How They Spend It: A study of corporate cash levels and spending behaviour

Author(s):

Scott Moeller

 et al.
Industry:
Any Industry

This research examines Corporate Cash Holdings, Corporates' Spending Patterns and Optimal Spending Strategies, using all non-financial and non-utility companies listed on the London Stock Exchange at any point in time between 1996 and 2010 as a study sample.

Updated: 03/01/2015
Comments: 31
Views: 2,533

Cannot Make Do Without You: Outsourcing by Knowledge-Intensive New Firms in Supplier Networks

Author(s):

Ajay Bhalla

 et al.
Topic:
Strategy
Industry:
Any Industry

Outsourcing is a strategy which involves sourcing activities that firms may not have completed in-house in the past, or the substitution of internal activities by transfer, in part or whole, to a third party supplier. This research focuses on two exploratory research questions - how do new firms use outsourcing to access valuable resources and capabilities residing in supplier networks, and secondly, what capabilities do new firms need to successfully outsource in supplier networks?

Updated: 22/01/2013
Comments:
Views: 2,064

Can a gift-exchange model explain a potential link between flexible working and organisational performance?

In the UK, the benefits of flexible working, for both employees and employers, have been widely advocated. Data suggests there has been an increase in the offering of flexible working options to employees in Britain, and that similar schemes have been introduced across Europe. A systematic review of the academic research showed that a clear link between flexible working arrangements and organisational performance is yet to be established. In fact, a large empirical study of firms in the UK, France, Germany and the USA concluded that there was no direct link between flexible working practices and firm performance. This study examines data from the Workplace and Employment Relations Survey of 2004 to facilitate further understanding.

Updated: 04/01/2015
Comments: 41
Views: 4,363

A fractional cointegration analysis of European electricity spot prices

Author(s):

Lilian M. de Menezes

 et al.
Topic:
Finance
Industry:
Any Industry

Well-functioning energy markets that secure energy supply and competitive prices are important factors for economic growth and consumer welfare. Liberalised and integrated markets are expected to benefit the public by securing supply and stimulating competition. At present the European electricity market liberalisation is the world's most extensive cross-jurisdiction reform of the electricity sector. This study extends the existing literature about European electricity market integration by adopting a fractional co-integration analysis and providing empirical evidence that the classical unit root test framework may be inadequate because of long range dependencies in electricity spot prices.

Updated: 05/01/2015
Comments: 15
Views: 2,439

The impact of Private Equity on employment, wages and human resources management.

Author(s):

Nicolas Bacon

 et al.

The impact of private equity backed leveraged buyouts (LBOs) has attracted increased regulatory scrutiny in the past two decades. This reflects the private equity industry's growing economic importance, and also the increased activity of private equity firms beyond their traditional US and UK markets. Private equity's growing presence in continental Europe in particular has caused considerable public controversy in terms of implications for workers and labour unions. This paper explores the impact of private equity LBOs on three labour management issues central to recent debates: employment and wages; human resource management practices; and industrial relations. We concentrate on these aspects because the impact of private equity LBOs on labour management and workers' interests continues to inform debates concerning the appropriate regulatory framework in which the private equity industry operates.

Updated: 04/01/2015
Comments: 7
Views: 6,386

How to stay in pole position: hire a boss who has worked on the floor

Analysing 60 years worth of data, Amanda Goodall and Ganna Pogrebna discover that the most successful Formula One teams are those led by former competitive drivers. Teams led by managers who have less 'hands-on' experience within the sport tend to underperform in comparison. This research suggests why greater experience of driving makes for more successful team leaders, and what this can teach us about leadership in other industries.

Updated: 03/01/2013
Comments:
Views: 2,736

Technology Alliance Governance, Partner Selection, and Firm Innovativeness

Interfirm technology alliances represent an important mechanism through which firms develop new technologies, products and processess. Research shows that the governance structure of such alliances is an important factor affecting the contribution it makes to a firm's innovativeness. Joint ventures are proven to be more effective knowledge transfer vehicles than contractual agreements, and yet alliance formation research shows that firms often govern technology alliances by the latter. If innovation motivates technology alliance governance decisions and if joint ventures increase firm innovativeness, then it is not clear why so many alliances are governed by contactual agreement. This paper tackles this conundrum and aims to advance understanding of the mechanisms connecting alliance governance to a firm's innovativeness.

Updated: 04/01/2015
Comments: 8
Views: 2,827

Unions, joint regulation and workplace equality policy and practice in Britain: evidence from the 2004 Workplace Employment Relations Survey

The impact of trade unions on discrimination and labour market inequality has been a matter of public concern for many years. Recently, however, observers have suggested that unions have increasingly sought to prioritise equality matters. There is a growing expectation, for example, that they will actively bargain over equality and encourage employers to adopt equality practices in order to protect workers from discrimination. Hence, unions may now have a central role to play in advancing the equality agenda and ultimately helping promote a more inclusive society. This article provides an empirical assessment of the relationship between unionisation and the adoption of equal opportunities policies and practices in British workplaces, using data from the 2004 Workplace Employment Relations Survey.

Updated: 05/01/2015
Comments: 13
Views: 3,129

The Impact of Private Equity on Management Practices in European Buyouts: Short-termism and Anglo American Effects

Author(s):

Nicolas Bacon

 et al.

Private equity firms are accused of increasing the short-term performance of buyouts by reducing investments in human capital. To explore this issue, this paper presents findings from the first representative pan-European survey of managers' perceptions of the impact of private equity on management practices in buyouts. Managers report that private equity investment results in an overall increase in high performance work practices (HPWPs), and the increase is greater where private equity firms anticipate a late exit. Anglo-American private equity buyouts are just as likely to introduce new HPWPs as non-Anglo-American private equity backed buyouts, and also extend financial incentives to cover a greater proportion of employees.

Updated: 04/01/2015
Comments: 5
Views: 2,549