing views on the significance of outside director tenure lengths; the expertise hypothesis suggesting that extended board service time is a sign of director commitment, experience, and competence and the management-friendliness hypothesis suggesting that extended board service time marks directors who befriend management at the expense of shareholders. I find evidence that Senior directors, defined as directors with twenty or more years of board service, are almost twice as likely to occupy a ‘management-affiliated’ profession compared to the rest, and that they are also more likely to staff the firm's nominating and compensation committees. Senior director participation in the compensation committee is associated with higher pay for the CEO, especially when the CEO is more powerful in the firm. These results are consistent with the management-friendliness hypothesis, and highlight a need for setting term limits for directors.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 49
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We bring together three disparate strands of literature to develop a comprehensive empirical framework to examine the efficiency of security analysts' earnings forecasts in Singapore. We focus specifically on how the increased uncertainty and the negative market sentiment during the period of the Asian crisis affected the quality of earnings forecasts. While we find no evidence of inefficiencies in the pre-crisis period, our results suggest that after the onset of the crisis, analysts (1) issued forecasts that were systematically upward biased; (2) did not fully incorporate the (negative) earnings-related news; and (3) predicted earnings changes which proved too extreme.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 50
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this paper, we examine whether the ‘reverse’ weekend effect recently documented by Brusa, Liu and Schulman (2000) is concentrated in a few industries or widely spread across all the industries. The findings in this paper indicate that the ‘reverse’ weekend effect exists not only in broad indices, but also in most industries. The results suggest that the ‘reverse’ weekend effect may be driven by economic events that affect all industries, rather than industry-specific factors. Although the patterns of Monday returns are similar between broad indices and industry indices, they are different between the pre- and the post-1988 periods. Monday returns tend to be negative in the pre-1988 period, but tend to be positive in the post-1988 period, for both broad market indices and industry indices. These conclusions are valid even after considering the influence of the month-of-the-year and the week-of-the-month effects.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 51
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper provides another test of the litigation hypothesis proposed by Hall and Stammerjohan (1997) and provides evidence that subtle differences in the underlying business environment may be very important in predicting the accounting reaction of management to major events. The litigation hypothesis predicts that firms that are defendants in litigation with potentially large damage awards (major litigation) will attempt to reduce the size of those damage awards by making income-decreasing accounting choices. The oil firms in the Hall and Stammerjohan study appeared to systematically reduce reported earnings during the litigation periods by under-reporting new reserves. The fourteen chemical and pharmaceutical firms, involved in fifteen litigation events, examined by this study produce a very different result. The chemical and pharmaceutical firms faced a different business environment during their litigation periods and appear to have made income-increasing accounting choices. These firms appear to have been able to perpetuate earnings growth without corresponding sales revenue growth during the litigation periods through unexpected reversals in deferred income tax expense.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 52
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We state an Aggregation Theorem which shows that the recursion value of equity is functionally proportional to its adaptation value. Since the recursion value of equity is equal to its book value plus the expected present value of its abnormal earnings, it follows that the adaptation value of equity can normally be determined by a process of simple quadrature. We demonstrate the application of the Aggregation Theorem using two stochastic processes. The first uses the linear information dynamics of the Ohlson (1995) model. The second uses linear information dynamics based on the Cox, Ingersoll and Ross (1985)‘square root’ process. Both these processes lead to closed form expressions for the adaptation and overall market value of equity. There are, however, many other processes which are compatible with the Aggregation Theorem. These all show that the market value of equity will be a highly convex function of its recursion value. The empirical evidence we report for UK companies largely supports the convexity hypothesis.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 53
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper examines the determinants of external credit ratings attained by insurance firms in the United Kingdom (UK) and of the likelihood that insurers will have such an assessment. Using panel data relating to A.M. Best-rated and Standard and Poor's (S&P)-rated insurers over the period 1993–1997, a trichotomous logit model and an ordered probit model with sample selection are employed to show that the factors which influence the likelihood of having external credit assessments not only vary between the two agencies but also differ from those which determine the ratings themselves. Our results are shown to be of potential interest to participants in the insurance industry and policy-makers alike.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 54
