A Simple Method for Estimating the Marketability Discount of Large Blocks of Shares

Author(s):

Enrique Schroth

 et al.
Topic:
Finance

An inherent difficulty in estimating the value of large blocks of shares is the need to account for their limited marketability. To date, there are no estimates of the marketability discount that explicitly take into account the illiquidity of the market for corporate control. In this article, results from previous work by the authors are used to produce a simple method to estimate the marketability discount under different firm, industry and macroeconomic scenarios. This method is applicable to public firms that have non-traded controlling blocks of shares, as well as fully private firms, and it helps investors determine what discounts to apply on top of the more traditional valuation methods (multiples based methods, DCF analysis).

Updated: 10/02/2017
Comments: 13
Views: 8,886

Why do Partner Relationship Management Systems fall short of expectations?

For industries where resellers constitute a significant part of the downstream supply chain, partner relationship management (PRM) systems have been proclaimed as having significant potential for supporting seller-reseller relationships and improving profits. By using these systems, companies strive to build more productive supplier-partner relationships while streamlining processes that run across suppliers, partners and customers. This has led to a rise in the implementation of these systems, yet performance improvements have not been consistently realised. In light of this, Dr. Chris Storey and Dr. Canan Kocabasoglu-Hillmer set out to investigate whether the performance of PRM systems were related to how suppliers provided oversight of their partners.

Updated: 10/02/2017
Comments:
Views: 6,829

Lighting, Well-being and Performance at Work

Author(s):

Jo Silvester

 et al.

A challenge for employers and researchers is to design work environments that meet the needs of the 21st century workforce, and which ensure maximum levels of well-being and performance.This report reviews existing research on the impact of lighting on performance and well-being in the workplace.

Updated: 10/02/2017
Comments:
Views: 4,900

How can Public Services be improved from a HR perspective? When Meaning matters most.

Author(s):

Chris Rowley

 et al.


Every organisation succeeds by delivering value to its key stakeholders. For public agencies, value occurs when citizens receive meaningful services, when policy makers wisely allocate scarce resources to societal demands, when communities have sustainability, and when society norms help individuals prosper. For any organisation to deliver value to stakeholders, it must align internal practices to external demands. We know, for example, that employee attitude inside a company is strongly correlated with customer, investor and community attitudes outside a company.

Human Resources (HR) can help public agencies deliver this value by creating meaning. When we find meaning in the organisations where we work, that personal meaning transfers to value to those we serve. In the public sector, meaning comes when public servants use their strengths to strengthen those they serve.

Updated: 10/02/2017
Comments: 11
Views: 9,292

How practical is 100% Supply Chain Traceability?

As a major multinational company pledges to achieve total traceability for the palm oil it uses, Professor Sodhi examines whether this goal is practical or not and suggests how an organisation may benefit from such a commitment.

Updated: 10/02/2017
Comments:
Views: 7,721

Innovating Commodities - how one manufacturer used creativity to transform its sales

The story of how one SME collaborated with contemporary artists and designers to transform its staid, industrial product into a fast-growing commercial item.

Updated: 10/02/2017
Comments:
Views: 5,964

Ireland's Banking System - looking forward

Author(s):

Thorsten Beck

Topic:
Finance
Industry:
Banking

Ireland was one of the countries most affected during both the Global Financial Crisis and the Eurozone crisis. This paper discussess Ireland's recovery, the importance of its financial sytems and the implications of regulatory reforms and potential banking union within the Eurozone.

Updated: 10/02/2017
Comments:
Views: 4,632

Do Corporate Cultures Change over Time? Evidence from South Korea.

Author(s):

Chris Rowley

 et al.

An investigation into corporate culture change at the South Korean multinational conglomerates, or 'chaebols' as they are often referred to. Our findings are based on a two-point survey in 1995 and then in 2006. There arose a lot of changes in values and attitudes of employees over these years. Traditional collectivism and the positive attitude which characterised the dynamism of the businesses had declined. Despite these changes however, individual companies maintained their identities according to their chaebol group. Also, cultural differences have not been converging but rather diverging. Based on these findings we can hypothesise that business society has become more diverse. While maintaining core elements of traditional collectivism, society has to cope with widening diversity at individual and organisational levels. In this diversifying society the management of organisational culture is going to play a more important role to attract the right people and maintain organisational identity. From this we can posit that a 'diversity paradigm' could be emerging in business.

Updated: 10/02/2017
Comments: 8
Views: 8,460

The Share Economy - how companies are misreading the market

Author(s):

Fleura Bardhi

 et al.

Research at Cass has found that 'Share Economy' businesses such as Zipcar may appeal more to the pragmatism of consumers, and less to their ethics.

Updated: 10/02/2017
Comments:
Views: 5,049