PhD, DBA, and MSc by research theses (SoM)

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Open Access
Accomplishment in adversity : a study of practitioner learning in social work
(Cranfield University, 1991-05) Jones, Martyn; Jordan, B.; Paley, J.
This study is about how people learn to be good social workers. It is based on thirty-seven tape-recorded interviews with practitioners who were selected by -their, peers and each other as doing the job well. The analysis adopts the view that interviews be seen as situated encounters in which interviewees attempt to provide morally adequate accounts of themselves and their actions. This approach is used as a means of making sense of both the 'interview talk' and of the cultural features to which appeal-is made in producing an adequate account. - The analysis is set in a discussion of new theories of adult learning; a crique of professional literature on theory and practice in social work; and, an appraisal of organisational studies of social work. Whilst the professional literature can be criticised for paying scant attention to the organisational settings of social work, the sociological studies can be criticised for failing to comprehend the accomplishments of social workers. This study aims to avoid both of these shortcomings. The literature from new theories of adult learning provides some promising developments in this regard, and the recent trends in the re-organisation of professional training are subjected to scrutiny. On examining the social workers' accounts, it was seen that there were certain central features in common. They were all structured so as to relate the social worker's identity to his or her role, and to relate learning to experience. The differences as well as the similarities in how this is done are clarified by the analysis. In constructing their versions of good social work, the practitioners differed according to their managing of the tension between the formal dimensions of their practice (law, policy, procedure) and their informal, discursive interactions within the everyday worlds of their clients. The accounts of learning given by the social workers refer predominantly to the place of experience, and to membership within collegiate teams. This is viewed as consistent with their ways of constructing good practice, but it is in marked constrast to the versions of learning dominant within the professional literature and educational methods. Ultimately, however, the social workers' own accounts of their learning falter, as they are unable to construct an adequate version for the rigours of formal rationality. The argument is made that this is due to the suppresion of a different reading of social work: social work as 'practice', a practical activity, and a cultural practice. Finally, the implications of this different reading of social work are considered, and reference made to recent major changes in legislation.
Open Access
Adaptive tension, self-organization and emergence : A complex system perspective of supply chain disruptions
(Cranfield University, 2017-03) Tewari, Anurag; Varga, Liz
The purpose of this thesis was to explore how microstate human interactions produce macro level self-organization and emergence in a supply disruption scenario, as well as discover factors and typical human behaviour that bring about disruptions. This study argues that the complex adaptive system’s view of complexity is most suited scholarly foundation for this research enquiry. Drawing on the dissipative structure based explanation of emergence and self-organization in a complex adaptive system, this thesis further argues that an energy gradient between the ongoing and designed system conditions, known as adaptive tension, causes supply chains to self-organize and emerge. This study adopts a critical realist ontology operationalized by a qualitative case research and grounded theory based analysis. The data was collected using repertory grid interviews of 22 supply chain executives from 21 firms. In all 167 cases of supply disruptions were investigated. Findings illustrate that agent behaviours like loss of trust, over ambitious pursuit, use of power and privilege, conspiring against best practices and heedless performance were contributing to disruption. Impacted by these behaviours, supply chains demonstrated impaired disruption management capabilities and increased disruption probability. It was also discovered that some of these system patterns and microstate agent behaviours pushed the supply chains to a zone of emergent complexity where these networks self-organized and emerged into new structures or embraced changes in prevailing processes or goals. A conceptual model was developed to explain the transition from micro agent behaviour to system level self-organization and emergence. The model described alternate pathways of a supply chain under adaptive tension. The research makes three primary research contributions. Firstly, based upon the theoretical model, this research presents a conceptualization of supply chain emergence and self-organization from dissipative structures and adaptive tension based view of complexity. Secondly, it formally introduces and validates the role of behavioural and cognitive element of human actions in a supply chain scenario. Lastly, it affirms the complex adaptive system based conceptualization of supply chain networks. These contributions succeed in providing organizations with an explanation for observed deviations in their operations performance using a behavioural aspect of human agents.
Open Access
Addressing the ghost in the machine or “Is engagement a sustainable intermediate variable between the website drivers of consumer experience and consumers’ attitudinal and behavioural outputs?”
