The value of ongoing venture capital investment to newly listed firms

We examine whether the market values continuing venture capital (VC) investor involvement in firms post-IPO. Compared to the US, Australian VC investors exit their investments post-IPO by on-market sales rather than distribution of holdings to their investors. Lockup periods tend to be longer and ownership thresholds for reporting trades lower. We find that the market responds positively to buy transactions, negatively to sell transactions of VC investors and negatively to the resignation of VC directors. These results are consistent with VC investors in the firm having a positive influence and creating value from which the VCs and other shareholders benefit.     

Shifting models of equality? Union Equality Reps in the public services

This article explores how far the emergence of public sector Equality Representatives represents a departure from a distinct radical model of union self‐organisation generated by the collective mobilisation of politically conscious identities, towards a more inclusive liberal model of equality based on abstract notions of ‘fairness’.     

The pot snack market – are today's consumers demanding health as well as convenience?

Identifying the target audience for hot pot snacks and which factors influence their buyer behaviour is vital information for product developers and manufacturers. The reported market research evaluated the effect of changing lifestyles on the growth of the pot snack market and investigated consumer opinion of pot snacks with particular regard to their nutritional status. This information is of particular interest to health professionals involved in improving the nation's health. A consumer questionnaire measured the opinion of pot snacks, frequency of consumption and influences on the growth of the pot snack market. The 150 consumers comprised 86 males and 64 females aged 11–74 years. The data was analysed using chi‐square (Statistical Package for Social Sciences). Results indicated that within the pot snack market, there are a variety of reasons determining the demand for pot snacks. The frequency of consumption is influenced by knowledge and opinion about the nutritional content of the pot snack product, suggest‐ing that consumers are now demanding health as well as convenience.     

Shut the fridge door! HRM alignment,job redesign and energy performance

Anchored within the strategic HRM and alignment literature, and drawing on efficiency and legitimacy perspectives of organisational behaviour, we investigated a HRM intervention targeted at energy reduction goals in a large multinational retailer. The HRM intervention was focused on embedding the environmental and economic performance goals of the firm within the workplace through redesigning the job so that energy tasks were aligned with training and performance management systems, as well as organisational performance goals. Using a randomised control trial design, we tracked changes in energy behaviours and energy consumption in 769 retail stores (685 in the intervention condition, 84 in the control condition). The findings provide evidence that changing the alignment of HRM practices can influence both worker behaviour and organisational outcomes, including environmental outcomes. This work contributes to debates concerning the impact of HRM alignment on both the work and organisational performance context.     

Analysing the wealth effects of UK divestitures: An examination of domestic and international sales

Here we analyse divestiture announcement effects for UK multinational corporations accounting for the location of the unit sold. We find some bias in market reactions with larger abnormal returns for UK divestitures when compared to overseas sales. US sales generate larger returns than those in Continental Europe or the Asia-Pacific region. We analyse the determinants of abnormal returns using accounting and transaction data, supplemented with country specific data for overseas sales. Abnormal returns for UK sales are explained by financial characteristics of the selling firm but the size of the transaction relative to the firm is the most significant factor in overseas divestitures.     

A qualitative assessment of disability friendly water and sanitation facilities in primary schools,Rumphi, Malawi

Students with disabilities commonly face barriers when accessing water and using sanitation and hygiene facilities at school. International frameworks have prompted governments to enact local policies that enshrine these rights, guarantee equitable access to education and mandate inclusive infrastructure. This research was designed to explore whether Malawi has translated good policies into practice. Data were gathered in Rumphi district, Malawi, through structured field observations in ten schools and interviews with students with a disability (n?=?23), teachers (n?=?11) and government stakeholders (n?=?2). No school had facilities that fully meet the needs of students with disabilities, and private schools were not necessarily better. The cost of bringing existing infrastructure up to standard was on average MK54 000 (US$78). However, proactive consultation with children with a disability is likely to generate alternative low-cost short-term solutions. Increased government support, budgeting and enforcement is necessary to ensure international standards and national policies are met.     

Human development and cross-border acquisitions

We examine the role of human development in US companies' decisions to engage in cross-border acquisitions. Utilizing the human development index (HDI) published by the United Nations Development Program (UNDP), we find that US firms make acquisitions in countries with strong HDI levels. Alternative factors such as institutional quality, life expectancy, telephone usage and school enrolments also have a positive influence on the cross-border acquisition decision. Further, we find a positive relationship between cross-border mergers and acquisitions (M&As) and HDI rankings relative to the United States. Our findings contribute to the literature that seeks to explain why so little capital flows from developed to developing economies.     

Taking worker productivity to a new level? Electronic Monitoring in homecare—the (re)production of unpaid labour

This article explores the use of Electronic Monitoring (EM) in homecare and its impact on the ratio of paid to unpaid working time. It argues that whilst Zero Hours Contracts (ZHCs) blur the distinction between paid and unpaid labour, the introduction of EM can formalise and regulate the demarcation between the two. In the context of local authority commissioning and constrained budgets, the combination of EM and ZHC's may excise so‐called ‘unproductive’ but available labour from homecare. In particular, the minute‐by‐minute commissioning of care that EM facilitates means the cost of homecare is anchored in the time that worker's spend in client's houses, squeezing out paid travel, time between visits, training and supervision. Paid working time is minimised whilst maximising the use of unpaid time with resulting intensification of care labour.     

Collective organisation in small‐ and medium‐sized enterprises – an application of mobilisation theory

This article draws on mobilisation theory to explain the presence and absence of collective organisation in small‐ and medium‐sized enterprises (SMEs). The analysis is based upon case studies of 11 UK SMEs reflecting variation in respect of employment size, industry sector, workforce composition, ownership and product/service market characteristics. It suggests that recently introduced statutory trade union recognition legislation and increased formalisation within some larger SMEs may provide the conditions for unionisation, although the presence and role of ‘key activists’ with union histories is critical to the process of gaining recognition and sustaining organisation. The nature of social relations in micro and small firms, however, inhibits the articulation of injustice. This is not least because the framing of grievances is a high‐risk strategy with a potential to shatter the informal social relationships upon which work is based, and this inhibits the identification of collective interests.