Template-Type: ReDIF-Article 1.0 Author-Name: Jeng-Hong Chen Title: THE TRADING COSTS OF EARLY EARNINGS RELEASE: THE CASE OF HEWLETT-PACKARD COMPANY Abstract: Hewlett-Packard Company scheduled to announce its 2014 second quarter earnings after the market closed on May 22, 2014. However, its second quarter earnings report was accidently released earlier than scheduled. The lower than-expected revenue news dropped Hewlett-Packard’s stock price by 5% within 6 minutes. The rare occurrence of an early earnings announcement during trading hours provides an opportunity to investigate the influence of early earnings release on trading costs of market participants. The results show that Hewlett-Packard’s stock trading costs, measured by bid-ask spreads increased and its information asymmetry decreased after the early earnings release. Classification-JEL: G14 Keywords: Early Earnings Release, Trading Costs, Bid-Ask Spreads, Information Asymmetry Journal: Review of Business and Finance Studies Pages: 1-10 Volume: 6 Issue: 3 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n3-2015/RBFS-V6N3-2015-1.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:3:p:1-10 Template-Type: ReDIF-Article 1.0 Author-Name: Larry Prober Author-Name: Ilhan Meric Author-Name: Gulser Meric Title: DOES COMPANY GREEN SCORE AFFECT STOCK PRICE? Abstract: Do investors reward green companies by paying a higher than the equilibrium price indicated by the capital-asset pricing models? Or do they penalize green companies by paying a less than the equilibrium price because going green and keeping green is costly and reduces company profits? In this study, we seek an answer to these questions by using the green scores published by Newsweek magazine for the S&P 500 companies in 2012. We use the parameters of the Fama-French three-factor capital asset pricing model as control variables in multivariate linear regressions to assess the impact of company green score on stock price. We use the event-study methodology to test our hypothesis with one-week, four-week, and ten-week event windows after the publication of the company green scores by Newsweek. Our findings indicate that a company’s green score is not priced by the market and that the variation between companies in terms of their green scores cannot explain the variation between their stock returns. Classification-JEL: D21, G12, G38, H20, M14 Keywords: Green Score, Environmental Impact, Stock Price, Multivariate Linear Regression Analysis, Capital Asset Pricing Model, Fama and French’s Three-Factor Asset-Pricing Model Journal: Review of Business and Finance Studies Pages: 11-19 Volume: 6 Issue: 3 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n3-2015/RBFS-V6N3-2015-2.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:3:p:11-19 Template-Type: ReDIF-Article 1.0 Author-Name: Peter Géczy Title: BIG DATA MANAGEMENT: RELATIONAL FRAMEWORK Abstract: Volumes of available digital data have been significantly expanding over the past decade. Alongside the volume, diversity and complexity of digital data have also been growing. Contemporary devices and systems are capable of generating data vastly exceeding capabilities of organizations and conventional information technologies to process it. Big, diverse and complex data presents novel challenges for organizations―but also opportunities. Big data enables tackling longstanding complex problems that would otherwise be out of reach. It also opens new scientific and commercial possibilities that could not exist without availability of data. Organizations utilizing large volumes of diverse data, however, face unique challenges. The challenges range from technological and processing issues to business and management matters. Organizations need to adopt appropriate management strategy in order to satisfactorily deal with the issues arising from utilization of big data. This necessitates understanding of relationships between the aspects of data and their managerial consequences. We examine the essential characteristics of big data and explore pertinent managerial implications. Classification-JEL: C8, C81, C82, C88, D7, D8, D81, M15 Keywords: Big Data, Data Aspects, Processing Capabilities, Strategy, Actionable Knowledge, Information Technology Management, Management of Information Systems Journal: Review of Business and Finance Studies Pages: 21-30 Volume: 6 Issue: 3 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n3-2015/RBFS-V6N3-2015-3.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:3:p:21-30 Template-Type: ReDIF-Article 1.0 Author-Name: Jose Enrique Luna Correa Author-Name: Mario Jesus Aguilar Camacho Author-Name: Rafael Espinosa Mosqueda Title: APPLICATION OF A MODEL OF HUMAN CAPITAL TO PROMOTE THE COMPETITIVENESS OF SMALL AND MEDIUM ENTERPRISES Abstract: Many small firms fail. Nevertheless, the contribution and impact that small and medium enterprises (SMEs) account for in the economy and employment in Mexico are substantial. These firms require innovation, opportunities, as well as systems management and internal spaces that allow them to generate greater growth. This paper proposes an innovative tool for directors and partners of this category of companies that are visionaries and are willing to learn. We adopt and adapt in their organizations a creative approach, through the active participation of human capital that will catapult their competitiveness. Classification-JEL: M, M0, M00, M12 Keywords: Competitiveness, Human Capital, Innovation, SME Journal: Review of Business and Finance Studies Pages: 31-44 Volume: 6 Issue: 3 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n3-2015/RBFS-V6N3-2015-4.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:3:p:31-44 Template-Type: ReDIF-Article 1.0 Author-Name: Vanessa Seebaluck Author-Name: Perunjodi Naidoo Author-Name: Prabha Ramseook-Munhurrun Title: PROSPECTS AND CHALLENGES OF BUSINESS TOURISM: A CASE OF MAURITIUS Abstract: The study investigates the prospects of business tourism in the small island developing state of Mauritius. Mauritius is predominantly known as a beach holiday resort for hedonist tourist and limited attention has been provided to business tourism. Past studies have revealed that business tourism provides significant economic contributions, however little academic attention has been provided to business tourism in small islands. The research highlights the characteristics of business tourism in Mauritius with a focus on the Meetings, Incentives, Conferences and Exhibitions market. The study discusses the characteristics of business tourism emphasizing on its prospects and challenges as a tourism development strategy in Mauritius. A qualitative approach was adopted where key informants in the business tourism sector were interviewed to examine topic under scrutiny. Classification-JEL: L83, O15, O24 Keywords: Business Tourism, Events, Meetings, Incentives, Conferences, Mauritius Journal: Review of Business and Finance Studies Pages: 45-55 Volume: 6 Issue: 3 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n3-2015/RBFS-V6N3-2015-5.