(Cranfield University, 2007-09) Mollen, Anne; Wilson, Hugh
Background and Purpose: In response to the cost transparency of the internet which has facilitated consumer switching behaviour, marketing practitioners have used the umbrella term of engagement to describe the experiential response to mechanisms by which consumers can be enticed and co-opted into behaviour presumed to be conducive to purchase or future purchase. It is a concept that, until recently, has been largely circumvented by the marketing academic world. Therefore, the purpose of this systematic review is to generate a workable definition of consumer brand engagement online, predicated on a research model that builds on extant academic and practitioner evidence, which by virtue of its construction: 1. Shifts the locus of theoretical attention from a mechanistic/structuralist view of online consumer experience, increasingly recognized by the academic world as insufficient in its explanatory power, to more a more unitary approach that aligns behaviourist causality with ‘experiential intensity’ 2. Establishes a common discourse, thereby reconciling academic and practitioner perspectives 3. Provides the theoretical base for preliminary work on experiential metrics, and creates a platform for future research. Methodology: The review uses ‘realist synthesis’ to refine theory from a broad range of heterogeneous sources. The chapter on methodology provides a clear audit trail showing how decisions were made, evidence scrutinised and evaluated, and findings synthesised. Findings: The review provides support for the model and the definition of online consumer brand engagement, as well some steps towards operationalising the construct. The limitations of the methodology and learning points are discussed, as well as the contribution to future research and practice.
Open Access
Agile supply partnerships : the paradox of high-involvement and short-term supply relationships in the Macerata-Fermo footwear district
(Cranfield University, 2013-08) Cerruti, Corrado; Mena, Carlos
Despite a general consensus concerning the relevance of supply partnerships to agility, the literature reveals disagreements and contradictions regarding their characteristics and, in particular, their duration. This is, whether partnerships in an agile strategy should be long-term (strategic partnerships) or short-term (agile partnerships). The research joins this debate by investigating the types and characteristics of supply partnerships to achieve agility. The underlying premise of the work is that the type of supply partnership is contingent on the degree of turbulence an agile strategy is designed to face. The research was carried out in the fashion industry, given the relevance of agility in this industry. Specifically, the research focused the supply partnerships developed by the footwear companies in the Macerata-Fermo district, the largest footwear district in Italy. The focus on district companies allow the comparison of several companies sharing a very similar business context, allowing a better control of external variables and increasing the internal validity of the study. The field research consisted of a preliminary survey on agility drivers and agile capabilities in the Macerata-Fermo footwear district, followed by an in-depth investigation on supply partnerships using multiple embedded cases studies. Overall six medium-large footwear companies have been analysed in their supply relationships with respect to five key supply categories. For each supply category, the buyer view of the focal firms has been complemented with a view from the supplier side. In total the fieldwork is built upon 30 interviews with 22 informants from 18 companies for a total of more than 23 hours of interviews. In all cases, except two, the key informant was owner, CEO or general manager of the company, eventually supported by another company manager. In two cases, the interviews data have been strengthened by a longitudinal analysis of purchase orders over eight years. The fieldwork highlights that agility drivers and agile capabilities impact on the footwear companies’ decision of developing agile supply partnerships. Specifically footwear companies that are under the pressure of high-turbulence agility drivers (here represented by a high collection renewal rate) and that have developed strong agile capabilities (here represented by a local supply network and a purchase orders postponement) choose agile supply partnerships with respect to supply categories that are sensitive to the fashion trends and therefore difficult to be sourced in a stable way – season after season – from the same suppliers. The main contribution to theory is related to the characteristics of supply partnerships in an agile strategy and specifically to the apparent paradox of “high-involvement & short- term” relationships (i.e. agile supply partnerships). In spite of the presence of time compression diseconomies in building up partnership and of the loss of relational (non- redeployable) benefits in closing down partnerships, scenarios of high-turbulence can give companies an incentive to look for short-term partnerships. Such finding can support a wider claim that different levels of turbulence call for different agility strategies requiring different capabilities and practices. The main contribution to practice is related to the way agile partnerships are selected, started and ended. Given that many industries are facing an increase in market turbulence, it appears that many companies – even outside the fashion industry – might have to learn how to balance high-involvement supply relationships with respect to a shorter time horizon.
Open Access
Alignment of inter-firm performance measures in contractual alliances as a predictor of relationship success
(Cranfield University, 2013-05-03) Rey-Marston, Maria; Neely, Andrew
This research explains the role of aligned inter-firm performance measures as a predictor of success in of contractual alliances. Contractual alliances, a popular type of inter-firm relations, are also known as non-equity alliances and often display conflicting objectives in their contractual agreements. This research proposes that the assessment of contractual alliances performance must go beyond the contract’s ability to deliver to its internal performance targets or service level agreements (SLA). The success of contractual alliances lies in the alliance’s capability to contribute to the specific performance objectives of the firms involved as well as to fulfil its internal SLAs. This capability is called alignment and the results of this research show that is critical to the success of inter-firm relationships. The data for the research was gathered from outsourcing contracts between a logistics service provider and 149 users. Each contract includes its SLAs and two years of actual performance measures. The research design considers the firms’ financial measures as a proxy for their performance objectives during the same period of time. The alignment construct was operationalised by creating an inter-firm alignment (IFA) coefficient calculated with mathematical techniques to assess multi-dimensional fit amongst constructs. The three dimensions included in the IFA coefficient are i) alignment of contract’s SLAs and actual performance values, ii) alignment of contract’s SLAs and provider’s performance objectives, and iii) alignment of contract’s SLAs and user’s performance objectives. Success of contractual alliances was operationalised using known measures from the inter-firm management literature, such as longevity, stability, formality and relative profitability of the relationship. Information for all determinants was available in the 149 contracts. The quantitative correlations were specified and calculated using structural equation models (SEM). The results show that aligned inter-firm performance measures are a strong predictor of contractual alliance success. The empirical model supports the positive correlation of longevity and formality as measures of contractual alliance success, as stated in extant literature. The findings dispute the expected positive correlation between formality and stability with alliance success as described in the alliance literature. The results confirm the positive role of renegotiations as stated in the organization learning literature. Additional in-depth interviews were conducted with relationship managers, during the pilot study. The qualitative results support the quantitative findings. This research contributes to theory by: a) conceptualising and measuring the concept alignment to inter-firm performance measures; b) estimating the contribution of relation-specific measures to contractual alliance success, and c) introducing alignment of inter-firm performance measures as a predictor of contractual alliance success. The research and its results fill a substantive gap in managing contractual alliances. It provides the outsourcing industry with a tool that predicts the likelihood of relationship survival based on the degree of alignment of the inter-firm’s performance measures. The quantitative methods employed in the research extend the use of current techniques for assessing ‘fit’ in the strategy literature, into the field of performance measurement systems.
