Search results for: ownership succession

Authors: Theresia Dwi Hastuti, Kristiana Haryanti, Agustine Eva Maria Soekesi

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Today's family business continues to grow in big cities and in rural areas throughout Indonesia in line with the development of the business world and global competition. This study aims to analyze the effect of company value, leadership, and ownership succession on the financial performance of the family business. The research method was carried out quantitatively with multiple regression. The respondent amounted to 63 entrepreneurs. This study found that company value, leadership succession, relationships, and communication affect the financial performance of the family business.

Keywords: company value, family business, financial performance, leadership succession, ownership succession

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Authors: François Chiocchio, Mahshid Gharibpour

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Regardless of the extent to which succession management is implemented in the private sector, it is still overlooked in the public sector. Traditional succession management is evolving providing a better alignment between business strategies and HR strategies. Succession management brings sustainable effectiveness for succession programs through career path development, knowledge and skill transfer, job retention, as well as high-potential candidates’ empowerment for upcoming vacancies. By way of a systematic literature review, we bring into focus strategic succession management in public organizations and discuss best ways of implementation. 

Keywords: succession management, strategic succession management, public organization, succession management model

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Authors: Arpan Upadhyaya, Sunaina Kuknor

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The paper examines the succession management strategies and the preparation level of heirs in the context of family-owned educational institutions in Nepal. Sixteen in-depth, semi-structured interviews with the institution's leader were conducted. The study's findings show the lack of awareness about the importance of succession planning among the institution owners due to the availability of limited resources. The paper also provides some insights into how family ownership and management are done and the lack of formal processes in succession management strategies. It will aid researchers in considering the societal perspective of the successor, which is also a significant worry.

Keywords: effective plans, family business, interest, leadership, successor

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Authors: Susan Lanz, Gary T. Burke, Omid Omidvar

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The intention to transfer ownership control across family generations is acknowledged to be central to developing a theoretical understanding of how family businesses differ and are distinct as a business group. However, in practice, most business-owning families face challenges to transfer their business ownership from one family generation to the next. To date, researchers have paid little attention to how and when ownership is passed across family generations and what the dynamics of such transitions are. This is primarily due to the prevailing assumption that ownership transfer is an unimportant and legalistic issue that occurs within a wider family management succession process. Yet, the limited evidence available suggests that family ownership transfer occurs inside and outside of the management succession process and is a difficult process for business-owning families to navigate. As a result, many otherwise viable family businesses are closing, leading to unnecessary loss of jobs and knowledge. This qualitative paper examines how family members understand and navigate the ownership transfer process. This study uses an inductive qualitative research design, conducted through in-depth interviews within eight business-owning families. It draws on family development theory and shows how a wide range of family-related events and dynamics outside of family business involvement underlie and shape the ownership transfer process. The findings extend the theory on how these events trigger ownership transfer and how they shape the ownership meanings held within business-owning families. This study found that ownership transfer meanings extend beyond that of transferring the legal control and financial appropriation rights of shareholders. The study concludes there are three different stages in the process of ownership transfer -symbolic, re-balancing, and protectionist. Each stage creates distinct family social constructions of the rights of family members to hold business ownership, and each stage occurs within a specific family development phase.

Keywords: business-owning family, family development theory, ownership transfer, process

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Authors: Nik Abdul Rahim Nik Abdul Ghani, Mat Noor Mat Zain, Ahmad Dahlan Salleh

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Ownership of asset is an important aspect in ensuring the validity of sale contract. Nevertheless, in Islamic finance, the issue of beneficial ownership as practiced in the current system is seriously debated among Shariah scholars. It has been argued as violating the real concept of ownership (milkiyyah) in Shariah law. This article aims at studying the status of beneficial ownership from the Shariah perspective. This study begins with examining the meaning of ownership and its attributes from the Islamic point of view and followed by the discussion on the origin of beneficial ownership from the legal perspective. The approach that is applied to clarify the concept of beneficial ownership is content analysis. Subsequently, this study explains some current applications of beneficial ownership in Islamic finance to be analyzed further from the Shariah aspect. The research finding suggests that beneficial ownership should be recognized as a real ownership due to the fact that Shariah allows the transfer of ownership after the execution of offer (ijab) and acceptance (qabul).

