What Motivates Experts to Share? A Prospective Test of the Model of Knowledge‐Sharing Motivation

Knowledge sharing is an employee behavior, critical to organizational success in knowledge‐intensive work environments. This study set out to empirically test the model of knowledge‐sharing motivation designed and presented in this journal by Gagné (2009). The model combines two established behavioral theories, the theory of planned behavior and self‐determination theory, and connects various human resource practices to it. This prospective survey study ( n = 200) in a large expert organization employed structural equation modeling. The results mainly supported the proposed model, with attitudes, autonomous motivation, and sharing norms predicting knowledge‐sharing intentions ( R² = .69), which predicted knowledge‐sharing behavior ( R² = .42). We also identified potential ways to modify the model to better suit typical knowledge‐sharing contexts. Implications for practice, with the emphasis on how our findings can benefit and be used by human resource management, are discussed. © 2016 Wiley Periodicals, Inc.     

Incentive Effects in Higher Education: an Improved Funding Model for Universities

We examine the incentive effects of risk‐sharing between student and university in the English higher education system. The ‘graduate premium’ has been widely reported and has been used to justify rising higher education participation and increased individual or governmental expenditure. But this premium is simply the mean of a wide distribution, varying, inter alia, by subject, institution, year of graduation and individual. We assume that universities exist in a state of monopolistic competition and are subject to a budget constraint. Using US college data we find evidence suggesting that a funding model which incorporates risk‐sharing improves the efficiency of educational delivery while maintaining subject diversity and access.     

National Cultural Influences on Knowledge Sharing: A Comparison of China and Russia

abstract    This paper presents a set of theoretical propositions regarding knowledge sharing in China and Russia. We argue that there are important national cultural similarities and differences between the two countries that result in certain similarities and differences in individual knowledge-sharing behaviour in Chinese and Russian organizations. We claim that vertical collectivism and particularistic social relations in China and Russia lead to intensive social relations among organizational members, which facilitate knowledge sharing between in-group members in organizations in both countries. We also maintain that differences in the essence of collectivism as well as in the extent of collectivism in the two cultural contexts lead to different intensities of knowledge sharing in Chinese and Russian organizations. Finally, we discuss theoretical and management implications of this research.     

DSGE Models in the Frequency Domains

We use frequency domain techniques to estimate a medium‐scale dynamic stochastic general equilibrium (DSGE) model on different frequency bands. We show that goodness of fit, forecasting performance and parameter estimates vary substantially with the frequency bands over which the model is estimated. Estimates obtained using subsets of frequencies are characterized by significantly different parameters, an indication that the model cannot match all frequencies with one set of parameters. In particular, we find that: (i) the low‐frequency properties of the data strongly affect parameter estimates obtained in the time domain; (ii) the importance of economic frictions in the model changes when different subsets of frequencies are used in estimation. This is particularly true for the investment adjustment cost and habit persistence: when low frequencies are present in the estimation, the investment adjustment cost and habit persistence are estimated to be higher than when low frequencies are absent. Copyright © 2014 John Wiley & Sons, Ltd.     

Habits,Complementarities and Heterogeneity in Alcohol and Tobacco Demand: A Multivariate Dynamic Model*

In this paper we test the existence of forward‐looking behaviour in a multivariate model for alcohol and tobacco consumption. The theoretical framework, based on a dynamic adjustment cost model with forward‐looking behaviour, is enhanced to include the intertemporal interactions between the two goods. The analysis of the within‐period preferences completes the intertemporal model, allowing to evaluate the static substitutability/complementarity relationships. The empirical strategy consists in a two‐step estimation procedure. In a first stage, we obtain the parameters of the demand system, while in a second stage Euler equations are estimated. Results, based on a cohort data set constructed from a series of cross‐sections of the Italian Household Budget Survey, reveal a significant complementarity relationship between alcohol and tobacco. Estimation of the Euler equations does not lead to rejection of the hypothesis of intertemporal dependence, providing evidence for a forward‐looking behaviour in alcohol and tobacco consumption. Moreover, we find significant intertemporal interactions that support the adjustment cost setting in a multivariate model with rational expectations.     

