The primary objective of this dissertation is to examine the role of corporate governance in the performance of publicly listed corporations. The normative research suggests that stronger corporate governance should lead to better market performance and a firm’s governance practice should have a positive effect on its market value. This research focuses on Chinese capital markets because of their unique characteristics with respect to elements of corporate governance.

The primary objective of this dissertation is to examine the role of corporate governance in the performance of publicly listed corporations. The normative research suggests that stronger corporate governance should lead to better market performance and a firm’s governance practice should have a positive effect on its market value. This research focuses on Chinese capital markets because of their unique characteristics with respect to elements of corporate governance.

Chapter One, introduction and research methodology. Chapter Two presents a review of the research domain and the parent literature related to the research problem. The foundation theories, entrepreneurship, and entrepreneurship education literature is reviewed with the research boundaries stated. The theoretical and practical foundations are laid and the research hypotheses are introduced. Chapter Three describes the pretest-posttest experimental research methodology employed to test the hypotheses. Chapter Four discusses the results and Chapter Five concludes the thesis with the data analysis, the research’s limitations, and a summary of the research’s contributions to practice and knowledge including suggestions for future research.

Chapter One, introduction and research methodology. Chapter Two presents a review of the research domain and the parent literature related to the research problem. The foundation theories, entrepreneurship, and entrepreneurship education literature is reviewed with the research boundaries stated. The theoretical and practical foundations are laid and the research hypotheses are introduced. Chapter Three describes the pretest-posttest experimental research methodology employed to test the hypotheses. Chapter Four discusses the results and Chapter Five concludes the thesis with the data analysis, the research’s limitations, and a summary of the research’s contributions to practice and knowledge including suggestions for future research.

Chapter One, introduction and research methodology. Chapter Two presents a review of the research domain and the parent literature related to the research problem. The foundation theories, entrepreneurship, and entrepreneurship education literature is reviewed with the research boundaries stated. The theoretical and practical foundations are laid and the research hypotheses are introduced. Chapter Three describes the pretest-posttest experimental research methodology employed to test the hypotheses. Chapter Four discusses the results and Chapter Five concludes the thesis with the data analysis, the research’s limitations, and a summary of the research’s contributions to practice and knowledge including suggestions for future research.

The value of information technology investments is becoming a topical issue for corporate governance under the recent regulations enacted in the US (Sarbanes Oxley Act, US Congress, 2002). Increasingly, it is becoming clear that the absence of a definitive approach to evaluating IT investments is an impediment to the governance of corporations. Enterprise Resource Planning (ERP) information systems are a key IT implementation that has been promoted in both vendor and practitioner communities alike as a panacea for informed enterprise performance management. This research sets out a methodology for the evaluation of ERP’s contribution to enterprise value. This issue is important because billions of dollars of corporate funds have been invested in these systems since the early 1990s. Shareholders and management require a justification of ERP based upon its proven contribution to enterprise and shareholder value.The study develops a theory for the value relevance of ERP information by showing how ERP meets the requirement of a management and organizational innovation. Such an innovation promotes enterprise operations, improves enterprise performance, supports value creation, and increases shareholder wealth. A model is presented for testing the value of ERP adoption. Empirical testing proceeds in two phases. The first phase develops a model for forecasting normal performance. Performance is shown to be a function of autoregressive earnings moderated by macroeconomic factors impacting operations. The latter are associated with the business cycle. The estimated coefficients of the model are used for predicting the earnings performance of the firm. The residuals of actual earnings less the predicted represent abnormal performance. This represents the unique improvement in performance over the prior year after adjusting for macroeconomic effects. The second phase tests the value relevance of ERP information. A returns–earnings model developed by previous research is adapted with ERP–earnings interaction terms representing the ERP system’s effect on performance. Two classes of tests are performed on the model: tests of performance relevance of ERP systems, and tests of value relevance. The former tests ERP performance across several accounting metrics identified as indicators of firm performance level change. The latter tests the market response to these changes in a bid to determine if, in the perception of the market, the changes in the performance level attained to by the firm are associated with ERP adoption. These tests are performed for each year of a 5–year period following adoption. The results of the tests of performance relevance show that ERP–adopter firms do not achieve significant abnormal earnings in years 1 and 2 of the test period. They realize significant, negative, abnormal earnings in year 3. In years 4 and 5, they attain significant, positive, abnormal earnings. The tests of value relevance show that the market responds significantly to ERP adoption in year 2 of the test, but not in other years. The early response immediately after the year of adoption would seem to indicate a significant early expectation from these systems. However, this does appear to translate into long–term value relevance for ERP.