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This study investigates why firms adopt long-term performance plans. The results provide evidence that firms that adopt long-term performance plans have higher risk as measured by Beta, have lower percentages of managerial stockholdings, have higher levels of investment in research and development expenditures two years prior to adoption of a long-term performance plan, and experience increases in the ratio of debt to total assets in the two year period prior to long-term performance plan adoption. Also, firms increase their investments in research and development and capital expenditures following adoption of long-term performance plans.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 55
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This study examines the mispricing and time between arbitrage trades of the Hong Kong Hang Seng index futures and index options contracts under various stressed market conditions. Ex-ante trading profits and differences in time between trades across up and down as well as stressed and non-stressed markets are used to measure how well the derivative markets perform under emotional distress. We find evidence of illiquidity in stressed and down markets. In stressful markets and down markets, liquidity suppliers are less likely to trade against the informed traders. This, in turn, leads to longer time between trades and higher arbitrage profits.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 56
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 57
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: It is now widely accepted that contrarian, or value investment strategies deliver superior returns. Gregory, Harris and Michou (2001) examine the performance of contrarian investment strategies in the UK and find that value strategies formed on the basis of a wide range of measures of value have delivered excess returns that are both statistically and economically significant. However, while value strategies appear to be profitable, the reason for their superior perform- ance is far from clear. Under the contrarian model, value strategies are profitable because they are contrarian to naïve strategies such as those that erroneously extrapolate past performance, while under the rational pricing model, value strategies are profitable because they are fundamentally riskier in some sense. In this paper, we discriminate between these two possibilities by undertaking a comprehensive investigation of the relationship between the returns to value investment strategies and various macroeconomic state variables that in a multi-factor asset pricing model could reasonably be taken as proxies for risk. Moreover, we examine whether the returns to value strategies predict future GDP, consumption and investment growth over and above the contribution of the Fama and French (1993 and 1996) SMB, HML and market factors. While the SMB and HML factors behave in a manner consistent with the rational pricing model, we show that some value strategies in the UK are able to generate excess returns that do not seem to be related to known risk factors.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 58
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The IASC recently recommended that employee compensation in the form of stock options be measured at the ‘fair value’ based on an option pricing model and the value should be recognized in financial statements. This follows adoption of SFAS No. 123 in the United States, which requires firms to estimate the value of employee stock options using either a Black-Scholes or binomial model. Most US firms used the B-S model for their 1996 financial statements. This study assumes that option life follows a Gamma distribution, allowing the variance of option life to be separate from its expected life. The results indicate the adjusted Black-Scholes model could overvalue employee stock options on the grant date by as much as 72 percent for nondividend paying firms and by as much as 84 percent for dividend paying firms. The results further demonstrate the sensitivity of ESO values to the volatility of the expected option life, a parameter that the B-S model or a Poisson process cannot accommodate. The variability of option life has an especially big impact on ESO value for firms whose ESOs have a relatively short life (5 years, for example) and high employee turnover. For such firms, the results indicate a binomial option pricing model is more appropriate for estimating ESO value than the B-S type model.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 59
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We bring together three disparate strands of literature to develop a comprehensive empirical framework to examine the efficiency of security analysts' earnings forecasts in Singapore. We focus specifically on how the increased uncertainty and the negative market sentiment during the period of the Asian crisis affected the quality of earnings forecasts. While we find no evidence of inefficiencies in the pre-crisis period, our results suggest that after the onset of the crisis, analysts (1) issued forecasts that were systematically upward biased; (2) did not fully incorporate the (negative) earnings-related news; and (3) predicted earnings changes which proved too extreme.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 60
