Snatching capital campaign success from jaws of failure

This article details the steps of one medical center which turned an "almost" $3.1 million capital campaign into a success. Leadership provided the steps to victory for a development director who stepped into a job with the high prospects of failure. In two years, he made his goal.     

The importance of volunteers in a capital campaign

One of the most significant factors in the success of any capital campaign is the number, quality and commitment of volunteers used to guide, implement and promote the campaign. This paper will discuss the importance of using volunteers and the critical roles they play within the campaign. The volunteer as giver, asker and motivator will be explained. An example of a typical campaign organisational chart is provided to help the reader identify the number and types of volunteers necessary to implement a successful campaign. Volunteers have many roles to play, and getting the right person to fill each of these roles is essential to success. Methods for recruiting volunteers and the materials that are needed to implement a successful recruitment strategy are included in this discussion. Particular emphasis is placed on the role of the campaign chair as the leader of the campaign effort. The unique role of the Board of Directors as volunteers during a capital campaign is addressed in this paper. Strategies for keeping volunteers involved and motivated are discussed, along with tips to make the volunteer campaign experience a satisfying one for both staff and volunteer. In summary, the author contends that the use of volunteers in a capital campaign is essential to the success of the campaign. Copyright © 2002 Henry Stewart Publications     

Strategic human capital and the performance of public sector organizations

Organization scientists have long considered human capital as a strategic asset that contributes to organizational effectiveness. Whereas the strategic importance of human capital has been widely studied in the case of for-profit organizations, measurement difficulties and the role of human capital in the public sector have received little attention. The present study attempts to bridge this gap by suggesting a behavioral approach to measuring organization-specific human capital and examining its impact on the financial performance of local government authorities in Israel. The results confirm the strategic importance of human capital. Local government authorities that possess strategic human capital—namely, a workforce that is highly educated, that exhibits organization-specific competencies and experience, and that is valuable, unique, and imperfectly imitable—exhibited a better financial performance, as measured by a three-financial ratio scale over 2 fiscal years.     

The role of intellectual capital in the success of new ventures

Identifying the factors that contribute to the success of new ventures is a difficult and challenging task. In that respect, this paper proposes an analysis of the intellectual capital within new business ventures. Based on the study of a sample of 130 new companies, for the purpose of this work we have analysed the influence of the proposed intangible assets on the success of newly-created organizations, acknowledging the key role of the human and relational capital in the first few years of the life of the business.     

Dividend reinvestment plans and Pecking Order capital structure behavior: An empirical investigation

Due to the asymmetric information effect, corporations have been reluctant to use external sources of equity capital. The adoption of dividend reinvestment plans (DRP) by large numbers of firms may indicate an alternative way to raise external equity funds. It has been shown that many factors may explain a firm’s decision concerning the source of the shares made available to DRP participants. The hypothesis to be tested is that the nature of the DRP actually selected may be predicted by financial characteristics such as cash flow generation, investment needs, historical dividend policy, firm ownership structure and firm capital structure. Using logistic regression analysis, results of joint tests of financial variables suggested by the Pecking Order Theory of capital structure indicate significant support for the hypothesis. Specifically, ownership structure, historical dividend policy and debt ratio are found to be key determinants of the type of DRP utilized.     

The secret of campaign success. How Kansas Special Olympics raised $1.35 million

Non-profits can spend so much time concentrating on how they will reach their goal, that they forget who will help get them there. For Kansas Special Olympics (KSO), the secret to raising a million dollars had as much to do with the people as it did the process.     

Inpatriate managers: how to increase the probability of success

Developing multicultural management teams has gained increasing importance in many global organizations. One global staffing option — inpatriate managers — has the potential to provide a more multicultural management frame-of-reference when developing global strategies. Inpatriates have social knowledge of global operations and countries facilitating the modification of organizational strategies to local competitive/market conditions while ensuring their consistency and coordination with the existing global strategic thrust. This paper addresses the need to provide an effective mechanism for increasing the success rate of inpatriate managers thus improving the global performance of the organization. To achieve enhanced organizational performance the need for a proactive inpatriate program is critical to engender long-term commitment and loyalty of inpatriate managers.     

Project success and project team management: Evidence from capital projects in the process industries

Efficient project execution is a key business objective in many domains and particularly so for capital projects in the process industries, but existing project management research gives little direction about how project team factors influence three important capital project outcomes: cost, schedule, and operability. After an extensive cross-disciplinary review of the general team and project management literatures, we constructed and tested a theoretically based, five-dimensional model of organizational context, project team design, project team leadership, project team processes, and project outcome factors. We examined the model by means of an empirical study of 56 newly completed capital projects executed by 15 Fortune 500 companies in the process industries. The results indicate the value of disaggregating project outcomes for research purposes. Different bundles of project team factors were found to drive project cost, schedule, and operability. Project team efficacy, cross-functional project teams, autonomous project team structure, and virtual office usage were the strongest predictors of project cost effectiveness. Continuity of project leadership, cross-functional project teams, and project manager incentives were the strongest predictors of project construction schedule. In contrast, clear project goals and an office design to facilitate effective communication were the main predictors of plant operability. Implications of these findings for researchers and project practitioners are discussed. One major practical implication of our findings is that project managers need to clearly focus and prioritize their goals for each project so they can adopt the appropriate bundles of project team practices that will facilitate their goal achievement.     

