Teamwork skill assessment: Development of a measure for academia

Popular teamwork assessments have been strongly criticized on the grounds of poor psychometric properties and their disconnect with conceptual models of teamwork. These issues raise concerns with respect to our ability to evaluate efforts devoted to advancing teamwork in academia. We report the development of a teamwork assessment that builds on empirically supported conceptualizations of team processes. Two studies were conducted to test and to cross-validate the psychometrics of the resulting measure. In the discussion section, we address the implications of our findings for conceptual models of teamwork and provide guidelines for using the measure in business education.     

Prediction regions for interval-valued time series

We approximate probabilistic forecasts for interval-valued time series by offering alternative approaches. After fitting a possibly non-Gaussian bivariate vector autoregression (VAR) model to the center/log-range system, we transform prediction regions (analytical and bootstrap) for this system into regions for center/range and upper/lower bounds systems. Monte Carlo simulations show that bootstrap methods are preferred according to several new metrics. For daily S&P 500 low/high returns, we build joint conditional prediction regions of the return level and volatility. We illustrate the usefulness of obtaining bootstrap forecasts regions for low/high returns by developing a trading strategy and showing its profitability when compared to using point forecasts.     

Customer Participation Behavior in High- Versus Low-Contact Services: The Multiple Roles of Customer Trust

ABSTRACT

In light of the changing roles of customers from service co-producer to value co-creator, the customer participation literature has conceptualized two types of participation behavior: co-production and value co-creation. However, there is a dearth of knowledge concerning both the antecedents of customer co-creation behavior and the outcomes of such behavior in relation to customer-perceived value and loyalty. Anchored in the trust-commitment theory, the present research (a) examines the effect of how a customer's trust in the service personnel could affect his/her cooperative behavior over the service design and delivery processes; and (b) investigates how the potential impact of a customer's trust in service personnel on his/her co-design and co-delivery behavior could be made contingent upon the customer's trust in the service brand and the types of high- versus low-customer-contact service contexts. Filling the aforementioned research gaps, the present research contributes to advance our knowledge of the roles played by trust at different levels of analysis in facilitating customer participation behavior and improving our appreciation of the customer contact service contexts when designing the service organization for maximizing service value and sustaining brand loyalty over time.     

Fit for addressing grand challenges? A process model for effective accountability relationships within multi-stakeholder initiatives in developing countries

Business is expected to contribute to grand challenges (GC) such as poverty within their corporate social responsibilities. Multi-stakeholder initiatives (MSIs) have developed to a popular governance model to address GC. While existing scholarship has discussed the positive and negative aspects of MSIs, we know relatively little about how corporations within MSIs are held accountable. The objective of the study is to analyze the dynamics of accountability relationships between the corporate actor and the accountability forum to conceive a process model for effective accountability relationships in developing countries. We conducted an inductive study which explored the tensions the accountability forum perceives in MSI accountability relationships and the criteria to meet the forum's accountability claims. Our study identified four accountability criteria: transparency, inclusion, procedural fairness, and efficacy. Our main theoretical claim is that considering the four accountability criteria in the process of facilitating, dialoguing, and evaluating allows affected stakeholders to validate and match legitimacy claims with their own expectations, and thus, manage MSIs more effectively. Our contribution to existing scholarship on MSIs in developing countries is that we offer a novel perspective on analyzing the effectiveness of MSIs to address GC through our focus on one element of MSIs––specifically accountability. Beyond academic theorizing, this perspective may well hold value for nongovernmental organizations, policymakers, and business managers as it advances a concept of responsibility based on a set of accountability criteria which have the potential to become a cornerstone for how MSI members can organize to effectively address GC in developing countries.     

The role of intellectual capital in the success of new ventures

Identifying the factors that contribute to the success of new ventures is a difficult and challenging task. In that respect, this paper proposes an analysis of the intellectual capital within new business ventures. Based on the study of a sample of 130 new companies, for the purpose of this work we have analysed the influence of the proposed intangible assets on the success of newly-created organizations, acknowledging the key role of the human and relational capital in the first few years of the life of the business.     

The Impact of Relational Capital on the Success of New Business Start‐Ups

This study seeks to highlight the key role played by relational capital in new business start‐ups. Following a review of previous research examining the success factors of new ventures and the role played by intellectual capital, our study sets out to achieve this objective by analyzing the impact of a set of intangible relational assets on the initial success of new business start‐ups. Based on a study of 130 firms, we analyzed six hypotheses regarding the possible positive relationship between the relational capital of a start‐up company and its success in its first few years of business.     

Pricing a Heterogeneous Portfolio Based on a Demand Function

Abstract

Consider a portfolio containing number of risk classes. Each class has its own demand function, which determines the number of insureds in this class as a function of the premium. The insurer determines the premiums based on the number of insureds in each class. The “market” reacts by updating the number of the policyholders, then the insurer updates the premium, and so on. We show that this process has an equilibrium point, and then we characterize this point.