Keywords: beneficial ownership, ownership, Islamic finance, parameter

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Authors: Ismial A. Raji, Blessing Egbezieme Oladejo, Babatunde Kasim Oladele

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The study investigated the influence of leadership succession and tenure on goal attainment in the University of Ibadan. Leadership styles, tenure politics, organization succession, leadership succession, goal attainment in terms of research, teaching and public services were considered. The study adopted a descriptive survey design. The population of the study was 250 consisting 90 academic staff, 100 Senior Non-Teaching Staff and 60 Junior Non-Teaching Staff. Questionnaire was the instrument used to collect data. The instrument reliability coefficient was 0.88. Data collected were analysed with descriptive statistics. The result revealed that a significant relationship exist between leadership succession, tenure and goal attainment (r= .648, 0.466 and 0.479p< .0.5) Also, There was no statistical significant interaction between the effects of leadership tenure and leadership succession on goal attainment, F (38, 131) = 1.356, p = .104. The main influence of the independent variables on goal attainment were significant at F (24, 131) = 1.682, p=.034 and F (26, 131) = 2.182, p=.002. The study concluded that leadership succession and tenure are key factors for goal attainment in the University of Ibadan. The study recommended that an effective leadership succession and tenure processes should be maintained and sustained by higher institutions of learning.

Keywords: leadership tenure, style, succession, institutional goal

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Authors: Tzu-Ching Weng, Hsin-Yi Chi

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This study examines the effect of family succession on the cost of bank loans and non-price contractual terms. We use a unique dataset from China and find that lending banks are likely to charge high-interest rates and offer tight contractual terms, such as loan maturity and collateral requirement, for family succession firms. These findings indicate that information and default risks may arise after subsequent family successions. We also find that family succession firms can reduce the cost of bank loans by hiring top-tier auditors to enhance financial reporting credibility. This finding suggests that professional and high-quality auditors can provide extremely valuable services to family succession firms.

Keywords: family succession, cost of bank loans, loan contract terms, top-tier auditor

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Authors: Ruswiati Suryasaputra, Linda Salim

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This concept paper, initially a proposal for the completion of the degree of Doctor of Philosophy, is seeking to gain more understanding of family business succession in order to extend the average lifespan of family business that has shrunken significantly for the past 20 years. While multitude studies have been done in family business succession, the average lifespan of a family business continues to decline sharply over the past two decades to only 24 years, or 1.5 generations, in 2010, from 50-60 years, equivalent to 3 generations, as recently as 1990. While the qualitative approach of this study will not churn a theoretical framework unique to the family business field, it will bring to the surface important issues during a family business succession process that have been hidden behind the mostly profit-making issues that have been the main highlight of the family business field.

Keywords: family business, succession, nepotism, family studies

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Authors: Mahdi Azizzadeh, Ali Nabizadeh

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This paper investigates whether ownership structure has significant effects on dividend policy and the percentage of cash dividend payout ratio in Iranian companies listed on the Tehran Stock Exchange. We use a sample of 300 firm-years for 2010-2014. Results indicate that there is no significant relationship between family ownership and/or institutional ownership and dividend policy. Furthermore, there is no significant relationship between dividend policies in family-owned firms with high or low institutional ownership. However, our empirical test shows that family firms with a low level of institutional investors distribute more cash dividends on average than family firms with a high level of institutional ownership.

Keywords: family ownership, institutional ownership, dividend policy, dividend payout ratio

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Authors: Adie, Julius Undiukeye

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This research investigated the practice of academic leadership succession planning in Nigerian higher education institutions, drawing on the lived experiences of the academic staff of the case study institutions. It is multi-case study research that adopts a qualitative research method. Ten participants (mainly academic staff) were used as the study sample. The study was guided by four research questions. Semi-structured interviews and archival information from official documents formed the sources of data. The data collected was analyzed using the Constant Comparative Technique (CCT) to generate empirical insights and facts on the subject of this paper. The following findings emerged from the data analysis: firstly, there was no formalized leadership succession plan in place in the institutions that were sampled for this study; secondly, despite the absence of a formal succession plan, the data indicates that academics believe that succession planning is very significant for institutional survival; thirdly, existing practices of succession planning in the sampled institutions, takes the forms of job seniority ranking, political process and executive fiat, ad-hoc arrangement, and external hiring; and finally, data revealed that there are some barriers to the practice of succession planning, such as traditional higher education institutions’ characteristics (e.g. external talent search, shared governance, diversity, and equality in leadership appointment) and the lack of interest in leadership positions. Based on the research findings, some far-reaching recommendations were made, including the urgent need for the ‘formalization’ of leadership succession planning by the higher education institutions concerned, through the design of an official policy framework.

