Monkeys vs Fund managers - An evaluation of alternative equity indices

Author(s):

Andrew Clare

 et al.

A research collaboration between Aon Hewitt and Cass Business School has shown that alternative weighted indices offer better investment strategies than those of the market capitalisation index. Indeed, a computer simulation of random stock-picking, likened to the decision making of a monkey, outperformed a traditional market capitalisation weighted index every time.

Updated: 21/08/2014
Comments: 20
Views: 24,497

Job Satisfaction and Quality Management: An Empirical Analysis


Quality management requires increasing employee involvement, with the aim of attaining improved employee and customer satisfaction. However, although it may lead to increasing job demands and intensification, the evidence of an association between employee job satisfaction and quality management remains mixed and narrow. This study investigates this link in the wider economy, and addresses the role of human resource management practices that target direct employee participation (job enrichment and high involvement management) in this relationship.

Updated: 28/03/2013
Comments:
Views: 3,651

Could too much innovation hold Formula One teams back?

Formula 1 racing teams that focus on new technology could actually hamper their chances of winning, according to a new study from Cass Business School. Our findings suggest that teams which concentrate on optimising their existing technology actually perform better.

Updated: 19/03/2013
Comments:
Views: 2,134

Pensions and Growth: Smoothing in Pension Scheme Funding Valuations

In response to continuing deficits in UK defined pension benefit schemes since the start of the millennium, various parties have asked the UK Government to allow pensions schemes to calculate liabilities using a smoothed average of bond yields over several years. This paper explores the reasons for this request, and looks at multiple evidence of what impact, both beneficial and potentially risky, such a move could have.

Updated: 18/03/2013
Comments:
Views: 1,845

Reverse Knowledge Transfer from Subsidiaries to Multinational Companies: Examples From South Korea

Author(s):

Chris Rowley

 et al.

The debate around primary determinants influencing Reverse Knowledge Transfer has yet to attain academic consensus. This paper draws an overall picture of Reverse Knowledge Transfer from subsidiaries to parent firms, particularly in the context of an energetic emerging market, by incorporating all the different facets of the phenomenon. The research is based on a sample of subsidiary companies located in South Korea.

Updated: 13/03/2013
Comments:
Views: 3,911

Developing a better understanding of Community Foundations in the UK

With a greater emphasis on localism currently being seen in public policy discourse, this paper examines the role played by Community Foundations in furthering the tenets of community leadership and philanthropy. The paper then challenges the 'single model' view of UK Community Foundations.

Updated: 11/03/2013
Comments:
Views: 2,010

The Sale of Price Information by Stock Exchanges: Does it Promote Price Discovery?

An essential function of securities markets is to discover asset values. The function is critical for an efficient allocation of capital in the economy, as better price discovery in the stock market translates into better capital allocation decisions. For this reason, regulators and academics often see the maximisation of price discovery as an extremely important goal. Market design depends in large part on the decisions of stock exchanges and stock exchanges themselves are now for-profit firms. Their income derives from trading revenues and increasingly from the sale of information on prices. In this paper, we show that the efficiency of price discovery is, among other factors, determined by the fee charged by exchanges for price information.

Updated: 06/03/2013
Comments:
Views: 4,876

Supply Chain Agility: Solving the Agility Puzzle

Having redefined strategic sourcing and discussed what operational flexibility and supply chain agility entail, Dr. Canan Kocabasoglu-Hillmer now considers how companies can utilise strategic sourcing to increase the agility of their supply chain. This is the fourth and latest entry in our series on supply chain agility.

Updated: 05/04/2013
Comments:
Views: 3,406

Venture Capital meets Contract Theory: Risky Claims or Formal Control?

This paper develops a financial contracting model to investigate the allocation of control and cash flow rights attained through contractual covenants in Venture Capital deals. It argues that an innovative startup should seek to limit the VC's control rights when arranging a riskier claim, so as not to stifle entrepreneurial initiative. This research challenges the standard assumption that greater control rights should be assigned to such a venture.

Updated: 06/03/2013
Comments:
Views: 3,286