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Selected AbstractsOrganizational Culture: A ten Year, Two-phase Study of Change in the UK Food Retailing SectorJOURNAL OF MANAGEMENT STUDIES, Issue 5 2002Emmanuel Ogbonna This paper argues that much of the current motivation for the study of organizational culture is fuelled by research which finds an association between culture and performance as well as by studies which suggest that culture is comparatively easily changed. However, much of the research upon which these claims are based is largely firm-specific with little critical evaluation of industry macrocultures and the impact that such cultures may have on both the performance of individual firms and the management of organizational culture. Through assessing separate change programmes spaced ten years apart, this paper documents and analyses the similarities and differences in the rationale, form, substance and impacts of two separate culture change initiatives in the same macroculture spaced ten years apart. These analyses suggest a number of conclusions and implications for both theorists and practitioners. In particular, the study argues that researchers examining organizational culture should devote significantly greater attention towards studying the effects of sector or industry macrocultures. [source] Formation process and preservation of a natural electronic archivePROCEEDINGS OF THE AMERICAN SOCIETY FOR INFORMATION SCIENCE & TECHNOLOGY (ELECTRONIC), Issue 1 2008Maria Esteva This paper presents a case of formation process study and preservation of the digital archive of a private organization. The archive was created in the late 1980's and maintained until 2005. The study was prompted by the archive's creators concerns about the resources involved, and the need to preserve their electronic records and systems vis-à-vis the presence of the signed and sealed paper documents. The approach used to study the digital archive was to consider it akin to an archaeological site. A formation process study of the archive's components was conducted using interview methods; primary and secondary sources; and metadata extraction, file viewers, and file transformation software. The study revealed information about the technical and social contexts involved in the archives' formation, and how its creators used it and valued it over time. The results informed the design of a preservation strategy aimed at maintaining the archives' integrity and authenticity and continuing documentation of its evolution. The attributes characterizing the archive led to the development of the concept of natural electronic archive. [source] The Dog That Did Not Bark: Insider Trading and CrashesTHE JOURNAL OF FINANCE, Issue 5 2008JOSE M. MARIN ABSTRACT This paper documents that at the individual stock level, insiders' sales peak many months before a large drop in the stock price, while insiders' purchases peak only the month before a large jump. We provide a theoretical explanation for this phenomenon based on trading constraints and asymmetric information. A key feature of our theory is that rational uninformed investors may react more strongly to the absence of insider sales than to their presence (the "dog that did not bark" effect). We test our hypothesis against competing stories, such as insiders timing their trades to evade prosecution. [source] Hedge Funds and the Technology BubbleTHE JOURNAL OF FINANCE, Issue 5 2004MARKUS K. BRUNNERMEIER ABSTRACT This paper documents that hedge funds did not exert a correcting force on stock prices during the technology bubble. Instead, they were heavily invested in technology stocks. This does not seem to be the result of unawareness of the bubble: Hedge funds captured the upturn, but, by reducing their positions in stocks that were about to decline, avoided much of the downturn. Our findings question the efficient markets notion that rational speculators always stabilize prices. They are consistent with models in which rational investors may prefer to ride bubbles because of predictable investor sentiment and limits to arbitrage. [source] Currency Orders and Exchange Rate Dynamics: An Explanation for the Predictive Success of Technical AnalysisTHE JOURNAL OF FINANCE, Issue 5 2003Carol L. Osler Associate Professor This paper documents clustering in currency stop-loss and take-profit orders, and uses that clustering to provide an explanation for two familiar predictions from technical analysis: (1) trends tend to reverse course at predictable support and resistance levels, and (2) trends tend to be unusually rapid after rates cross such levels. The data are the first available on individual currency stop-loss and take-profit orders. Take-profit orders cluster particularly strongly at round numbers, which could explain the first prediction. Stop-loss orders cluster strongly just beyond round numbers, which could explain the second prediction. [source] The Development of Commodity Exchanges in the Former Soviet Union, Eastern Europe, and ChinaAUSTRALIAN ECONOMIC PAPERS, Issue 4 2001Anne E. Peck The virtual collapse of the centrally planned economies of the countries of the former Soviet Union (FSU) and the more gradual transition from central planning to a market-oriented economy in China were both accompanied by the opening of hundreds of exchanges trading many agricultural, resource, and other physical commodities. Although many viewed them as harbingers of full-fledged market-based economies, most of the new exchanges in fact have since closed either for lack of activity or by government intervention, a history that this paper documents. New exchanges faced numerous obstacles in sustaining interest, from developing standardised contract terms to establishing effective self-regulation and state regulatory oversight. In several countries, the transparency of transactions on exchanges attracted governments interested in collecting taxes and customs duties which only drove trade away from the exchanges or turned them into little more than state agencies. In China, regulators struggled with duplicative exchanges and products, price volatility, large speculative interest, and several manipulations and have recently reduced the number of exchanges to just three and severely limited the commodities traded. There have been some successes too, including (at least prospectively) the three remaining exchanges in China, the Budapest Commodity Exchange in Hungary, and the Poznan Commodity Exchange in Poland. For all, identifying the terms to create standardised contracts has been (and continues to be) a major challenge. [source] |