What drives the banks' diversification decision? A dynamic nonlinear panel data approach

This paper empirically determines the drivers of functional diversification decision for 365 banks set in selected Middle East and North Africa (MENA) countries over 1988–2015. For this purpose, we use a dynamic nonlinear panel data model. Our findings reveal that both market share and financial intermediation stratify the diversification decision for the whole MENA sample. Splitting the sample shows that the risk‐adjusted profitability and the loan loss provision ratio exert a major influence over the diversification indicator for Gulf Cooperation Council (GCC) banks, whereas the net interest margin ratio, the bank market share, and financial intermediation are the major drivers of the strategic decision for the remaining non‐GCC banks.     

Managing five paradoxes of knowledge exchange in networked organizations: new priorities for HRM?

The life‐blood of most organizations is knowledge. Too often, the very mechanisms set up to facilitate knowledge flow militate against it. This is because they are instituted in a top‐down way, they are cumbersome to manage and the bridges of trust fail to get built. In their thirst for innovation, the tendency is for firms to set up elaborate transmission channels and governance systems. As a result, staff are drowned in a deluge of mundane intranet messages and bewildered by matrix structures, while off‐the‐wall ideas and mould‐breaking insights are routinely missed. Added to this is the challenge of operating across professional, cultural, regional and linguistic boundaries, where ways of sharing knowledge differ markedly, even within the same project team. Drawing upon extensive research with scientists in the ATLAS collaboration (a high‐energy particle physics experiment comprising 3,500 scientists from 38 countries), we explore five paradoxes associated with knowledge exchange in global networks. Each paradox leads to a proposition which takes the theory and practice of knowledge management in a fresh direction. We conclude by outlining a number of HRM priorities for international knowledge‐intensive organizations.     

Global Credit Risk: World,Country and Industry Factors

We investigate the dynamic properties of systematic default risk conditions for firms in different countries, industries and rating groups. We use a high‐dimensional nonlinear non‐Gaussian state‐space model to estimate common components in corporate defaults in a 41 country samples between 1980:Q1 and s2014:Q4, covering both the global financial crisis and euro area sovereign debt crisis. We find that macro and default‐specific world factors are a primary source of default clustering across countries. Defaults cluster more than what shared exposures to macro factors imply, indicating that other factors also play a significant role. For all firms, deviations of systematic default risk from macro fundamentals are correlated with net tightening bank lending standards, suggesting that bank credit supply and systematic default risk are inversely related. Copyright © 2016 John Wiley & Sons, Ltd.     

TIME VARIATION IN THE DYNAMICS OF WORKER FLOWS: EVIDENCE FROM NORTH AMERICA AND EUROPE

Vector autoregressive methods have been used to model the interrelationships between job vacancy rates, job separation rates and job‐finding rates using tools such as impulse response analysis. We investigate whether such impulse responses change across the business cycle or over time, by estimating time‐varying parameter–vector autoregressions for data from North America (the USA and Canada) and Europe (France, Spain and the UK). While the adjustment process of the labour market to shocks in Canada and the USA is similar, we find the adjustment process differs much more across the European countries, with greater persistence in shocks relative to the USA and Canada. Copyright © 2012 John Wiley & Sons, Ltd.     

Skewness Risk and Bond Prices

This paper uses extreme value theory to study the implications of skewness risk for nominal loan contracts in a production economy. Productivity and inflation innovations are drawn from generalized extreme value distributions. The model is solved using a third‐order perturbation and estimated by the simulated method of moments. Results show that the data reject the hypothesis that innovations are drawn from normal distributions and favor instead the alternative that they are drawn from asymmetric distributions. Estimates indicate that skewness risk accounts for 12% of the risk premia and reduces bond yields by approximately 55 basis points. For a bond that pays 1 dollar at maturity, the adjustment factor associated with skewness risk ranges from 0.15 cents for a 3‐month bond to 2.05 cents for a 5‐year bond. Copyright © 2016 John Wiley & Sons, Ltd.     

Equity‐Liabilities Distinction: The case for Co‐operatives*

Members' shares in co‐operative entities are financial instruments with particular characteristics. In this paper we analyse the relation between firm leverage and systematic risk to provide empirical evidence on the economic substance of the member shares of members of cooperatives. We have studied the characteristics of members' shares in six European countries: France, Germany, Italy, Portugal, Spain and United Kingdom. We have also conducted tests on co‐operatives of these countries over the period 1993–2005. The study reports that in global terms the economic substance of the redeemable part of equity in co‐operatives is not the same across countries. Therefore if accounting standards setters want to develop a global standard for co‐operatives, a recommendation derived from this study would be to follow a probabilistic model to classify the redeemable part of co‐operative financial instruments, where the entity does not have the unconditional right to refuse the redemption, or to report this part as an intermediate item with characteristics of debt and equity.     

