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1.
This study compared multiple ratings of the organizational citizenship behavior (OCB) of managers obtained from three different sources: self, superiors, and subordinates. The results examining convergence across sources demonstrated that there were stronger correlations between ratings made by others (subordinates and superiors) than between ratings made by self and others. The results also indicated that there were mean level differences in ratings across sources. Specifically, ratings made by self and superiors were higher than were ratings made by subordinates. The results examining convergence within sources suggested that the reliability of OCB ratings based on a single rater were quite low; however, reliability increased considerably when aggregating raters. Future research and implications are discussed.  相似文献   

2.
Executive sponsorship is critical to project success; however, the impact of the sponsorship role on project management value and sustainability is not known. Using correlation analysis we examine survey responses from 91 U.S. executives. Formalizing and providing training on the sponsorship role and responsibilities are both significantly related to senior management's perception of the sustainability of project management value. Unexpectedly, no significant relationship exists between the prevalence of the sponsorship role and project management value outcomes. These results extend our understanding of the importance of the sponsorship role and provide practical guidance for those seeking to improve the sustainability of project management value.  相似文献   

3.
This study explores the impact of chief executives’ intangible assets – motives, capacity and networks – on government performance. Three main hypotheses suggesting a direct relationship between these assets and performance are tested using data from municipalities in El Salvador, where the chief executive is the elected mayor. The research involved an in-field survey of 135 Salvadorian mayors (out of 262) and data collected from national agencies, focusing on two dimensions of municipal performance: service delivery (electricity and running water) and expansion of revenue (with national grants). After controlling for municipal and constituent-level factors, findings indicate that the chief executive’s capacity (specifically mayoral expertise) is positively correlated to municipal delivery of electricity and running water; intrinsic motivation is linked to expansion of water services; and municipalities whose chief executives are nationally networked tend to receive more grant monies. This study contributes to the literature on government performance by assessing the role of chief executives’ intangible assets in the developing context of a relatively newly established democracy in Latin America.  相似文献   

4.
This paper reviews the literature on corporate relocation from the perspective of both the employer and the employee. Patterns of mobility as well as factors effecting willingness to relocate are discussed. Literature related to stress and relocation, from the viewpoint of the employee, spouse and children is reviewed. A summary of the legal aspects of job relocation and the dos and don'ts of human resource policy is also provided. Finally, alternatives to job relocation are suggested and a recommendation on the direction in which the literature and research should progress is provided.  相似文献   

5.
6.
Adaptive expectations and cobweb phenomena: Does heterogeneity matter?   总被引:1,自引:0,他引:1  
This paper studies a cobweb-type commodity market characterized by a strictly monotone demand and supply, in which n types of firms operate. Types differ in a key parameter governing price expectations which are supposed to be adaptive. The unique steady state of the resulting economic dynamics is characterized in terms of stability and the impact of the number of firms types is studied: to this end the notions of structural and behavioural degree of instability, which are introduced in the paper, prove to be crucial in determining whether stability or instability prevail. The case of market integration is also considered and conditions to have stability (or instability) in terms of the original markets' parameters are given. The baseline structure is extended in two directions. The first extension assumes the point of view of an authority who is uncertain about the firms types. In this case the structural degree of instability determines how heterogeneity affects the probability of ending up with a stable outcome. The second extension consists in endogenizing the choice of predictors through a discrete choice-based evolutionary mechanism. In both cases the amount of the heterogeneity and its possible variations play a critical role in shaping the range of possible long-run outcomes of the model.  相似文献   

7.
Using a perception‐based crime deterrence approach, we present evidence that corporate insiders located closer to the Securities and Exchange Commission regional offices trade less frequently on their own company's stocks, while they earn higher abnormal returns from such insider transactions. These results are robust to several additional tests. Our further analysis indicates that such differences in trading profitability are mitigated during the periods of a high level of legal jeopardy such as the periods around earnings announcements and mergers and acquisitions. These findings are consistent with the view that Securities and Exchange Commission oversight has an impact on insiders' trading behavior by influencing their perceptions of sanctions risk. Copyright © 2015 John Wiley & Sons, Ltd.  相似文献   

8.
This paper studies the effect of structural oil shocks on personal consumption expenditures (PCE). First, we estimate a nonlinear simultaneous equation model, compute impulse responses by Monte Carlo integration, and conduct a test of the symmetry of the impulse response functions. We find that aggregate PCE responds asymmetrically to positive and negative oil‐specific demand shocks. Second, we find that aggregate PCE responds negatively to positive oil demand shocks, while adverse oil supply shocks are of limited effect. Third, we find important heterogeneity in the magnitude, sign and timing of the disaggregate PCE responses to structural shocks in the crude oil market. Our results clearly indicate that the response of PCE to an unexpected oil price increase depends on the source of the oil price shock. Our findings are robust to different nonlinear transformations for the real price of oil.  相似文献   