Open Access
All for one and one for all : encouraging prosocial behaviours through brand-convened consumer groups
(Cranfield University, 2013-05) Champniss, Guy; Wilson, Hugh; Macdonald, Emma K.
Academic and practitioner interest in sustainable consumer behaviour continues to grow. Yet the focus remains on marketing appeals based on awareness raising, perspective taking and concern. Whilst such an approach may be suitable for an established niche of committed consumers, it continues to be inappropriate for the majority. Situated within the debates on consumer behaviour, prosocial behaviour, brand communities and social identity theory, this study proposes an alternative route towards sustainable behaviours. This study focuses on such behaviours via the brand's formation of 'pop-up' consumer groups, and the subsequent influences these groups can exert on group members. Adapting aspects of social identity theory and self-categorisation theory, the study uses a novel field-based experiment to manipulate consumers into specific group structures (high/low group salience; normal/sustainable group goals) and measures the effects of these manipulations on prosocial behaviours both within and beyond the group. The effects on the consumer brand relationship are also observed. The results show first that such rapid group formation can lead to prosocial behaviours. Second, the results show that social identification with the group mediates the relationship between group salience and prosocial behaviours, but does not mediate the relationship between group goal and prosocial behaviours. Hence, it is suggested that two distinct processes are at work: social identity influence and social norm influence. Third, the study shows that group manipulations increase the consumer brand connection. Fourth, the study proposes novel distinctions between money and time as tradeable consumer resources, and suggests how the context of the request for these resources may alter the propensity to give. This study is the first of its kind to create a novel, minimal and temporary group within a natural consumer context, in order to encourage prosocial behaviour. The creation of these ‘pop-up’ groups provides an original contribution to both theory and practice.
Open Access
Analysing the impact of corporate governance on corporate sustainability at board level.
(Cranfield University, 2021-06) Bolourian, Soudabeh; Angus, Andrew; Alinaghian, Leila
Stakeholders are increasingly holding companies accountable for their environmental and social conduct. Organisations are engaging in, and incorporating, social and environmental issues in their business models, organisational structures and processes. The board of directors are responsible for the overall achievement and oversight of the organisation’s aims and objectives. However, there is little detail on the board’s role in monitoring and overseeing social and environmental issues in the corporate governance realm. This thesis addresses this void in several ways. First a systematic literature review provides a comprehensive synthesis of the extant literature investigating the board of director’s role as a core element of corporate governance in corporate social responsibility (CSR) performance. Critical assessment of a sample of 67 studies from 18 highly regarded scholarly journals published between 1992 and 2020 uncovers similarities and inconsistencies regarding the effects of various board attributes on CSR-performance. The review reveals these attributes do not work in isolation, but interact with each other and the context in which they are embedded in shaping CSR-performance. Second, empirical analysis of a cross-industry sample of 2891 firm-year observations from 789 FTSE350 and S&P500 listed companies during a 4-year period (2013-2016) investigates the role of the board attributes in driving CSR-performance. The influence of the board-level CSR-committee – a board attribute that despite the increased prevalence of such committees on the board is largely understudied – in driving CSR-performance is explored. This contributes to the growing literature on CSR-committees by investigating their presence, composition and interactive effects with various board attributes in driving CSR-performance. Additionally, contributing to the recent call for investigating interactions among board attributes and their impact on CSR-performance. Finally a configurational approach is used to further explore board attribute interactions and combined impacts on CSR- performance. The results of a Qualitative Comparative Analysis reveals nine board configurations leading to high CSR-performance. This contributes to the argument that “one-size” does not fit all, and different boards can achieve the same results via unique configurations of attributes.