Does Financial Development Affect Environmental Degradation? Evidence from the OECD Countries

In this study, building a simple model that incorporates static and dynamic elements, the relationship of financial development and economic growth to environmental degradation is investigated together with the validation of the Environmental Kuznets Curve (EKC) hypothesis. Our analysis is based on an unbalanced panel data set covering the OECD countries over the period 1970–2014. Our approach thoroughly accounts for the presence of cross‐sectional dependence between the sample variables and utilizes second generation panel unit root tests in order to investigate possible cointegration relationships. The empirical findings do indicate that local (NO_x per capita emissions) and global (CO₂ per capita emissions) pollutants redefine the EKC hypothesis when we account for the presence of financial development indicators. Specifically, in the case of global pollution an N‐shape relationship is evident in both static and dynamic frameworks, with a very slow adjustment. Lastly, our study calls for a strengthening of the effectiveness of environmental degradation policies by ensuring sustainability of the OECD banking system in order to drastically reduce emissions. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment     

A Study of Effective Financial Support for SMEs to Improve Economic and Employment Conditions: Evidence from OECD Countries

Using a panel logit regression model, this study analyzes whether or not five categorized financial supports for small and medium enterprises (SMEs) from the governments of 11 Organization for Economic Cooperation and Development (OECD) countries facilitate economic and employment growth: (1) direct government loans to SMEs; (2) government‐guaranteed loans to SMEs; (3) the reinforcement of relationship banking; (4) financial stability steps to ease pro‐cyclicality; and (5) equity‐linked financing. The academic contribution of this research is in identifying the optimal type of government financial support to SMEs given a country's level of financial crisis and market‐rate level. The main empirical test results are as follows. First, the type of financial support that contributes most to economic and employment growth is the set of steps that governments take to ease pro‐cyclicality. Second, the reinforcement of relationship banking can also contribute to improved economic and employment conditions. Third, in less capital‐intensive countries, the results confirm that economic and employment improvement occurs more often if equity‐linked financing is used. Fourth, the adoption of dynamic loan‐loss provisions to prepare for periods of economic recession is necessary to reduce the pro‐cyclicality of SME loans within the 11 OECD countries studied in this paper; it is also necessary to transition from a persistent monetary‐easing policy stance to a flexible monetary stance within a country's fiscal policy in order to make commercial banks benefit from an incentive‐like risk premium for SME loans despite the existence of economic recessions. Finally, the study finds that the need to apply equity‐linked financing methods through the stock market is especially urgent in developing countries. As the managerial perspectives, it is confirmed that easing pro‐cyclicality of SME loan and enhancing banking relationship can contribute to SMEs fund management. Copyright © 2017 John Wiley & Sons, Ltd.     

Towards Unrestricted Public Use Business Microdata: The Synthetic Longitudinal Business Database

In most countries, national statistical agencies do not release establishment‐level business microdata, because doing so represents too large a risk to establishments’ confidentiality. One approach with the potential for overcoming these risks is to release synthetic data; that is, the released establishment data are simulated from statistical models designed to mimic the distributions of the underlying real microdata. In this article, we describe an application of this strategy to create a public use file for the Longitudinal Business Database, an annual economic census of establishments in the United States comprising more than 20 million records dating back to 1976. The U.S. Bureau of the Census and the Internal Revenue Service recently approved the release of these synthetic microdata for public use, making the synthetic Longitudinal Business Database the first‐ever business microdata set publicly released in the United States. We describe how we created the synthetic data, evaluated analytical validity, and assessed disclosure risk.     

How quickly do forecasters incorporate news? Evidence from cross‐country surveys

Using forecasts from Consensus Economics Inc., we provide evidence on the efficiency of real GDP growth forecasts by testing whether forecast revisions are uncorrelated. As the forecast data used are multi‐dimensional—18 countries, 24 monthly forecasts for the current and the following year and 16 target years—the panel estimation takes into account the complex structure of the variance–covariance matrix due to propagation of shocks across countries and economic linkages among them. Efficiency is rejected for all 18 countries: forecast revisions show a high degree of serial correlation. We then develop a framework for characterizing the nature of the inefficiency in forecasts. For a smaller set of countries, the G‐7, we estimate a VAR model on forecast revisions. The degree of inefficiency, as manifested in the serial correlation of forecast revisions, tends to be smaller in forecasts of the USA than in forecasts for European countries. Our framework also shows that one of the sources of the inefficiency in a country's forecasts is resistance to utilizing foreign news. Thus the quality of forecasts for many of these countries can be significantly improved if forecasters pay more attention to news originating from outside their respective countries. This is particularly the case for Canadian and French forecasts, which would gain by paying greater attention than they do to news from the USA and Germany, respectively. Copyright © 2006 John Wiley & Sons, Ltd.     

