Some Recent Developments in Futures Hedging

The use of futures contracts as a hedging instrument has been the focus of much research. At the theoretical level, an optimal hedge strategy is traditionally based on the expected–utility maximization paradigm. A simplification of this paradigm leads to the minimum–variance criterion. Although this paradigm is quite well accepted, alternative approaches have been sought. At the empirical level, research on futures hedging has benefited from the recent developments in the econometrics literature. Much research has been done on improving the estimation of the optimal hedge ratio. As more is known about the statistical properties of financial time series, more sophisticated estimation methods are proposed. In this survey we review some recent developments in futures hedging. We delineate the theoretical underpinning of various methods and discuss the econometric implementation of the methods.     

“8233”模式的探索与思考

社会与企业对高职学生提出了更高的素质要求,"8233"的人才培养模式结合高职院校相关专业的培养目标和学生在学习过程中能力递进的特点,符合技能型的人才的培养目标,在实践中取得了良好的成效。本文以黄河交通学院机械制造与自动化专业为例,对"8233"校企合作人才培养模式进行了理论研究与实践研究。     

Role of line managers in human resource management: empirical evidence from India

Of late, the line management role has been reorganized in business organizations and they are now increasingly taking up responsibility for core HRM functions. Line managers' role in HRM has been recognized in academic research but it is likely impact on the effectiveness of HRM that has remained relatively under researched, especially in India. The focus of the study was, thus, to empirically examine the relationship between dimensions of line managers' role in HRM and effectiveness of HRM in the Indian context. Primary data were obtained from HR managers of top-ranking companies through a single cross-sectional survey based on a research instrument designed by the researcher. The instrument was tested for unidimensionality, reliability and validity. SEM capabilities of LISREL 8.50 were utilized to test the conceptual research model based on the hypothesized relationships. The findings provided mixed support for the conceptual model. The present research has implications for both academicians and practitioners. The study is expected to serve as a guide in understanding the role of line managers vis-a-vis HRM, a largely unexplored area in the Indian context.     

Future Directions for the Teaching and Learning of Statistics at the Tertiary Level

Significant advances in, and the resultant impact of, Information Technology (IT) during the last fifteen years has resulted in a much more data based society, a trend that can be expected to continue into the foreseeable future. This phenomenon has had a real impact on the Statistics discipline and will continue to result in changes in both content and course delivery. Major research directions have also evolved during the last ten years directly as a result of advances in IT. The impact of these advances has started to flow into course content, at least for advanced courses. One question which arises relates to what impact will this have on the future training of statisticians, both with respect to course content and mode of delivery. At the tertiary level the last 40 years has seen significant advances in theoretical aspects of the Statistics discipline. Universities have been outstanding at producing scholars with a strong theoretical background but questions have been asked as to whether this has, to some degree, been at the expense of appropriate training of the users of statistics (the 'tradespersons').
Future directions in the teaching and learning of Statistics must take into account the impact of IT together with the competing need to produce scholars as well as competent users of statistics to meet the future needs of the market place. For Statistics to survive as a recognizable discipline the need to be able to train statisticians with an ability to communicate is also seen as an areà of crucial importance.
Satisfying the needs of society as well as meeting the needs of the profession are considered as the basic determinants which will derive the future teaching and training of statisticians at the tertiary level and will form the basis of this presentation.     

Does training have to be fun? A review and conceptual model of the role of fun in workplace training

The role of fun features in training has yet to be systematically examined from an academic perspective. The purpose of this paper is to aid academic research and training practice by addressing four important issues. First, we discuss the meaning of fun in the context of workplace training. Second, we review and critique the existing research on fun features in training. Third, based on Kahn's (1990) theory of psychological engagement, we propose a conceptual model to guide research to help increase our understanding of the role of fun features in training. Fourth, we discuss opportunities for future research as well as practical implications and caveats. Our intent is to provide a stronger theoretical basis for understanding and researching fun features in training and to provide more nuanced guidance for training practice.     

