The Doctrine of the Mean: Workplace Relationships and Turnover Intention

The present study examines the curvilinear relationships between LMX/TMX and team members' turnover intention simultaneously. That is, members with high LMX, TMX, or both are more likely to have turnover intention. Hypotheses were tested with a sample of 452 nurses, and we adopted the response surface methodology and polynomial regression to test our theoretical model. The hierarchical regression analysis showed that TMX has a U‐shaped relationship with turnover intention but not with LMX. In addition, the results indicate that both the congruence and incongruence of LMX and TMX result in higher turnover intention, but moderate levels of LMX and TMX have the lowest turnover intention. Strengths, limitations, practical implications, and directions for future research are discussed. Copyright © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

Target‐Setting,Pay for Performance,and Quality Improvement: A Case Study of Ontario Hospitals’ Quality‐Improvement Plans

This study examines whether difficult targets and quality indicators in executives' pay‐for‐performance (P4P) plans affect performance. The impact of target‐setting and P4P plans on quality improvement in the public sector is unclear. The Ontario government initiated the Quality Improvement Plan (QIP), which requires hospitals to set targets for quality indicators annually and link executive pay to target achievement since 2011. Analyzing Health Quality Ontario's database and hospitals' 2012–2013 QIPs, this study shows greater quality improvement in hospitals with difficult targets than hospitals with easy targets or without assigned targets; however, the positive impact disappears for high‐performance hospitals relative to their peers. We find no significant effect of the use of quality indicators in executives' P4P plans on quality improvement. Copyright © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

MEASURING LIMITS OF ARBITRAGE IN FIXED‐INCOME MARKETS

An emerging literature relies on an index of limits of arbitrage in fixed‐income markets. We analyze the benefits of an index that is model‐free, robust, and intuitive. This new index strengthens the evidence that limits of arbitrage proxy for risks priced in the cross‐section of returns. Trading simulations show that the new index improves identification of limits of arbitrage because it bypasses a noisy estimation step. Relative value indices in the United States, United Kingdom, Japan, Germany, Italy, France, Switzerland, and Canada exhibit strong commonality and high correlations with local volatility and funding conditions. The indices are updated regularly and available publicly.     

Bond offerings in China

This study appraises the value created by a bond offering in China, where high levels of state ownership and insider ownership raise concerns about the use of the proceeds. To estimate the impact of a bond issue on the firm's value, we apply an event‐study methodology on a sample of 481 issues of 347 Chinese companies over the period 2009–2013. It turns out that state ownership has a positive impact on the value of a bond offering for shareholders, which is consistent with an implicit guarantee of the issue by the state. For privately owned companies, insider ownership exerts a nonlinear impact on the firm's value, supporting an aligning effect in the use of the proceeds. Overall, the study confirms the key role of ownership structure in Chinese firms.     

Does increased hedging lead to decreased price efficiency? The case of VIX ETPs and VIX futures

We examine the impact of the introduction of VIX exchange‐traded products (ETPs) on the information content and pricing efficiency of VIX futures. We document that trades in VIX futures have become less informative and that pricing errors exhibit more persistence after the introduction of VIX ETPs. In addition, we observe that the price process of the VIX futures has become noisier over time. These findings suggest that the introduction of the VIX ETPs had a prominent effect on the properties and dynamics of the VIX futures.     

Dress for success: the effect of exhibitors’ dress conformity and self-construal on attendees’ approach behavior

ABSTRACT

The purpose of the current study is to investigate how attendees’ approach behavior is influenced by exhibitors’ dress conformity. A 2 × 2 between-subjects quasi-experimental design was utilized for this study. Our results showed that conforming dress for exhibitors can lead to a higher level of approach behavior of trade show attendees as compared with nonconforming dress, and the effect of exhibitors’ dress styles on approach behavior is moderated by attendees’ self-construal. Findings of this study provide significant insights for trade show exhibitors and attendees.     

Mobile Commerce Website Success: Antecedents of Consumer Satisfaction and Purchase Intention

With the rapid development of apparel mobile commerce in the United States, more companies view mobile commerce as a new source of competitive advantage. Despite the importance of apparel mobile website quality and its effect on consumer satisfaction and future purchase stimulus, extant research has paid little attention to these topics. This study proposes a website quality–consumer satisfaction–purchase intention research model based on the self-regulatory process theory. Six dimensions of apparel mobile website quality—website visual appeal, apparel visual appeal, brand trust, website information quality, website response time, and website security—were investigated. In all, 293 eligible responses were collected via an online survey. Multiple regression analysis was utilized to test the proposed relationships. Results reveal that website information quality, website visual appeal, apparel visual appeal, and website security positively affect consumer satisfaction toward apparel mobile commerce websites, while website response time and brand trust show insignificant impacts on consumer satisfaction. With higher satisfaction on an apparel mobile commerce website, consumers are more likely to purchase apparel through the website.     

Poaching and Firm‐Sponsored Training

A series of seminal papers argues that poaching hampers company‐sponsored general training. Empirically, however, the existence and extent of poaching remain open questions. We provide a novel empirical strategy to identify poaching. We find that only few apprenticeship training firms in Germany are ‘poaching victims’ or ‘poaching raiders’. Victims are more likely to be in a temporary downturn and raiders are more likely to be growing. Victims hardly change their training strategy after poaching and poaching seems be a transitory event. This is an important result for countries that intend to introduce apprenticeship‐type training and need to convince firms to participate in training.     

Top executives' perceptions of the inclusion of corporate social responsibility in quality management

Exercise of global responsibility is critical to the future of quality practices in business, and corporate social responsibility (CSR) is relevant to the quality movement. However, not much is known about management perceptions of CSR in the specific context of quality management. This paper examines top executives' views on CSR and quality management implemented through the European Foundation for Quality Management (EFQM) framework. We report the results of a survey of executives in a multinational corporation operating in the outsourcing and technology services industry. The main factors influencing managerial perceptions were value generation, industry forces, institutional and stakeholder pressures, and organizational values and beliefs. In contrast to previous studies, we found limited evidence supporting the influence of shareholder pressures, competition, or the business case for CSR. We concluded that company lifecycle, changes in ownership structure, and owners' orientation toward CSR influenced its potential for adoption through implementation of the EFQM quality framework.