Review of Business

Browse past and current articles from this publication.

From the editor.
This issue, continuing our 40th anniversary celebration, consists of several new items in addition to research papers: * Invited Commentary is an occasional column that will feature an expert's vi . . .

New regulation will drive trends in the financial services industry--again.(Invited Commentary)
Humpty Dumpty sat on a wall Humpty Dumpty had a great fall And all the King's horses And all the King's men Could not put Humpty Dumpty together again Since the mid 1970s trends in . . .

How independent is a 'qualified independent underwriter'?
Executive Summary The main goal of this study is to provide statistical evidence about the effectiveness of a Qualified Independent Underwriter (QIU) to minimize conflicts of interest as defined b . . .

Willingness: a reflection on commitment, organization citizenship and engagement from the perspective of Albert O. Hirschman's c
Executive Summary No business organization can be assured of long-term strategic vitality without the continuing willingness of employees to act in the interest of the organization's goals and wel . . .

A strategic analysis of market share for a non-seasonal packaged product.
Executive Summary There are many skin cream products for women, and it is very difficult for a single brand to capture the major share of the market. The competition is intense to get the attentio . . .

The application of logistic regression to pedestrian-walkway safety.
Executive Summary The cost of walkway accidents--pedestrian slips and falls--is substantial. To reduce the incidence of slips, and subsequent falls, companies install and maintain 'slip-resistant' . . .

Examination of a discontinuous innovation adoption in an MBA marketing curriculum: a partnership perspective.(Teaching Points)
Executive Summary A discontinuous innovation alters the social behavior of the adopters. In business and marketing education, such an innovation transforms the behavior of both faculty and student . . .

Global Microloan Program at St. John's University.
Brief Program Overview The Global Microloan Program, GLOBE (GLOBAL LOAN OPPORTUNITIES FOR BUDDING ENTREPRENEURS), serves as a student-managed lending arm to the world's poorest entrepreneurs, leve . . .

From the editor.(Editorial)(Brief article)
The Review of Business has passed another milestone. 2008 is the Journal's 40th year of operation! It started in 1968 under the editorial helm of Dr. Francis Lees of the Economics and Finance Depart . . .

From the special issue editor.(Editorial)
This is a special issue organized to showcase a range of interesting and successful applications in the field of Decision Sciences for the Review of Business. The Decision Sciences discipline applie . . .

The sub-prime mortgage debacle and what we can learn from mathematical programs.
Abstract In this paper we discuss mathematical programming methods for insurance companies, mutual fund managers, and banks to match cash flow and liabilities. We focus on mortgage-backed securiti . . .

Strategic analysis: approaching continuous improvement proactively.
Abstract This paper examines the experience of introducing a continuous improvement tool to the management of an advance technology software engineering company. The model, Strategic Analysis, app . . .

Assessing redundancy's impact on the reliability of microcontroller/processor-based systems in mission critical applications.
Abstract Many commercial and governmental systems employing microcontrollers or microprocessors require very high mission reliability. This goal can be achieved by incorporating single units with . . .

Problems with the application of a metric for CRA compliance in banking.(Community Reinvestment Act)
Abstract This paper discusses the difficulties of applying the Community Reinvestment Act to banks. It finds that the complications of community investment needs and the opacity of compliance form . . .

The intuition and methodology of Value at Risk.
Abstract Value at Risk (VaR) is the maximum dollar portfolio amount that can be lost in a given period of time with a specified level of confidence--usually 5%. VaR has become a valuable tool that . . .

Input-output methodology used for forecasting purposes--a cost analysis.
Abstract Many nations, large and small, use an Input-Output Model to study the interdependence of the production plans and activities of the many industries which constitute an economy. But few, i . . .

The role of modeling in scientific disciplines: a taxonomy.
Abstract Models are ubiquitous across disciplines, but the model as a means of conveying knowledge and abstracting reality is little studied. Scholars in different disciplines may use a variety of . . .

From the Editor.(Editorial)
Many thanks to Dr. Chiang-Nan Chao for doing such a thorough job as Guest Editor for this Special Management Issue of the Review of Business. He presided over a very interesting assortment of topics . . .

Developing leadership skills in college and early career positions.
Abstract Effective leaders take others to places they have never been before. They help organizations achieve their visions and produce meaningful results for all stakeholders. This article review . . .

Kazakhstan's oil supply chain management challenges.
Kazakhstan is endowed with rich oil reserves, which provide an important source of revenues for stable economic growth and improvement of the country's living standard. This paper addresses the chal . . .

Does corporate social responsibility orientation vary by position in the organizational hierarchy?
Abstract This study examines whether an individual's position in the organizational hierarchy affects his or her corporate social responsibility orientation (CSRO). It utilizes Archie Carroll's fo . . .

Student portfolio Web sites: valuable communication aids to future employers.
Abstract A student portfolio Web site can be a valuable communication aid for a student when seeking future employment. This paper presents a straightforward approach on how to develop a student p . . .

Knowledge management implementation in developing countries: an experimental study.
Abstract Managing knowledge efficiently and effectively is considered a core competence for organizations to survive in the long run. The evolution and implementation of Knowledge Management (KM) . . .

The mortgage-backed credit slowdown-and the rules that caused it.
Abstract The U.S. credit crisis in sub-par, mortgage-backed securities that began unfolding in July of 2007 now appears to be spreading to Europe, (1) where housing prices are falling and economic . . .

From the editor.(health care management )(Editorial)
The Winter Issue of the Review of Business offers an interesting assortment of business-related articles beginning with a paper by Ray Haynes and Rajashi Ghosh on mentoring and succession management . . .

