To File Or Not To File? Systemic Incentives, Corporate Control, and the Bankruptcy Decision

This research investigates the distinctions between bankrupt firms and equally leveraged firms that avoid bankruptcy. Building upon the systemic incentives of bankruptcy law, and specifically those applicable to Chapter 11 reorganizations, the study argues that the firm’s governance and capital structure characteristics moderate the relationship between the firm’s financial condition and the filing decision. The results of this study indicate that, contrary to agency theoretical predictions, firms with high levels of inside equity ownership and secured indebtedness file in poorer financial condition than peer firms with low levels of these variables. By contrast, firms with high levels of outside equity ownership and short-term indebtedness file when in relatively better financial condition.     

The Political Attitudes of Australian Voters and Candidates

Modern theories of political representation assume that there will be little congruence between the views of political elites and the voters they govern. This paper uses survey data collected among candidates and voters at the 1987 Australian federal election to examine the extent of elite-mass differences on a range of 33 issues. The results show that Labor candidates and Labor voters are more likely to disagree on political issues, while Liberal-National candidates and voters are more likely to agree. Candidates of all parties are more liberal on issues such as Asian immigration, law enforcement and the protection of the environment, compared to their voters, while Senate candidates are more liberal than House of Representatives candidates. Finally, as other studies have found, candidates with constituency responsibilities, in this case those standing for the House of Representatives and incumbents, are more likely to be closer to the views of their party's voters than Senate and non-incumbent candidates.     

Managing the introduction of new technology

Most of the existing literature on the implications of new technology focuses on either its ‘impact’ or the social choices that lie behind strategies for its introduction into work organisations. The problems of managing the implementation of new technology have yet to be extensively examined despite this being one of the most critical aspects in the process of technological change. The findings from two case studies are presented which show how managers in the organisations concerned developed contrasting approaches to the problem of implementation in the context of opportunities and constraints presented by product markets and technological advance. Similarities between the two approaches are identified, in particular the role played by top management support in facilitating the acceptance of the new technology. The argument that management is able to develop a single unitary strategy towards the introduction of new technology is rejected in favour of a view of managerial actions as a series of flexible and changing sub-strategies associated with different stages in the process of change.     

When bubbles burst: Mimetic insights into minimising confidentiality breaches

This paper presents a theoretical model to help managers visualise and manage confidential situations more effectively. The model metaphorically likens a confidential setting to the properties of a soap bubble, e.g. elastic expansion or contraction, minimal surface area to contain a given volume, fragility, surface tension, pressure, stress, strain and the potential for bursting thereby releasing the contents to the external environment. We explore the conceptual developments in two phases. Firstly, looking at how a bubble and confidential scenario form and grow. Secondly, we consider how a bubble may burst and map these forces to ways in which confidentiality may be breached. Many attributes are mapped, the key ones being: the embedded value within the system, the criticality of maintaining confidentiality, increasing pressure, the corresponding stress/strain dynamics and the levels of trust between stakeholders. Key research propositions are derived from the model which aims to minimise the risk of a confidentiality breach.     

Corporate communications managers in large firms: new challenges

The new organisational form of large corporations (horizontal organisation), is affecting the communications job. This corporate transformation leads to new challenges for the corporate communications manager and his team. On the one hand, he has to develop a fully integrated strategy which enables the different forms of communication to contribute to the success of the firm's mission (a common goal). On the other hand, he has to provide small business units, led by strong front-line managers, with professional services. The analysis of several companies will show that the position of the corporate communications department is subject to various pressures and that the development of the `communications function' is calling into question the corporate communications manager's `profession'.     

Effects of neuroticism,extraversion, circadian type and age on reported driver stress

Studies have examined effects of various personality variables, including extraversion and neuroticism, as well as age, on driver stress. However, the effect of the morningness-eveningness dimension (circadian type) on reported driver stress among commuters has not been investigated. This study aimed to assess the influence of circadian type as well as extraversion, neuroticism and age on driver stress. Participants were 101 Australian university administrative staff who completed the Eysenck Personality Questionnaire-Revised, the Morningness-Eveningness Questionnaire, and also morning and evening driving diaries as a state measure of driver stress each weekday for one week. Two standard multiple regressions assessed whether neuroticism, extraversion, circadian type and age predicted reported driver stress for morning and evening drives. Neuroticism, circadian type, and age predicted reported driver stress in the mornings but age mainly predicted driver stress in the evenings. A repeated measures ANOVA isolated differences between circadian types for weekday mornings and evenings. Reported driver stress differed for day of week and time of day according to circadian type. The three-way interaction suggested that driver stress is influenced by circadian type and that factors influence driver stress differentially between mornings and evenings. Circadian type appears to influence when driver stress affects individuals.