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper is focused on the cost of raising capital in Germany. A cross-sectional analysis of flotation cost data for 117 IPOs over the years 1993–1998 is presented. We find average flotation costs to be 7.77 percent of gross proceeds, while underwriting fees average 5.01 percent. Our results extend the literature in two important directions. First, contrary to the conventional economies of scale view we find marginal spreads to be rather constant in gross proceeds and to be higher for more risky and more complex offerings. Fixed costs amount to 5 to 9 percent of underwriting fees. Second, by applying a principal component analysis we find issue size, an issuer risk factor, and an offering method complexity factor to have an economicaly meaningful impact on underwriting fees.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 61
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper tests two competing hypotheses describing investors’ behavior: the efficient market hypothesis and the functional fixation hypothesis. In particular, this study examines how Taiwan's stock market interprets the nature of corporate income tax after the 1998 Tax Reform, which switches from the classical tax system to the integrated tax system. This Tax Reform changes the nature of corporate income tax from a pure operating expense to an individual shareholder's tax credit, but current GAAP still treats it as an operating expense in the income statement. The empirical results show that Taiwan's stock market perceives the change in nature of corporate income tax and responds accordingly.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 62
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 63
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 64
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 65
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 66
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Journal of business finance & accounting 30 (2003), S. 0 
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 67
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Science Ltd
    Economic affairs 22 (2002), S. 0 
    ISSN: 1468-0270
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 68
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Economic affairs 22 (2002), S. 0 
    ISSN: 1468-0270
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 69
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This research was carried out with 300 Turkish college students in Ankara in order to investigate attitudes to money. The questionnaire was given to subjects from three different universities. The data were analysed by using explanatory variables, including gender, age and family type. Findings indicated that college students’ money attitudes relating to the past and future were linked to selected demographics, especially gender and age variables. The results of this study are important to the understanding of financial behaviour of college students and to enable professionals in the field of family and consumer sciences to be more effective in their advice and teaching.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 70
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The context in which a meal is eaten is known to affect intake and choice of food. The purpose of this study was to investigate in what typical situations ready meals are consumed and if consumer demands vary according to different situations. With a market survey four typical ready meal eating situations were identified, and the respondent's ready meal consumption was shown to be affected by situational factors. In the different eating situations there were dissimilar reasons for consumption. Two ready meal eating situations were investigated in greater detail in order to establish what triggered the ready meal consumption in these situations. One of these meal situations proved to be convenience driven and the other time driven. A situation-oriented approach is suggested for further ready meal product development.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 71
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The same (chilled) food product was presented to 77 consumers with either a frozen or chilled label. As predicted, liking for the food product was found to be in line with consumer expectation of liking for the different preservation format labels. For example, consumers that expected chilled foods to taste better than frozen reported higher liking for the product with the chilled label, even though actual quality of all products tasted was the same. Contrary to our prediction that tasting similar quality products perceived to be from different preservation formats would bring expectation of liking for those formats closer together, we found consumers who expressed no preference before tasting the products had developed a preference afterwards. We discuss the implication of these results and similarities between the concepts of conditioning, attitude, expectation and preference.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 72
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The purpose of the study was to investigate consumers’ perception of food packaging and its impact on food choices. The study population comprised 82 people who were ultimately consumers of packaged food products. The sample was drawn from six major supermarkets located in different geographical areas in Trinidad, West Indies. Data collection was carried out by using a questionnaire based on five topics: visual impact or attractiveness of the packaging; type of packaging material; labelling and nutritional information; new products; and fruit preserves. The packaging feature that influenced most of the respondents’ choice of products was information on the label (41.5%); it was followed by quality and type of packaging (24.4%), brand name/popularity (22.0%) and visual impact (12.2%). When asked if they would purchase a product that was most attractively packaged, 85.4% responded in the affirmative. Most respondents (92.7%) believed that packaging material could adversely affect the quality of performance of a food product. Also, 92.7% of respondents agreed that nutrition information should be shown on all food products, although 36.6% admitted that they do not read the label because of its complexity. Influence of gender was not significant (P 〈 0.05) on consumer perception of food packaging and on food choices. Although the sample was small, the data highlighted the need to educate consumers of packaged foods, so that informed decisions could be taken in respect to food quality, safety and nutrition.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 73