9.
How firms achieve entry into new‐to‐the‐firm product markets is an important but overlooked topic. Some aspiring entrants fail during product development, and they miss the opportunity to enter. In such contexts, firms often take action to de‐risk entry, for example, by drawing upon the experience of top executives with market‐specific expertise obtained in prior jobs. However, the empirical evidence from this study shows that beyond a narrow threshold, greater prior experience in the top executive team was associated with a greater likelihood of failed entry attempts among the firms that I tracked over two decades in the biotechnology industry. This result held across product markets with low and high degrees of dynamism. Based on the literature on dynamic managerial capabilities, where entry into new markets indicates managers’ ability to reconfigure organizational resources and adapt to a changing environment, this study’s main contribution is to illustrate how and why experience matters for entry.  相似文献   

10.
Self-employment comprises an important share of employment in many countries, and tends to expand during downturns through higher inflows from unemployment. Furthermore, countries with higher self-employment shares exhibit lower cyclical output persistence. I build a business cycle model with frictional labor markets where individuals can be self-employed or salaried employed. I show that economies with larger self-employment shares exhibit faster economic recoveries. Differences in the ease of entry into self-employment as the economy recovers explain the contrasting cyclical dynamics. The model successfully captures the cyclical patterns of self-employment and the relationship between self-employment and output persistence in the data.  相似文献   

11.
《Economic Systems》2023,47(1):101056
In this study, we investigate the relationship between the political environment and bank performance and whether this relationship is contingent on bank size. We use a sample comprising more than 1600 banks in 58 countries and a set of multidimensional measures collected by the Economist Intelligence Unit to proxy for the political environment. Overall, our findings indicate that political uncertainty is associated with a significant decrease in bank performance. A deeper analysis shows that bank size matters when analyzing the relationship between political risk and bank performance. Precisely, large banks are less vulnerable and more resilient under political distress than other banks. Our findings shed light on the importance of bank size as a determinant of bank performance in countries with high political risk, particularly for investment decision makers. The results are robust to a variety of alternative measurements, and different estimation techniques to deal with endogeneity.  相似文献   

12.
Despite a plethora of studies that demonstrate the positive impact of strategic human resource management on firm performance, existing knowledge of the processes through which such gains can be achieved remains limited. This study aims to extend our knowledge by investigating the mechanism through which a teamwork‐oriented executive strategic human resource management system impacts organizational ambidexterity. Specifically, by integrating the resource‐based view and information‐processing theory, we examine the mediating role of top management team effectiveness and the moderating role of knowledge–sharing intensity from middle managers to top management teams. Drawing on a multiple‐source and multiple‐respondent survey from 144 manufacturing firms in China, we show that top management team effectiveness partially mediates the effect of the executive strategic human resource management system on organizational ambidexterity. Moreover, knowledge‐sharing intensity from middle managers to top management teams strengthens the effect of the executive strategic human resource management system on organizational ambidexterity. © 2016 Wiley Periodicals, Inc.  相似文献   

13.
In recent years, there have been significant changes in the fields of collective action and political activism. The increasing use of ICTs in social interactions has facilitated informal ways of organizing and affected the participation, emergence, and organizing of conflictual and consensual collective actions. In this study we seek to understand how the integrated use of multiple ICTs, that is the ICT ensemble, affects the organizing of consensual collective action. We investigated the ICT ensembles used by two civic movements that successfully organized large-scale consensual collective action events in two European countries. In our results, we reveal how ICT ensembles constrained and facilitated the organizing functions and requirements of collective action. The findings show that ICTs allow organizers to operate purposefully in order to organize collective action, but the extent to which they succeed in the actual concretization of collective action actually depends on their capacities and intents. Therefore, we argue that human factors (that is, their resourcefulness and agency) are greatly implicated in the success of collective action supported by ICTs. This study extends the research on impact of technology-enabled collective action by looking at the combined use of multiple ICTs and examining the rare and overlooked phenomenon of consensual collective action.  相似文献   

14.
In the last decade, the demand for sustainable and social investments has improved. The mutual funds industry has responded to market needs by offering a number of investment products focused on Environmental, Social and Governance (ESG) companies. The aim of this article is to understand if an ESG score can actually be considered a valid criterion that portfolio managers could adopt, along with traditional risk–return optimisation, in selecting asset portfolios. The paper analyses the link between the performance and the ESG score of different sectoral portfolios (one for each sector of the Global Industry Classification Standard), entirely composed of ESG assets, in the search for a clear and strong positive correlation that could suggest an overall advantage to focus on an ex ante choice of assets with high ESG scores.  相似文献   

