Making sense of different perspectives on career transitions: A review and agenda for future research

Although scholars across numerous disciplines have studied specific types of career transitions, there has been no examination of the career transitions literature as a general phenomenon since Louis' seminal article was published four decades ago. Much has changed in the career landscape in the last forty years, including the number and types of career transitions being made by individuals. Using an inductive approach, the five major theoretical perspectives of career stage, decision-making, adjustment, relational, and identity emerged from our analysis of 242 publications. In this paper, we summarize research on each of these major perspectives on career transitions, recognizing emerging trends and research gaps. Based upon an analysis across these perspectives, we recommend seven major avenues for future research on career transitions.     

From Greenwashing to Machinewashing: A Model and Future Directions Derived from Reasoning by Analogy

Journal of Business Ethics - This article proposes a conceptual mapping to outline salient properties and relations that allow for a knowledge transfer from the well-established greenwashing...     

R&D employment effects of financial slack generated by R&D tax exemption: The importance of firm-level contingencies

This paper focuses on R&D employment effects due to financial slack generated by an R&D tax exemption scheme in Belgium. The tax exemption is granted without firm-level requirements, which facilitates testing firm-level contingencies on the influence of the generated financial slack. We find that R&D employment effects increase with the level of the R&D tax exemption related to financial slack resources and that this positive relation is more outspoken for older firms and for firms with an intermediate share of R&D tax exemptions in the overall mix of R&D policy support. No effects are found for firm size and its R&D intensity. These findings suggest targeting the R&D tax exemption support according to firm characteristics to obtain longer term R&D employment effects. The focus on R&D employment adds to the literature on the evaluation of R&D policies which is largely oriented toward R&D expenditure and innovation outputs.     

Female Representation on Corporate Boards in Europe: The Interplay of Organizational Social Consciousness and Institutions

Journal of Business Ethics - We examine the role of alignment between organizational social consciousness and the informal and formal institutions of a country in increasing female representation...     

In Pursuit of Happiness: Disentangling Sustainable Consumption,Consumer Alienation,and Social Desirability

Journal of Consumer Policy - This study makes a novel attempt to disentangle the complex relationships between making sustainable purchasing choices and happiness, while also considering the key...     

The American Inventors Protection Act: A Natural Experiment on Innovation Disclosure and the Cost of Debt

We examine the impact of innovation disclosure through patenting on firms' cost of debt, focusing on the American Inventors Protection Act (AIPA) as an exogenous shock in innovation disclosure regulation. Post‐AIPA, firms have an incentive to apply for patents only if commercial success is likely. Accordingly, we expect post‐AIPA patents to be a better proxy for successful innovation activity, and thus to have a stronger effect on reducing the cost of debt than pre‐AIPA patents. Indeed, we find that pre‐AIPA patents reduce the cost of debt only for the most innovative firms, while post‐AIPA, this effect holds for all firms.     

Capital asset pricing model in Portugal: Evidence from fractal regressions

We examine risk profiles of the Portuguese stock market index component stocks using a novel approach to the classical capital asset pricing model (CAPM). Specifically, we estimate the CAPM via fractal regressions that allow studying the marginal effects at selected scales. In this way, we can reveal whether the risk is perceived differently by market participants with different investment horizons. Apart from the analysis itself, we provide new statistical insights into the issue of separating and comparing the scale-specific effects with statistical validity. We find several stocks deviating from an expected risk perception homogeneity across investment horizons. This is true for both analysed periods, i.e. before and after the global financial crisis. There are also several stocks that changed their relationship to the market portfolio in between, which has strong implications for possible portfolio construction. The proposed methodology is not limited to financial topics but can be used in any discipline where the scale-specific marginal effects might be of interest.     

Analytical approximations of local‐Heston volatility model and error analysis

This paper studies the expansion of an option price (with bounded Lipschitz payoff) in a stochastic volatility model including a local volatility component. The stochastic volatility is a square root process, which is widely used for modeling the behavior of the variance process (Heston model). The local volatility part is of general form, requiring only appropriate growth and boundedness assumptions. We rigorously establish tight error estimates of our expansions, using Malliavin calculus. The error analysis, which requires a careful treatment because of the lack of weak differentiability of the model, is interesting on its own. Moreover, in the particular case of call–put options, we also provide expansions of the Black–Scholes implied volatility that allow to obtain very simple formulas that are fast to compute compared to the Monte Carlo approach and maintain a very competitive accuracy.