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 74
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 75
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 76
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 77
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Product placements in entertainment media are increasing, particularly in content targeted to adolescents. This marketing communication tactic is examined in the context of media socialization and individual differences in brand consciousness. The relative influence of commercial media (TV, radio, movies, online) and perceived peer and parent brand consciousness on US adolescent brand consciousness is assessed, as well as differences in how low and high brand-conscious adolescents view product placements. Awareness, liking and perceived effects of product placements on self and others (third-person perception) were measured. Results of hierarchical multiple regression analyses show that movies and perceived parent and peer brand consciousness were positively related to adolescent brand consciousness. Those adolescents considered to be highly brand-conscious were also those who were most aware of and favourable towards product placements. All adolescents demonstrated third-person perception of media effects in that they considered others to be more influenced by product placements than themselves, with peers influenced more than friends. Highly brand-conscious teens perceived the greatest effects of product placements on their own and others’ buying behaviours, yet low brand-conscious teens revealed the largest gap in perceptions of impact on self vs. peers. The results are discussed in view of media effects; ramifications for marketers and public policy makers are also appraised.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 78
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 79
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 80
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Consumers who are infertile and decide to use assisted reproductive technologies undergo lengthy, expensive and potentially risky medical procedures in their quest for a pregnancy and a live birth. In this research we use a consumer model of decision making to analyse the process. We review information available to consumers and we assess use of an online bulletin board which gives consumers social support and medical information during the process. We conclude with the needs for consumer education and protection.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 81
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Environmental problems are mainly attributable to the impact of humans on natural systems. In the case of Malaysia, rapid urbanization and Malaysian consumer’ pursuit of consumption-oriented lifestyles have intensified the solid-waste management problem faced by the government. Increasing public environmental awareness is a potential way of addressing this. The objectives of the study described here were to assess the level of environmental knowledge among households in Selangor in Malaysia, examine the sources of their environmental knowledge, determine factors that lead to different levels of knowledge and analyse the relationship between knowledge and environmental attitude, behaviour and participation. The results of the study indicate that, in general, respondents’ basic or general environmental knowledge was high. However, when questioned on various scientific environmental terms, the majority of the respondents were not familiar with most of them. Respondents indicated that their main sources of environmental knowledge and information were newspapers, television and radio. Lower levels of education were reflected in the level of environmental knowledge. Participation in environmental activities had a positive influence on knowledge. The study also found that knowledge correlated positively with environmental attitudes, behaviours and participation.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 82
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The purpose of this qualitative study was to explore the teaching beliefs of instructors who provide consumer education clinics (e.g. tile laying, faux painting, faucet replacement) in home improvement retail stores. Research in adult and higher education and the K-12 field demonstrate that beliefs about teaching and learning and their relationship to practice are quite significant. Only recently have teaching beliefs begun to receive attention in the field of consumer education. Using participatory observations and in-depth interviews a complex picture was revealed about non-formal consumer education representative of a customer-centred approach, an emphasis on transmission model of education, a fostering of fun and informal communication, minimal learner expectations and an epistemology rooted in personal experience. The implications are important for training future adult educators who practise in non-formal consumer education settings.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 83
