Articles

Can the Use of Clickers or Continous Assessment Motivate Critical Thinking?: a Case Study Based on Corporate Finance Students

Lucia Morales — Thu, 10 May 2012 09:00:44 PDT

This study explores the use of clickers as a tool to support, encourage and motivate critical thinking in higher education students. A case study was carried out with a cohort of undergraduate students undertaking the BSc. in Accounting and Finance during the academic year 2009/10, were corporate finance was a major component. Since the students in this sample had previously demonstrated passivity during their corporate finance classes, it was proposed that clickers would help motivate them to participate during face to face sessions. Previous research on the use of clickers shows evidence that this tool has a positive effect on student participation and interaction in the classroom. The results of this study suggest that clickers can positively affect classroom dynamics; they help activate the learning experience and provide a more relaxed atmosphere, where students can interact with their teacher. However, little evidence was found to indicate that clickers are a good device to enhance critical thinking skills. In this context, strategies based on a problem-centered approach to learning appear to provide a better outcome.

Do Different Iindustries Report Corporate Social Responsibility Differently?: An Investigation Through the Lens of Stakeholder Theory

Lorraine Sweeney et al. — Wed, 26 Jan 2011 12:59:07 PST

The social responsibility of business has become a major issue in recent years and the reporting of such activity is becoming more prevalent. Companies are attuning to the benefits of being seen as socially responsibly and many industries are jumping on the bandwagon of reporting CSR and using different media to communicate their activities in this arena to their stakeholders. This paper considers the content of one type of such communications, the annual report, and looks at how organisations are taking a focused stakeholder view of CSR rather than a wider view as would be expected from the ambiguity of definitions of the concept. Differences in reporting practices were found by an analysis of the annual and CSR reports of 28 FTSE4Good firms focusing on a variety of industries. Findings show that there is a significant difference between how organisations in different industries report on CSR consistent with a stakeholder view of CSR, and that this reporting follows for the most part the expectations of the CSR communications literature. It is suggested that firms report on CSR in line with what their key stakeholders expect, thus giving evidence for CSR reporting as another tool in the marketing communicators toolbox.

Developing Subsidiary Contribution to the MNC-Subsidiary Entrepreneurship and Strategy Creativity

Pamela Sharkey Scott et al. — Fri, 21 Jan 2011 06:44:05 PST

Despite its theoretical and managerial significance, subsidiary entrepreneurship and its effects 15 on subsidiary contribution remain underexplored in the literature.We propose that subsidiary 16 entrepreneurship encourages more creative strategic responses to escalating environmental 17 change. We explore the direct and mediating effects of subsidiary entrepreneurship on 18 subsidiary contribution to the MNC, particularly subsidiary strategy creativity. We use 19 structural equation modelling to test our propositions on data generated from surveying the 20 population of Irish subsidiaries of foreign MNCs, and find strong support for our theoretical 21 predictions. The managerial implications of subsidiary entrepreneurship in generating creative 22 strategy, prompting strategic initiatives and improving performance are discussed.

Including the Customer in Efficiency Analysis:Evidence of a Hybrid Relational-Transactional Approach

Joseph Coughlan et al. — Fri, 21 Jan 2011 06:44:04 PST

Purpose This paper illustrates the effect of including the customer as a resource in efficiency measurement. Variations in counting the customer illustrate the different impacts on efficiency between a transactional and a relational approach to bank branch marketing. Design/methodology/approach The paper uses Data Envelopment Analysis (DEA) to analyse the efficiency of the branch network under consideration. This technique, while well established in the bank branch efficiency literature, is used here to gain insight into how relationship and transactional paradigms are affecting performance. Findings Although the average profile of the efficiency scores was similar, the scores of the individual branches differed greatly depending on how customers were counted. Some branches then can be typified as relationship oriented while others as transactions oriented bearing in mind that all branches have both remits. Practical implications Future research in efficiency measurement should include customers as a resource of the bank given the importance of them for the activity of co-production. Careful consideration is required however of the method of accounting for these customers bearing in mind that different conceptualisations may significantly affect the efficiency score of the individual branches. Originality/value This paper sheds light on what is happening at branch level in a large network in the UK in terms of how transactions and relationship marketing approaches are affecting efficiency scores and the objectives of the branch. It also answers a call (Fruchter and Sigue, 2005) for research into organisations that simultaneously use relationship and transactions marketing.

Airline Overbooking in the Multi-Class Case

Joseph Coughlan — Fri, 21 Jan 2011 06:44:03 PST

This paper presents an airline overbooking model at a class level for one servcie compartment-cabin. Class level demand data i sused to determine the number of bookings that can be taken for each class. The model is optimised through the use of mulit-dimentsional search routines. The control level model developed is tested with data supplied by Ireland's national airline, Aer Lingus. The model shows a significant improvement over previous methods employed by Aer Lingus and was subsequently adopted by the airline.

Making Sense of the Data on Ireland's Inward FDI

Clare O'Mahony et al. — Fri, 21 Jan 2011 06:44:01 PST

Ireland, in employment terms, is the most FDI-intensive economy in the EU. International comparisons of trends and levels of FDI intensity are usually based on balance-of-payments data however, and the international data series on Ireland’s inward FDI tell hugely conflicting stories. Such series are published by the IMF, UNCTAD, OECD and Eurostat (with data generally provided either by the CSO or the IDA), while data on US FDI in Ireland are published by the US Bureau of Economic Analysis. The present paper documents these conflicting stories and searches for any underlying consistency through analysis of the items that the various databases include and exclude. FDI stock, flow and sectoral allocation data are explored and trends contrasted with what is known from MNC employment data.

Hedging: Scaling and the Investor Horizon

Jim Hanly et al. — Mon, 17 Jan 2011 06:42:16 PST

This paper examines the volatility and covariance dynamics of cash and futures contracts that underlie the Optimal Hedge Ratio (OHR) across different hedging time horizons. We examine whether hedge ratios calculated over a short term hedging horizon can be scaled and successfully applied to longer term horizons. We also test the equivalence of scaled hedge ratios with those calculated directly from lower frequency data and compare them in terms of hedging effectiveness. Our findings show that the volatility and covariance dynamics may differ considerably depending on the hedging horizon and this gives rise to significant differences between short term and longer term hedges. Despite this, scaling provides good hedging outcomes in terms of risk reduction which are comparable to those based on direct estimation.

Re-evaluating Hedging Performance

Jim Hanly et al. — Mon, 17 Jan 2011 06:40:02 PST

Mixed results have been documented for the performance of hedging strategies using futures. This paper reinvestigates this issue using an extensive set of performance evaluation metrics across seven international markets. We compare the hedging performance of short and long hedgers using traditional variance based approaches together with modern risk management techniques including Value at Risk, Conditional Value at Risk and approaches based on Downside Risk. Our findings indicate that using these metrics to evaluate hedging performance, yields differences in terms of best hedging strategy as compared with the traditional variance measure. We also find significant differences in performance between short and long hedgers. These results are observed both in-sample and out-of-sample.

Volatility Spillovers Between Equity and Currency Markets: Evidence from Major Latin American Countries

Lucia Morales — Wed, 04 Feb 2009 09:51:10 PST

This paper investigates the nature of volatility spillovers between stock returns and a number of exchange rates in six Latin American countries and one European economy in the 1998-2006 period. We divide our sample into sub periods, prior to and after the introduction of the Euro and we apply the EGARCH methodology to model volatility. Our results show that the volatility of stock returns affects the volatility of exchange rates; however, we do not find evidence of volatility transmission in the opposite direction.