Retraction: ‘Effects of Anonymous Whistle‐Blowing and Perceived Reputation Threats on Investigations of Whistle‐Blowing Allegations by Audit Committee Members’ by Hunton,J.E. and Rose,J.M.

The above article, published online on 24 February 2010 in Wiley Online Library ( www.wileyonlinelibrary.com ) has been retracted by agreement between Jacob Rose; the General Editor, Bill Harley; and John Wiley & Sons, Ltd. The institution of the first‐named author, Bentley University, has conducted investigations that find compelling evidence that Dr. Hunton fabricated data in two other studies without the knowledge of his coauthors. The data for this article were generated by Dr. Hunton, and he did not provide evidence to support the validity of these data upon request. Based on the lack of supporting evidence from Dr. Hunton, the validity of the data cannot be confirmed. The article has been retracted to correct the academic literature and maintain standards of academic integrity. REFERENCE Hunton, J. E. and Rose, J. M. (2011). ‘Effects of Anonymous Whistle‐Blowing and Perceived Reputation Threats on Investigations of Whistle‐Blowing Allegations by Audit Committee Members’. Journal of Management Studies, 48 , 75–98. doi: 10.1111/j.1467-6486.2010.00934.x .     

Top finance journals: Do they add value?

This paper develops a methodology for determining the value added by journals to articles they publish and uses this methodology to study five leading finance journals in the period 1990 through 2002. The quality of an article is disaggregated into two components—a component inherent to the article and a component added by the journal. Inherent article quality is proxied by author reputation and the reputation of the author's school, while journal value added is proxied by editorial board quality, journal age, and journal readership characteristics. Our Tobit regression analysis results show that theJournal of Finance, theJournal of Financial Economics, and theReview of Financial Studies add significant value over and above inherent article quality.     

The State of Leadership Studies

This article begins a symposium in the Journal of Leadership Studies on the subject of a formal review process for academic programs in leadership studies. The authors argue that such a process would be a way for the field to achieve more legitimacy in higher education, establish itself as a discipline, and delineate parameters of its intellectual distinctiveness. In so doing, the authors present a brief history of the development of leadership studies literature, a central question to theory building and program development, and common goals pursued by academic programs in leadership studies. Finally, the authors call for the development of standards that can help leadership programs expand their curricular and cocurricular initiatives to reflect the intellectual maturity of the field.     

JMS at 50: Trends over Time

We present an analysis of the articles published in the Journal of Management Studies since its inception to assess to what extent JMS has: maintained its leading international ranking; maintained its founding mission as a broad based management journal; and remained a broad based management journal compared to other general management journals. In terms of its impact factor and citations despite reaching a low point in 2001, we find that JMS today ranks higher than it has ever done throughout its 50‐year history. From our content analysis covering the life‐cycle of JMS, we find four areas have been the most frequently represented, although their relative importance varies between decades: Organizational Management/Behaviour, Strategy, Human Resource Management, and General Management, accounting for 67 per cent of articles published over the period. JMS has strengthened its international author distribution through the increase in authors from the EU especially; the period 2000–04 which saw the predominance of UK authors was an anomaly. There are marked differences between type of article and author country of origin. Our comparative analysis of the word networks between the journals JMS, AMJ, ASQ, and HRM shows that over each decade the papers in the first three normally form a single cluster, indicating that the words used in the papers in the different journals are similar, while papers from HRM often form an outlining group. Notably, in the early 2000s papers in JMS form a distinct cluster, with papers from HRM paralleling the anomaly identified in the content analysis. Overall, JMS has regained its distinctiveness as a broad‐based international management journal, not favouring any particular theoretical or empirical approach.     

Lag Order and Critical Values of the Augmented Dickey–Fuller Test: A Replication

This paper replicates Cheung and Lai (Journal of Business and Economic Studies 1995; 13(3): 277–280), who use response surface analysis to obtain approximate finite‐sample critical values adjusted for lag order and sample size for the augmented Dickey–Fuller test. We obtain results that are quite close to their results. We provide the Ox source code. We also provide a Windows application with a graphical user interface, which makes obtaining custom critical values quite simple. Copyright © 2015 John Wiley & Sons, Ltd.     

