Italian translation of the questionnaire for professional training evaluation

This work illustrates the psychometric properties of the Italian version of the Questionnaire for Professional Training Evaluation, designed and validated by Grohmann and Kauffeld. This 12‐item questionnaire provides for the evaluation of different training outcomes, is time‐efficient, applicable to several professional contexts and shows sound psychometric properties. In order to test the Italian form, we carried out two studies. In Study 1 (N = 125), an exploratory factor analysis led to a two‐factor solution accounting for short‐ and long‐term training outcomes. In Study 2 (N = 122), a five‐model comparison was performed. Although at first a two‐factor solution seemed to emerge, confirmatory factor analysis found the best fit in a six, inter‐correlated, first‐order factors model (satisfaction, utility, knowledge, application to practice, individual organizational results and global organizational results). Relationships with learning transfer, transfer quantity, type of training, training methodologies and individual variables – gender, age and tenure – are explored. Limitations and research and practical implications are discussed.     

Delivering training strategies: the balanced scorecard at work

Aligning the value of training to organizational goals is an emerging need in human resource management. This study, aiming at expanding the research on training evaluation from a strategic management perspective, examines whether the use of the Balanced Scorecard approach can enable an effective delivery of training strategies, thus strengthening the link between training and organizational goals. The research was based on action research methodology. Researchers worked for about 12 months with three healthcare organizations. The research findings indicate that the balanced scorecard: (1) allows visualization of a clearly focused and internally consistent map of cause‐and‐effect relationships, turning the functional training efforts into strategic results; (2) effectively supports the training function both in managing training processes and in delivering targeted organizational outcomes; (3) offers a specific set of critical measures for evaluating the training function's performance; and (4) permits the fostering of a sound alignment between training programme objectives and functional goals. Various theoretical and practical implications are discussed.     

Monday Effect in the RMW and the Short‐Term Reversal Factors

We document that the positive (opposite) Monday or early‐in‐the‐week effect in Fama–French's robust‐minus‐weak (RMW) factor, first reported by Ülkü (2017), is pervasive across international markets, ruling out data‐snooping. As in the United States, the pattern has strengthened over time. Monday effect in RMW is linked to a combination of institutional investor trading pattern and the weekend sound‐mind effect. We devise a test of the external validity of the weekend sound‐mind effect hypothesis: the short‐term reversal factor, which is profitable within its holding period but leads to larger losses subsequently, exhibits a significant negative Monday effect, as predicted by this hypothesis. Mondays buck fads.     

The IMF After the Asian Crisis: Merits and Limitations of the ‘Long‐term Development Partner’ Role

We examine the view, espoused by a number of commentators in recent months, that the International Monetary Fund (IMF) should seek to withdraw from its long‐term lending operations, in the wake of the recent financial crisis in Asia and elsewhere, and restrict itself to its ‘core competency’ of preventing and where necessary lending into financial crisis. This view is based on a belief that such long‐term lending crowds out both private sector operations and short‐term IMF lending; and that it is ineffective, because of weaknesses in the IMF’s conditionality. Both of these propositions, we argue, can be challenged. In the poorer developing countries there is virtually no private sector to crowd out, and Enhanced Structural Adjustment Facility (ESAF) operations have been conspicuously successful, not only at promoting growth, but also at achieving structural changes not at all achieved by aid donors such as strengthening the tax base. Such changes inevitably require a longer time‐period than the standard three years of an IMF standby, not only in order to induce a production response but also in order to achieve the necessary measure of stabilisation and economic reform without imposing social pressures which wreck the production response. The latter argument is particularly powerful in middle income countries, and provides an argument for IMF support to these countries also whilst they are temporarily excluded from international capital markets. Often also a long‐term presence is needed to achieve effective leverage in short‐term operations. In such cases the IMF’s long‐term lending should be seen as preconditional to the success of, and not as an alternative to, its short‐term operations. We therefore argue for the retention of the Fund’s long‐term lending function; and for this function not to be transferred to the World Bank, which has less credibility in global financial markets and less comparative advantage in macro‐economic management. Measures are indeed needed to reduce the level of the IMF’s exposure to risk in poorer developing countries, but those, we believe, should consist of the preventive measures currently going on, and measures to increase the ratio of equity to debt, rather than measures which would jeopardise the progress in long‐term poverty alleviation capacity achieved by the Fund over recent years     

Do collective bargaining institutions crowd out discussion and implementation of firm‐related training programs? Evidence from Japan

