1,720,955 research outputs found
The Corporate Social Responsibility of Pharmaceutical Product Recalls: An Empirical Examination of U.S. and U.K. Markets
No full textcorporate social responsibility, pharmaceutical industry, product recalls, shareholder wealth, UK and US comparison,
Product Recalls and Stock Market Reaction: Empirical Evidence from the Pharmaceutical Industry in the UK And USA
No full textThis dissertation attempts to study and understand stock reaction upon product recalls in the United Kingdom (UK) and United States of America (USA) pharmaceutical industry by employing the event study methodology. Drawing on the growing importance and repercussions from product recalls in the pharmaceutical industry on societys wellbeing, the focus of this study intends to ascertain if there were negative stock reactions accompanied by significant abnormal returns upon recall announcements. In addition, this study investigates whether the act of product recall, being a subset of Corporate Social Responsibility (CSR), would significantly affect a CSR advocate comparatively in terms of variation in the degree of stock reaction as compared to a non-CSR advocate in accordance to its inclusion on the FTSE4Good Index and Dow Jones Sustainability Index (DJSI). Finally, the study aims to examine if the dissemination of new information is efficient in the stock market during these announcements.
This event study was embarked on by collating data from listed pharmaceutical firms in the UK and USA respectively, which had product recall announcements for the years 1998 to 2004 and was further segregated and analysed individually as different recall classes. This study was further substantiated by the Corrado (1989) rank test for smaller samples. It was observed in the findings that there existed negative stock reaction upon product recalls for all classes of recalls, though not significant on announcement days. Exceptional findings were noted for product recalls of moderate risk whereby positive post-announcement stock reactions suggested that product recalls were viewed favourably as an act of good CSR practice. The delayed stock reactions during post-announcement periods indicated some form of market inefficiency.
From an ethical and legal CSR perspective, the practice of product recalls did not result in less adverse stock reactions and there were no significant variation in results between CSR and non-CSR advocates in both countries. Comparatively, the results were clearly mixed and the magnitude of stock reactions was observed to be greater in the UK as compared to the USA. Possible explanation for the findings noted were directed towards the differing public policies adopted in promoting CSR, differing market capitalisation levels and emerging Socially Responsible Investment (SRI) developments.
The role of government regulation and legal obligations as an intervening factor towards stock reaction on product recalls as implicated in this study remains an interesting notion that warrants further attention in future researches. Replication of this event study could further be extended to myriad industries and countries with varying degrees of development to determine if investors reactions towards product recalls were similar.
Viewing the evolving CSR development and the mixed stock reactions on pharmaceutical product recalls, it is evident that the market perception and attitude towards CSR remain varied. Efforts to inculcate CSR awareness amongst stakeholders of firms, which includes but not limited to investors, should remain the focus in appreciation of the benefits attached therewith
Product Recalls and Stock Market Reaction: Empirical Evidence from the Pharmaceutical Industry in the UK And USA
Full text linkThis dissertation attempts to study and understand stock reaction upon product recalls in the United Kingdom (UK) and United States of America (USA) pharmaceutical industry by employing the event study methodology. Drawing on the growing importance and repercussions from product recalls in the pharmaceutical industry on societys wellbeing, the focus of this study intends to ascertain if there were negative stock reactions accompanied by significant abnormal returns upon recall announcements. In addition, this study investigates whether the act of product recall, being a subset of Corporate Social Responsibility (CSR), would significantly affect a CSR advocate comparatively in terms of variation in the degree of stock reaction as compared to a non-CSR advocate in accordance to its inclusion on the FTSE4Good Index and Dow Jones Sustainability Index (DJSI). Finally, the study aims to examine if the dissemination of new information is efficient in the stock market during these announcements.
This event study was embarked on by collating data from listed pharmaceutical firms in the UK and USA respectively, which had product recall announcements for the years 1998 to 2004 and was further segregated and analysed individually as different recall classes. This study was further substantiated by the Corrado (1989) rank test for smaller samples. It was observed in the findings that there existed negative stock reaction upon product recalls for all classes of recalls, though not significant on announcement days. Exceptional findings were noted for product recalls of moderate risk whereby positive post-announcement stock reactions suggested that product recalls were viewed favourably as an act of good CSR practice. The delayed stock reactions during post-announcement periods indicated some form of market inefficiency.
From an ethical and legal CSR perspective, the practice of product recalls did not result in less adverse stock reactions and there were no significant variation in results between CSR and non-CSR advocates in both countries. Comparatively, the results were clearly mixed and the magnitude of stock reactions was observed to be greater in the UK as compared to the USA. Possible explanation for the findings noted were directed towards the differing public policies adopted in promoting CSR, differing market capitalisation levels and emerging Socially Responsible Investment (SRI) developments.
The role of government regulation and legal obligations as an intervening factor towards stock reaction on product recalls as implicated in this study remains an interesting notion that warrants further attention in future researches. Replication of this event study could further be extended to myriad industries and countries with varying degrees of development to determine if investors reactions towards product recalls were similar.
Viewing the evolving CSR development and the mixed stock reactions on pharmaceutical product recalls, it is evident that the market perception and attitude towards CSR remain varied. Efforts to inculcate CSR awareness amongst stakeholders of firms, which includes but not limited to investors, should remain the focus in appreciation of the benefits attached therewith
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Full text linkWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
koamabayili/VECTRON-author-checklist: VECTRON author checklist
No full textWe have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
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