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:3:p:45-55 Template-Type: ReDIF-Article 1.0 Author-Name: Mohammed Belkasseh Author-Name: Morad Lemtaoui Title: LET'S TALK PERFORMANCE SOME HINTS Abstract: This paper presents five key aspects of organizational performance. The relationship with the environment, the consistency with the objectives and the set out strategy, the importance of the human element, the effectiveness and efficiency concern, and the contribution of TQM as a guarantee of compliance. We highlight the predominant place for these objectives within the organization. This is sometimes done by highlighting expected performance levels and other times as a tool through which performance measurements rule on the level of assurance and compliance of organizational functioning. This implies a strong mastery of organizational processes and adaptability as a tool to leverage of growth and development. Classification-JEL: M00, M10 Keywords: Organizational Performance, Measurement, Compliance, Adaptability Journal: Review of Business and Finance Studies Pages: 57-70 Volume: 6 Issue: 3 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n3-2015/RBFS-V6N3-2015-6.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:3:p:57-70 Template-Type: ReDIF-Article 1.0 Author-Name: Enrique Corona Sandoval Author-Name: Miguel Angel Olivares Urbina Title: TECHNOLOGY AND BUSINESS PERFORMANCE: TRAVEL AGENCY CASE Abstract: This case presents a didactic tool for students that incorporates elements of analysis and decision-making in relation to the implementation, use and management of technology. This technology is applied to the performance improvement of a virtual travel agency. The student is presents information relating to the firm’s business history, key characters in decision-making, evolution and innovation factors that led to organic growth in the midst of a highly competitive environment. The case raises dilemmas for the student concerning the generation of competitive advantage strategies. Students may suggest alternative courses of action and may assume a posture of consultant to the firm. The case is recommended for business undergraduate students, requiring knowledge of management and marketing. The case can be developed in two one-hour classes and requires a presentation of results and discussion at the end of the class. Classification-JEL: M14, M15, M31 Keywords: Business Performance, Innovation, Strategy, Technology Journal: Review of Business and Finance Studies Pages: 71-79 Volume: 6 Issue: 3 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n3-2015/RBFS-V6N3-2015-7.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:3:p:71-79 Template-Type: ReDIF-Article 1.0 Author-Name: Todd Brown Author-Name: Sarah Sykes Author-Name: Glen McMahon Title: INVESTMENT IN TORREFACTION VERSUS TRADITIONAL PELLET PLANTS Abstract: This case requires students to identify the best pellet mill project available by having them analyze a number of different factors including net present value and internal rate of return. Students are given information about the pellet mills themselves, and a number of different costs to help with their analysis. Students must determine which factors are more conclusive when deciding on a project and weigh the options to eventually decide which one will be a better investment. Students may make another plant plan, different from the two described if they think it will be a better investment. This case is appropriate for junior and senior level students, as well as masters level students. Students should have some knowledge of accounting and finance principles. Students may work individually or in teams to complete this project. This case should require about 4-8 hours of outside work and about an hour of in-class discussion. Classification-JEL: G30 Keywords: Pellets, Torrefaction, Capital Budgeting Journal: Review of Business and Finance Studies Pages: 81-90 Volume: 6 Issue: 3 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n3-2015/RBFS-V6N3-2015-8.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:3:p:81-90 Template-Type: ReDIF-Article 1.0 Author-Name: Julie Haddock-Millar Author-Name: Chris Rigby Title: BUSINESS STRATEGY AND THE ENVIRONMENT: TESCO PLC’S DECLINING FINANCIAL PERFORMANCE AND UNDERLYING ISSUES Abstract: The case presents a teaching tool which requires students to 1) analyze the financial performance of Tesco Plc over the last four years; 2) compare Tesco’s market position with key competitors; 3) identify and evaluate Tesco’s business strategy; 4) evaluate the causes of Tesco’s decline in performance; 5) develop recommendations to address declining performance; 6) identify and evaluate the Human Resource strategic role in addressing and supporting performance. The case is suitable for a business strategy or human resource strategy class. The case is appropriate for use at the undergraduate or masters level. Students should have some familiarity with business and human resource management strategy before being assigned to the case. Students might be assigned to work individually or in teams on the project. Individuals or groups may be required to present their research to the class for discussion and comment. Six to ten hours outside of class should be required to complete the case study exercise. Classroom discussion should be between two to three hours. Classification-JEL: L81, L21 Keywords: Retail Trade, Financial Performance, Business Strategy, Human Resource Management Strategy Journal: Review of Business and Finance Studies Pages: 91-103 Volume: 6 Issue: 3 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n3-2015/RBFS-V6N3-2015-9.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:3:p:91-103