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Disadvantaged consumers are often the victims of consumer fraud; low-income Latinoa immigrants are especially likely to be victims due to their lack of English proficiency and inexperience in the local marketplace. A qualitative research study using purposeful sampling was conducted to identify areas of consumer fraud experienced by 45 Latino immigrants. Types of unscrupulous practices are identified, including sales of automobiles, prepaid telephone cards and counterfeit documents. Problems with fraud are discussed in terms of a model of disadvantaged consumers and implications for education are suggested to counteract the identified problems.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 84
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 85
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 28 (2004), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Participation at the local level is an important factor in determining the success of programmes developed to achieve sustainable development. This paper is concerned with debates over the role of the individual citizen in relation to that participatory process. In particular, it focuses on the UK Governments’ citizens environmental initiative ‘Going for Green’ (GFG). Through this initiative a five-point Green Code was developed to assist in the delivery of its sustainable development message to the general public. The initiative's overall approach to participation was based on an assumption that the primary barrier to translating environmental concern into local action was a lack of information, and that individuals would respond to messages in a similar way. As a research strategy, the case study was used to evaluate how the initiatives’ pilot Sustainable Communities Project was implemented in two comparative geographical communities in Merthyr Tydfil (South Wales). Research findings from this study have demonstrated that the case study was invaluable in terms of understanding the participatory process and experiences of broad a range of community stakeholders. Promoting a single model of participation, GFG was found to restrict the participatory process in terms of who was encouraged to participate, the scope of their participation, and those outcomes that could be achieved. This paper concludes that if significant progress is to be made in relation to achieving sustainable development, the role of the individual citizen needs to be extended beyond that of a consumer of the environment, and involve active participation in a process that is based on collective action.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 86
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 28 (2004), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper examines the influences of question wording on consumers’ levels of support for genetically modified organisms (GMOs) in food products. Pairs of questions, offering varied amounts of information on the benefits and risks of GMOs, are posed to consumers in a specific geographic area (Vermont, USA) to ascertain the factors that impact on levels of support for this technology. A multivariate analysis is conducted to examine how knowledge, attitudes, and behavioural intentions affect changes in levels of support. The findings suggest that consumers’ levels of support do vary based on question wording. It is further found that knowledge and behavioural intentions play a consistently significant role in influencing change in support for GMOs. Implications for both consumer advocacy groups and industry groups are discussed.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 87
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Home economics and civics as school subjects in Japan have a common feature, in that both subjects nurture a sense of citizenship at home, in the workplace and in the wider society. In addition, both have the potential to help students recognize the gender bias around them and can empower them to help make a more gender-equal society. Focusing on this, the purpose of this report was to investigate home economics and civics teachers’ views, in order to analyse the features of the two subjects and the relationship between them. Questionnaires were sent to home economics and civics teachers of all the senior high schools in four prefectures around Japan in October 2001, and 357 samples were analysed. The results were as follows: (a) Home economics teachers and female teachers expressed more interest in lessons on gender than civics teachers and male teachers. Concerning lessons on citizenship, no statistical difference in teachers’ interest was found. (b) Topics on citizenship were learned in the fields of consumer, environment and social welfare issues in both subjects. More lessons were reported to take place in home economics than in civics. (c) In home economics, topics on gender were learned as core issues in the areas of family relations, family law and parenting. On the other hand, in family law, civics, topics on gender were taught as marginal issues in the area of basic human rights and labour issues. (d) Home economics teachers thought the goals of gender education were to empower students to overcome narrow gender roles and to strengthen self-respect. In contrast, civics teachers thought it would empower a sense of human rights. Concerning citizenship education, teachers of both home economics and civics thought the goals would enable students to recognize social problems as their own issues and try to solve them.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 88
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 89
