• R&D capabilities, intellectual property strength and choice of equity ownership in cross-border acquisitions: Evidence from BRICS acquirers in Europe

      Ahammad, M.F.; Konwar, Ziko; Papageorgiadis, Nikolaos; Wang, Chengang (2018-03)
      The aim of the study is to investigate two relatively underexplored factors, namely, the R&D (research and development) capabilities of target firms and the strength of intellectual property (IP) institutions in target economies, that influences the choice of equity ownership in cross border acquisitions (CBAs) undertaken by multinational enterprises (MNEs) from BRICS (Brazil, Russia, India, China and South Africa) economies. We develop our key hypothesis on foreign market entry through CBAs by incorporating insights from transaction costs economics, the resource-based view and institutional theory to investigate the determinants of full versus partial equity ownership. Using logistic regression estimation methods to a sample of 111 CBA deals of BRICS MNEs in 22 European countries, we find that BRICS MNEs are likely to pursue full rather than partial acquisition mode when target firms have high R&D capabilities. However, the greater the degree of strength of IP institutions in target economies and higher the target firms’ R&D capabilities, the more likely it is for BRICS MNEs to undertake partial, rather than, full acquisition mode. We provide interesting theoretical insights and managerial implications that might underlie some of the key findings on CBAs by emerging market MNEs.
    • Radical learning through semantic transformation: capitalizing on novelty

      Bosma, B.; Chia, R.; Fouweather, Ian (2016-01-14)
      That organizations exist in a fluid environment of unprecedented and discontinuous change seems beyond debate. We seem to find ourselves immersed in a world in which events have a tendency to unfold and overtake us in unforeseeable and novel ways that defy comprehension; a crisis of meaning takes place and conventional sensemaking is disrupted. Our need to imaginatively construct new meanings that allow us to understand what is going on and to work out how to respond becomes ever more pressing. We do live in interesting times. The emergence of the new, however, challenges current established ways of knowing and opens a creative space for radical learning to take place. Novelty stimulates the generative process by which organizations and individuals learn, adapt to and cope with the exigencies they face in order to survive and progress. Such radical learning occurs when creative linguistic interventions in dialogue opens up semantic spaces whereby new terms are coined and old ones broken up, combined and/or redeployed in novel ways, in an effort to give expression to the fresh circumstances experienced or new phenomena observed. We call this kind of imaginative linguistic intervention semantic transformation. In this paper we argue that it is this semantic transformation that promotes radical transformational learning. Such semantic transformation is predicated on the improvisatory character of dialogue as a form of communication. We explore how, through this dialogical process of semantic transformation, we discover the resources and means to respond to the vagueness and equivocality experienced, by exploiting language in novel ways in our attempts to make sense of and account for such experiences.
    • Reading leadership through Hegel’s master/slave dialectic: towards a theory of the powerlessness of the powerful

      Harding, Nancy H. (2014-11)
      This paper develops a theory of the subjectivity of the leader through the philosophical lens of Hegel’s master/slave dialectic and its recent interpretation by the philosopher Judith Butler. This is used to analyse the working life history of a man who rose from poverty to a leadership position in a large company and eventually to running his own successful business. Hegel’s dialectic is foundational to much Western thought, but in this paper, I rashly update it by inserting a leader in between the master, whose approval the leader needs if s/he is to sustain self-hood, and the follower, who becomes a tool that the leader uses when trying to gain that elusive approval. The analysis follows the structure of Butler’s reading of the Dialectic and develops understanding of the norms that govern how leaders should act and the persons they should be. Hard work has become for leaders an ethical endeavour, but they grieve the sacrifice of leisure. They enjoy a frisson of erotic pleasure at their power over others but feel guilt as a result. They must prove their leadership skills by ensuring their followers are perfect employees but at the same time must prove their followers are poor workers who need their continued leadership. This leads to the conclusion that the leader is someone who is both powerful and powerless. This analysis is intended not to demonize leaders, but to show the harm that follows the emphasis on leadership as a desirable and necessary organizational function.
    • Real collars as alternative incentives for subsidizing energy facilities