Editor's note

We are very excited about this issue of the Journal. It inaugurates a new alliance among the University of Michigan, John Wiley & Sons, and the Society for Human Resource Management. For 34 years, the University of Michigan has had editorial responsibility for Human Resource Management; for the last 12 years Michigan and Wiley have partnered in publishing the Journal. Beginning with this issue, the Society for Human Resource Management (SHRM) will join us to edit, publish, and distribute the Journal; Michigan will continue to take editorial leadership. With an outstanding Managing Editor (Gerry Lake); prominent Associate Editors, (Dick Beatty, Sharon Lobel, Craig Schneier, Arthur Yeung, and K. Michele Kacmar), and a world-class Editorial Board, the Journal will continue to push frontiers of HR theory, research, and practice. Wiley will continue to offer publishing expertise, and SHRM brings to this alliance the world's largest association of HR professionals (over 70,000 members). SHRM also, through its foundation, has a commitment to theory and research which further the profession of HR.     

MODEL PRIORS REVISITED: INTERACTION TERMS IN BMA GROWTH APPLICATIONS

This paper provides a sensitivity analysis on the prior choice for interaction terms for the results of Masanjala and Papageorgiou (Rough and lonely road to prosperity. Journal of Applied Econometrics 2008; 23 : 671–682), which has been criticized for its implementation of interaction terms by Crespo Cuaresma (How different is Africa? Journal of Applied Econometrics 2011; 26 : 1041–1047). We find that the discussed priors have similar predictive power and we also evaluate alternative prior solutions that account for the special nature of interaction terms. Copyright © 2013 John Wiley & Sons, Ltd.     

How different is Africa? A comment on Masanjala and Papageorgiou

Masanjala and Papageorgiou (Rough and lonely road to prosperity: a reexamination of the sources of growth in Africa using Bayesian model averaging, Journal of Applied Econometrics 2008; 23 (5): 671–682) use Bayesian model averaging to evaluate the existence of parameter heterogeneity between African and non‐African countries in the framework of cross‐country growth regressions. We show that their results are not robust to the use of a prior over the model space that respects the strong heredity principle put forward by Chipman (Chipman HA. 1996. Bayesian variable selection with related predictors. Canadian Journal of Statistics 24 : 17–36) for models including interaction terms. Copyright © 2010 John Wiley & Sons, Ltd.     

Income and Democracy: A Smooth Varying Coefficient Redux

Acemoglu et al. (American Economic Review 2008; 98 : 808–842) find no effect of income on democracy when controlling for fixed effects in a dynamic panel model. Work by Moral‐Benito and Bartolucci (Economics Letters 2012; 117 : 844–847) and Cervellati et al. (American Economic Review 2014; 104 : 707–719) suggests that the original model might have been misspecified and proposes alternative specifications instead. We formally test these parametric specifications by implementing Lee's (Journal of Econometrics 2014; 178 : 146–166) dynamic panel test of linear parametric specifications against a general class of nonlinear alternatives robustly and reject all these specifications. However, using a more flexible model proposed by Cai and Li (Econometric Theory 2008; 24 : 1321–1342) we find that the relationship between income and democracy appears to be mediated by education, but results are not statistically significant. Copyright © 2016 John Wiley & Sons, Ltd.     

Retraction

The following article from Human Resource Management Journal: The impact of development and information sharing practices on employee retention‐related attitudes: exploring the mediating role of organisational trust by Sylvie Guerrero and Olivier Herrbach, published online on 28 December 2009 in Wiley Online Library ( http://www.onlinelibrary.wiley.com ), has been retracted by agreement between the authors, the journal Editors in Chief, David Collings, Tony Dundon and Michael Marchington and Blackwell Publishing Ltd. The retraction has been agreed due to overlap between this article and the following article published in ‘Relations Industrielles: La confiance organisationnelle au coeur de l'échange social : et si bien traiter ses employés était payant?’ by Sylvie Guerrero and Olivier Herrbach. Contact: Professor Olivier Herrbach, Université de Bordeaux and ESC Rennes School of Business, Institut d’Administration des Entreprises, 35 Avenue Abadie, 33072 Bordeaux Cedex, France. Email: olivier.herrbach@u‐bordeaux4.fr Reference: Guerrero, S. and Herrbach, O. (2011), Retracted: The impact of development and information sharing practices on employee retention‐related attitudes: exploring the mediating role of organisational trust. Human Resource Management Journal. doi: 10.1111/j.1748‐8583.2009.00119.x     

