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: 1,764

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
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Views: 4,423

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
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Views: 3,000

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
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Views: 3,005

Buttressing Supply Chains against Floods in Asia for Humanitarian Relief and Economic Recovery

Author(s):

ManMohan Sodhi

 et al.
Topic:
Operations

Flood is the most frequently occuring natural disaster worldwide, with Asia suffering the highest incidence. While humanitarian efforts and initiatives to alleviate suffering caused by floods are ongoing, we believe there is a new opportunity to coordinate "last mile" humanitarian efforts in the event of a flood, using micro-retailers. Micro-retailers are the 'last mile' nodes in traditional retail supply chains in many Asian countries, and we propose the use of social enterprise to buttress these supply chains for distribution of essential goods by coordinating with micro-retailers before and after floods. In support of this we also present a stylised model to quantify the benefits of our proposal.

Updated: 25/02/2013
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Views: 4,052

Corporate Social Responsibility and New Job Seekers in the Greater China Region: Factors in Application Decisions

Author(s):

Chris Rowley

 et al.

Despite the post-2008 financial crisis economic fallout, demand for skilled employees outstrips supply in various locations. What might assist organisations in tight labour markets better understand how prospective employees choose the jobs they apply for? Signaling theory explains how job seekers are attracted based on the information and signals they receive (directly and indirectly) about organisations. There is evidence that Corporate Social Responsibility is one of the signals that can motivate and retain workforces. Our study examines the extent to which job choices are influenced by CSR issues (a company's legal, ethical, philanthropic responsibilities) as compared to traditional job characteristics (salary, prospects, location, company type). Our focus is on the Greater China Region.

Updated: 22/02/2013
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Views: 3,294

Non-parametric prediction of stock returns based on yearly data. The long term view.

Author(s):

Jens Nielsen

 et al.
Industry:
Banking

Is it possible to predict equity returns and premiums with the use of empirical models? This is one of the most frequently pondered and studied questions in finance. In this research we examine the predictability of returns, taking the actuarial long term view and basing predictions on yearly data.

Updated: 25/06/2013
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Views: 1,854

Learning From Your Investors: Shareholder support in M&A transactions

Author(s):

Maria Carapeto

 et al.
Industry:
Any Industry

With companies increasingly looking at targets abroad, the need to acquire specialised knowledge about the target, the target country's environment and the potential merits that may result from a given M&A deal is becoming ever more important. This research looks at the assistance long-term institutional shareholders could offer corporates in achieving their aims.

Updated: 08/02/2013
Comments:
Views: 1,575

The Cass MARC M&A Maturity Index 2012

Author(s):

Scott Moeller

 et al.
Topic:
Finance
Industry:
Any Industry

In collaboration with its research partners, Credit Suisse and Ernst & Young, the M&A Research Centre (MARC) at Cass Business School provides its second annual report (July 2012) on the maturity for M&A purposes of countries worldwide. The Cass MARC Maturity Index illustrates each country's ability to attract and sustain M&A activity, as well as identifying areas where improvement is needed. The index rates 148 countries according to their regulatory and political, economic and financial, technological and socio-economic environments, as well as their level of assets and infrastructure. It looks at the attractiveness of each country for domestic and inward deals and does not address external acquisitions for companies based in that country.

Updated: 06/02/2013
Comments:
Views: 1,580