Open Access
Analysis and implementation of volume flexibility in manufacturing plans
(Cranfield University, 1999-11) Oke, Adegoke; New, Colin
Manufacturing flexibility - the ability to change or respond quickly has been heralded as a major competitive weapon for manufacturing organisations operating in turbulent markets and markets characterised by fierce competition and rapid developments in technology. It is also important for the achievement of new management paradigms such as time-based competition, lean production, business process re-engineering and mass customisation. However, many issues on the concept of manufacturing flexibility such as, the clarification of why flexibility is needed, when it is needed, and how it can be implemented in manufacturing organisations have not been sufficiently addressed and resolved in the literature. This research project has been carried out to resolve some of these issues by focusing on one aspect of manufacturing flexibility - volume flexibility. The research design, which was developed to address the research issues, comprised the use of both quantitative and qualitative research methods. The quantitative research method is an exploratory mail survey of UK manufacturing plants in all the major industrial classifications. The survey was used to obtain broad patterns and evidence concerning the conditions that drive manufacturing plants to require volume flexibility and also to identify the mechanisms which manufacturing plants employ to achieve volume flexibility. The qualitative research method is an explanatory case-based research. Manufacturing plants in each sector that responded to the survey and provided rich and contrasting information about the issues being investigated were selected for the case study research. The case study research was used to confirm the survey results (triangulation) and more importantly to explain the trends and patterns observed in the survey analysis. The research concluded that high variability in demand levels is a major driver of volume flexibility and that it is generic in nature. Other drivers of volume flexibility were also identified. However, the applicability of these drivers to manufacturing plants was found to be independent of the sector to which the plants belong but on other specific characteristics of the plants. Mechanisms being employed to achieve volume flexibility in UK manufacturing plants were identified and referred to as enablers of volume flexibility. These enablers are not sector dependent but they do depend on specific market conditions, and their perceived costs and benefits. Substitute and complementary enablers were identified. Substitute enablers can be used to replace other enablers to achieve volume flexibility and complementary enablers aid other enablers in achieving volume flexibility. The research project also identified strategies, which can be employed by manufacturing plants to implement the enablers in achieving volume flexibility.
Open Access
An Anglo Swedish Comparison of Employee Participation in the Banking Sector
(Cranfield University, 1994-09) Holden, L. T.; Jackson, A. C.; Brewster, Chris
The purpose of this research was to compare employee participation practices in a Swedish and a British bank. There has been considerable interest in human resource management over the past decade, of which employee participation forms an important part, but there have been very few studies which attempt a qualitative comparison of international aspects of this subject. By using a wider study, the Price Waterhouse Cranfield Project on . International Human Resource Management, a European context is provided for the case study material, which examines in depth the forms and outcomes of employee participation in a Swedish and British setting. A triangulation methodology was employed using two questionnaires given to employees of each organisation, a series of in-depth interviews, a reading of company documentation and personal visits. This enabled the use of a multiple of approaches with the questionnaires providing a framework for the in-depth interviews. Four hypotheses were posed which offered tentative explanations for the similarities and differences in employee participation practices in Sweden and Britain. The findings were then analysed using Poole's Framework of Participation which proposes a number of contingent factors which influence the outcomes of employee participation. The thesis showed that Swedes allow greater participation in the workplace than the British, explanations of which are rooted in the cultural and ideological differences of the two societies. Secondly, it was shown that the drive for profit or financial stability will override participation mechanisms if it is felt necessary for survival. Thirdly, HRM techniques of employee participation are used mainly at a micro (workplace) level in the organisation as they can safely be distanced from any strategic decision making. Thus the strength of employee participation is very much anchored to the latent power of employees which is influenced by convergent forces such as economic, technological and political factors, and divergent forces such as cultural and ideological factors.
Open Access
The application of form postponement in manufacturing
(Cranfield University, 2003-09) Skipworth, Heather; Harrison, Alan
Postponement is widely recognised as an approach that can lead to superior supply chains, and its application is widely observed as a growing trend in manufacturing. Form postponement (FPp) involves the delay of final manufacturing until a customer order is received and is commonly regarded as an approach to mass customisation. However, while much is written in the literature on the benefits and strategic impact of FPp, little is still known about its application. Thus this research project aims to address how FPp is applied in terms of the operational implications within the manufacturing facility. Here the ‘postponed’ manufacturing processes are performed in the factory where the preceding processes are carried out. An in-depth case study research design was developed and involved case studies at three manufacturing facilities, which provided diverse contexts in which to study FPp applications. Each case study incorporated multiple units of analysis which were based around product groups subject to different inventory management policies – FPp, make to order (MTO) and make to stock (MTS). The same research design was used in each study and involved both qualitative and quantitative evidence. Qualitative evidence was gathered via structured interviews and included the operational changes required to apply FPp in a previously MTO and MTS environment. Eleven quantitative variables, providing a broad based measurement instrument, were compared across the three units of analysis to test the hypotheses. This combination of qualitative and quantitative evidence in the case studies helped to triangulate the research findings. Comparison between the three case studies provided further conclusions regarding operational implications that were context specific and those which were not. The research concludes that the manufacturing planning system presents a major obstacle to the application of FPp in a MTO and MTS environment. In spite of this, and even when the FPp application is flawed, the benefits of FPp still justify its application. The research also contributes two frameworks: one which determines when FPp is a viable alternative to MTO or MTS; and another that illustrates the major operational implications of applying FPp to a product exhibiting component swapping modularity.
