A Comparative Analysis of Takeovers of Single and Dual Class Firms

This paper analyzes takeovers of dual class companies listed on the Toronto Stock Exchange over the period 1976 to 1989. It finds support for the hypothesis that despite the evidence that restricted shares sell at a discount compared to superior voting shares, takeover returns are the same for both classes of shares. Secondly, it tests the hypothesis that the classification of common equity into two classes confers differential takeover value on controlling shareholders and find that superior voting shares of dual class firms experience higher returns during takeovers than do shares of single class firms.     

Changing barriers to the internationalization of franchising operations: Perceptions of domestic and international franchisors

This study examines factors that inhibit the internationalization of franchising operations. The factors are classified along the dimensions of importance and difficulty. The perceptions of domestic franchisors and international franchisors are compared. The results indicate that different factors inhibit internationalization of franchising efforts depending upon the stage of the franchising process. Comparisons of the results with previous studies indicate that significant changes have occurred in the perceived importance, changes which are understandable in light of changes in franchising practices as well as changes in the international environment. © 1995 John Wiley & Sons, Inc.     

Labour process analysis and socio-technical design: living apart together?

Here the authors explore how the labour process approach and the socio-technical approach can be used in the process of design and redesign of production organizations. The implications of both approaches are looked at in several cases of work reorganization in Rotterdam harbour.     

Inverse-probability-weighted logrank test for stratified survival data with missing measurements

The stratified logrank test can be used to compare survival distributions of several groups of patients, while adjusting for the effect of some discrete variable that may be predictive of the survival outcome. In practice, it can happen that this discrete variable is missing for some patients. An inverse-probability-weighted version of the stratified logrank statistic is introduced to tackle this issue. Its asymptotic distribution is derived under the null hypothesis of equality of the survival distributions. A simulation study is conducted to assess behavior of the proposed test statistic in finite samples. An analysis of a medical dataset illustrates the methodology.     

Designing with LEGO: exploring low fidelity visualization as a trigger for student behavior change toward idea fluency

International Journal of Technology and Design Education - Novice design students struggle to engage with early stage design visualization tools such as sketching and prototyping. Instead students...     

Air cargo transport in APEC: Regulation and effects on merchandise trade

This study aims at assessing the link between a more liberal air cargo regime and increased bilateral merchandise trade in the Asia Pacific region, under the auspices of APEC. Results from a gravity model using the Air Liberalisation Index (ALI) developed by the WTO Secretariat provide strong support for two hypotheses. First, more liberal air services policies are positively, significantly and robustly associated with higher bilateral trade in merchandise. The results also show that air transport policy matters more for some sectors than for others. A particularly strong relationship is found between bilateral liberalisation and trade in manufactured goods, time sensitive products, and parts and components. Prior to taking account of general equilibrium effects, the estimates imply that a one point increase in the ALI is associated with an increase of 4% in bilateral parts and components trade, which is the sector found to be most sensitive to the degree of aviation liberalisation. These findings have important policy implications. In particular, economies actively seeking greater integration in international production networks could greatly benefit from a more liberal aviation policy regime.