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 27 (2003), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The use of biotechnology in food production has generated considerable debate involving the benefits and risks associated with its use. Consumer acceptance of genetically modified foods is a critical factor that will affect the future of this technology. Using data from a national survey, this study examines how public acceptance of food biotechnology is related to consumers’ socioeconomic and value attributes as well as the benefits associated with the use of this technology. Empirical results suggest that consumer acceptance of food biotechnology increases considerably when the use of this technology brings tangible benefits for the public. Consumers with different socioeconomic and demographic attributes have diverging views of food biotechnology only when its use brings specific benefits to them. When the use of genetic technology confers no additional benefit, public attitudes towards genetically modified foods are driven primarily by their scientific knowledge, views of scientists and corporations associated with biotechnology as well as public trust and confidence in government.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 90
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This investigates the reasons behind the dramatic growth of Internet auction companies such as eBay, exploring into why so many consumers have been motivated to turn to online auctions to purchase and sell goods. It is found that the ability to purchase items at lower prices than from retail stores is the primary motivation, along with having access to previously unobtainable items. Concerns mainly relate to potential fraudulent transactions, although the negative feedback system is found to be vital in the reduction of fears over fraud. Interaction with other auction users is found to be important for practical reasons such as information seeking, rather than for enjoyment. The main conclusion is that the benefits of using Internet auctions far outweigh the risks involved.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 91
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This exploratory study sought to investigate South Asian restaurants in Edinburgh, Scotland, UK in order to obtain a preliminary identification of marketing gaps compromising their future profitability. The aims of the study were to expose and understand the relative importance attached by owners and managers of South Asian restaurants in Edinburgh to the different elements of the marketing mix. South Asian restaurants form a small but important sector of the restaurant in market in towns throughout the UK and are characteristically of disproportionate financial and social importance to the communities who run them. South Asian restaurants in Edinburgh, as in most towns in the UK, are run primarily by the Bangladeshi community and are under increasing pressure as the variety of restaurants operating in the sector increases. The results of the study make evident that any initiatives taken to support South Asian restaurants should include awareness-raising actions. Building awareness, which is perceived to be currently partially understood, of the importance of studying markets, customers and competitors is essential before any advice is given on how to accomplish these monitoring tasks. Equally, a fundamental priority is to encourage self-critical and proactive approaches to business, thus increasing the capacity to identify possible problems and implement correcting measures.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 92
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This study evaluated Haitian consumers’ preferences for three attributes of roasted peanuts: form (dry-roasted vs. honey-roasted), country of origin (Haiti vs. USA) and price (lowest vs. most common vs. highest). A sample of 199 respondents from three locations near Port-au-Prince revealed that price was overwhelmingly the most important attribute, although three well-differentiated consumer segments were identified: the largest (44% of the sample) based strictly on price; a second (29%) distinguished by preference for honey-roasted peanuts of Haitian origin; and a third (27%) preferring dry-roasted peanuts imported from the USA. Segment membership was predicted by gender, education, household size, survey location and whether or not respondents were themselves the purchasers of the peanuts and peanut butter they consumed. Market simulation of a proposed, new domestic product (honey-roasted peanuts from Haiti) revealed that a price near that of the currently imported product would maximize domestic revenues at about 15% above the current base.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 93
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    International journal of consumer studies 29 (2005), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: School is a major area for providing young people with nutritional knowledge and skills. In Northern Ireland home economics (HE) is taught to 11- to 12-year-olds. The 1988 Education Reform Act introduced the national curriculum and HE as a subject was effectively abolished in English schools, and key stage 3 pupils in England are taught nutrition in Science, Design and Technology and in the cross curricular theme of health education. The aim of the study was to compare the attitudes and nutritional knowledge of children in Merseyside, England (M) and Northern Ireland (NI). A questionnaire was designed, which examined attitudes to aspects of healthy eating and tested the subject's knowledge, practical and theoretical, on nutrition and healthy eating. Subjects aged 11–12 years were recruited (M: 541, NI: 128). The majority ‘understood and knew what to eat to have a healthy diet’, ‘liked the taste of healthy food’ and