GMM with many weak moment conditions: Replication and application of Newey and Windmeijer (2009)

In a recent article Newey and Windmeijer (Generalized method of moments with many weak moment conditions. Econometrica 2009; 77 (3): 687–719) propose a new variance estimator for generalized empirical likelihood. In Monte Carlo examples they show that t‐statistics based on the new variance estimator have nearly correct size. I have replicated their Monte Carlo simulations and in addition used the new variance estimator to re‐estimate Angrist and Krueger's (Does compulsory school attendance affect schooling and earnings? Quarterly Journal of Economics 1991; 106 (4): 979–1014) returns to education. Copyright © 2011 John Wiley & Sons, Ltd.     

Combining Time Variation and Mixed Frequencies: an Analysis of Government Spending Multipliers in Italy

In this paper, we propose a time‐varying parameter vector autoregression (VAR) model with stochastic volatility which allows for estimation on data sampled at different frequencies. Our contribution is twofold. First, we extend the methodology developed by Cogley and Sargent (Drifts and volatilities: monetary policies and outcomes in the post WWII U.S. Review of Economic Studies 2005; 8 : 262–302) and Primiceri (Time varying structural vector autoregressions and monetary policy. Review of Economic Studies 2005; 72 : 821–852) to a mixed‐frequency setting. In particular, our approach allows for the inclusion of two different categories of variables (high‐frequency and low‐frequency) into the same time‐varying model. Second, we use this model to study the macroeconomic effects of government spending shocks in Italy over the 1988:Q4–2013:Q3 period. Italy—as well as most other euro area economies—is characterized by short quarterly time series for fiscal variables, whereas annual data are generally available for a longer sample before 1999. Our results show that the proposed time‐varying mixed‐frequency model improves on the performance of a simple linear interpolation model in generating the true path of the missing observations. Second, our empirical analysis suggests that government spending shocks tend to have positive effects on output in Italy. The fiscal multiplier, which is maximized at the 1‐year horizon, follows a U‐shape over the sample considered: it peaks at around 1.5 at the beginning of the sample; it then stabilizes between 0.8 and 0.9 from the mid 1990s to the late 2000s, before rising again to above unity during the recent crisis. Copyright © 2015 John Wiley & Sons, Ltd.     

CORPORATE CULTURE AND MORALITY: DURKHEIM-INSPIRED REFLECTIONS ON THE LIMITS OF CORPORATE CULTURE

In the May 1986 issue of Journal of Management Studies, Ray argued that Corporate Culture protagonists have stumbled upon the central ideas of the classical sociologist Durkheim, especially those concerning morality. However, this article demonstrates important differences between corporate culture discourse and the Durkheimian concept of morality. Durkheim's views on moral autonomy, his diagnosis of the problematic nature of modern utilitarian values and his insistence on society as the source and the goal of morality are applied as a frame of reference that allows an identification, analysis and discussion of problematic assumptions about man, organization and society in corporate culture discourses. On this basis, the article discusses the relatively limited fulfilment of the promises issued by corporate culture protagonists, which can be observed by reflecting on the past decade, as well as some alternative ideas for organizational culture practitioners and researchers.     

Journal Impact as a Diffusion Process: A Conceptualization and the Case of the Journal of Management Studies

While the question of what makes a journal impactful continues to draw scholarly attention and debate, the lack of conceptual foundation as to what journal impact represents, and how it manifests itself, has impeded efforts to establish a richer understanding. Drawing from the theory of innovation diffusion, we propose journal impact as a multidimensional concept manifested most prominently in the magnitude, prestige, breadth, dispersion, and duration dynamics of citations accruing to a journal. In doing so, we complement extant representations of journal impact as a unidimensional concept with insights into the pattern and profile of a journal impact across space and time. We illustrate the multidimensionality of journal impact as a diffusion process in a longitudinal analysis of citation patterns at the Journal of Management Studies over a 40‐year period.     