Keywords: academic leadership, succession, planning, higher education

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Authors: Wissal Ben Arfi, Jean-Michel Sahut

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The purpose of this paper is to provide a deeper understanding of the succession process from a knowledge management perspective. By doing that, succession process in family businesses, as an environment for creating and sharing knowledge, was explored. Design/Methodology/Approach: To support our reasoning, we collected qualitative data through 16 in-depth interviews conducted with all decision makers involved in the family businesses succession process in France. These open-ended responses were subsequently exposed to thematic discourse analysis. Findings: Central to this exhibit is the nature and magnitude of knowledge creation and sharing among the actors within the family succession context and how can tacit knowledge sharing facilitate the succession process. We also identified factors that inhibit down the knowledge creation and sharing processes. The sharing and creation of knowledge among members of a family business appear to be a complex process that must be part of a strategy for change. This implies that it requests trust and takes a certain amount of time because it requires organizational change and a clear and coherent strategic vision that is accepted and assimilated by all the members. Professional and leadership skills are of particular importance in knowledge sharing and creation processes. In most cases, tacit knowledge is crucial when it is shared and accumulated collectively. Our findings reveal that managers should find ways of implementing knowledge sharing and creation processes while acknowledging the succession process within family firms. This study highlights the importance of generating knowledge strategies in order to enhance the performance and the success of intergenerational succession. The empirical outcomes contribute to enrich the field of succession management process and enhance the role of knowledge in shaping family performance and longevity. To a large extent, the lessons learned from the study of succession processes in family-owned businesses are that when there is a deliberate effort to introduce a knowledge-based approach, this action becomes a seminal event in the life of the organization. Originality/Value: The paper contributes to the deep understanding of interactions among actors by examining the knowledge creation and sharing processes since current researches in family succession focused on aspects such as personal development of potential, intra-family succession intention, decision-making processes in family businesses. Besides, as succession is one of the key factors that determine the longevity and the performance of family businesses, it also contributes to literature by examining how tacit knowledge is transferred, shared and created in family businesses and how this can facilitate the intergenerational succession process.

Keywords: family-owned businesses, succession process, knowledge, performance

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Authors: Shamshiri Mitra, Abedi Rahim

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This paper investigates corporate investment behavior and its relationship with ownership structure and financial leverage for the listed company of Tehran stock exchange during 2008-2012. The results show that the concentration of ownership has s significant positive effect on corporate investment. The results for the kind of major owners show that institutional ownership had a positive significant effect and state and individual ownership had negative significant effects on the corporate investment but the effect of corporate ownership was not significant. Furthermore the effect of financial leverage was negative and significant.

Keywords: corporate investment behavior, financial leverage, ownership structure corporate investment behavior

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Authors: Peter Heimerl, Alexander Plaikner, Mike Peters

