The impact of mandatory IFRS reporting on institutional trading costs: Evidence from Australia

This study examines the impact of mandatory International Financial Reporting Standards (IFRS) on the market quality of the Australian Securities Exchange (ASX) 200 constituent stocks. Using traditional metrics that are consistent with prior literature (i.e., bid‐ask spreads), the first stage analysis confirms that stock liquidity has improved. However, when the analysis is extended to consider the trading costs incurred by market participants (i.e., execution shortfall), results suggest liquidity has not changed significantly. The paper utilizes rich unique datasets that contain detailed trade information, and findings are robust after controlling for trade difficulty and market conditions. In the era of High Frequency Trading (HFT) and occurrences of ‘fleeting’ liquidity, this paper provides some evidence that while IFRS may have enhanced ‘visible’ bid‐ask spreads, tangible liquidity for market participants, particularly global institutional investors, has not improved significantly.     

Sixty years of research on technology and human resource management: Looking back and looking forward

Technology has changed the way we work and how companies manage their employees. This article reviews 60 years of research on the relationship between technology and human resource management, as represented in Human Resource Management. Based on 154 articles, we identify recurring and evolving patterns of research on technology across three time periods (separated by the advent of the personal computer in 1977 and by the popularization of consumer internet services in 1997), three perspectives on technology (tool, proxy, and ensemble view of technology), and three thematic streams (the impact of technology on jobs and organizations, the utilization of technology in HR activities, and the management of technology workers). Drawing on patterns of research that emerged in the past, we provide suggestions for future HR research on newly arriving technology.     

What Caused the Korean Currency Crisis in 1997?*: Weak Fundamentals or Self‐fulfilling Expectations*

The present paper investigates which factor is primarily responsible for the sharp depreciation of the Korean won against the US dollar in 1997, using a bivariate vector autoregressive model of real and nominal exchange rates. In the present study, we directly identify the relative importance of fundamental and non‐fundamental factors from the raw data series on exchange rates. This approach is different from most previous studies on the Korean currency crisis, which use proxy variables to represent the two factors. The empirical results show that the collapse of the Korean currency in 1997 appears to be mostly a result of the weakened macroeconomic fundamentals of the economy with, to a limited extent, some non‐fundamental factors.     

Commonalities and contradictions in HRM and performance research

This is an overview of what the authors believe to be every empirical research article into the linkages between HRM and performance published in pre‐eminent international refereed journals between 1994 and 2003. The analysis covers the design of the study, including the primary level of analysis and the identity of the respondents; the dominant theoretical framework(s) informing the article; how HRM is conceived and operationalised; how performance is conceived and operationalised; and which control and/or contingency variables are incorporated. Finally, the article examines how each study depicts the so‐called ‘black box’ stage between HRM and performance. It reports wide disparities in the treatment of these components, but also some welcome commonalities and indicative trends that point towards a gradual convergence on how future research into this complex relationship might usefully be conducted. The findings are compared with previous reviews of the literature. The analysis should illuminate the ongoing debate about the linkages between HRM and performance, and prove valuable for future research designs.     

Sources of airline productivity from carbon emissions: an analysis of operational performance under good and bad outputs

This study incorporates carbon dioxide emissions in productivity measurement in the airline industry and examines the determinants of productivity change. For this purpose a two-stage analysis under joint production of good and bad outputs is employed to compare the operational performance of airlines. In the first stage, productivity index are derived using the Luenberger productivity indicator. In the second stage, productivity change scores derived therefrom are regressed using the random-effects Generalized Least Squares to quantify determinants of productivity change. The paper finds low cost carriers and average number of hours flown per aircraft having a positive impact on productivity under joint production model while demand variable negatively impacts on productivity under market model.     

Impact of Rebates and Refunds on Contributions to Threshold Public Goods: Evidence from a Field Experiment

We investigate the impact of rebates and refunds on contributions to threshold public goods using evidence from a field experiment conducted in conjunction with an Australian charity, Life Goes On. We find that offering rebates and refunds has a significant positive impact on both participation and average donations in the absence of seed money. Our results suggest that offering rebates and refunds, and the existence of seed money may, to some extent, play substitute roles in encouraging giving behavior. Seed money has a significant positive effect on participation only. Seed money's impact on average donations may be mitigated by a threshold effect.     

When health care workers perceive high-commitment HRM will they be motivated to continue working in health care? It may depend on their supervisor and intrinsic motivation

In this health care field study, we examined the link between human resource management (HRM), transformational leadership, intrinsic motivation and motivation to continue to work. Based on the social exchange theory, we proposed a mediation model linking HRM to motivation to continue to work in health care, via respectively transformational leadership and intrinsic motivation. Results from data collected from 171 employees revealed that transformational leadership and intrinsic motivation mediate the relationship between perceptions of high-commitment HRM and workers’ motivation to continue to work. Practical implications for organizations in health care are discussed.     

Developing a critical view on e‐learning trend reports: trend watching or trend setting?

Trend watching reports are an indispensable resource in the e‐learning domain. Many HRD departments consider these reports as essential cornerstones for the development of their e‐learning strategy. But what is the quality of the forecasts made in these reports? In this article, several methods of forecasting trends are discussed, resulting in a checklist to evaluate the quality of trend studies. Next, this checklist is applied to evaluate some significant trend studies. The evaluation results show that the reports do not meet basic quality criteria, such as ‘sound methodology’ and ‘objectivity’. The article concludes with some critical remarks on the role trend watching reports play in the domain of e‐learning.