The paper empirically examines labor‐management communication concerning in‐house training programs and its relation to the actual on‐ and off‐the‐job training policy and wage structure. Using governmental datasets from Japan, we study how different labor‐management communication institutions may affect the training interests of employers and employees differently. We classify these institutions in terms of whether they have a legal (i.e. statutory) foundation (‘de jure’) or not (‘de facto’). We find that collective bargaining, with legal grounds, may crowd out employees’ willingness to communicate about training. However, the existence of ‘de facto’ communication channels such as joint labor‐management councils or shop floor committees is positively correlated with both on‐ and off‐the‐job of training. At the same time, the existence of unions is positively correlated with the steepness of wage profiles for mid‐career workers, which is consistent with the fact that employers and employees assume a long‐term relationship. Thus, we show that a multi‐tiered structure of labor‐management communication, together with a long‐term orientation toward the employment relationship, contributes to strengthen employees’ voice in training matters.     

Managing multiple forms of strategic training fit through the Balanced Scorecard

Although the literature recognizes training as an essential driver of organizational effectiveness, little is still known about how to explicitly focus and align training to organizational strategic priorities. This note proposes a model that bridges the strategic human resource management (SHRM) literature and the Balanced Scorecard (BSC) literature – which is one of the most widely recognized strategic performance evaluation approaches intended to foster organizational alignment by translating the firm's strategy into a multidimensional set of financial and non‐financial measures. After having briefly discussed the main differences between the return on investment (ROI) model, which represents one of the major attempt to make training strategic within the existing evaluation research, and the BSC model applied to training management, this note highlights multiple forms of strategic training fit and suggests how to manage training through various scenarios of BSC development. Specifically, the note illustrates four forms of strategic fit – the vertical fit, the horizontal inter‐functional fit, the horizontal intra‐functional fit and the human capital readiness – and discusses their pursuit in terms of six scenarios of training management through the BSC. The note expands some exploratory empirical evidence on the feasibility and usefulness of training scorecards (i.e. the application of the BSC to training) in order to develop some theoretical insights and practical guidance on how they can be leveraged to foster the strategic alignment of training.     

Training evaluation based on cases of Taiwanese benchmarked high‐tech companies

Although the influence of workplace practices and employees’ experiences with training effectiveness has received considerable attention, less is known of the influence of workplace practices on training evaluation methods. The purposes of this study were to: (1) explore and understand the training evaluation methods used by seven Taiwanese companies benchmarked for their excellence; and (2) compare Kirkpatrick’s and Swanson’s training evaluation models with practices used by the benchmarked Taiwanese organizations from a cross‐cultural perspective. Five themes emerged from in‐depth interviews, extending our understanding of training evaluation in the benchmarked Taiwanese organizations.     

An investigation into the relationship between training evaluation and the transfer of training

The purpose of this study was to investigate the relationship between training evaluation and the transfer of training in organizations. We hypothesized that training evaluation frequency will be related to higher rates of transfer because evaluation information can identify weaknesses that lead to improvements in training programs and create greater accountability among stakeholders for training outcomes. The data were obtained from 150 training professionals who were members of a training and development association in Canada. The results indicated that training evaluation frequency is positively related to training transfer. However, among Kirkpatrick's four levels of evaluation criteria, only behavior and results criteria were related to higher rates of transfer of training, indicating that the level of evaluation criteria is important for training transfer. These results indicate the importance of organizational‐level initiatives such as training evaluation in addition to individual‐level practices for facilitating the transfer of training.     

Training evaluation: perspectives and evidence from Canada

This article examines the issue of training evaluation in Can‐ada; the difference between what academics have suggested should be done, and what practitioners are actually doing. This article first presents the academic perspective of training evaluation. Then, through a survey, determines how Canadian organisations are evaluating their training programmes, at both the management and non‐management level. The practitioner perspective is presented as a supporting rationale for the survey results. The article provides insight as to how a dialogue between practitioners and academics could lead to more effective and meaningful research and practice.     

Balancing social and political strategies in emerging markets: Evidence from India

This article explores the substitution and complementary effects between political and social strategies on firm performance in the context of an emerging market (EM). Using in‐depth, historical case‐study approach, the article investigates how companies integrate political and social resources in this market. Corporate performance includes traditional measures, such as accounting performance and nonfinancial measures like the ease of doing business. The study finds that social strategies are stronger enablers of firm long‐term performance than political strategies. The latter have a short‐term impact on performance, but their success over time is limited. The main drawback of reliance on political resources in EMs is the lack of political stability, fragmented polity, and weak political coalitions. We identify rather limited evidence of firms using these two strategies as complements. Thus, we suggest that firms should employ both these strategies in the EM.     