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Background and Significance of the Study: Family-run businesses are a decisive economic factor in the Alpine tourism and leisure industry. Within the next years, it is expected that a large number of family-run small and medium-sized businesses will transfer ownership due to demographic developments. Four stages of succession processes can be identified by several empirical studies: (1) the preparation phase, (2) the succession planning phase, (3) the development of the succession concept, (4) and the implementation of the business transfer. Family business research underlines the importance of individual's and family’s values: Especially leadership values address mainly the first phase, which strongly determines the following stages. Aim of the Study: The study aims at answering the following research question: Which leadership values are dominating during succession processes in family-run businesses in Austrian Alpine tourism industry? Methodology: Twenty-two problem-centred individual interviews with 11 transferors and their 11 transferees were conducted. Data analysis was carried out using the software program MAXQDA following an inductive approach to data coding. Major Findings: Data analysis shows that nine values particularly influence succession processes, especially during the vulnerable preparation phase. Participation is the most-dominant value (162 references). It covers a style of cooperation, communication, and controlling. Discipline (142) is especially prevailing from the transferor's perspective. It addresses entrepreneurial honesty and customer orientation. Development (138) is seen as an important value, but it can be distinguished between transferors and transferees. These are mainly focused on strategic positioning and new technologies. Trust (105) is interpreted as a basic prerequisite to run the family firm smoothly. Interviewees underline the importance to be able to take a break from family-business management; however, this is only possible when openness and honesty constitute trust within the family firm. Loyalty (102): Almost all interviewees perceive that they can influence the loyalty of the employees through their own role models. A good work-life balance (90) is very important to most of the transferors, especially for their employees. Despite the communicated importance of a good work-life-balance, but however, mostly the commitment to the company is prioritised. Considerations of regionality (82) and regional responsibility are also frequently raised. Appreciation (75) is of great importance to both the handover and the takeover generation -as appreciation towards the employees in the company and especially in connection with the family. Familiarity (66) and the blurring of the boundaries between private and professional life are very common, especially in family businesses. Familial contact and open communication with employees which is mentioned in almost all handing over. Conclusions: In the preparation phase of succession, successors and incumbents have to consider and discuss their leadership and family values of family-business management. Quite often, assistance is needed to commonly and openly discuss these values in the early stages of succession processes. A large majority of handovers fail because of these values. Implications can be drawn to support family businesses, e.g., consulting initiatives at chambers of commerce and business consultancies must address this problem.

Keywords: leadership values, family business, succession processes, succession phases

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Authors: J. E. Cobbinah

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One of the most challenging issues confronting schools is good leadership succession planning. Experts argue that, although the idea of leadership succession planning is one of the strategies or practices that can help sustain improvement and promote continuity of good leadership, seem to have been neglected in many schools over the years. Appointment of head teachers in senior high schools is based on long service or one’s ability to demonstrate his/her competence in a leadership selection interview. There is no clear and well-structured leadership succession plan, before leadership position is filled, while school leadership succession planning seem to be an issue that nobody talks about. In faith-based schools the issue is even worse, because religious groups impose whoever they consider strong in the faith on schools as leaders, irrespective of the individual competence, ability to take up challenges associated with individuals’ preparedness to take up leadership position. Therefore, the present study examined the nature (including type) of leadership succession plans in faith-based senior high schools and its associated challenges. Convergent mixed method design was employed to effectively achieve the objectives of the study. The data collection strategies involved the use of interviews, questionnaires, and reviews of secondary data. The data was gathered from students, school leaders (head teachers, deputy heads, and head of departments), selected parents teachers associated members, school management committee members and members from school governors. The results show that governors of faith-based schools are making efforts to enhance education quality, by making school leadership accountable, the absence and the neglect of clear, and well-structured leadership succession plan has some negative outcomes. Unsustainable students’ academic performance, lack of support from existing staffs and senior leaders and lack of support in the implementation of school improvement plan. It would be concluded that, faith-based schools should focus on leadership competence and abilities in the selection process of potential school leaders to achieve a good succession plan rather than appointing leaders who are affiliates of one’s faith.

Keywords: school leadership, succession planning, faith-based schools, school governors

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Authors: Farida Buniatova

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Testamentary succession rules in the Russian Federation have been developing intensively since the collapse of the Soviet Union. The article analyses specific aspects of the closed will in Russian civil law. It discusses advantages and drawbacks of the closed will. In addition to that, the paper focuses on the will drafting and attestation procedures. The research provides ways to improve and enhance Russian legislation governing the closed will.

Keywords: closed will, testamentary succession, testator, will

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Authors: Zhanxing Li, Liqi Zhu

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Authorities often intervene in children’s property conflicts, which may affect young children’s ownership understanding. First possession is a typical rule of ownership judgment. We recruited Chinese preschoolers as subjects and investigated their ownership reasoning regarding first possession, by setting three conditions via a conflicting cues method, in which a third party (mother or peer friend)’s testimony was always opposite to the cue of first possession (authority/non-authority testimony condition), or only the cue of first possession was present (no testimony condition). In Study A, we examined forty-two 3- and 5-year olds’ attribution and justification of ownership. The results showed while 5-year olds gave more support for the first possessor as the owner across three conditions, 3-year olds’ choice for the first possessor had no difference from the non-first possessor in the authority testimony condition. Moreover, 3-year olds tended to justify by reference to what mother said in the authority testimony condition, 5-year olds consistently referred to the first possession in three conditions. In Study B, we added two ownership questions to quantify children’s ability of ownership reasoning with four age groups (n = 32 for the 3-year-olds, n = 33 for the 4-year-olds, n = 27 for the 5-year olds and n = 30 for the adults) to explore the developmental trajectory further. It revealed that while 5-year olds’ performances were similar to the adults’ and always judged the first possessor as owner in three conditions, 3- and 4-year olds’ performed at chance level in the authority testimony condition. The results imply that Chinese young preschooler’s ownership reasoning was susceptible to authority’s testimony. Family authority may play an important role in diluting children’s adherence to ownership principles, which will be helpful for children to learn to share with others.