Open Access
Applications of constructive developmental theory to the studies of leadership development : a systematic review
(Cranfield University, 2008) Florio, Linda; Kakabadse, Andrew P.
Purpose. The purpose of this dissertation is to present three main outcomes of the systematic review undertaken: - A synthesis of extant literature on leadership development from the angle of constructive developmental theory. - A review of the two approaches in constructive developmental theory most widely used in conjunction with studies of leadership development. - An integrative framework of the process and context of leadership development from the constructive developmental perspective. In exploring the directions of further inquiry, the framework is applied to the development of a transformational style of leadership in the settings of executive leadership development initiatives. Cont/d.
Open Access
Are analysts biased? an analysis of analysts’ stock recommendations for stocks that perform contrary to expectations
(Cranfield University, 2005-09) Mokoaleli-Mokoteli, Thabang; Taffler, Richard
The finance literature suggests that analysts’ stock recommendations have negligible impact on market prices. Some studies suggest this lack of market impact may be partly driven by the affiliations between investment banks and the firms their brokerage arms cover (conflicts of interest). However, most of these studies fail to take into account other factors including institutional and trading issues and psychological biases which may well be just as important in influencing analysts when they gather, process and interpret information about stocks. The aim of the current study is to establish the factors which are associated with analysts issuing stock recommendations that lack market impact. I find that nonconforming analysts’ stock recommendations are associated with overconfidence bias (as measured by optimism in the language they use) and representativeness bias (as measured by previous stock price performance, market capitalisation, book-to-market and change in target price). Thus, stocks that receive a buy rating and subsequently underperform the respective benchmark are associated with a high level of optimism in the tone of the language used by analysts in their investment reports that they prepare to justify their recommendations, have positive previous price momentum, have large market capitalisation, have low book-to-market ratio and have their target prices changed in the same direction as the stock recommendation. Not surprisingly, there is also a relationship between the investment bank issuing the recommendation and the firm. In addition, stocks that are awarded sell rating and subsequently outperform the benchmark have characteristics opposite to those of nonconforming buys. Finding that potential conflicts of interest significantly predict analysts’ nonconforming stock recommendations supports recent policy-makers’ and investors’ allegations that analysts’ recommendations are driven by the incentives they derive from investment banking deals. These allegations have led to implementation of rules governing analysts’ and brokerage houses’ behaviours. However, finding that cognitive biases play a major role in the type of recommendation issued suggests that these rules may work only in as far as regulating conflicts of interest, but will have a limited role in regulating psychological bias, as my results suggest that analyst bias is inherent in their work. Surveys of what fund managers expect of analysts indicate low rankings of analysts’ investment advice as manifested in their recommendations (e.g., All-America Research Team Survey 2002). My results further indicate that fund manager concern is likely to continue because not all behavioural factors in analyst stock recommendations can be controlled.
Open Access
Art-based Methods in Management Education
(Cranfield University, 2014-12) Springborg, Claus; Ladkin, Donna; Turnbull James, Kim
The purpose of this dissertation is to develop explanatory theory for the learning processes facilitated by art-‐based methods in management education (ABMs). Such theory is important because managerial educators increasingly use ABMs, and without a well-‐developed theory it may be difficult to realise these methods’ full potential. Current research on ABMs uses theories from other fields but generally sees ABMs as methods for making important information available for reflection, e.g. information about unconscious assumptions, aesthetic experience, or non-‐propositional or tacit knowledge. This shows that the field is grounded in a representationalist view of cognition. This view of cognition makes it difficult to explain certain themes in the research field, such as, the importance of staying with the senses without reflecting, aesthetic agency, and the process of making. I therefore asked: What insights can be gained from exploring ABMs, using theories grounded in the embodied view of cognition, in particular Conceptual Metaphor Theory (CMT) (Lakoff & Johnson, 1999) and simulation theories (Barsalou, 2008). For the empirical work, I used an experimental design with 60 managers from Danish companies. All participants selected problems from their work they perceived as important, yet unsolvable. They were randomly divided into three groups: Two groups using different ABMs to address problems and a comparison group where no ABM was used. The experiment indicated that 1) creating new metaphors for a problem based on different sensory metaphors enabled the participants to import behaviour from contexts unrelated to the problematic situation, and 2) focusing on sensory experience enabled participants to remove judgments about self or others. Furthermore, the experiment indicated that learning outcomes reflected participants’ experience of the concrete learning intervention. These findings contribute to CMT by suggesting that it is possible to formulate relationships between changes in metaphors and specific learning outcomes. They contribute to ABM by suggesting that experiences that participants have during ABMs are later used as tools for structuring other experiences – not merely as data for reflection.