The value of information technology investments is becoming a topical issue for corporate governance under the recent regulations enacted in the US (Sarbanes Oxley Act, US Congress, 2002). Increasingly, it is becoming clear that the absence of a definitive approach to evaluating IT investments is an impediment to the governance of corporations. Enterprise Resource Planning (ERP) information systems are a key IT implementation that has been promoted in both vendor and practitioner communities alike as a panacea for informed enterprise performance management. This research sets out a methodology for the evaluation of ERP’s contribution to enterprise value. This issue is important because billions of dollars of corporate funds have been invested in these systems since the early 1990s. Shareholders and management require a justification of ERP based upon its proven contribution to enterprise and shareholder value.The study develops a theory for the value relevance of ERP information by showing how ERP meets the requirement of a management and organizational innovation. Such an innovation promotes enterprise operations, improves enterprise performance, supports value creation, and increases shareholder wealth. A model is presented for testing the value of ERP adoption. Empirical testing proceeds in two phases. The first phase develops a model for forecasting normal performance. Performance is shown to be a function of autoregressive earnings moderated by macroeconomic factors impacting operations. The latter are associated with the business cycle. The estimated coefficients of the model are used for predicting the earnings performance of the firm. The residuals of actual earnings less the predicted represent abnormal performance. This represents the unique improvement in performance over the prior year after adjusting for macroeconomic effects. The second phase tests the value relevance of ERP information. A returns–earnings model developed by previous research is adapted with ERP–earnings interaction terms representing the ERP system’s effect on performance. Two classes of tests are performed on the model: tests of performance relevance of ERP systems, and tests of value relevance. The former tests ERP performance across several accounting metrics identified as indicators of firm performance level change. The latter tests the market response to these changes in a bid to determine if, in the perception of the market, the changes in the performance level attained to by the firm are associated with ERP adoption. These tests are performed for each year of a 5–year period following adoption. The results of the tests of performance relevance show that ERP–adopter firms do not achieve significant abnormal earnings in years 1 and 2 of the test period. They realize significant, negative, abnormal earnings in year 3. In years 4 and 5, they attain significant, positive, abnormal earnings. The tests of value relevance show that the market responds significantly to ERP adoption in year 2 of the test, but not in other years. The early response immediately after the year of adoption would seem to indicate a significant early expectation from these systems. However, this does appear to translate into long–term value relevance for ERP.

Doctor of Philosophy / Department of Hotel, Restaurant, Institution Management & Dietetics / Carol W. Shanklin / Ki-Joon Back / This study proposed and tested a theoretical model of service recovery consisting of antecedents and consequences of service recovery satisfaction. This study further tested recovery paradox effects and investigated the effects of situational and attributional factors in the evaluation of service recovery efforts and consequent overall satisfaction and behavioral intentions. The study employed scenario experimentation with three dimensions of justice manipulated at two levels each (2x2x2 between-groups factorial design). Postage paid, self-addressed envelopes and questionnaires (600 copies) were distributed. Participants represented 15 religious and community service groups. All respondents were regular casual restaurant customers. Of 308 surveys returned, 286 cases were used for data analysis. In study 1, the proposed relationships were tested using the structural equation modeling. In study 2, multivariate analysis of variance and multivariate analysis of covariance tests were employed to test proposed hypotheses. The three dimensions of justice had positive effects on recovery satisfaction. Recovery satisfaction had a significant positive effect on customers’ trust. Trust in service providers had positive effect on commitment and overall satisfaction. Commitment had positive effects on overall satisfaction and behavioral intentions. This study indicated that, although a service failure might negatively affect customers’ relationship with the service provider, effective service recovery reinforced attitudinal and behavioral outcomes. The results of this study emphasized that service recovery efforts should be viewed not only as a strategy to recover customers’ immediate satisfaction but also as a relationship tool to provide customers confidence that ongoing relationships are beneficial to them. This study did not find recovery paradox in the experimental scenarios. The magnitude of service failure had significant negative effects on perceived justice and recovery satisfaction. Customers’ rating of stability causation had significant negative effects on overall satisfaction, revisit intention, and word-of-mouth intention. The study findings indicated that positive recovery efforts could reinstate customers’ satisfaction and behavioral intentions up to those of pre-failure. Restaurant managers and their employees need to provide extra efforts to restore the customers’ perceived losses in serious failure situations. Service providers should reduce systematic occurrences of service failure so customer will not develop stability perception.

Master of Agribusiness / Department of Agricultural Economics / Allen M. Featherstone / It is often argued that women have a tendency to be more risk averse than men. This thesis looks deeper into this sophisticated relationship between women, men and money, and investigates the gender differences among U.S. hedge fund managers. Prior research has considered the relationship between mutual fund performance and fund manager characteristics focusing on age, tenure, and level of education. However, none of these previous studies have looked in depth at the hedge fund arena. I hypothesize that female fund managers take less risk and follow less extreme investment styles that remain more constant over time. This suggests that less trading by female managers takes place with lower portfolio turnover, and results in superior net returns. I expected female money managers to be less overconfident and therefore would then trade less. Despite the similarities between female and male managers, I found evidence supporting my hypothesis that gender does indeed influence the decision making process for both investors and the hedge fund management companies.

Master of Science / Department of Hospitality Management and Dietetics / Carol W. Shanklin / Abstract Aging has become a focal point for several segments of the foodservice industry with the forecasted trends. Due to the link between quality of life and satisfaction with food in this population, many Continuing Care Retirement Communities (CCRCs) and retirement communities are employing individuals who have experience in the hotel/restaurant industry. The purpose of the study was to assess residents’ overall satisfaction with quality of food and quality of service in Continuing Care Retirement Communities (CCRC) and retirement communities when the facility employs a foodservice director or chef with culinary training or expertise. The research compared satisfaction based on types of foodservices provided (restaurants and café/bistros); resident characteristics such as gender and length of time residing at a facility; frequency of interaction with the chef or foodservice director; and meal plan requirement. The study was conducted in the Midwest region and included a convenience sample of Retirement Communities and CCRCs in Kansas, Missouri and Nebraska. The variables analyzed were quality of food, quality of service, atmosphere, dining venues, meal plans, and frequency of dining with overall satisfaction. Atmosphere, food quality, dining venues, and meal plans significantly influenced overall satisfaction. Residents in facilities that provided more than one dining option had a slightly lower satisfaction ratings compared to the group who had one dining option. Overall satisfaction ratings for meal plan indicated that the respondents were neutral relative to the affect of meal plan and their overall satisfaction. The frequency of dining in one of the venues was positively influenced by meal plan requirements in the facilities. Residents who had lived in the facilities less than two years rated satisfaction higher. The more frequent the chef and foodservice manager interacted with the residents the higher the rate of overall satisfaction. Foodservice directors and administrators in these facilities can use the results to understand what the customers are looking for and how to improve overall services for their residents.