Temporary Layoffs and Unemployment in Canada

The importance of temporary layoffs in measured unemployment has not been solidly established empirically. Clark and Summers (1 979) maintain that these separations account for only a small fraction of U.S. unemployment. Administrative data analyzed in this paper show that temporay layoffs are an important feature of the Canadian labor market. Approximately 35 per cent of the variation in the Canadian unemployment rate over time can be accounted for by changes in temporary layoffs and about 45 per cent by variations in all temporary employment separations.     

基于CEO变动调节效应的高管团队特征对企业研发投资及技术创新绩效的影响研究

本文以信息技术业上市公司2011～2014年的数据为样本,运用逐步多元回归分析的方法,通过逐步引入高管团队特征变量、CEO变动变量、CEO变动变量与高管团队特征变量交互项对因变量研发投资及技术创新绩效影响进行了回归分析。结果表明：CEO变动对研发投资和技术创新绩效具有显著的正向相关关系;CEO变动可以部分调节高管团队特征对研发投资和技术创新绩效的影响;高管团队持股与年龄异质性与技术创新绩效显著正相关;两职合一与研发投资显著负相关;任期异质性和教育程度异质性与研发投资显著正相关。     

Downsizing Effects on Survivors: Layoffs,Offshoring, and Outsourcing

In a representative sample of 13,683 U.S. employees, we compared survivors of layoffs, offshoring, outsourcing, and their combinations to a group who experienced no downsizing. Survivors of layoffs perceived lower organizational performance, job security, affective attachment, calculative attachment, and had higher turnover intentions. Offshoring survivors perceived lower performance, fairness, and affective attachment, but outsourcing survivors generally did not have more negative outcomes than the no‐downsizing group. Layoffs generally had more negative outcomes than other downsizing forms.     

The role of CEO relative standing in acquisition behavior and CEO pay

In this study, we develop and test a theory of CEO relative pay standing. Specifically, we propose that CEOs with negative relative pay standing status (underpaid relative to comparison CEOs) will engage in acquisition activity, as a self‐interested means of attempting to realign their pay with that of their peers. We further propose that, when CEOs with negative relative pay standing acquire, they will tend to finance those acquisitions more heavily with stock than cash, to mitigate the risk associated with those deals. Finally, we argue that acquisition activity will partially mediate the influence of CEO negative relative pay standing on subsequent CEO compensation increases; however, that pay growth will come primarily in the form of long‐term incentive pay. Our results support our predictions. Copyright © 2014 John Wiley & Sons, Ltd.     

Worker Turnover, Job Turnover and Collective Bargaining in Spain

This paper analyses the relationship between the presence of organized labour in firms (approximated by the scope of collective bargaining) and the extent of gross worker and job flows. According to the voice theory of Freeman, those firms having a union presence will have lower worker mobility. However, there is no analysis of the effects of the presence of organized labour on gross job flows. Using a Spanish data base, we find evidence of the existence of a voice effect on gross worker flows but not clear support for a voice effect on gross job flows.     

CEO narcissism and myopic management

The current research, leveraging the upper echelons' theory, examines the association between CEO narcissism and firms' myopic management. The study further examines the underlying mediating effect of market orientation in this linkage. Finally, the study examines the moderating effect of the output-oriented board of directors on the indirect effect of CEO narcissism on myopic management, i.e., a moderated-mediation analysis. Data on a sample of 210 Indian firms from 2009 to 2016 suggest that CEO narcissism positively influences the firm's myopic management. Furthermore, market orientation partially mediates the influence of CEO narcissism on myopic management, such that CEO narcissism lowers market orientation. The lesser the market orientation more is myopic management. However, as the output orientation of the board of directors increases, the indirect positive effect of narcissism on myopic management is decreased. Our study shines a light on the antecedents of myopic management and its role as a mediator under the contingency effect of demographics of the board of directors, i.e., the marketing board of directors.     