Open Access
Arts-based methods for facilitating meta-level learning in management education: Making and expressing refined perceptual distinctions
(Cranfield University, 2011) Springborg, Claus; Ladkin, Donna
Arts-based methods are increasingly used to facilitate meta-level learning in management education. Such increased use suggests that these methods are relevant and offer a unique contribution meeting a need in today’s management education. Yet, the literature is not clear on what this unique contribution may be even though it abounds with suggestions of varying quality. To explore this matter, I conduct a systematic literature review focused on arts-based methods, management education, and meta-level learning. I find that the unique contribution of arts-based methods is to foreground the process of making and expressing more refined perceptual distinctions, not to get accurate data, but as integral to our thinking/learning. This finding is important, because it imply that certain (commonly applied) ways of using arts-based methods may limit their potential. Finally, I suggest that future research regarding arts-based methods should focus on exploring the impact the process of learning to make and express more refined perceptual distinctions may have on managerial practice to further understand the relevance of these methods to managers.
Open Access
ASEAN development and multinational corporations : a study of the perception of the senior managers of MNCs on ASEAN development
(Cranfield University, 1987-03) Chia, Hock Hwa; Harper, M.
The object of the study was.to investigate the feelings .and reactions of the senior managers of multinational corporations, (mcs), to the development of the Association of South East ~sian Nations, (ASEAN). ASEAN is a regional grouping of six developing nations formed in 1967 primarily to promote economic cooperation among member states, Though the Association is now in its 20th year of existence, the level of ASEAN economic corporation is currently superficial at best. In recent years however, ASEAN governments both individually and collectively are increasingly turning to the private sector for new leadership to speed up the development of ASEAN as a regional economic force. These new governmental initiatives are important to ASEAN. This is because not only is the increased pace of private sector investment critical to the health of the economies of the individual member states but more fundamentally, the successful development of ASEAN as a regional force in international trade would help project ASEAN as a more credible economic grouping. In the private sector, MNCs, because of their access to large investment funds and their international networks, are vital forces for ASEAN development. Besides the traditional strengths of mcs, this study hypothesised that organisations whose senior managements in the region were supportive of ASEAN could make greater contributions to ASEAN development.
Open Access
Assessing the impact of religion and family in shaping UAE national women’s choice of, and engagement with their careers
(Cranfield University, 2015-06) Hussain, Nazia; Vinnicombe, Susan; Anderson, Deirdre A.
National women in the Gulf Cooperative Council (GCC) countries are highly educated yet their work participation remains low when compared to the rest of the world. This thesis aims to assess the impact of religion and family in the shaping of national women’s careers in the GCC workforce, in particular the United Arab Emirates (UAE). This aim is fulfilled by conducting three interlinked research projects; a systematic literature review, a qualitative study and finally, a quantitative study. The first research project comprises a systematic review of the literature that identifies the barriers and enablers to the participation and advancement of female national managers in the GCC workforce. The synthesis of articles reveals findings at the societal, organizational, family and individual levels. At the societal level, barriers and enablers are identified as those influenced by socio-cultural and religious norms and practices. These norms and practices influence how organizations (public and private) engage with their employees, and families engage with their individual members. In the second research project, I choose to narrow the scope of my research from six GCC countries to one country, the UAE. I explore the influence of family on the experiences of ten senior female UAE national managers at key work decision stages; I employ semi-structured interviews and, based on their experiences, the findings reveal that the family has influence at both the role entry and role participation stages. No data were available for the role exit stage. Furthermore, the experiences are different for women from extended versus nuclear families. In the third research project I choose to focus on the factors that support and impact on the experiences of UAE national women during their career life cycle. The findings indicate that overall there are no differences between the experiences of women from nuclear families versus extended; however, there are differences between the model and the UAE sample, both at the overall level and individual age stages. My second research project; a qualitative study provides three contributions to knowledge. Firstly, I extend the understanding of work related decisions, taking into account family influences. However, in the UAE, based on my research, the outcome will primarily be in favour of family due to the influence of socio-cultural and religious norms and practices. I propose that the conceptual framework be extended by adding the component of religion to it when considering the context of the UAE. Secondly, I propose a modification to the framework enabling it to be used in the UAE context. Thirdly, no previous empirical research has been conducted using this framework, with the result that the data from my research contribute empirically. With respect to contribution to practice, this qualitative study identifies the need for enhanced recruitment strategies for women and more gender friendly policies and practices to ensure the effectiveness of Emiratization within both the public and private sectors. The evidence from my third research project; a quantitative study contributes theoretically as my research demonstrates that the O’Neil and Bilimoria (2005) three phase women’s career development model does not fit in the UAE context. The research also contributes from a practical perspective as it identifies the need to improve the development of networking, communication and leadership skills for women and the implementation of comprehensive flexible working practices for women.
