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Recent times have witnessed a heightened global interest in outsourcing of logistics functions. This is indicated by the volume of writings on the subject in various scholarly journals, trade publications and popular magazines. However, efforts to organize them in an integrated body of knowledge appear to be very limited. Keeping this in view, this paper makes an attempt to develop a comprehensive literature on outsourcing based on more than 100 published articles, papers and books on the subject.

This paper is in closed access. ; Introduction: Taiwan is not particularly well known in the world of international sport. However, the relationship between sport and politics in Taiwan is unusual, if not unique. Successive governments have recognized the potential of international sporting success to enhance the country's global image not least because other such avenues are partially closed as a consequence of the troubled diplomatic relations between Taiwan and the People's Republic of China (PRC). Within this context, taekwondo is one of few sports in which Taiwan consistently achieves remarkable performances on the international stage. Therefore, it is the political value attached to sporting success that makes taekwondo development strategies in Taiwan of considerable interest. The main aim of this study is to analyze the policy (or policies) used to produce elite taekwondo performers in Taiwan by focusing on the relationships between the national governing body (NGB) – the Chinese Taipei Taekwondo Association (CTTA) – and the government, and on key areas of elite sports development. Method: This study adopted a qualitative research approach, drawing upon a series of interviews with 9 governmental officials, 2 legislators, 3 members of staff from interest groups, 2 sports journalists, 2 sports academics and 2 national taekwondo coaches and with analysis based on the Advocacy Coalition Framework (ACF), this study explores the development policy of taekwondo at the elite level in Taiwan. Empirical data gathered from semi-structured interviews and documentary materials are analyzed using the ACF. Results: This study illustrated the relationships that exist between the CTTA and other organizations, including governmental agencies and NGBs as well as located the elite development of taekwondo in five separate domains including (a) the development of elite level facilities, (b) the identification of sporting talent and the development system, (c) the provision of domestic and international competition opportunities for elite athletes, (d) the development system for coaches, the provision of coaches and of sports sciences, and (e) the emergence of full-time athletes. Conclusion: The policy of developing taekwondo at the elite level in Taiwan has been examined in this study. By adopting the ACF, what resources and strategies the CTTA possesses and adopts to deliver its belief system to government and what external factors influence the taekwondo policy-making process have been presented within the discussion. In certain respects, the policy approach taken towards elite development of taekwondo is comparable to that adopted for other sports in Taiwan. However, this study has highlighted the specificities of taekwondo policy-making as well as areas of overlap. Studies that compare elite sport development across the whole range of sports are certainly of value. However, it is argued that they are at their most valuable when detailed studies of individual sports have first been undertaken, informed by various conceptual tools, amongst them the ACF.

AbstractWe identify the difference in the private information conveyed by the announcements of a share repurchase tender offer and of a regular dividend increase. We find that, after controlling for timing, industry, size of cash distribution, and other firm‐specific characteristics, a share repurchase tender offer causes a much larger stock price response than a regular dividend increase. The results suggest that the two cash distribution mechanisms convey differential information. Further examination of the differential information indicates that (1) the upward revision in financial analysts' earnings forecasts following a share repurchase is, on average, greater than that following a regular dividend increase, and (2) a repurchase announcement is followed by a permanent decline in the firms' systematic risk while a dividend‐increase announcement is not.

This paper measures unexpected dividend changes in testing the free cash flow and information/signaling hypotheses using the Bar–Yosef/Sarig method. The empirical findings reveal the following: (i) The association between announcement period abnormal returns and the cash level is significantly positive for low q firms; (ii) The positive association between announcement period, abnormal returns, and the cash level is stronger in low q than in high q firms for most regressions; (iii) Low q firms reduce their capital and research and development (R&D) expenditures during the four fiscal years following dividend increase announcements. Our results are consistent with the free cash flow hypothesis.

The main purpose of this study is to investigate the relative advantages and disadvantages of first-mover hypotheses by examining the role of entry timing in the announcement effects of corporate capital investment. Our empirical results suggest that those firms first announcing their capital investment will experience greater share-price effects than the followers in the same industry. In addition, the financial analysts tend to revise upward their announcement-period earnings forecasts for those capital investment announcers, suggesting that announcements of capital investment convey positive information about the earnings prospects of the announcing firms. Furthermore, analysts' revisions of earnings forecasts subsequent to such announcements are more favorable for leading-announcer firms than the followers. Overall, our findings provide fully support for the first-mover advantages hypothesis, indicating the importance of the entry timing when announcing a corporate capital investment.