No such thing as a global manager

With the continuing growth of globalization, companies need to pay careful attention to selecting and managing people who may become their “global managers.” The best way to achieve this is by coming up with a clear concept of what constitutes such a manager. But the examination of a wide set of possible characteristics indicates that there seems to be no distinct set of such individual qualities, so there is no consistent way to point out what a global manager is. What we are left with is the search for good “conventional” managers with a global mindset who could succeed in the international marketplace.     

How far can a dummy go? or,Are we putting too much of a burden upon political dichotomies?

Previous political models of macroeconomic phenomena have been erroneous due to the interpretations researchers have attached to the political dichotomies specified in their models. It is claimed that direct stimuli interpretations of political nominal scaling misrepresent the true nature of the impact political determinants exert upon macroeconomic endogenous outcomes. Furthermore, it is suggested that a proper specification of an economic phenomenon requires the consideration of both political and economic information. The consideration of political content, given its expectational nature, somewhat bridges the gap between substantive global rationality and procedural bounded rationality theories in economics and political science (as well as cognitive psychology). When a fuller specification is brought to bear, economic determinants play a mixed role in macroeconomic modeling. Such determinants are subject to direct stimuli and expectational information. On the other hand political determinants exert a pure expectational impact upon endogenous economic determinants.     

R&D Reporting Biases and Their Consequences*

The immediate expensing of research and development (R&D) expenditures is often justified by the conservatism principle. However, no accounting procedure consistently applied can be conservative throughout the firm's life. We therefore ask the following questions: (1) When is the expensing of R&D conservative and when is it aggressive, relative to R&D capitaliza‐tion? (2) What are the capital‐market implications of these reporting biases? To address these questions we construct a model of profitability biases (differences between reported profitability under R&D expensing and capitalization) and show that the key drivers of the reporting biases are the differences between R&D growth and earnings growth (momentum), and between R&D growth and return on equity (ROE). Companies with a high R&D growth rate relative to their profitability (typically early life‐cycle companies) report conservatively, while firms with a low R&D growth rate (mature companies) tend to report aggressively under current generally accepted accounting principles. Our empirical analysis, covering the period 1972‐2003, generally supports the analytical predictions. In the valuation analysis we find evidence consistent with investor fixation on the reported profitability measures: we detect undervaluation of conservatively reporting firms and overvaluation of aggressively reporting firms. These misvaluations appear to be corrected when the reporting biases reverse from conservative to aggressive and vice versa. This evidence is consistent with behavioral finance arguments about investor cognitive biases.     

Explaining the Short‐ and Long‐Term IPO Anomalies in the US by R&D

Abstract:   Financial scholars who research the initial underpricing and long‐term underperformance of IPOs generally attribute these phenomena to information asymmetry and investors' misevaluations. Here, we identify, on a sample of 2,696 US IPOs issued during 1980–1995, a widespread source of information asymmetry and valuation uncertainty—the R&D activities of issuers—and document that these activities significantly affect both the initial underpricing of IPOs (R&D is positively correlated with underpricing) and their long‐term performance (R&D is positively related to long‐term performance). Given the pervasiveness and constant growth of firms' R&D activities in modern economies, our identification of R&D as a major factor affecting IPO's performance contributes to the understanding of this important economic and capital market phenomenon.     

Technological Aspects of Project Selection

ABSTRACT Project selection is a process fraught with uncertainties. Technological uncertainty is one of the major contributors to the total risk and its reduction has been a subject of many attempts to provide the decision maker with better decision material.
In the following paper, we summarise three cases representing different technological contents of technology transfer projects. The possible technological changes and the sensitivity of project profitability to them is presented and analysed.
A methodological approach involving convolution of the technological risk into a conventional economical project analysis has been developed and is evaluated in this paper. In particular, the aspect of trimming the analysis procedure into an efficient routine is discussed.     

All for one,one for all: Coopetition and virtual team performance

This study establishes a model based on coopetition theory to explain the formation of team performance in virtual teams. We tested the model in information technology (IT) organizations, and found applicability of coopetition in influencing team performance and knowledge sharing. Knowledge sharing is indirectly influenced by team politics and social capital (i.e., trust, social interaction and shared vision) via the mediation of cooperation and competition, while team performance is indirectly affected by team politics and social capital via the mediation of cooperation, team emotional intelligence and team competence.     

Team learning: The missing construct from a cross-cultural examination of higher education

Team learning should be an important construct in organizational management research because team learning can enhance organizational learning and overall performance. However, there is limited understanding of how team learning works in different cultural contexts. Using an international comparative research approach, we developed a framework of antecedents and outcomes in the higher education context and tested it with samples from the UK and Vietnam. The results show that a common framework is applicable in the two different contexts, subject to slight modifications. However, this study does not find that team learning (measured via the proxy of “attitude towards team learning”) exhibits any statistically significant relationship as a predictor of the proposed outcomes. Other findings from this study on educational contexts are important not only to scholars in this field, but also for practicing managers, particularly those who study and operate in the extensive global market.     

Career management practices: An empirical survey and implications

A key ingredient in the knowledge economy is the development of people's careers. Companies approach career development in a variety of ways. To better understand how these approaches fit together and how they are used to address different situations, the authors surveyed 194 United Kingdom companies and identified five groups of practices. These groups were associated with certain organizational characteristics. Drawing on concepts from the careers literature, the authors suggest a two‐dimensional model to explore how these groups of practices can be systematically understood and applied. © 2000 John Wiley & Sons, Inc.     

分析性叙述:为复杂的历史进程建模

Both research with case and building model are common research ways in social science.They look very different but in deep relation with each other.Unless they integrate together,there isn't a progress of social science.This paper argues the approach systemically,such as content,essence and theoretic shelf,and so on.It also argues that analytic narrative go beyond the old rational choice method and research the special institution in special historic context with game theory.So social science can explain re...     

Becoming a long-distance runner – deriving pleasure and contentment in times of pain and bodily distress

ABSTRACT

This paper indicates the way beginner long-distance runners learn to derive pleasure and contentment (‘runner’s high’) in times of pain and bodily distress. It is based on Becker’s theoretical framework of using marihuana (marijuana) for pleasure. Although pain resulting from long-distance running has been widely explored sociologically, little has been written regarding the process of deriving pleasure from the pain. An ethnographic research design was implemented for three years in two running teams, using a combination of participant observation, semi-structured interviews, and online running websites. Key findings illustrate three coherent stages a novice runner must experience in order to become a long-distance runner and enjoy the pain: (1) learning the proper running technique required to experience positive effects; (2) recognizing the effects of pain and their connection with running; and (3) enjoying the effects of pain caused by running. The paper highlights the way feeling high from long-distance running can be achieved through a process of socialization conveyed by the runner’s peer group. Only if novice runners are persistent and capable of interpreting their bodily sensations as a state of pleasure or relaxation will they be able to continue with distance running.