Training evaluation in Italian corporate universities: a stakeholder‐based analysis

Corporate universities have emerged as a mechanism for providing companies with a wide variety of training and development activities. They are a recent but under‐researched phenomenon, and given their substantial budgets, it might be expected that they would wish to evaluate what they do. The authors explore the evaluation practices of six Italian corporate universities, paying particular attention to the means by which these practices are tailored to the needs of the various stakeholders. Stakeholder‐based evaluation provides the theoretical framework for the study. The literature suggests that much evaluation of training focuses on a single stakeholder, the shareholder, and that practice draws heavily on Kirkpatrick's hierarchical model. In the context of the corporate university, however, the authors find that multi‐stakeholder evaluation is used in practice. Moreover, various aspects of corporate university performance were evaluated, and data were supplied to stakeholders depending on the nature of their involvement. Stakeholder‐based evaluation is argued to be a useful framework where there are a number of stakeholders, but training evaluation models other than the hierarchical one are needed if all relevant training factors are to be evaluated. The implications for research and practice are discussed.     

Exploring consumer knowledge structures using associative network analysis

This paper offers a new perspective on consumer knowledge analysis that combines Human Associative Memory (HAM) models from cognitive psychology with network analytic approaches in order to gain deeper insights into consumers” mental representations, such as brand images. An illustrative case study compares the associative networks of a manufacturer brand with a retail brand and is used to demonstrate the application and interpretation of various network measures. Network analysis is conducted on three levels: Node‐level analysis yields insights about salient brand image components that can be affected through short‐term marketing activities. Group‐level analysis is concerned with brand image dimensions that characterize a brand and can be strategically influenced in the medium term. Finally, network‐level analysis examines the network structure as a whole, drawing parallels to brand imagery, which needs to be managed over the long term. Management implications are derived and suggestions for further research are provided. © 2010 Wiley Periodicals, Inc.     

USING WAREHOUSE WORKFORCE FLEXIBILITY TO OFFSET FORECAST ERRORS

The impact of forecast errors on organizational cost, and the usefulness of worker flexibility measures in offsetting their negative effects were evaluated in a labor intensive warehouse environment. Unlike past studies measuring forecast error in terms of forecast standard deviation, this study also considers the impact of forecast bias, which occurs when the mean of the error distribution is non‐zero. Results indicate that forecast bias is more damaging to warehouse cost, compared to forecast standard deviation. Workforce flexibility measures, such as worker cross‐training and proportion of full and part‐time labor, provide a solid buffer against forecast standard deviation. However, they are much less effective against forecast bias. This has important managerial implications as a large portion of forecast bias is managerially introduced.     

A two‐mean reverting‐factor model of the term structure of interest rates

This article presents a two‐factor model of the term structure of interest rates. It is assumed that default‐free discount bond prices are determined by the time to maturity and two factors, the long‐term interest rate, and the spread (i.e., the difference) between the short‐term (instantaneous) risk‐free rate of interest and the long‐term rate. Assuming that both factors follow a joint Ornstein‐Uhlenbeck process, a general bond pricing equation is derived. Closed‐form expressions for prices of bonds and interest rate derivatives are obtained. The analytical formula for derivatives is applied to price European options on discount bonds and more complex types of options. Finally, empirical evidence of the model's performance in comparison with an alternative two‐factor (Vasicek‐CIR) model is presented. The findings show that both models exhibit a similar behavior for the shortest maturities. However, importantly, the results demonstrate that modeling the volatility in the long‐term rate process can help to fit the observed data, and can improve the prediction of the future movements in medium‐ and long‐term interest rates. So it is not so clear which is the best model to be used. © 2003 Wiley Periodicals, Inc. Jrl Fut Mark 23: 1075–1105, 2003     

Training professionals' usage and understanding of Kirkpatrick's Level 3 and Level 4 evaluations

Training professionals have long acknowledged the necessity of conducting behavior‐based (Level 3) and results‐based (Level 4) evaluations, yet organizations do not frequently conduct such evaluations. This research examined training professionals' perceptions of the utility of Level 3 and Level 4 evaluations and the factors that facilitate or obstruct their attempts to perform them. The research was conducted using Brinkerhoff's Success Case Method and Gilbert's Behavior Engineering Model as its frameworks. The three key factors identified by study participants as having an impact upon their ability to conduct Level 3 and Level 4 evaluations were the availability of resources such as time and personnel, managerial support (organizational) and expertise in evaluative methodology (individual). The research findings indicated a need to further explore how training professionals interpret Level 3 and Level 4 and how they can better develop their evaluative expertise, which in turn may increase effectiveness in gaining organizational support for evaluation efforts.     

