Design and impacts of securitized leveraged buyouts

Private equity investors have traditionally used innovative financial methods in structuring their leveraged buyouts(LBO) deals. In recent years, they have frequently employed securitization to raise funds on the back of their acquisitions’ operating assets. A distinctive feature of these transactions is that they aim to enhance the securitizing LBO’s debt pay capacity through a set of structural enhancements including operating debt covenants. Operating covenants — supported by legal security arrangements — mitigate an LBO’s financial and operating risks and improve its cash generation potential. We test this hypothesis by examining changes in the operating income of Hertz LBO. The results show that, within the operating framework adopted by Hertz LBO, securitization improved the transaction’s debt service capacity

Firms benefit when board directors have different nationalities

One benefit is the ability to respond to the expectations of diverse groups, write Kristína Sághy Estélyi and Tahir M. Nisa

Whistleblowing: When do employees act to ‘blow the whistle’?

The importance of eliminating fraud, illegal activities and generally unethical practices has always been of paramount significance in the corporate world. Thus, whistleblowing has become ever more important. Over the past years, organizations have adopted certain practices in order to encourage a greater number of employees to report misconducts; it would therefore be intriguing to anticipate whether there is any gender association with whistleblowing. This research illustrates the differences in gender by highlighting the reasons that could exist behind these assumptions. Particularly, the purpose of this paper is to afford insights into whistleblowing in medium to large organizations, and to determine whether there are any differences in how whistleblowing manifests. Particularly, we analyze how gender differences might affect an individual’s decision to ‘blow the whistle’, with a focus on under what circumstances employees may feel the need to act accordingly. Our findings show that women are more likely to whistleblow than men based on their character traits of emotional, fair and caring. However, results also prove that both genders are aware that whistleblowing is sometimes necessary thus supporting that they should do it. Limited prior literature combining gender and whistleblowing reflects the originality of this research and how future research can build on these findings

N-(4-Chloro­phen­yl)-2-hy­droxy­benzamide

In the title compound, C13H10ClNO2, the dihedral angle between the aromatic rings is 20.02 (6)° and intra­molecular N—H⋯O and C—H⋯O hydrogen bonds both generate S(6) rings. In the crystal, mol­ecules are linked by O—H⋯O hydrogen bonds into C(6) chains propagating in [010]

5-Chloro-2-hy­droxy­benzoic acid

The asymmetric unit of the title compound, C7H5ClO3, contains two mol­ecules; both feature an intra­molecular O—H⋯O hydrogen bond, which generates an S(6) ring. In the crystal, both mol­ecules form inversion dimers linked by pairs of O—H⋯O hydrogen bonds with R 2 2(8) ring motifs. The dimers are inter­linked by C—H⋯O inter­actions

How technostress may affect employee performance in educational work environments

Despite there being a proliferation of research into the relationship between educators and work-related stress, there appears to be a lack of research on how institutions respond to this problem. The development of information and communications technology (ICT) has contributed to extra stress (technostress) in the education sector as the need to use technology increases and technostress develops. Therefore, this research aims to explore the concept, role and effects of technostress in educational work environments. The education sector is one of the top three industries where occupational stress is most present in the UK. With potential consequences such as increased turnover and absenteeism, it can create extremely costly implications for institutions. It is important that educational organisations ensure that levels of technostress are minimised as much as possible in order to prevent these outcomes from occurring. An exploratory qualitative research methodology was used involving forty-five interviews with educators. Findings showed different perspectives and approaches to technostress and revealed role ambiguity, technology in the workplace, work-life balance and organisational perspectives and support including understanding turnover intentions as the main focus areas in relation to the current study of technostress in education

2-Hy­droxy-N-(4-methyl­phen­yl)benzamide

In the crystal structure of the title compound, C14H13NO2, the mol­ecules are approximately planar, the r.m.s. deviation for all non-H atoms being 0.0435 Å; the dihedral angle between the two rings is 3.45 (12)°. The planarity is accounted for in terms of the presence of intra­molecular N—H⋯O and C—H⋯O hydrogen bonding, each of which completes an S(6) ring motif. The mol­ecules are stabilized in the form of supra­molecular chains extending along the crystallographic c axis due to inter­molecular O—H⋯O and C—H⋯O hydrogen bonding; each type leads to an R 2 1(6) ring motif

4-Chloro-2-hy­droxy-N-(4-methyl­phen­yl)benzamide

In the title compound, C14H12ClNO2, the dihedral angle between the aromatic rings is 14.87 (11)° and an intra­molecular N—H⋯O hydrogen bond generates an S(6) ring. In the crystal, mol­ecules are linked by O—H⋯O hydrogen bonds, generating C(6) chains propagating along the c-axis direction

2-Hy­droxy-5-nitro-N-phenyl­benzamide

The mol­ecule of the title compound, C13H10N2O4, is almost planar with a dihedral angle between the benzene rings of 1.99 (13)°. The nitro group and its parent benzene ring are oriented at a dihedral angle of 7.6 (3)°. Intra­molecular C—H⋯O and N—H⋯O hydrogen bonds form two planar S(6) motifs. Inter­molecular O—H⋯O=C hydrogen bonds join mol­ecules into chains extending along the c axis

2-Hy­droxy-N-(3-nitro­phen­yl)benzamide

In the crystal structure of title compound, C13H10N2O4, as expected, the nitro- and hy­droxy-substituted benzene rings are planar with r. m. s. deviations of 0.0037 and 0.0014 Å, respectively, but are twisted slightly relative to each other, making a dihedral angle of 12.23 (7)°. The nitro group is only slightly twisted [by 2.71 (16)°] with respect to its parent ring. An intra­molecular N—H⋯O hydrogen bond forms an S(6) ring motif. Inter­molecular N—H⋯O and O—H⋯O hydrogen bonds build up sheets parallel to the ab plane. Futhermore, weak π–π inter­actions [centroid–centroid distances = 3.7150 (8) 3.7342 (6) and 3.9421 (8) Å] between the rings yield a three-dimensional network