Keywords: authority, ownership judgment, preschoolers, testimony

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Authors: Mohammad Q. M. Momani

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The objective of this study is to examine whether the value relevance of ownership structure changed as the Amman Stock Exchange market conditions changed. Using data from 2005 to 2014, the study finds that the performance of portfolios that contain firms with concentrated ownership structure declines significantly during the post-crisis period. These portfolios exhibit poor performance relative to portfolios that contain firms with dispersed ownership structure during the post-crisis period. The results argue that uninspired performance of the Amman Stock Exchange during the post-crisis period, increased the incentives for controlling shareholders to expropriate. Investors recognized these incentives and discounted firms that were more likely to expropriate.

Keywords: value relevance, ownership structure, portfolio performance, Jordan, ASE

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Authors: Muhammad Shehu Garba

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The financial statements of the firms between the periods of 2013 and 2022 were collected using the secondary method of data collection, and the study aims to investigate the effect of ownership structure on the financial performance of listed industrial goods companies in Nigeria. 10 firms were used as the study's sample size. The study used panel data variables of the study. The ownership structure is measured with managerial ownership, institutional ownership and foreign ownership, while financial performance is measured with return on asset and return on equity; the study made use of control variables leverage and firm size. The result shows a multivariate relationship that exists between variables of the study, which shows ROA has a positive correlation with ROE (0.4053), MO (0.2001), and FS (0.3048). It has a negative correlation with FO (-0.1933), IO (-0.0919), and LEV (-0.3367). ROE has a positive correlation with ROA (0.4053), MO (0.2001), and FS (0.2640). It has a negative correlation with FO (-0.1864), IO (-0.1847), and LEV (-0.0319). It is recommended that firms should focus on increasing their ROA. Firms should also consider increasing their MO, as this can help to align the interests of managers and shareholders. Firms should also be aware of the potential impact of FO and IO on their ROA.

Keywords: firm size, ownership structure, financial performance, leaverage

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Authors: Cedric Herring, Loren Henderson, Hayward Derrick Horton, Melvin Thomas

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This paper asks whether business startups benefit from having racially diverse founding ownership teams. Using nationally representative data from the Kauffman Firm Survey, the analysis examines the relationship between the racial diversity of the founding ownership teams of business startups and their net worth, revenue, debt, and profits. The analysis shows that, net of firm characteristics and human capital characteristics, startups with racially diverse founding teams have higher net worth, lower debt, and greater profits than their non-diverse counterparts. The racial diversity of ownership teams is not, however, related to startup firms’ revenues, net of other factors. The implications of these findings are explored.

Keywords: racial diversity, business startups, founding ownership teams, diversity and business performance

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Authors: Kristýna Weissová

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This study is focused on two selected model taxa of invertebrates - Hymenoptera: Aculeata and Lepidopterawithnocturnalactivity, recordedatthesitesof lignite dumps and their surroundings in the North Bohemian Lignite Basin, Czech Republic. There search was conducted on 10 landfills, 3 study areas were determined on each landfill - primary and secondary succession and recultivation. A total of 3,202 individuals belonging to 232 species and 17 families of sagebrushinsects were collected. died, 74%of the species occurred on the primary succes sionare as, that is 2x more species than on the reclaimed areas. Of the total number of species and on all areas, 60 rare species were recorded - 29 vulnerable, 21 endangered, 8 critically endangered, and 2 extinct The areas of primary succession were again confirmed to be the richest in terms of rare species, hosting 39 rare species of Hymenoptera: Aculeata. In addition, bothextinct species were represented only on plots of primary succession. The family Crabronidae had the largestre presentation of species on theareasofleft primary succession, the family Halictidae was the most represented on the reclaimed areas and areas of secondary succession. A total of 3,634 moths were collected, assigned to 262 species and 10 families. A similar number of species occurred on the primary succession and reclaimed areas, but the reclaimed area had a greater abundance. Secondary successionsiteshostedha lf as many species and alsocontainedlow abundance compared to other management types. The results show that there claimed areas host a numerically larger group and more species of moths than the successionalareas. Rare species did not occur at any site. A higher number of days in locations without water bodies, wetland vegetation, and locations with a highre presentation of woody species. It is advisable to combine individual types of landscape management in such a way as to create a colorfulmosaic that supports biodiversity. In particular, we recommend incorporating natural successionintoreclamation plans, which is a refuge for many rare species of invertebrates, which has not yetbeenroutinely and purposefully practiced.