Theoretical foundations of Swedish entrepreneurship and small-business research

Our main purpose is to test the proposition that Swedish entrepreneurship and small-business research has established a theoretical platform of its own over the last quarter of a century. In order to cope with that challenge we have to provide answers to some basic questions, for example: (i) What theoretical basic elements can be identified in Swedish entrepreneurship and small-business research? (ii) Can we detect shifts in the theoretical basis over time? (iii) To what extent does the research accumulate to form a unified body of knowledge? References used in doctoral theses within this field of research between 1970 and 1995 constitute the basis for the analysis. The results of the study show that the research field is deeply rooted in the sphere of business administration, primarily in organisation and decision theory, and in a strong qualitative research tradition. The field is still very fragmented — it is difficult to identify any “core literature” and the number of different journals used in the research is large. However, during the last decade some interesting changes have taken place: (i) interest has grown among researchers in the field to seek the roots of the subject, which means that more references are made to the “classical works” in the research field, (ii) the academisation of the field has increased, as manifested in the growing use of scientific journals, as against official publications and “grey research literature”, and (iii) theoretical linkages to other fields of research (apart from business administration) have grown stronger. The results indicate greater specialisation and more attention paid to nuances in the research due to clearer definitions of important concepts and the generation of a vocabulary and models specific to the field. Also, the field is in the process of distancing itself from a purely technical approach to knowledge. However, we will still reject the initial proposition that the research field has developed a robust theoretical platform. The citation analysis provides an emergent pattern in the development of entrepreneurship and small-business research. In the seventies the research was empirically orientated, with a view to describing the phenomenon and making it visible in different contexts. The eighties were characterised by the positioning of entrepreneurship and small-business research within business administration, whereas the nineties have been marked by an attempt to create a separate identity as a distinct academic field of study. This is reflected in a growing interest in the origins of this field of research and a broadening of the research beyond the frame set by business administration. We believe that a favourable platform for a future specialisation of research challenges and integration of lines of thought is thereby created, which in turn will help the research field to mature and to develop its own theories and methodologies.     

Whistle while you work? A review of the effects of music in the workplace

The effects of music on human performance have been studied across many disciplines. Music has been shown to impact task performance, organizational citizenship behaviors, and learning (i.e., training), but the implications of the study of music in the workplace have not yet been fully realized. Therefore, we conduct an interdisciplinary review of research on music relevant to the field of management. We also offer a solution to the lack of theoretical grounding in previous work by applying activation theory to understand the effects of music in the workplace. Taken together, the literature shows that music works through the mediator of mood and emotion. Findings also illustrate the consequences of extraversion, task complexity, and listening autonomy in relation to individual affective reactions to music. While the evidence suggests music may potentially have significant value in the workplace, more research is needed to understand how music might be effectively utilized by organizations.     

Dynamic managerial capabilities: Scale development and validation

Studies on dynamic managerial capabilities still have a rather theoretical nature, and there is great difficulty in finding a valid, reliable instrument to measure this construct. The present study contributes to solving this problem: It aims to develop and validate a scale to measure dynamic managerial capabilities. In this investigation, we develop a scale for three factors related to dynamic managerial capabilities: human capital, managerial cognition (already described in the literature), and relationship networks. The prominent finding in this research is the factor that is referred to here as relationship networks.     

Long-term analysis of technologically focused smaller manufacturing enterprises

This study examines the operations of technologically focused SMEs over the past 20 years. A panel of SMEs was studied in 1975, 1985, and again in 1995 to determine (1) whether or non-technologically focused SMEs changed over time and (2) if it was possible to identify the differences between those SMEs that perceived themselves to be technologically focused and those that did not. The panel consisted of over 800 SMEs operating in a single Midwestern State business climate. In 1975 the panel generated almost 500 responses to a research instrument that had been designed in a two-stage process. In the first stage, 23 case studies were developed to generate a conceptual and theoretical understanding of SMEs’ operations. The results of the case studies and available theory were used to design a mail questionnaire that was mailed to the original panel. The study suggests that technologically focused SMEs have changed significantly over the 20-year period from 1975 to 1995. Over this period of time, they have responded to the business conditions and competition around them, but have also changed how they view their own internal planning and operation needs.     