Panicca: Panic on Cross‐Section Averages

The cross‐section average (CA) augmentation approach of Pesaran (A simple panel unit root test in presence of cross‐section dependence. Journal of Applied Econometrics 2007; 22 : 265–312) and Pesaran et al. (Panel unit root test in the presence of a multifactor error structure. Journal of Econometrics 2013; 175 : 94–115), and the principal components‐based panel analysis of non‐stationarity in idiosyncratic and common components (PANIC) of Bai and Ng (A PANIC attack on unit roots and cointegration. Econometrica 2004; 72 : 1127–1177; Panel unit root tests with cross‐section dependence: a further investigation. Econometric Theory 2010; 26 : 1088–1114) are among the most popular ‘second‐generation’ approaches for cross‐section correlated panels. One feature of these approaches is that they have different strengths and weaknesses. The purpose of the current paper is to develop PANICCA, a combined approach that exploits the strengths of both CA and PANIC. Copyright © 2015 John Wiley & Sons, Ltd.     

How to use interaction terms in BMA: Reply to Crespo Cuaresma's comment on Masanjala and Papageorgiou (2008)

Jesus Crespo Cuaresma (How different is Africa? A comment on Masanjala and Papageorgiou. Journal of Applied Econometrics, 2011) shows that the results in Masanjala and Papageorgiou (Rough and lonely road to prosperity: a reexamination of the sources of growth in Africa using Bayesian model averaging. Journal of Applied Econometrics 2008; 23 (5): 671–682) are sensitive to an alternative prior model structure in considering interaction terms. As a side issue, the algorithm for averaging over models is also challenged. In this reply I show that the prior used in Masanjala and Papageorgiou is as sensible as the prior suggested by Crespo Cuaresma. What we learn from Crespo Cuaresma's comment and this reply is that further effort should be dedicated to the study of parameter heterogeneity in the framework of BMA methods. Copyright © 2011 John Wiley & Sons, Ltd.     

Contextual and Interactional Approaches to Advancing Leadership and Entrepreneurship Research

In this introductory article for the special issue of Journal of Management Studies, entitled ‘Leading Entrepreneurial Ventures: Individual and Team-Based Perspectives’, we leverage insights in the extant literature as well as those insights developed by the authors of the four articles published in response to our call for papers. Overall, we explore multiple nuanced questions with regards to research on entrepreneurship, research on leadership, and their intersection. Our goal is to begin to help guide research on entrepreneurship and leadership, and their intersection, for the next decade.     

Trend and Initial Condition in Stationarity Tests: The Asymptotic Analysis

In this article, we investigate the behaviour of stationarity tests proposed by Müller [Journal of Econometrics (2005) Vol. 128, pp. 195–213] and Harris et al. [Econometric Theory (2007) Vol. 23, pp. 355–363] with uncertainty over the trend and/or initial condition. As different tests are efficient for different magnitudes of local trend and initial condition, following Harvey et al. [Journal of Econometrics (2012) Vol. 169, pp. 188–195], we propose decision rule based on the rejection of null hypothesis for multiple tests. Additionally, we propose a modification of this decision rule, relying on additional information about the magnitudes of the local trend and/or the initial condition that is obtained through pre‐testing. The resulting modification has satisfactory size properties under both uncertainty types.     

On the relationship between product substitutability and tacit collusion

This paper examines the effect of increased product substitutability on quantity‐setting firms’ ability to sustain tacit collusion in a market. It uses a general demand function and the trigger strategy of Friedman (Friedman JW. 1971. A non‐cooperative equilibrium for supergames. Review of Economic Studies 38: 1–12) to show that while increased product substitutability hinders sustainability of tacit collusion in the case of linear and concave demand functions, it may either hinder or facilitate firms’ ability to sustain tacit collusion in the case of convex demand functions. Thus, this paper adds to the growing view that one must use a case‐by‐case analysis in judging whether firms in more homogenous product markets find it easier or harder to tacitly collude. Copyright © 1999 John Wiley & Sons, Ltd.     

Trading Partners and Trading Volumes: Implementing the Helpman–Melitz–Rubinstein Model Empirically

Helpman, Melitz and Rubinstein [Quarterly Journal of Economics (2008) Vol. 123, pp. 441–487] (HMR) present a rich theoretical model to study the determinants of bilateral trade flows across countries. The model is then empirically implemented through a two‐stage estimation procedure. We argue that this estimation procedure is only valid under the strong distributional assumptions maintained in the article. Statistical tests using the HMR sample, however, clearly reject such assumptions. Moreover, we perform numerical experiments which show that the HMR two‐stage estimator is very sensitive to departures from the assumption of homoskedasticity. These findings cast doubts on any inference drawn from the empirical implementation of the HMR model.