Keywords: hymenoptera: aculeata, lepidoptera, reclamation, succession, post-mining ara

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Authors: Vikas Baliram Kalyankar

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Study of ecology is important as it plays role in development of environment engineering. With the advent of technologies the study of ecosystem structure and changes in it are remaining unnoticed. The ecological succession is the sequential replacement of plant species following changes in the environment. The present study depicts the primary ecological succession in an area leveled up to the height of five feet with no signs of plant life on it. The five quadrates of 1 meter square size were observed during the study period of six months. Rain water being the only source of water in the area increased its ecological importance. The primary successor was non- leguminous plant Balonites roxburgii during the peak drought periods in the region of the summer 2013-14. The increased nitrogen content of soil after the plant implied its role in atmospheric nitrogen fixation.

Keywords: succession, Balonites roxburgii, non-leguminous plant, ecology

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Authors: Josephine Wanja Nyatia

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The relationship between vegetation and soil erosion deserves attention due to its scientific importance and practical applications. A great deal of information is available about the mechanisms and benefits of vegetation in the control of soil erosion, but the effects of soil erosion on vegetation development and succession is poorly documented. Research shows that soil erosion is the most important driving force for the degradation of upland and mountain ecosystems. Soil erosion interferes with the process of plant community development and vegetation succession, commencing with seed formation and impacting throughout the whole growth phase and affecting seed availability, dispersal, germination and establishment, plant community structure and spatial distribution. There have been almost no studies on the effects of soil erosion on seed development and availability, of surface flows on seed movement and redistribution, and their influences on soil seed bank and on vegetation establishment and distribution. However, these effects may be the main cause of low vegetation cover in regions of high soil erosion activity, and these issues need to be investigated. Moreover, soil erosion is not only a negative influence on vegetation succession and restoration but also a driving force of plant adaptation and evolution. Consequently, we need to study the effects of soil erosion on ecological processes and on development and regulation of vegetation succession from the points of view of pedology and vegetation, plant and seed ecology, and to establish an integrated theory and technology for deriving practical solutions to soil erosion problems

Keywords: soil erosion, vegetation, development, seed availability

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Authors: Afshin Azari, Farzad Peiravian, Nazila Yousefi

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Introduction: Community pharmacies have been always played an important role in public health. Therefore, having a decent service provided by these pharmacies is of paramount importance for the healthcare system. The issue of pharmacy ownership and its possible impact on the quality of services and amount of violations has been argued for many years, and there are different opinions around this debate. Since, so far, no scientific research has been performed to investigate this issue in Iran, this study aimed to examine the differences between these two types of pharmacies ownership in terms of violations and service quality. Method: This study investigates the impact of two different kinds of pharmacy ownership (pharmacists and non-pharmacist’s ownership) on the pharmacies’ amount of violations and services quality. Pharmacies’ amount of violations was examined using “pharmacy inspection reports” between September 2018 and September 2019, in their distinguishable categories: minor, major and critical violations. Then, service quality was examined using a questionnaire from the perspective of pharmacy customers. Results: Considering violations, there was no evidence to prove a significant relationship between critical violations and major violations with the type of pharmacy ownership. However, in minor violations, the average of violations was higher in pharmacies owned by pharmacists in comparison to their non-pharmacist owned counterparts. Regarding service quality, the results showed that there is no significant relationship between the quality of service and the type of pharmacy ownership. Discussion and Conclusion: In this study, no significant relationship was found between the amount of violations and the type of pharmacy ownership. This could indicate that the pharmacy ownership would not influence the rate of violations. Considering that more inspections have been carried out in non-pharmacist owned pharmacies, it can be concluded that these pharmacies are more under control, and in fact, this monitoring has reduced violations in these pharmacies. The quality of services in the two types of pharmacies were not significantly different from each other, and this shows that non-pharmacist-owned pharmacies also try to maintain the desired level of service in competition with their competitors.