CEO Share Ownership and Firm Value

This study examines the effect of CEO ownership on firm performance. The findings suggest that CEO ownership and firm performance are jointly determined. Firm performance affects CEO ownership positively and in turn, CEO ownership has a positive effect on firm performance. Our results also show that firms managed by founder CEOs have better performance and that the CEO duality structure is beneficial in a turbulent environment.     

Examining CEO succession and the role of heuristics in early‐stage CEO evaluation

This study develops and tests predictions regarding factors that influence early‐stage CEO evaluation. We suggest that contextual elements of the CEO succession process will influence the heuristics that directors employ to aid in their early evaluation of a CEO because traditional performance metrics, such as firm performance, are less diagnostic of CEO quality in the first years of their tenure. Broad empirical support for our theoretical arguments is shown in a sample of Fortune 1000 firms. Copyright © 2012 John Wiley & Sons, Ltd.     

The effect of CEO pay deviations on CEO withdrawal,firm size,and firm profits

We build upon previous work on the effects of deviations in CEO pay from labor markets to assess how overcompensation or undercompensation affects subsequent voluntary CEO withdrawal, firm size, and firm profitability, taking into account the moderating effect of firm ownership structure. We find that CEO underpayment is related to changes in firm size and CEO withdrawal, and that the relationship between CEO underpayment and CEO withdrawal is stronger in owner‐controlled firms. We also show that when CEOs are overpaid, there is higher firm profitability; a relationship that is weaker among manager‐controlled firms. We then discuss the implications that these findings have for future research. Copyright © 2010 John Wiley & Sons, Ltd.     

CEO founder status and firm financial performance

Founders create their organizations, yet are often expected to eventually become liabilities to these same organizations. Past empirical research on the relationship between CEO founder status (i.e., is the CEO also the founder?) and firm performance has yielded inconsistent results. This study of 94 founder‐ and nonfounder‐managed firms finds that founder management has no main effect on stock returns over a 3‐year holding period, but that firm size and firm age moderate the CEO founder status–firm performance relationship. Copyright © 2000 John Wiley & Sons, Ltd.     

The strategic value of CEO external directorate networks: implications for CEO compensation

This study examines the relationship between CEO external directorate networks and CEO compensation. Drawing on previous research showing a link between executives' external networks, firm strategy, and performance, the study argues that executive external networks are strategically valuable to firms; thus, they should be reflected in executive compensation. The study further examines whether firm diversification, with its elevated demand for strategic resources, moderates the relationship between CEO external directorate networks and pay. Hypotheses are tested using a sample of 460 Fortune 1000 firms. Analyses reveal that the rewards to CEO external directorate networks are contingent upon the firm's level of diversification. Implications for future research and practice are discussed. Copyright © 2001 John Wiley & Sons, Ltd.     

Stock market reaction to CEO certification: the signaling role of CEO background

As a direct result of the corporate scandals that started with Enron and led to general unrest in the financial markets, the Securities and Exchange Commission required chief executive officers (CEOs) and chief financial officers of large publicly traded companies to certify their financial statements. Using market signaling theory, we propose that attributes of the CEO send important signals to the investment community as to the credibility of the CEO certification and thus the quality of the firm's financial statements, which in turn impact the stock market reaction to the CEO certification. We find that a CEO's shareholdings and external directorships are positively related to the abnormal returns of CEO certification. Further, the stock market penalizes a firm with a CEO who is associated with the firm's prior financial restatement and rewards a firm with a CEO who is appointed after the firm's prior financial restatement. Copyright © 2009 John Wiley & Sons, Ltd.     

Hospital Demography and Turnover Among Nurses

There has been increasing interest in examining turnover at the organizational level of analysis. In a study using a sample of more than 250 hospitals, turnover among nurses is found to be negatively related to the local unemployment rate and positively related to two demographic measures which assess the degree of inequality or heterogeneity in length of service among nurses. Turnover in this study is shown to be related to heterogeneity among cohorts, not individuals or groups. The results are consistent with earlier studies which have shown the importance of organizational demography for understanding turnover and demonstrate important differences in the way in which demography can be measured.