Downsizing and the changing role of HR

This paper examines the changing role of HR in the specific context of downsizing. It highlights the key dilemmas facing HR professionals - on the one hand, the contribution of HRM to the achievement of business results has come under increasing scrutiny and, on the other hand, most of the challenges of downsizing are people-related issues that require sophisticated HR interventions. The paper reports the key findings of a pilot study conducted in sixty organizations in the UK that downsized in the last three years. The key conclusion of the study is that the role of HR has become wide ranging, covering the strategic as well as implementation aspects. The clear message from the study suggests that, unless there is alignment between the two aspects, the envisaged benefits of downsizing are unlikely take place. Key challenges facing HR professionals are managing middle managers, managing careers and managing employee expectations. There are indications to suggest that the process role of HR is likely to become more important in the medium and longer terms.     

Flexible Working Practices In the Public,Not-For-Profit and Commercial Leisure Sectors In SCotland

Public sector leisure managers in the UK have been struggling, since the extension of compulsory competitive tendering to leisure management in 1989, to reconcile the conflicts between becoming more consumer led and satisfying the needs of the ‘recreationally deprived’. Rationalization has ensured that a fundamental priority for managers has been the introduction of more cost-effective working practices. This article examines the diversity in employment practices across the three sectors of the leisure industry, that is, the public, not-for-profit and private sectors. The case study evidence presented found clear differences between the sectors. Although managers in not-for-profit leisure facilities have more freedom to use greater flexibility in employment practices as compared with their public sector counterparts, they are still somewhat constrained by having to meet the social objectives set by their Board of Directors. Private sector managers were found to be providing the highest proportion of full-time jobs, although they offered lower conditions of employment. This was made possible by the funding certainties created by regular monthly/annual customer memberships.     

Sociomateriality — taking the wrong turning? A response to Mutch

In responding to Mutch's (2013) commentary on sociomateriality, our aim is to reassert a well-established tradition of plurality in theoretical approaches in information systems and organization research. We challenge his critique by proxy and exclusionary discourse in favour of identifying commonalities and mutuality among theories that explore subtle realism. Further, we maintain that ruling out novel perspectives and stifling innovation is likely to undermine any field of study. If there is a measure of healthy scholarship then it is surely our capacity to sustain the conditions that foster openness and experimentation in the framing and doing of our research endeavors.     

Multidimensional quasi-Monte Carlo Malliavin Greeks

The aim of this paper is extensively investigate the performance of the estimators for the Greeks of multidimensional complex path-dependent options obtained by the aid of Malliavin Calculus. The study analyses both the computation effort and the variance reduction in the Quasi-Monte Carlo simulation framework. For this purpose, we adopt the approach employed by Montero and Kohatsu-Higa to the multidimensional case. The multidimensional setting shows the convenience of the Malliavin Calculus approach over different techniques that have been previously proposed. Indeed, these techniques may be computationally expensive and do not provide enough flexibility for variance reduction. In contrast, the Malliavin approach provides a class of functions that return the same expected value (the Greek) with different accuracies. This versatility for variance reduction is not possible without the use of the generalized integral by part formula of Malliavin Calculus. In the multidimensional context, we find convenient formulas that permit to improve the localization technique, introduced in Fournié et al. and reduce both the computational cost and the variance. Moreover, we show that the parameters for the variance reduction can be obtained on the flight in the simulation. We illustrate the efficiency of the proposed procedures, coupled with the enhanced version of Quasi-Monte Carlo simulations as discussed in Sabino, for the numerical estimation of the Deltas of call, digital Asian-style and exotic basket options with a fixed and a floating strike price in a multidimensional Black-Scholes market. Given the fact that the gammas of a call option coincides, apart from a constant, with the deltas of digital options, this setting also covers the analysis of formulas tailored for the second order Greeks of call options.     

The Eyes Have It: How a Car's Face Influences Consumer Categorization and Evaluation of Product Line Extensions

This research focuses on a previously unexamined risk associated with the widely used new product development strategy of line extensions. Specifically, it explores consumer reactions when line extensions become too visually similar and examines both short‐term and longer term strategies for solving the problem. Examined in the context of consumer durables, specifically, automobiles, the results show that consumers who make categorization mistakes when trying to distinguish between two visually similar product lines have more negative attitudes not only toward the product but also toward the parent brand. The results of Study 1 confirm that providing a design vocabulary that articulates the car's design features is effective in reducing consumer's categorization mistakes. In addition, results of Study 2 indicate that changes to the car's “eyes” (headlights) are more effective than changes to the car's “mouth” (grille) in helping consumers to differentiate among cars in the line.     

FOREIGN EXCHANGE RATES AND FOREIGN DIRECT INVESTMENT IN THE UNITED STATES

The hypothesis that foreign direct investment into the United States responds to variations in exchange-rate levels and to exchange-rate uncertainty is tested for the period 1976-1998. We account for nonstationarity and cointegration in the data series and use conditional measures of exchange-rate uncertainty. While a long-run relationship exists among foreign direct investment in-flows as a share of GNP, the real exchange rate, and the GARCH measure of exchange-rate volatility, we find no discernible link between the real exchange rate and inward foreign direct investment in the short run. We also conclude that foreign direct investment decreases in response to increases in exchange-rate uncertainty in the short run when we use a conditional measure of exchange-rate uncertainty.     

Strategy–organization configurations in corporate venture units: Impact on performance and survival

We develop a typology of corporate venture units, based on their strategic role in the corporation, and specifically on (a) their relative emphasis on exploration versus exploitation and (b) the internal versus external locus of opportunity they pursue. Following configurations logic, we argue that the structures and systems used by venture units will be a function of their strategic role, and that their performance will be higher when internal elements are aligned. We also argue that exploitation-oriented units will survive for longer than exploration-oriented units. Using primary data collected on 95 venture units during 2001–2003, we use configurational analyses to test and find support for our hypotheses.     

Purchase Intentions and the Dimensions of Innovation: An Exploratory Model

The ultimate success of new product R&D depends as much on customer acceptance as on technological breakthroughs. In this article, Susan Holak and Donald Lehmann focus on customer acceptance by exploring the manner in which the general attributes of Rogers (relative advantage, compatibility, complexity, divisibility and communicability) plus perceived risk combine to form the intention to buy an innovation. Results demonstrate a causal structure among these attributes and lead to various implications for R&D guidelines and product design.