Exploring an innovative pivot: How green training can spur corporate sustainability performance

In general, studies on green innovation practices have primarily taken an innovation view to study the costs and benefits to firms. What has been less examined, however, is how green training spurs the intentions and advantages of green innovation. Thus, this paper explores how and when green training influences the likelihood of firms to achieve sustainability performance by using organizational learning theory. Using a dataset of 231 Chinese manufacturing firms, our work shows that green training is positively correlated to corporate sustainability performance via the indirect effect of green innovation behavior. We also find an increasingly positive indirect effect that is conditional on ambidextrous learning; specifically, this indirect effect is least positive for firms with lower ambidextrous learning capacity but stronger for those firms having higher ambidextrous learning capacity. We hold that the key to spurring corporate sustainability performance through green training lies mainly in advancing firms' green innovation behaviors and persistently enhancing their capacities for ambidextrous learning. Thus, this study offers not only new theoretical insights for understanding the effect of green training on corporate sustainability performance but also practical implications for improving corporate sustainability performance within a green economy context.     

Implementing sustainable purchasing and supply management (SPSM): A Delphi study on competences needed by purchasing and supply management (PSM) professionals

This research is about a Delphi study that was conducted in the context of the development of a competence model for sustainable purchasing and supply management (SPSM). Based on the findings of a systematic literature review (SLR), it addresses the research gap in this area with the aim to foster the integration of sustainability in purchasing and supply management (PSM) in higher education and in professional training approaches for PSM professionals. The qualitative study was conducted with 16 Delphi experts in the field of PSM and sustainability, applying the critical incident technique (CIT). Together with the findings of the SLR, it led to a specific set of SPSM competences. The theoretical background is based on PSM research, educational sciences and organizational psychology.     

Towards a hybrid model? A systematic review of human resource management research on Chinese state-owned enterprises (1993–2017)

Abstract

Over the past two decades, there has been a proliferation of research on human resource management (HRM) in Chinese state-owned enterprises (SOEs) as a result of the wide-reaching state-sector reform of the late 1980s. This article aims to provide a systematic review of literature on this topic and capture the nature of HRM in Chinese SOEs, both in research and practice. The article draws on 178 studies from 43 English academic journals over a period of 25?years (1993–2017). In analysing this literature and by taking stock of theoretical frameworks, research methods, themes and analysis of academic articles in this area, we have gained a number of insights. The study has found that the research methods used have shifted from qualitative and interpretive methodology toward quantitative and sophisticated modelling. A further insight is that there has been a relatively heavy reliance on institutional theory in the earlier studies reviewed, and since then a switch towards organizational behaviour perspectives. The level of analysis has moved from macro to micro level and thematic foci have become more diverse and complex. We highlight a number of avenues, theoretical and empirical, for future studies in this field.     

竞技跆拳道运动训练中准备姿势分类及其训练方法的分析与研究

当前竞技跆拳道运动技术已进入一个全新的发展阶段,深入研究实战所需要的技术是训练过程中的核心任务。本文首先从最基本的准备姿势进行理论分析,认为准备姿势分为基本准备姿势、常规实战准备姿势和非常规实战准备姿势三个层次。对此分类的重要性、技术动作要领进行说明;并提出相应的训练步骤与训练方法及实战准备姿势训练中应注意的问题。     

基于双螺旋结构的创业机会识别模型构建

自创业活动作为一门科学出现在学术研究领域开始,各国对创业活动的关注就从未停止过。而创业机会的识别问题作为创业活动的起点,就一直是创业领域研究的关键问题。而从个人因素、机会因素两大维度对创业机会的识别进行探讨,分析影响创业机会识别的主要因素,将有助于完善创业研究的理论体系,为今后的科研工作奠定更为坚实的基础。     

Managing Workplace Sexual Harassment: The Role of Manager Training

Sexual harassment remains a persistent problem for businesses. Indeed, employers spend millions annually in sexual harassment litigation and liability costs. Furthermore, current U.S. law effectively makes it management's responsibility to implement programs to prevent and correct harassment, or else face heightened liability. A common element of prevention programs is training, especially for employees in positions of authority. Several states have gone so far as to mandate sexual harassment training. However, little research exists to demonstrate the efficacy of such training programs. It is known that training sensitizes people in recognizing harassment. However, no research has indicated that training enables managers to accurately identify harassment and respond appropriately. This exploratory study addresses this issue by examining whether training quantity (i.e., cumulative training hours), training variety (i.e., the number of training methods employed), and training recency (i.e., the elapsed time since training) predict a manager's ability to (a) accurately identify sexual harassment and (b) recommend an appropriate response. Results suggest that, while training increases sensitivity, training is associated with decreased accuracy in identification of sexual harassment. No relationship was found among the predictor variables and manager accuracy in recommending an appropriate response. Implications concerning these results are offered along with directions for future research.     