Factors influencing the acceptance of web‐based training in Malaysia: applying the technology acceptance model

Companies in Malaysia are beginning to use web‐based training to reduce the cost of training and to provide employees with greater access to instruction. However, some people are uncomfortable with technology and prefer person‐to‐person methods of training. This study examines the acceptance of web‐based training among a convenience sample of 261 employees in Malaysia using the technology acceptance model. The research uses a self‐developed questionnaire with a five‐point Likert scale. The findings reveal that Malaysian employees accept web‐based training to some extent, despite their weak use of the Internet. Perceived ease‐of‐use, perceived comfortableness and perceived usefulness are found to be positively related to the respondents’ attitude towards adopting web‐based training. These findings mirror Western studies and suggest that the technology acceptance model, developed in the West, is also applicable in Malaysia. The implications of the study and future research directions are discussed.     

Employer training in Australia: current practices and concerns

This paper presents and analyses results from a research project on current trends in employer training in Australia. While the formal vocational education and training (VET) system is well‐researched, the everyday training that happens in workplaces is relatively under‐researched in Australia. Using some of the results of an employer survey undertaken in 2015, the paper describes and analyses employer‐based training across a range of industry areas. The survey included groups of questions on a range of matters, including the reasons why employers train, and how these relate to employers’ perceptions of their operating environment, and the structures they have in place to manage and organize training. Detailed data are provided about three specific forms of training: in‐house training and learning; the use that employers make of external providers of training; and employers’ use of nationally recognised training – training from the VET system. Finally the paper reports what managers said about the barriers to providing more training. The paper analyses the findings in relation to the literature and also identified changes over time in training practices in Australian companies. Implications for training policy and practice, as well as for future research, are identified.     

Employee post‐training behaviour and performance: evaluating the results of the training process

Despite the fact that firms invest in training, there is considerable evidence to show that training programmes often fail to achieve the intended result of improving worker and organization performance. The purpose of this paper is to examine the medium‐ to long‐term effects of training programmes on firms by means of an integrated research model combining the principal factors that the existing literature has shown to be related to training transfer and also by examining the relationship between training transfer and operational performance. The transfer factors chosen are training design, trainee self‐efficacy and work environment. The validity of this model is tested by applying the structural equation modelling approach to data from 126 employees who have participated in various training programmes in a number of Greek organizations. The results indicate that the design of a training programme has the strongest impact on post‐training job performance, along with trainees' self‐efficacy and post‐training behaviour.     

Evaluating the contribution of competency‐based training: an enterprise perspective

The article reports the findings of a national evaluation study conducted in 1998 of the contribution of competency‐based training (CBT) to outcomes in vocational education and training in Australia. The study found that CBT has made significant contributions to employers, its main benefit being that learning can be achieved on‐the‐job. Thus the key advantage for enterprises is relevant training where relevance means ‘specific skills for specific jobs’. The conclusion is drawn that three key issues in relation to the practice of competency training in Australia need to be addressed: (i) recognition of the role of the expert practitioner in augmenting, and thus improving, CBT; (ii) recognition of the limitations of CBT with regard to the provision of knowledgeable skill; and (iii) recognition of the importance of defining learning in terms of outcomes and process.     

Is the US Dollar a Suitable Anchor for the Newly Proposed GCC Currency?

Responses of inflation and non‐oil output growth from the Gulf Cooperation Council (GCC) countries to monetary policy shocks from the United States (US) were estimated to determine whether there is evidence to support the US dollar as the anchor for the proposed unified currency. A structural vector autoregression identified with short‐run restrictions was employed for each country with Fed funds rate as the US monetary policy instrument, non‐oil output growth and inflation. The main results suggest that for inflation, the GCC countries show synchronised responses to monetary policy shocks from the US which are similar to inflation in the US, and for non‐oil output growth, there is no clear indication that US monetary policy can be as effective for the GCC countries as it is domestically. Consequently, importing US monetary policy via a dollar peg may guarantee only stable inflation for the GCC countries – not necessarily stable non‐oil output growth. If the non‐oil output response is made conscientiously – and there are concerns over the dollar’s ability to perform its role as a store of value – a basket peg with both the US dollar and the euro may be a sound alternative as confirmed by the variance decomposition analysis of our augmented SVAR with a proxy for the European short‐term interest rate.