Mentoring and succession management: an evaluative approach to the Strategic Collaboration Model.
Abstract This article applies a systems-oriented evaluation methodology to the Strategic Collaboration Model. The Strategic Collaboration Model is used to guide the development of mentoring-center . . .

Building an effective internal audit function: learning from SOX Section 404 reports.(Sarbanes-Oxley Act of 2002 )
Abstract In the wake of the major accounting scandals, internal auditing has emerged as a powerful force in promoting effective controls, risk management, and governance in U.S. companies. This ar . . .

Exploring Internet abuse in the workplace: how can we maximize deterrence efforts?
Abstract To advance our knowledge about Internet abuse in the workplace, this study examines how deterrence mechanisms commonly used within organizations impact individual decisions to abuse the I . . .

Health care management in Finland: an analysis of the wickedness of selected reforms.
Abstract Questions regarding health care management are interesting, not least because of the nature of health care organizations. Professional expertise is high in these organizations, especially . . .

Protecting client lists from departing employees in New York.
Abstract In today's service economy, an employer must guard against departing employees soliciting the employer's clients after that employee has taken a new position elsewhere. This article discu . . .

New valuation rules apply to the charitable donations of vehicles.(American Jobs Creation Act of 2004)
Abstract The rules for determining the amount of a deduction for the charitable contribution of a vehicle were recently amended by the American Jobs Creation Act of 2004. Although charitable contr . . .

Ethical Implications of reporting fair value in financial statements.(Statement of Financial Accounting Standards)
Abstract Statement of Financial Accounting Standards No. 157, Fair Value Measurements, issued by the Financial Accounting Standards Board (FASB) on September 15, 2006 provides enhanced guidance fo . . .

Audit procedures on the use of fair value of share-based compensation.(Public Company Accounting Oversight Board )
Abstract In October 2006, the Public Company Accounting Oversight Board released a series of "staff questions and answers" to pro vide guidance to CPAs who audit estimates of fair value of employe . . .

The new fair value hierarchy: key provisions, implications, and effect on information usefulness.(Statement of Financial Account
Abstract Statement of Financial Accounting Standards No. 157, Fair Value Measurements, introduces a fair value hierarchy that prioritizes the data companies use for such measurements. The new hier . . .

Business combinations: convergence and fair value.(Financial Accounting Standards Board)(International Accounting Standards Boar
Abstract The exposure drafts issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are considered a major joint project on business comb . . .

Fair value measurements in impairment testing: how SFAS No. 157 increases consistency and comparability.(Statement of Financial
Abstract In September 2006, the Financial Accounting Standards Board issued a new standard, Statement of Financial Accounting Standards No. 157, Fair Value Measurements (SFAS 157). Prior to this S . . .

New requirements for measuring and reporting fair value in GAAP.
Abstract Statement of Financial Accounting Standards No. 157, Fair Value Measurements, which was finally issued in September 2006, establishes a framework for measuring fair value in generally acc . . .

The impact of the accounting profession's movement toward fair value reporting in financial statements: an interview with Theres
KPMG LLP, the audit, tax and advisory firm, turns knowledge into value for the benefit of its clients, people, communities and the capital markets. Its professionals work together to provide clients . . .

Special issue: fair value in financial reporting, auditing, and tax accounting.(from the editors)
During most of the last century, standard setters emphasized historical cost accounting. Under this traditional accounting model, the income statement, which results from matching an entity's revenu . . .

From the editors.
The papers published in this issue were presented at a 2006 Symposium organized by the Financial Services Institute, housed at the Peter J. Tobin College of Business, St. John's University. All pape . . .

The cost of being good.
Introduction This paper examines the performance of U.S. equities through the use of socially responsible investment screens. Socially responsible investing (SRI) is reflected in the attitudes of . . .

Do corporate governance, independent boards, and auditors affect market and financial performance? An application to the Istanbu
Introduction The ongoing process of globalization and liberalization has led to significant changes in the relationships between the participant groups and corporate structures. Among the most rem . . .

Impact of corporate governance on the pricing and performance of bank IPOs.
Introduction This study aims to determine the effect of corporate governance-related variables on pricing and performance of initial public offerings (IPOs) by banking holding companies (BHCs). Sp . . .

Information-based accruals strategy.
Introduction It has been well documented that investors frequently fail to detect the lower persistence of the accrual component of earnings, and thus tend to overreact to the information containe . . .

Determinants of the lapse rate in life insurance operating companies.
Introduction The purpose of this study is to determine whether factors influencing the lapse rates on ordinary life insurance products can be identified and their importance statistically assessed . . .

Baby boomers' effect on equity prices: a tsunami or a tempest in a tea pot?
Introduction The effects of demographics on markets and the economy have interested researchers for some time. A specific group, the so-called baby boomers, has been receiving special attention be . . .

Demonstrating arbitrage using Diamonds and the Dow Jones Industrials index.
Introduction There are now no fewer than 450 exchange-traded fund portfolios (ETF, HOLDR, or iSHARES) at www.amex.com and listed on the NYSE, a menu of choices which facilitates investor pursuit o . . .

Minimizing liability with an effective document creation and retention policy.
Abstract An increasing number of statutes and governmental regulations impose obligations on organizations to retain documents. The failure to do so could expose the company to sanctions, liabilit . . .

Understanding the legal status of the world's largest business market: the European Union.
Abstract A great deal of confusion exists as to the legal status of the European Union (the EU) today. The EU is widely recognized as the latest phase in the economic evolution of the Common Marke . . .

Size does matter: an examination of the economic impact of Sarbanes-Oxley.
Abstract We employ an event study analysis to examine the market reaction to congressional agreement on the passage of the Sarbanes-Oxley Act of 2002. We find that as firm size increases, the nega . . .