      Adkins, Roger; Paxson, D. (2019-06)
      We suggest that real collars may be acceptable incentives for encouraging development of low (or no) carbon energy generating facilities as an alternative for high feed‐in‐tariffs. We provide novel analytical solutions for real collars and partial collars, plus floor and ceiling partial derivatives. The ‘gains/losses’ of the energy generator as perceived parameter values change are compared to those of the government providing the collar, and floor or ceiling only, viewing the arrangement as a real option game between principal and agent. A volatility increase first increases, then decreases the ‘gains’ of the generator.
    • Real exchange rate and asymmetric shocks in the West African Monetary Zone (WAMZ)

      Adu, R.; Litsios, Ioannis; Baimbridge, Mark J. (2019-03)
      This paper examines real effective exchange rate (REER) responses to shocks in exchange rate determinants for the West African Monetary Zone (WAMZ) over the period 1980–2015. The analysis is based on a country-by-country VECM, and oil price, supply and demand shocks are identified using long run restrictions in a structural VAR model. We report significant differences in the response of REER to real oil price, productivity (supply) and demand preference shocks across these economies. In addition the relative contribution of these shocks to REER movements in the short and long run appears to be different across economies. Our findings suggest that the WAMZ countries are structurally different, and asymmetric shocks with inadequate adjustment mechanisms imply that a monetary union would be costly.
    • Realigning reverse e-auctions for organisational magility.

      Tassabehji, Rana; Wallace, James; Tsoularis, A. (2006)
      With the advent and maturity of the internet, reverse electronic auctions (e-auctions) are now an important mechanism for public and private sector organisations, in the procurement of goods and services. Here, a novel link is made between reverse electronic auctions (e-auctions) and its potential impact on organisational agility, a link not previously developed in the literature. In this paper, we justify this relationship from a theoretical perspective. We investigate how information and internet technology impacts procurement, by an analysis and evaluation of the literature. E-auctions are reviewed and organisational agility defined; the advantages of agile management are also identified and the role that e-auctions can play in achieving this, discussed. Strategies for re-aligning reverse e-auctions in support of organisational agility are proposed and the advantages of this process discussed. Recommendations for future practice that will maximise the chances of realising agile systems management are also presented. Finally, areas for further research are identified.
    • `Real¿ managers don¿t do NVQs: a review of the new management `standards¿

      Grugulis, C. Irena (1998)
      In 1997 the Management Charter Initiative (MCI) officially launched the new Management NVQs (National Vocational Qualifications), benchmarks which attempted to describe the work performed by British managers. This article is a review of those qualifications. It remembers some of the main problems associated with the original Management NVQs and, drawing on some of the best theoretical and empirical accounts of managerial work, argues that the new qualifications have failed to live up to the MCI¿s original promise, to assist the development and training of managers.
    • Recruiting and Being Recruited: New Lecturers at Bradford University Law School

      Guth, Jessica (2008)
      Every person who holds or has held an academic position at Higher Education level has a unique experience of interview and of `settling in'. This Law in Brief considers the experiences of two new lecturers who took up their posts in August 2007.
    • Recruiting the Acquiescent Worker: a comparative analysis of McDonald’s in Germany and the UK

      Royle, Tony (1999)
      This article focuses on the workforce characteristics of the German and UK operations of McDonald’s Corporation. The UK workforce is characterised by predominantly young workers with very limited work experience, the German workforce is much older and mostly foreign workers. The analysis suggests that despite these differences and differences in labour market regulation, there is a key similarity between the workforces. The corporation is able to draw on similarly “weak” and marginalised segments of the labour market and these segments are likely to be particularly acquiescent to managerial prerogative. National institutional arrangements can still constrain the employment relations policies of multinational enterprises (MNEs). However, this analysis supports the notion that there is a growing diversity within national systems increasingly explained by MNE policies and practices. This does not necessarily mean that national systems are becoming redundant, but that there is a dynamic relationship between such systems and the needs of MNEs.
    • Redundancy as a critical life event: moving on from the Welsh steel industry through career change

      Gardiner, J.; Stuart, M.; MacKenzie, R.; Forde, C.; Greenwood, I.; Perrett, Robert A. (2009)
      This article investigates the process of moving on from redundancy in the Welsh steel industry among individuals seeking new careers. It identifies a spectrum of career change experience, ranging from those who had actively planned their career change, prior to the redundancies, to those ‘at a career crossroads’, for whom there were tensions between future projects, present contingencies and past identities. It suggests that the process of moving on from redundancy can be better understood if we are able to identify, not just structural and cultural enablers and constraints but also the temporal dimensions of agency that facilitate or limit transformative action in the context of critical life events. Where individuals are located on the spectrum of career change experience will depend on the balance of enabling and constraining factors across the four aspects considered, namely temporal dimensions of agency, individuals’ biographical experience, structural and cultural contexts.
    • Regional trade institutions in West Africa: historical reflections