STRATEGIC AWARENESS, PERSONAL COMMITMENT AND THE PROCESS OF PLANNING IN THE SMALL BUSINESS

This paper is based on detailed study [1], over two years, of sixteen small companies based in the northern region of the U.K. the study was concerned with the way in which the companies pursued different lines of product and market development. the research was characterized by experimental ‘action inputs’ designed to allow observation of the impact of different types of ‘software’(information, counselling, training/education) support on the development process. On the basis of this observation the paper constructs a model of the development process as a basis for evaluation of ‘assistance support’. This model, derived from theoretical concepts, nevertheless has been used in practice by companies for the evaluation of their own specific business development and has also been used for training small firm advisers. Observation of the development process enables a characterization of methods of planning used and evaluation of their influence. This indicates clearly the absence of formal planning models but underlines the importance of the strategic awareness and personal commitment of the owner manager in pursuing particular objectives. Strategic awareness is defined and its relationships with forms of assistance are explored. Implications are then drawn for those who seek to assist small businesses.     

L'état et l'urbain

The outline which follows must be considered as the summary of eight years of empirical and theoretical research on the relationships between economic base and state super-structure in the urban field. These have been personal projects exemplified notably by three theoretical studies (Lojkine, 1969; 1972; 1975) and three regional monographs (Lojkine, 1973; 1974; 1976). But it is also for us a reflection upon the whole of marxist research as it has developed in France since the early 1970s in the realm of urban planning and policies. We hope that it may contribute to a better use of dialectical materialism in our concrete research as well.     

Organizational commitment in the context of multinational corporations: a critical review and directions for future research

Abstract

The antecedents and outcomes of organizational commitment (OC) have been studied extensively over the last three decades. While the majority of research has focused on the OC of employees working in organizations based in a single country or region, studies have also emerged examining the OC of employees working in multinational corporations (MNCs). However, there has been no attempt to comprehensively review and synthesize the literature in this area, limiting our understanding on how to effectively manage OC in MNCs. The present study conducts a systematic review of empirical literature on OC in the MNC context. We review literature on the theoretical foundations, antecedents and outcomes of OC in MNCs, and evaluate empirical papers that expand our understanding of the nomological network of constructs to which OC is related in the MNC context. Building on the review, we then present a future research agenda, which targets opportunities for empirical and theoretical advancement of research on OC in the MNC setting.     

Training and business performance: the Spanish case

This paper examines the relationship between training policies and business performance. Our research seeks to enlarge the empirical bibliography about the impact training has on firms and tries to challenge the criticism previous works with similar characteristics received. With this purpose in mind, we have used a theoretical model based on the hypothesis of a ‘cascade-type relationship’ between four types of organizational performance. The results obtained from a sample of Spanish firms show that training policy (based on the human capital theory and the resource-based theory) has a significant impact on firm performance.     

Taiwan Chinese managers' personality: is Confucian influence on the wane?

This paper conjectures that Chinese managers' personality in the Taiwan context, as shaped by Chinese tradition, has been moderated in response to their career experience. The paper begins with an introduction to Chinese culture and its impact on values and personality. It then goes on to argue that if the cultural context can nurture personality, we should therefore expect that as the context changes, personality can be moderated via economic reforms as in the case of Taiwan. It is reasonable to assume that among the Taiwanese, the occupational grouping that has most actively felt the impact of these reforms is managers who have been at the forefront of making them happen. We are not aware of any studies focusing on Taiwanese managers which attempt to assess how far their personality is still shaped by Confucian values which have strongly influenced Chinese traditions, and how far it has experienced changes that have come about through modernization and economic reform. We have addressed this research gap using the Chinese Personality Assessment Inventory (CPAI), an indigenous Chinese personality instrument developed by Cheung et al. (1996) with the support of an interview programme and a biographical data sheet to flesh out details related to the subjects' lives and experience. The findings suggest that the traditional Chinese personality with its grounding in Confucianism has been gradually eroding but that some elements of it are still strongly in evidence. The contribution of this study lies in illustrating how personality may be undergoing convergence through modernization. It also signals that cultural boundaries with reference to emic and etic research may also be converging. To the extent that this is so, future studies on culture and business management in China may need to reappraise their understanding of the nature of Chinese culture, values and personality, and how they have responded to business forces in a globalized world.