Keywords: pharmacy ownership, quality of service, violation, community pharmacy

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Authors: Mahsa Kallhor Mohammadi, Hamideh Reshadatjoo

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This study verified the relationship between in-service training and employees’ feeling of psychological ownership. This research applied a descriptive survey that investigated a correlation between variables. The target population was 140 employees of a Drilling Fluid and Waste Management Service Company, and the sample was 123 employees who were selected randomly and encouraged to complete an electronic questionnaire which was designed based on standard questionnaires for research variables covering 62 questions. The face validity of the questionnaire was supported by an experimental test, and its content validity was approved by the thesis supervisor and consulting advisor. For the descriptive statistics frequency tables and diagrams, measures of central tendency such as mode, median, and mean and measures of variability such as variance, standards deviation, and quartile deviation were used. In the inferential statistics section, the Pearson correlation coefficient was used to verify the relationship between the variables of the research. According to the results, all of the research hypotheses were supported. According to hypothesis 1, there was a positive and significant relationship between training policy-making and employees’ psychological ownership (r=0/408, α=0/05). According to hypothesis 2, there was a positive and significant relationship between training planning and employees’ psychological ownership (r=0/446, α=0/05). According to hypothesis 3, there was a positive and significant relationship between providing the training and employees’ psychological ownership (r=0/512, α=0/05). According to hypothesis 4, there was a positive and significant relationship between training performance management and employees’ psychological ownership (r=0/462, α=0/05). According to hypothesis 5, there was a positive and significant relationship between employees’ motivation and psychological ownership (r=0/694, α=0/05). Therefore, through systematic in-service training, which is in the same line with the strategic goals of an organization and is based on scientific needs analysis, design, implementation, and evaluation, it is possible to improve employees’ sense of psychological ownership toward an organization.

Keywords: in-service training, motivation, organizational behavior, psychological ownership

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Authors: Sevil Yildiz

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In this study, we will touch upon the legal arrangements issued in Turkey for prevention of condensation and for ensuring pluralism in the media. We will mention the legal arrangements concerning the regulatory and supervisory authority, namely the Radio and Television Supreme Council, for the visual and auditory media. In this context; the legal arrangements, which have been introduced by the Law No 6112 on the Establishment of Radio and Television Enterprises and Their Media Services in relation to the media ownership, will be reviewed through comparison with the Article 29 of the repealed Law No 3984.

Keywords: media ownership, legal arrangements, the case for Turkey, pluralism

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Authors: Pham Duc Hieu, Do Thi Huong Lan

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The aim of this paper is to investigate the factors affecting the extent of voluntary disclosure by examining the annual reports of 205 industrial and manufacturing companies listing on Ho Chi Minh Stock Exchange (HSX) and Hanoi Stock Exchange (HNX) for the year end of 2012. Those factors include company size, profitability, leverage, state ownership, managerial ownership, and foreign ownership, board independence, role duality and type of external auditors. Evidence from this study suggests two main findings. (1) Companies with high foreign ownership have a high level of voluntary disclosure. (2) The company size is an important factor related to the increased level of voluntary disclosure in annual reports made by Vietnamese listed companies. The larger the company, the higher the information is disclosed. However, no significant associations are found between profitability, leverage, state ownership, managerial ownership, board independence, role duality and type of external auditors as hypothesized in this study.