considered that ‘there were healthy foods at home’. However, a significantly greater number in Merseyside agreed that ‘their health will be affected in the future by what they eat now’ (M: 71%, NI: 54%, P 〈 0.01) and agreed that ‘they enjoyed cooking’ (M: 76%, NI: 56%, P 〈 0.01). Whereas more from Northern Ireland agreed that ‘they do not know what foods to eat to have a healthy diet’ (M: 14%, NI: 30%, P 〈 0.01), ‘that healthy eating involved “dieting” ’ (M: 29%, NI: 59%, P 〈 0.01) and agreed that ‘there are no healthy food choices at school’ (M: 23% NI: 42%, P 〈 0.01). More subjects from Merseyside disagreed that ‘healthy eating is a waste of time’ (M: 87%, NI: 77%, P 〈 0.01). The mean knowledge scores (correct answers) from Merseyside were significantly greater than from Northern Ireland (total score: M: 51%, NI: 43%P 〈 0.05; practical score: M: 58%, NI: 49%P 〈 0.05, theory score: M: 38%, NI: 31%, P 〈 0.05). The results indicate that the healthy food message seems to have been better learnt by children in Merseyside but results of surveys in Merseyside into eating habits suggest that many have not put this knowledge into practice.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 94
    Electronic Resource
    Electronic Resource
    Oxford, UK and Malden, USA : Blackwell Science Ltd
    International journal of consumer studies 27 (2003), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 95
    Electronic Resource
    Electronic Resource
    Oxford, UK and Malden, USA : Blackwell Science Ltd
    International journal of consumer studies 27 (2003), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 96
    Electronic Resource
    Electronic Resource
    Oxford, UK and Malden, USA : Blackwell Science Ltd
    International journal of consumer studies 27 (2003), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: A study to compare milk yield, some physico-chemical properties and the chemical composition of milk from 23 indigenous Malawi goats and 10 Malawi local × Saanen crosses was carried out from January to March 2000. The results showed that the average milk yield from the crosses (102.0 ± 11.21 kg) was higher (P 〈 0.01) than that from the indigenous goats (37.1 ± 4.79 kg). However, the pH and specific gravity of both milk samples did not differ significantly from each other. The latter was attributed to the fat and total solids contents, which did not differ significantly in the two milk samples. Although the crude protein content was not significantly different, lactose and minerals, namely calcium, sodium, magnesium, potassium and chloride, were higher (P 〈 0.01) in milk from the crosses than in milk from the indigenous goat. The results have shown that the levels of nutrients in goat milk are high, and this is indicative of its potential to improve the diets of rural Malawians. Also, as smallholder farmers sell raw unheated milk to the processing plants, such milk should not be kept for〉 33 h in the cool dry season and for not〉 20 h in the hot dry season. Farmers can also adopt a charcoal cooler to save the milk for an even longer time than they can at room temperature. In this case, the raw milk can only be stored for not〉 20 h in the cool dry season and not〉 16 h in the hot dry season.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 97
    Electronic Resource
    Electronic Resource
    Oxford, UK and Malden, USA : Blackwell Science Ltd
    International journal of consumer studies 27 (2003), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This article examines how the price knowledge of Finnish consumers has changed since the adoption of the euro. Our study measures price knowledge by comparing consumers’ price estimations with actual market prices at two points in time: before (October 2001) and after (March 2002) the changeover to the euro. Furthermore, we study potential differences between three different age groups. We approach the issue using four determinants, namely (1) response percentage (the percentage of respondents who were able to give a price estimate); (2) the difference between the median of the market prices and the median of the price evaluations; (3) the difference between the average of the market prices and the average of the price evaluations; and (4) the average of the absolute deviations between the average of product prices and consumer price evaluations. Our results indicate that, on average, consumers know the prices of grocery products quite well despite the prevailing dispersion of actual prices in the market. Price knowledge was found to be rather good both before and after the introduction of the euro. Nevertheless, the good price knowledge after the changeover was probably because consumers remembered the prices asked in the old currency and converted them to euros. The majority of respondents were able to give price estimates that were within the range of actual price dispersion in stores. The results also show some deterioration in price knowledge after the advent of the euro. There was variation between different age groups, and it seems that the introduction of the euro has affected various groups differently. Consumers aged 30–50 years knew prices best both before and after the euro, whereas the ability to estimate prices had declined most among consumers above 50 years after the euro changeover.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 98
    Electronic Resource
    Electronic Resource
    Oxford, UK and Malden, USA : Blackwell Science Ltd