      Bah, Essa; Jackson, Karen; Potts, David J. (2018-11)
      This paper reflects on trade institutions across West Africa from the Empirehood to the present day. We found that regional trade institutions were more standardised across West Africa before the current countries gained their independence. We argue that reflection on past trade institutions could provide important guidance for policy makers currently involved in deepening the Economic Community of West African States (ECOWAS). Our review of the literature suggests that the Empirehood was an era with more standardised trade institutions across the region relative to the current ones. Societal norms and political consensus such as the ‘Mande charter’ and the coming of Islam created a discipline that enhanced confidence in the ability to trade, which was facilitated by common trade institutions such as convertible common currencies and letters of credit. During the colonial era, West African common currencies were also established to facilitate exchange. Historical changes in governance resulted in the loss of some facets of well-functioning trade institutions. This paper argues that historical context can provide policy makers with the confidence that current institutional barriers to trade can be addressed. ECOWAS members could reflect on historical good practices if they are to accelerate the integration process and to realise the full potential of regional trade.
    • Regulation of shale gas in the United Kingdom and its potential to inform the EU level harmonising measures in the future

      Elfving, Sanna (2017-02)
      This chapter evaluates the consistency of the United Kingdom (UK) regulatory framework on shale gas with Commission Recommendation 2014/70/EU on minimum principles for the exploration and production of unconventional oil and gas. In the absence of European-wide legislation, European Union (EU) Member States have the right to determine the conditions for exploiting their unconventional energy sources. However, due to the environmental and human health risks associated with hydraulic fracturing, the EU has expressed its interest in ensuring adequate protection of the environment and to creating clear and transparent common standards for the benefit of operators, investors and the public while promoting the interests of those Member States which are currently exploring unconventional energy. It can be argued that the UK regime has been designed to address the environmental risks arising from hydraulic fracturing operations and as such it sets a high environmental threshold for operations. In fact, the UK legislation appears to be more comprehensive than in many other jurisdictions commercially exploiting shale gas, and therefore it has a potential to inform the content of any future harmonising measures on the exploration and extraction of such resources at the EU level.
    • Relationally Reflexive Practice: A Generative Approach to Theory Development in Qualitative Research

      Hibbert, P.; Sillince, J.; Diefenbach, T.; Cunliffe, Ann L. (2014)
      In this article we explain how the development of new organization theory faces several mutually reinforcing problems, which collectively suppress generative debate and the creation of new and alternative theories. We argue that to overcome these problems, researchers should adopt relationally reflexive practices. This does not lead to an alternative method but instead informs how methods are applied. Specifically, we advocate a stance toward the application of qualitative methods that legitimizes insights from the situated life-with-others of the researcher. We argue that this stance can improve our abilities for generative theorizing in the field of management and organization studies.
    • Relationship marketing in the subsidised arts: The key to a strategic marketing f

      Whitelock, Jeryl M.; Conway, A. (2007)
      Purpose ¿ The purpose of this paper is to consider whether successful subsidised arts organisations are more likely to apply a relationship rather than transactional marketing approach to overcome the tendency of not-for-profit organisations generally, and subsidised arts organisations particularly, to use marketing for short-term, tactical purposes. Design/methodology/approach ¿ Research was undertaken to identify whether ¿successful¿ subsidised performing arts organisations were indeed more strategic in their focus, whether they had applied a relationship marketing approach and whether such an approach had been influential in the development of their ¿success¿. Preliminary research led to the production of a conceptual framework that identifies major partnerships and specific stakeholder types that need to be considered by a subsidised performing arts organisation if an effective relationship marketing approach is to be developed. This was used as the basis for subsequent research involving a multiple case study approach studying two ¿successful¿ theatres and one ¿unsuccessful¿ theatre in depth. The strengths of relationship between the various key stakeholder roles and artistic directors within the three theatres were analysed. Findings ¿ Although this research is limited to a case study analysis of three theatres, it does seem to provide evidence to suggest that building strong relationships with stakeholders other than end users can be advantageous to subsidised performing arts organisations. Practical implications ¿ It is likely that this approach could be successful for the subsidised arts generally and indeed for all those organisations in the not-for-profit sector where those who pay do not necessarily receive the service. Originality/value ¿ This article provides a discussion on successful subsidised arts organisations.
    • The Reluctant Bargainers: McDonald’s, Unions and Pay Determination in Germany and the UK