15.
This paper examines the proposition, set out in The Spirit Level, that inequality is associated with high levels of obesity. It reviews existing literature and uses British Household Panel Survey data to study how district‐level and regional‐level income inequality is related to obesity in the UK. This is likely to be the first study of its type that uses individual‐level data that is representative of the UK population. We find little evidence to support policies that reduce income inequality with the aim of reducing obesity levels in the UK.  相似文献   

16.
This study extends the traditional focus of active labour market policy evaluation from a static comparison of participation in a programme versus non‐participation (or participation in another programme) to the evaluation of the effects of programme sequences, that is, multiple participation or timing of such programmes. Explicitly allowing for dynamic selection into different stages of such programme sequences we analyse multiple programmes, the timing of programmes, and the order of programmes. The analysis is based on comprehensive administrative data on the Austrian labour force. Our findings suggest that (i) active job search programmes are more effective after a qualification programme compared to the reverse order, (ii) multiple participation in qualification measures dominates single participation and (iii) the effectiveness of several labour market programmes deteriorates the later they start during an unemployment spell.  相似文献   

17.
In this paper, we estimate generalized autoregressive conditional heteroskedasticity (GARCH) and vector autoregressive (VAR) models to examine whether investor sentiment impacts the returns and volatility of various U.S. Dow Jones Islamic equity indices. The results from GARCH estimations show that changes in investor sentiment are positively correlated with the returns of the Shari’ah-compliant market portfolio. In addition, we find similar results for the three Shari’ah-compliant firm-size portfolios (i.e., large-, medium-, and small-cap). However, this relationship is stronger for harder to arbitrage Shari’ah-compliant stocks; that is, investor sentiment has a greater influence on small-cap equities. Additionally, estimations from the vector autoregressive model confirm the aforementioned results. In terms of volatility, GARCH estimations suggest that bullish shifts in investor sentiment in the current period are accompanied by lower conditional volatility in the ensuing period. In general, our findings suggest that as noise traders create more risk the market seems to reward them with higher expected returns.  相似文献   

18.
This study investigates whether the role of gold changes due to the introduction of gold exchange-traded funds (ETFs) using sample data of seven countries in which physically-backed gold ETFs have been issued. The results show that the traditional roles of gold do change after the introduction of gold ETFs, particularly in the corresponding stock markets. The functions of hedge and safe haven provided by gold wear off during the post-ETF period in stock markets. In currency markets, however, gold still serves as a hedge and safe haven asset, and such effects become stronger during the post-ETF period. Moreover, gold ETFs play a role of relative strong safe haven than the physical gold does while the leading (lagged) stock returns extremely decline. Like the purposes of using physical gold assets, gold ETFs also provide hedge and safe haven effects to the exchange rate risks. Therefore, we might confirm that physical gold could be largely replaced by gold ETFs and investors could utilize gold ETFs to avoid potential risks in financial markets.  相似文献   

19.
The concept of reporting nonfinancial information within the annual report, so‐called Integrated Reporting (IR) is a rising topic in reporting practice. Supporters claim that IR provides a better view regarding the value creation of a firm. This study investigates the value relevance of IR and the influence of certain characteristics such as assurance. Thus, this paper contributes to the existing literature by examining the actual advantages for firms when adopting an IR approach. The Ohlson model is applied for the market valuation of 50 companies of the STOXX Europe 50 between the years 2010 and 2016. The results of this study support the cost‐concerned school by showing a negative influence on the market value. Nonetheless, the study suggests that the quality of the reports is relevant for market valuation, as the negative effect is mitigated by the quality of the reports.  相似文献   

20.
《Economic Outlook》2015,39(2):13-19
  • A number of factors underpin the Coalition's fiscal strategy, the most important being the use of rules (for the structural current deficit and net debt) and the creation of a new “institution”, the OBR, to monitor it. According to the Chancellor, this combination would ensure the government's “credibility and avoid elevated sovereign default premia and foster sustainable recovery.” 1
  • It is already clear that the limited degree of independence for the OBR is a major shortcoming but there is another, more serious, problem in the Treasury's belief that the deficit ratio can be reduced by making spending cuts as clear failures by the government to achieve its fiscal targets on the deficit have shown. Such a failure is consistent with the results of research over the last decade which gives strong support to the view that fiscal multipliers are much larger than unity.
  • The length of the downturn, the repeated large failures to hit deficit reduction targets and now the source and nature of the recovery show that his plan is failing. The former was predictable from the evidence just noted. In turn, the recovery relies on the surge in consumer demand following the easing of credit conditions for house purchase and points to a switch to a “Plan B”. It also demonstrates that the Chancellor could have brought about recovery very much earlier had he stimulated demand on taking office not reducing it with his self‐imposed austerity measures. He could even have stimulated demand to a much more constructive long‐term effect by increasing public investment.
  相似文献   

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