Impact of the Financial Crisis on Cross‐Border Mergers and Acquisitions and Concentration in the Global Banking Industry

The global banking industry has seen dramatic changes in the past 40 years. Most recently, the financial liberalization of emerging markets and the global financial crisis have significantly impacted the market share of banks worldwide. This article investigates the impact of the 2007–2008 financial crisis on cross‐border mergers and acquisitions (M&As) in the banking sector and emphasizes the role of emerging‐market banks in the postcrisis consolidation trend. Using M&A data and concentration data over the period 2000–2013, our analysis indicates that the financial crisis had a significant impact on worldwide M&As, especially on the direction of the transactions. Emerging‐market banks appear to be major acquirers in the postcrisis period, targeting both neighboring countries and developed economies in Europe. We also observe an increase in bank concentration in developed markets most hit by the financial crisis, especially in the United States and the United Kingdom, whereas bank concentration decreased in emerging markets. © 2015 Wiley Periodicals, Inc.     

Motivations of Fresh-Cut Produce Firms to Implement Quality Management Systems

A survey of the fresh-cut produce industry (e.g., bagged salads, baby carrots, stir-fry mixes, cut-fruit mixes) shows firms' motivation to adopt quality management systems and the effects of implementation on firms and their relationships with suppliers and customers. Data from surveyed members of the International Fresh-cut Produce Association suggest that system adoption was very widespread. The effects were intra-firm (e.g., improved management and efficiency of quality systems) and inter-firm (e.g., improved identification and facilitation of trade with firms in the supply chain). Satisfaction with adoption of quality management systems was linked to many of the same factors.     

Standards as Barriers Versus Standards as Catalysts: Assessing the Impact of HACCP Implementation on U.S. Seafood Imports

The United States mandated a Hazard Analysis Critical Control Points (HACCP) food safety standard for seafood in 1997. Panel model results for 1990 to 2004 suggest that HACCP introduction had a negative and significant impact on overall imports from the top thirty-three suppliers. While the effect for developed countries was positive, the negative effect for developing countries supports the view of "standards as barriers" versus "standards as catalysts." A different perspective emerges from individual country-level analysis. Regardless of development status, leading seafood exporters generally experienced a positive HACCP effect, while most other smaller trading partners faced a negative effect.     

THE FUTURE OF STATE INSURANCE REGULATION: CAN IT SURVIVE?

Abstract: As Congress continues to debate the future of financial services affiliations, state insurance regulators are faced with blurred lines of regulatory authority and the opportunity of federal banking regulators to preempt their decisions and their enforcement of consumer protection statutes. This article attempts to remind readers of the history and significance of state insurance regulation and provide clear evidence of its continued importance in the future of the conglomerated financial services marketplace.     

How information systems influence user decisions: a research framework and literature review

Technology has created new information alternatives that may influence the way information system users make decisions. This paper proposes a research framework for examining how features of an information system affect the decision-making process. The framework is synthesized by merging frameworks from the accounting information systems (AIS) literature and the human information processing (HIP) literature. The framework is then used to organize a literature review of 15 journals from 1987 through mid-1999, which identified 57 decision-making studies. Findings indicate that a wide range of opportunities is available for information systems research on issues of contemporary importance. This discussion includes changes in the decision process initiated by implementing enterprise resource planning (ERP) systems, data warehouses, electronic commerce, virtual organizations, on-line financial reporting, and disaggregated financial statement information.     

Tourists’ intention to visit a country: The impact of cultural distance

Culture has long been recognized as a possible reason why people in different countries make different decisions, but research into its impact in tourism contexts has been limited. This study addressed this gap by examining the influence of cultural distance on tourists’ destination choices. Five cultural distance measures were examined. Of the five measures, perceived cultural distance and Clark and Pugh's index were found to be most strongly related to Australian tourists’ intentions to visit a variety of holiday destinations. The perceived cultural distance measure appeared to be a better predictor and offers some advantages to researchers as it allows respondents to include relevant cultural information in tourism research. However, as Clark and Pugh's method provided similar information, cultural differences can be inferred when it is not possible to survey tourists directly.     

Nonprofit mergers: Assessing the motivations and means

As nonprofit organizations seek to remain viable in an increasingly competitive environment, merger is an attractive (albeit complicated) option. This case study of the largest nonprofit association merger in U.S. history, involving three bowling associations, demonstrates the critical role of leadership in consummating a merger. The case illustrates a number of factors necessary to merger success: existence of a catalyst leader and a nucleus of like‐minded individuals who can serve as the impetus for change, sufficient time to accommodate the psychological and practical aspects of merging, opportunities for building social capital among the people involved in the merger, and preservation of cultural remnants that are carried over from the predecessor organizations to the newly merged entity.