Open Access
Assessment of fundamental strategic issues in structural change in United Kingdom and South African ports by systemic scenarios
(Cranfield University, 1998-04) Everton, A. C.; Wright, D.
The future complexity of strategic issues in international structural change was demonstrated by UK and SA ports. This arose from the likely extent of structural constraints and the effects of stakeholder power. From a review of emerging Advanced Systems Theory a new Boundary -spanning perspective of strategy was developed, that led to the specification of conceptual circumstances of potential outcomes of change. Since existing systems methodologies could not accommodate future power relationships, a new methodology and data collection technique was developed. The circumstances were developed into multiple scenarios which were judged by international decision-makers. These judgements were subjected to quantitative and qualitative analysis from a Strategic Choice Perspective. The outcome was a Boundary -spanning 'Long-term Strategic Service Industry' model which proposed the outlines of the future strategy and organisational structure that ought to be adopted to meet 'public interest' constraints. A dual subject and methodological contribution was made.
Open Access
Attitudes, involvement and consumer behaviour : a longitudinal study in fast moving consumer goods markets
(Cranfield University, 1994-06) Walker, David; Knox, Simon
An empirical study is reported which attempts to validate two key theoretical consequences of consumer involvement: differences in brand buying behaviour and differences in the type of decision processing undertaken. A literature review is provided which traces the history of involvement and identifies a suitable contemporary framework. Work on brand loyalty and attitude modelling is also reviewed and suitable frameworks identified. A pilot stage is reported which shows how involvement measurement techniques can be adapted for use among frequently purchased products. Results from reliability testing and differences in the mean levels of involvement for six grocery product categories are reported. A main fieldwork phase is reported where a consumer panel was operated for four months (n=191). Data on levels of involvement, decision making and purchasing behaviour were collected from the panel using surveys and diary sheets for three product categories: newspapers, breakfast cereals and paper kitchen towels. The relationship between sources of involvement and buying behaviour was analysed using LISREL. A model of involvement is identified which suggests that brand involvement is generated by the risks associated with making a poor brand choice and the levels of pleasure associated with the product field. For newspapers, the modelling identifies a significant (but small) relationship between involvement and devotion of purchasing to a limited number of brands. This relationship was not significant in the other two product fields. Further analysis identifies four classifications of buying behaviour (habitual, loyal, switchers, and variety seekers) which helps to explain why the linear relationship is so weak. A second analysis phase is reported which examines the utility of the Extended Fishbein Model for each of the three product categories. This analysis supports the notion that decision processing is more extensive where the level of product involvement is higher. The theoretical and managerial implications of the findings are discussed. Strengths and limitations of the research design are reviewed.
Open Access
Bad news disclosures and market bias : do investors underreact?
(Cranfield University, 2005-08) Kausar, Asad; Taffler, Richard
The seminal market efficiency paradigm in finance is being increasingly challenged by evidence apparently inconsistent with its predictions. Such "anomalies" tend to show that the market does not fully incorporate information upon its release in an unbiased way. Recent literature in finance identifies two potential types of anomalous market reaction to news disclosuresl overreaction, and underreaction. The overreaction phenomenon does not find much empirical support but market underreaction, on the other hand, appears quite robust, particularly in the case of bad news which the market appears to take time to process in many situations. My PhD explores these issues. The first part of my thesis tests the hypothesis that if investors rationally incorporate new pessimistic (optimistic) information then after controlling for risk, bad (good) news firms will not under- (over-) react. I test this hypothesis in the going-concern modified audit report disclosure domain. Going-concern opinions offer an appropriate test for the underreaction model as such information releases are associated with acute psychological stress and where a clear distinction between bad and good news can easily be made by considering the parallel case of going-concern withdrawal events. The second part of my thesis extends my work to investigate the market underreaction phenomenon conditional on the underlying bankruptcy regime of the institutional environment. Specifically, I explore the market response to the information content of closely related going-concem modified audit report disclosures (bad news) conditional on the underlying bankruptcy codes in very similar institutional and market environments differing only in the nature of bankruptcy regimes. More specifically, I work with the debtor-friendly U. S. and the creditor- friendly U. K. legal regimes. I hypothesize that investors in a creditor-friendly bankruptcy regime (the U. K. ) will react more adversely to the publication of first-time going-concem modified audit report indicating increased risk of loss than do investors in a debtor- friendly bankruptcy regime (the U. S. ). This is because of a remarkable divergence across the bankruptcy codes of the two different countries with regards to the rights of claimholders in the event of a default on debt contracts. The idea is to test whether there is any difference in investor response to similar bad news signals highlighting financial distress across different institutional environments. In the first part of my thesis, I find that there is asymmetric market response