    International journal of consumer studies 27 (2003), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The sensory quality characteristics of four flavoured soymilk samples including vanilla, banana, coffee and chocolate were evaluated at varying concentrations of the flavour. This was done to establish the most acceptable flavour and desired concentration for commercial production of soymilk and also to facilitate increased consumption of soymilk for improved nutrition. Hot extraction of the milk from blanched soybeans was achieved by blending in hot water and sieving through muslin cloth. Different concentration levels of the flavours being assessed, namely chocolate, coffee, vanilla and banana, were added. Consumer preference for the various samples was assessed using a nine-point hedonic scale. Addition of flavours was found to improve the sensory characteristics and consumer preference of soymilk. Colour, taste, aroma, mouthfeel and hence overall acceptability of the soymilk samples were improved significantly by the addition of vanilla, banana, coffee and chocolate flavours. The maximum concentrations of the individual flavours for optimal sensory impact were established. Based on the results, the following flavour concentrations are recommended per 100 ml of soymilk: 0.03% vanilla, 0.01% banana, 1.5% coffee and 4% chocolate.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 99
    Electronic Resource
    Electronic Resource
    Oxford, UK and Malden, USA : Blackwell Science Ltd
    International journal of consumer studies 27 (2003), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In 2002 and 2003, I was selected as a funded consumer representative and a member of the Board of Trustees of the National Association of Insurance Commissioners (NAIC). This abstract describes the experience and what it means to empower consumers. Although the example given is from the US, the principles are applicable to other countries.NAIC is the association of the chief insurance regulators of the 50 states, four territories, and the District of Columbia. As a consumer representative I attend four national meetings each year to speak up on behalf of the fair and equitable treatment of consumers. The purpose of NAIC is to improve state insurance regulation by facilitating a degree of uniformity of regulation among the states (Cude, 1997). To ensure that consumers were heard, NAIC created its Consumer Participation Program in 1992 (Cude, 1995).At a typical meeting, there are about 500 regulators, 1000 industry representatives, and 13 consumer representatives. Five of the 13 are selected to serve on the Board. The consumer representatives include professors, lawyers, economists, and community activists. Being so few in number, the question arises: How effective can we be? The fundamental responsibility is to represent consumers’ viewpoints, to give authority to or to voice their perspective that is the definition of empowerment. This quite literally means going to the microphones at NAIC meetings, but it also means working behind the scenes drafting policy and model laws.According to A. Coskun Samli (2001), empowering the consumer will benefit society as a whole. It will expand the economy. Serving as a consumer representative is indeed a worthwhile challenge, a chance to change things for the better.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 100
    Electronic Resource
    Electronic Resource
    Oxford, UK and Malden, USA : Blackwell Science Ltd
    International journal of consumer studies 27 (2003), S. 0 
    ISSN: 1470-6431
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Many researchers have studied and documented the financial literacy of youth. Even more have developed educational programs or curricula to teach financial and consumer issues to youth; however, few have actually evaluated the effectiveness of their programs. The Money Talks: Should I be Listening? curriculum, developed by a University of California Cooperative Extension team, was created to appeal to teenagers as it increased their financial literacy. In order to develop a program that young people would readily use, and from which they would learn, teenagers were surveyed prior to program development to determine the topics that were relevant to them, the educational format that appealed to them, and when and where they preferred to receive the information (Varcoe, Peterson, Garrett, Martin, Rene, & Costello, 2001).This paper discusses the effectiveness of The Money Talks: Should I be Listening? curriculum on the financial knowledge and behaviour of participants using the series. The curriculum was designed for use as a part of school curriculum as well as for presentation in other venues.The findings indicate that using the curriculum did improve the financial literacy of high school students with significant positive changes in both knowledge and behaviour. They have a better understanding of the value of savings and have changed behaviours. It is interesting to note that the males demonstrated a significantly greater increase in knowledge from pre-test to post-test than females. Perhaps the females have more interest in or knowledge of financial issues prior to participation in this project?Overall the results of this study are consistent with the findings of others. Research based curricula in personal finance seem to yield results. This age group has specific requirements for method of delivery and location of the seminars suggesting that it is important to keep the materials interactive. To address this issue, a web-site was added to the program. Included on the web-site are interactive games and a video on the importance of saving. The teens are naturally more interested in learning about the consumer and financial issues they perceive as salient in their lives at that particular time. Educators should identify topics of interest to the teens and develop, or use existing, interactive methodology to present the information.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
Close ⊗
This website uses cookies and the analysis tool Matomo. More information can be found here...