提高股民信心发展资本市场

《中共中央关于完善社会主义市场经济体制若干问题的决定》对发展资本市场十分重视,理论上有许多创新,论述非常精辟、深刻、具体。《决定》关于要“使股份制成为社会主义公有制的主要实现形式”,关于要“有选择分步骤放宽对跨境资本交易活动的限制”等论述,对我国金融体制改革和资本市场的发展,具有深远的指导意义。     

The long-term success of M&;A in the automotive supply industry: determinants of capital market performance

In the recent past, the automotive supply industry has been facing increasing merger activity. This paper examines the short- and long-term wealth effects of horizontal mergers and acquisitions on acquirers in the automotive supply industry. Based on a sample of 230 takeover announcements between 1981 and 2007, significant positive announcement returns to acquiring companies were determined. While these positive short-term returns to acquirers represent an outstanding attribute of this industry in terms of perceived synergy potential, this study also finds that acquirers are unable to sustain this exceptional position beyond a short-term horizon. A combination of the Fama-French-3-Factor model in calendar time and the control firm approach in event time consistently reveals significant value destruction of about 20% over 3years. In addition, the study determines a significant impact of internationalization, transaction volume, product diversification, and acquirer’s bidding experience on the long-term post-acquisition performance.     

Sharing my way to success: A case study on developing entrepreneurial ventures using social capital in an OSS community

While Open Source Software (OSS) communities provide opportunities for knowledge creation, we have a limited understanding of how entrepreneurs leverage OSS communities for their entrepreneurial ventures. Using social capital theory in a mixed methods case study, we compare entrepreneur and non-entrepreneur behaviors to investigate how entrepreneurs build social capital within an OSS community. This study shows that entrepreneurs differentiate themselves from non-entrepreneurs by focusing on cognitive and relational capital building activities, which in return makes it possible for them to leverage their social capital to influence and shape the environment in which they are operating. Our findings suggest that entrepreneurs strategically select which activities within the community to expend their limited resources on (e.g., developing code over participating in email conversations) and build their social capital more through their actions than through their words (e.g., showing their commitment to the community through code commits, bug fixes, and documentation). Given the liabilities of newness and smallness as well as other challenges faced by entrepreneurs, applying an open innovation strategy in OSS communities could be one approach where entrepreneurs, by developing and freely revealing their intellectual property to the community, share their way to success via OSS-infused entrepreneurial business ventures.     

Evaluate health plans

For most benefits administrators, this program probably does not automate a function they are now doing manually, but it does bring a consultant/broker function in-house (although this is only one of many such functions). In some organizations, particularly smaller ones that might skimp on analysis of their health plans before negotiating carrier rate changes each year, it might mean that such analysis actually does take place. But it you are a benefits administrator who has been performing yearly, manual evaluations of your plans, be very careful about trying and demonstrating this software. If you think you might not be granted approval by management to purchase it, you may wish you didn't know how well it works.     

Contingent capital,capital structure and investment

We examine the interaction between investment and financing policies in a dynamic model for a firm with existing assets-in-place and a growth option, of which investment cost is financed with equity and contingent convertible bonds (CoCos). We attempt to clarify how CoCos impact on investment timing, capital structure and inefficiencies arising from debt overhang and asset substitution. We show that there is a conversion ratio (the fraction of equity allocated to CoCo holders upon conversion) to eliminate the inefficiencies. Our conclusions predict that debt leverage decreases with investment option payoff factor and the average appreciation rate of the cash flow. In contrast to traditional corporate finance theory saying that a firm's value decreases globally with business risk, our model indicates that it might first decrease and then increase with asset volatility.     

Evaluation of school plans

A model is presented for simulation and economic evaluation of school plans within the framework of city master planning. The model has been applied to plans for a Swedish city, Västerȧs, and some illustrative results are reported.     

Human capital and the internationalisation of venture capital firms

We examine the neglected area of internationalisation by VCs. Using a representative sample of 195 VCs, we show that the decision of a European VC firm to invest internationally is driven by its human resources. Having more VC executives in general and more VC executives with previous international experience in specific, results in a higher probability of investing internationally. In contrast, more VC executives with experience in the VC industry or with an engineering background lead to a higher probability of remaining domestic.