      Royle, Tony (1999)
      There is growing evidence that multinational enterprises (MNEs) increasingly develop organisation-based employment strategies, which promote the transmission of employee relations practices across national borders. This article provides an analysis of one MNE’s employee relations practice and what appears to be its preference for operating, where possible, independently of national industrial relations systems. The findings, which draw on a UK/German comparison, raise a number of questions about the adequacy of even highly juridifed national systems to protect workers rights in practice.
    • Replacement decisions with multiple stochastic values and depreciation

      Adkins, Roger; Paxson, D. (2017-02-16)
      We develop an analytical real-option solution to the after-tax optimal timing boundary for a replaceable asset whose operating cost and salvage value deteriorate stochastically. We construct a general replacement model, from which seven other particular models can be derived, along with deterministic versions. We show that the presence of salvage value and tax depreciation significantly lowers the operating cost threshold that justifies (and thus hastens) replacement. Although operating cost volatility increases defer replacement, increases in the salvage value volatility hasten replacement, albeit modestly, while increases in the correlation between costs and salvage value defer replacement. Reducing the tax rate or depreciation lifetime, or allowing an investment tax credit, yield mixed results. These results are also compared with those of less complete models, and deterministic versions, showing that failure to consider several stochastic variables and taxation in the replacement process may lead to sub-optimal decisions.
    • Reporting on the seminar - risk interpretation and action (RIA): decision making under conditions of uncertainty

      Doyle, E.E.H.; Khan, S.; Adler, C.; Alaniz, R.C.; Athayde, S.; Lin, K-H.E.; Saunders, W.; Schenk, T.; Sosa-Rodriguez, F.; Sword-Daniels, V. (2014)
      The paper reports on the World Social Science (WSS) Fellows seminar on Risk Interpretation and Action (RIA), undertaken in New Zealand in December, 2013. This seminar was coordinated by the WSS Fellows program of the International Social Science Council (ISSC), the RIA working group of the Integrated Research on Disaster Risk (IRDR) program, the IRDR International Center of Excellence Taipei, the International START Secretariat and the Royal Society of New Zealand. Twenty-five early career researchers from around the world were selected to review the RIA framework under the theme of ‘decision-making under conditions of uncertainty’, and develop novel theoretical approaches to respond to and improve this framework. Six working groups emerged during the seminar: 1. the assessment of water-related risks in megacities; 2. rethinking risk communication; 3. the embodiment of uncertainty; 4. communication in resettlement and reconstruction phases; 5. the integration of indigenous knowledge in disaster risk reduction; and 6. multi-scale policy implementation for natural hazard risk reduction. This article documents the seminar and initial outcomes from the six groups organized; and concludes with the collective views of the participants on the RIA framework
    • Reproducing gender inequalities? A critique of `realist' assumptions related to organizational attraction and adjustment

      Nadin, Sara J.; Dick, P. (2006)
      Occupational discrimination and segregation along gendered lines continue to be seen as problematic throughout the UK and the USA. Women continue to be attracted to occupations that are considered to be women's work, such as clerical, secretarial and personal service work, and inequalities persist even when women enter traditional male domains such as management Work psychology's chief, though indirect, contribution to this field has been through personnel selection research, where methods aimed at helping organizations to make more fair and unbiased selection decisions have been carefully examined. Our aim in this paper is to argue that, on their own, such methods can make very little difference to the position of women (and other minorities) in work organizations. The processes that are fundamental to organizational attraction and adjustment cannot, we contend, be understood adequately through reductionist approaches that treat organizational and individual characteristics as context independent realities. Drawing on critical management research and using the specific example of police work, we argue that work roles and work identities can be more fruitfully understood as social constructions that, when deconstructed, illuminate more powerfully how processes that lead to the relative subordination of women (and other groups) are both reproduced and challenged.