to first- time going-concern modified audit report disclosures (bad news) and withdrawal of the going-concern modified audit report disclosure (good news). Using a large sample of 845 U. S. firms from 1994-2002,1 find that the market underreacts to going-concern modified audit report disclosures (bad news), resulting in a downward drift of around -16% over the one-year period subsequent to the publication of going-concern modified audit opinion, but treats its withdrawal (good news) consistent with theory with no subsequent abnormal returns. To ensure that my empirical results are robust I employ various methodologies and also conduct additional tests to control for alternative explanations to my market underreaction story such as post-earnings announcement drift, momentum etc. My main results on market underreaction to going-concern modified audit report disclosures remain unchanged. I also test if there is an opportunity to eam profits by trading on this underreaction anomaly but find that any profit opportunity is illusory and highly risky. I conduct additional analyses that explore the trading behaviour of different classes of investors in my sample firms. This analysis is important as it could highlight whether institutional investors and retail investors exhibit similar trading biases. Results reveal that institutional investors reduce their holdings in such stocks on a timely basis in contrast to retail investors who appear to increase their holdings in such distressed stocks. The evidence is even clearer when such analysis is conducted by splitting my going-concern sample by subsequent outcomes. I conclude that de. spite clear adverse signals about the firm's continuing financial viability being conveyed to investors by the publication of the going-concem modified audit report, this information is not being fully impounded by the market, in contrast to the good news conveyed by going-concern withdrawals. My findings add to the existing literature calling into question the ability of the market to rationally price stocks in the case of acute public-domain bad news disclosures, as opposed to good news releases. My results suggest that my evidence of stock mispricing and extended post-goi ng-c once rn drift might then be explained by a limits to arbitrage argument with naYve (retail) investors keeping stock prices artificially high by trading inappropriately in these stocks due to behavioural biases identified in the literature and skilled investors (professional arbitrageurs) having limited incentive to trade in these small firms because of high costs. In terms of the second main theme of my thesis, my empirical analysis comparing the market response to going-concern modified opinions in the U. S. and the U. K. shows that, as hypothesized, investors in a creditor-friendly regime (the U. K. ) react more adversely, -3 1 %, than investors in a debtor-friendly regime (the U. S. ), - 18%, in the eight year time-period (1995-2002). One particular reason is that the U. S. bankruptcy regime is biased more towards the rights of' debtors, whereas the U. K. regime is biased more towards the rights of creditors and once a firrn enters bankruptcy proceedings in the U. K., it is unlikely that stockholders' equity has any residual value. These results provide evidence of the important role of legal regimes on the informativeness of accounting inforination. My results suggest that as standard-setters pursue uniform accounting and auditing standards across the world, they need to take into account how such standards interact with local legal regimes and consequently their informativeness to investors and other financial statement users. As such, these results present crucial empirical evidence that adds to the ongoing debate about the relevance of global standards among standard- setters, regulators and academics. Overall, my thesis makes important theoretical and empirical contributions to the behavioural finance, market pricing, and accounting literature in the bad news disclosure domain.
Open Access
Balancing the multiplicity of different international joint venture (IJV) partners' agendas : IJV directors' contribution to board effectiveness
(Cranfield University, 2006-09) Petrovic, Jelena; Kakabadse, Andrew P.; Kakabadse, Nada K.
This research examines international joint Venture (IJV) directors' contribution to board effectiveness, utilising a role theoretical framework. The study was prompted by a view that academic debate was limited in its understanding of how directors of IJV boards contribute to board effectiveness whilst balancing the multiplicity of different partners agendas. I particular, the literature review reveals the tendency of the studies of the IJV board director role to describe behaviours that make up a role, at the expense of the actual processes entailed in full filling the role. I addition, the corporate governance (CG) studies have made large inferences from inputs such as board composition to outputs such as board effectiveness, with no direct evidence of the processes that presumably link the inputs to the outputs. Based on the findings from a qualitative exploratory case study of thirteen board directors from three Serbian-foreign joint Ventures based in Serbia, the research proposes _a model that captures the contribution to board effectiveness from a individual IJV board directors perspective. By revealing the actual processes that produce and are affected by IJV board director role outcomes, the study offers a explanation of IJV board director behaviour and opens what has been described as the black box of CG research. The research holds direct implications for role theory, and the IJV and CG literatures. It enhances understanding of IJV board director role, broadens the scope and relevance of role theory beyond the domestic company, extends the study of board director role in the CG literature to IJVs, and contributes to the studies of board dynamics and IJV boards which have been largely under-researched. The research also provides practitioners with a better understanding of the issues and nuances associated with governing of IJVs, as well as knowledge of IJV board director behaviour within the Serbian CG system.

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