Organizational ambidexterity and financial performance in the banking industry: evidence from a developing economy

Journal of Financial Services Marketing - The paper examined the relationship between organizational ambidexterity on the attitude of employees and the financial performance of the banking sector...     

Expected shortfall estimation for apparently infinite-mean models of operational risk

Statistical analyses on actual data depict operational risk as an extremely heavy-tailed phenomenon, able to generate losses so extreme as to suggest the use of infinite-mean models. But no loss can actually destroy more than the entire value of a bank or of a company, and this upper bound should be considered when dealing with tail-risk assessment. Introducing what we call the dual distribution, we show how to deal with heavy-tailed phenomena with a remote yet finite upper bound. We provide methods to compute relevant tail quantities such as the Expected Shortfall, which is not available under infinite-mean models, allowing adequate provisioning and capital allocation. This also permits a measurement of fragility. The main difference between our approach and a simple truncation is in the smoothness of the transformation between the original and the dual distribution. Our methodology is useful with apparently infinite-mean phenomena, as in the case of operational risk, but it can be applied in all those situations involving extreme fat tails and bounded support.     

Effects of multimember districts on black representation in state legislatures

We look at the most general feature of multimember districts (MMDs) as compared to single-member districting (SMD) plans: the higher likelihood of submergence of minority voting strength. We focus on data on black legislative representation between 1977 and 1982 in the 11 states with more than 15% black populations, and compare states which use MMDs with those that use SMDs. We also examine changes in black representation in states which shifted from MMDs to SMDs. In addition, for MMD state legislative elections in eight North Carolina counties between 1978 and 1982, we examine in detail the nature of minority submergence including the lack of geographic representativity of the persons elected from MMDs. The counties we examine contain four of North Carolina’s largest cities and a substantial portion of North Carolina’s black population. Unlike almost all of the previously published literature on racial representation in MMDs, our study deals with state legislative races and not local elections.     

The business and the politics of decolonization: the British experience in the twentieth century

In synthesizing recent studies of the relationships between British businesses and British governments during decolonization, the article takes issue with the ‘gentlemanly capitalism’ paradigm. Imperial business and imperial government did not represent a cohesive elite; private and public agencies were frequently divided on key tenets of decolonization strategy; and, more often than not, it was broader macroeconomic and geostrategic factors rather than the agendas of particular business interests, that informed imperial policy.     

An investigation of the relative efficacy of four alternative approaches to importance-performance analysis

Journal of the Academy of Marketing Science - Importance-performance analysis is a tool which has been used in several contexts to transform research results into practical marketing actions. The...     

Trade Credit Management and the Decision to Use Factoring: An Empirical Study

This paper examines the firm's decision to use factoring amongst a cross-sectional sample of 655 manufacturing companies using a rich firm-level database. The paper develops and tests hypotheses that explain this particular choice of credit and financial management policy. We find strong evidence of a 'financing demand' explanation for the use of factoring, and also some support for theories which relate the decision to use a factor to the firm's product characteristics, to market characteristics and to the preferences of the factor (supply constraints). The motivation to use factoring, however, appears to be related more to a demand for asset-based finance from small companies than to firm-level choices about organisational structure.     

BlackBerry in red China: Research in motion navigates institutional barriers in an emerging market. Case comment: RIM in China

Research in Motion's (RIM's) entry into the Chinese market during a time when many distractions —principally a patent dispute with NTP—occupied management's attention was not a foregone conclusion. China remained a difficult market to crack. One holdup was an impasse with regard to RIM's use of encryption technology and the Chinese authorities' desire to monitor e‐mail traffic and content. Here the technical and political concerns were entangled. To further complicate things, the entirety of RIM had until recently been preoccupied with the legal settlement with NTP in the United States. Issues in this study highlight real‐world dilemmas in a thriving firm. The founders are still in charge, and new markets present themselves regularly. A very real challenge is divided attentions. The standstill over market entry calls for integrative thinking—bringing together disparate and contradictory elements for resolution. RIM's way out will invariably involve embracing complex relationships in order to find a resolution to the various conflicting institutional forces. © 2008 Wiley Periodicals, Inc.     

Airports in their urban settings: towards a conceptual model of interfaces in the Australian context

In Australia, airports have emerged as important sub-regional activity centres and now pose challenges for both airport operation and planning in the surrounding urban and regional environment. The changing nature of airports in their metropolitan context and the emergence of new pressures and problems require the introduction of a fresh conceptual framework to assist the better understanding of these complex roles and spatial interactions. The approach draws upon the meta-concept of interfaces of an ‘airport metropolis’ as an organising device consisting of four main domains: economic development, land use, infrastructure, and governance. The paper uses the framework to further discuss airport and regional interactions and highlights the use of sustainability criteria to operationalise the model. The approach aims to move research and practice beyond the traditionally compartmentalised analysis of airport issues and policy-making by highlighting interdependencies between airports and regions.