Keywords: voluntary disclosure, Vietnamese listed companies, voluntary, duality

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Authors: Zurong Liang

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Chinese social work has experienced a sharp rise in staff turnover. Work-family conflict is a key risk factor for employees’ turnover intention. While the relationship between work-family conflict and turnover intention has been widely documented, little is known about its mediating and moderating mechanisms, especially among social workers in China. This study explored the mediating role of job-based and collective psychological ownership and the moderating role of person-organization value congruence. The study drew on data from the China Social Work Longitudinal Study 2019, a nationally representative sample of 1,421 Chinese social workers (79.73% female; mean age = 28.9 years old). We performed a moderated mediation analysis combining a simple slope test and the Johnson-Neyman technique. Both job-based psychological ownership and collective psychological ownership were found to mediate the association between work-family conflict and turnover intention. Person-organization value congruence moderated the indirect relationship between work-family conflict and turnover intention via collective psychological ownership. This study enhances understanding of the impact of the psychological mechanisms of work-family conflict on Chinese social workers’ turnover intention. Specific strategies should be adopted to establish a work environment that supports psychological ownership, enhances social workers’ identification with and attachment to their organizations, and thus reduces their turnover intention.

Keywords: turnover, work-family conflict, ownership, social worker, China

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Authors: Kacper Tomasz Kröber-Mulawa

Abstract:

This paper will address the topic of data ownership from an economic perspective, and examples of economic limitations of data property rights will be provided, which have been identified using methods and approaches of economic analysis of law. To properly build a background for the economic focus, in the beginning a short perspective of data and data ownership in the EU’s legal system will be provided. It will include a short introduction to its political and social importance and highlight relevant viewpoints. This will stress the importance of a Single Market for data but also far-reaching regulations of data governance and privacy (including the distinction of personal and non-personal data, data held by public bodies and private businesses). The main discussion of this paper will build upon the briefly referred to legal basis as well as methods and approaches of economic analysis of law.

Keywords: antitrust, data, data ownership, digital economy, property rights

Procedia PDF Downloads 48

Authors: A. F. Chikerema

Abstract:

Political leadership in Africa vary from the “criminalization” of the state to political leadership as “dispensing patrimony”, the “recycling” of elites and the use of state power and resources to consolidate political and economic power (Van Wyk:2007: p1). Political parties just like any other organizations always need leadership renewal and revamping, besides ideological and policy renewal. Zimbabwean politics present a shunned leadership renewal as reflected by the two champion political parties namely ZANU PF and MDC-T. Despite hot political power contestation between MDC and ZANUPF, the parties` internal structures are hinged on the two Godfather or Father figure that is Mugabe and Tsvangirai. They are the “labels “behind the two political parties. The suppressing of dissent voice on succession and renewal of leadership in the two parties has brew resistance from within and this has resulted in factional fights within the two political parties. The disgruntlement in the political parties has led to the stemming of the ‘bhoramusango concept’ from the electorate and party cadres whereby they are throwing or donating away their votes to other political parties. The ‘bhoramusango’ concept haunted ZANUPF in 2008 leading to its defeat by the opposition MDC-T .The paper takes the form of an analytic approach on leadership crisis in Zimbabwe. The narrative is framed on key concepts of leadership: namely leadership renewal and leadership succession, as agents operating within inherited structures negotiated political settlements, and form structures of leadership. Rulers gave priority to the consolidation of state power by installing party loyalists in the armed forces, civil service and local government. As part of this process, rulers have ensured consolidated power and authority.

Keywords: leadership renewal, leadership succession, ‘Bhora Musango’, political culture, political legitimacy

Procedia PDF Downloads 386

Authors: Gulnara Moldasheva

Abstract:

The research explores the relationship between management responsibility and corporate governance of listed companies in Kazakhstan. This research employs firm level data of randomly selected listed non-financial firms and firm level data “operational” financial sector, consisted from banking sector, insurance companies and accumulated pension funds using multivariate regression analysis under fixed effect model approach. Ownership structure includes institutional ownership, managerial ownership and private investor’s ownership. Management responsibility of the firm is expressed by the decision of the firm on amount of leverage. Results of the cross sectional panel study for non-financial firms showed that only institutional shareholding is significantly negatively correlated with debt to equity ratio. Findings from “operational” financial sector show that leverage is significantly affected only by the CEO/Chair duality and the size of financial institutions, and insignificantly affected by ownership structure. Also, the findings show, that there is a significant negative relationship between profitability and the debt to equity ratio for non-financial firms, which is consistent with pecking order theory. Generally, the found results suggest that corporate governance and a management responsibility play important role in corporate performance of listed firms in Kazakhstan.

Keywords: ownership, corporate governance, debt to equity ratio, corporate performance

Procedia PDF Downloads 317