Competing models of quality management and financial performance improvement.

Six competing models of quality management and financial performance improvement are hypothesized and statistically tested, using data from a survey of general managers of 288 four- and five-star hotels in Egypt and structural equation modeling. The comparative analysis of the conceptually and structurally different models suggests that financial performance can be improved when quality management is viewed holistically as a commonality of its interconnected practices (top management leadership; employee management; customer focus; supplier management; process management; quality data and reporting). Managers must therefore integrate stakeholders into design and implementation of effective quality management systems. This study: advances knowledge of the roles of alternative models of quality management in improving financial performance; deepens our understanding of the main features of a quality management system capable of enhancing organizational performance; and contributes to ongoing debates in quality and service management literature on factors that impact financial performance

الكتابة والأصوات - اللغة العربية - اللغات

"Kroņa raksts un pieturzīmes un to novietojums" - par arābu valodas ortogrāfijas reformu (lielo burtu izmantošanas ieviešanai un pieturzīmju lietošanas sakārtošanai). Ārējos informācijas avotos minēts arī ar nosaukumu angļu valodā "Crown letters and punctuation and their placements.

UNDERPRICING AND LONG-RUN PERFORMANCE OF SHARE ISSUE PRIVATIZATIONS IN THE EGYPTIAN STOCK MARKET

The underpricing of initial public offerings (IPOs) is documented for 53 share issue privatizations in Egypt between 1994 and 1998. Over several intervals (up to five years), I find mixed results: share issue privatizations sustain their positive performance and provide investors with positive abnormal returns over a one-year period; however, my results document negative abnormal returns over three- and five-year horizons. The initial excess returns are determined by ex ante uncertainty and oversubscription, whereas the aftermarket abnormal returns over a one-year period are driven by ex ante uncertainty and the price-earnings ratio. However, over three- and five-year periods, abnormal returns are significantly affected by initial excess returns, the price-earnings ratio, and, to a lesser extent, oversubscription. The empirical findings are consistent with IPO markets in which investors are overoptimistic about the performance of these issues but grow more pessimistic over time. 2005 The Southern Finance Association and the Southwestern Finance Association.