ISLAMIC FINANCE AS A PROGENITOR OF VENTURE CAPITAL

The antecedents of corporate limited liability are commonly seen to emerge amongst medieval Italian merchant bankers in so‐called commendas, commercial arrangements combining investors and entrepreneurs. Italian merchants trading with the Levant may have adapted the Islamic concept of a risk‐sharing partnership, the qirâd, as a model. Western corporations thus may owe their origins to the influence of Islam's entrepreneurial founder, Mohammed.     

Pay knowledge,pay satisfaction and employee commitment: evidence from Finnish profit‐sharing schemes

Knowledge of the pay system has been identified as one of the key elements affecting the success of the reward system. In this paper, the aim is to study how communication, performance feedback and membership length are related to profit‐sharing knowledge, and how profit‐sharing knowledge is related to profit‐sharing satisfaction and organisational commitment. The data is collected from Finnish personnel funds, which are deferred profit‐sharing schemes. Survey data from over 753 employees in 30 companies in different sectors were used. In studying the antecedents of profit‐sharing knowledge, we found strong evidence that better profit‐sharing communication and higher membership length increase profit‐sharing knowledge. Furthermore, we find strong evidence that the relationship from profit‐sharing knowledge to commitment is mediated by profit‐sharing satisfaction. We discuss the implications for management.     

How motivation,opportunity, and ability drive knowledge sharing: The constraining-factor model

We introduce and empirically test a theoretical metamodel that explains knowledge-sharing behavior among employees. Building on the well-established motivation–opportunity–ability (MOA) framework, we posit that knowledge sharing among employees is a function of their MOA to do so. Existing literature suggests that the interaction among motivation, opportunity, and ability drives knowledge-sharing behavior. In contrast, we specify a new model in which the “bottleneck” or constraining factor among the MOA variables determines the degree of knowledge sharing that occurs. This constraining-factor model (CFM) fits the data better than the traditional multiplicative model and reveals a new, qualitatively different portrait of knowledge sharing that resolves some of the puzzles in the previous literature. The CFM provides macro-level insights with respect to how operations managers can improve employee knowledge sharing by focusing on the bottleneck MOA variable. As a result, the CFM can help set strategic directions of related policies. The model emphasizes that, counter to conventional wisdom, the MOA variables should not be addressed independently, but rather in a dynamic and coordinated way.     

A pricing‐error rule on share distribution in equity joint ventures: The Bayesian approach

Equity joint ventures (EJVs) are a popular governance mode of inter‐firm cooperation that has attracted substantial research attention. The literature, however, still lacks a precise rule for the parents to follow in splitting the equity shares of an EJV, although share distribution is critical to almost all aspects of the co‐ownership relationship. In this study, we fill this literature gap by taking the Bayesian approach to draw a pricing‐error rule on share distribution in EJVs. More specifically, we contend that equity participation by two firms in an EJV allows profit sharing to correct for the errors that they might commit in pricing their inputs to the EJV. For profit sharing to fully nullify such pricing errors, the shares of an EJV must be split between the parent firms in a percentage combination that matches the relative sizes of their pricing errors. Because pricing errors are observable only afterward, share distribution in EJVs resembles a Bayesian process, in which the partners keep updating their estimates on pricing errors to adjust share distribution to a percentage combination that could best nullify their pricing errors. Thus, the eventual outcome of share adjustment is EJV buyout, in that the partner whose pricing errors remain substantial buys out the shares of the other whose pricing errors have become tolerable.     

分散协调型VMI&TPL供应链的协调研究

文章研究了TPL参与VMI运作时,供应商拥有库存决策权而把物流业务外包给TPL负责的分散协调型VMI&TPL供应链的协调问题。在随机需求下,设计了一种联合应用收益共享和批发价格契约并由各成员共担库存风险的联合契约,并进一步给出了基于不对称Nash协商的协调模型来确定契约参数,保证了各成员期望收益的Pareto改进。