Delivery of private toll roads: Incentive strategies for improving service quality and social welfare

Managing the service quality of toll roads delivered by using Public-Private Partnerships (PPPs) to ensure value for money to taxpayers is challenging for governments worldwide. An absence of critical research in this area has exacerbated this challenge. The upshot, in this instance, has been an inability for governments to engender and enact effective incentive strategies to operate and maintain private toll roads. To fill this gap, this paper aims to identify and examine incentive strategies for improving the operational quality of toll roads delivered by private entities. We develop a game model with four scenarios and then compare relevant decision behaviour and social welfare. The analysis reveals that only when the shadow cost of public funds is below a specific threshold there can be a feasible incentive strategy for ensuring quality improvement and higher social welfare. Furthermore, an incentive contract with a predetermined quality can enable a higher operational quality while requiring a higher incentive intensity. The contributions of this research are twofold: (1) we propose an enhanced model that is useful for governments to examine the impacts that different incentive strategies will have on the performance of transport projects; (2) we give an enhanced insight to support decision-making for incentives towards transport asset operations. This research will also be beneficial for governments in enhancing toll roads’ operational quality and social welfare for taxpayers.     

The role of organizational citizenship behaviour and rewards in strategy effectiveness

Abstract

In this paper we contribute to the strategy and OCB literature by empirically exploring how middle managers as strategic actors in product-market strategy making are enabled or constrained in the strategy process. We explore the role of organizationally targeted organizational citizenship behaviour (OCBO) as a conduit for strategy effectiveness. This is a departure from most OCB studies which concentrate on organizational effectiveness. We assess the mediating role of social and extrinsic rewards as organizational structural processes underlying the OCBO-strategy effectiveness relationship. Our results reveal that while OCBO has no direct influence on strategy effectiveness, participation as a form of social reward partially mediates the OCBO strategy effectiveness relationship. However, the negative mediation effect reveals that excessive participation reduces strategy effectiveness. In terms of extrinsic reward practices, process rewards partially and positively mediate the relationship. Focusing on OCBO our results contribute to the call for more nuanced studies into OCB relationships and performance and to the recent debate surrounding whether certain OCB behaviours are perceived as rewarded. We highlight that whilst OCBO is not in itself an important precondition for fostering effective strategy performance, organizational structural processes in the form of reward practices can foster beneficial OCBO which supports strategy effectiveness.     

Perceptions of students university of corporate social responsibility

The findings of this article bring knowledge about the understanding of corporate social responsibility from the university students’ perception and their values’ structure in a cross cultural high education context. Primary data collected via a survey in Business Schools at Universities of Spain, Poland and Bulgaria and multivariate analysis evidence that both the values’ structure and university students’ CSR perception are influenced by cross cultural factors. In this High Education context and according to Schwartz’s values theory and the Triple Bottom line, the study reveals different value profiles by gender and nationality and diverse attitudes to CSR perception across these European countries. The result approached is important for organizations to assure the success of strategic purposes implicit on social corporate initiatives.     

Strategy in the Public Sector: Management in the Wilderness

ABSTRACT The central question addressed in this paper is ‘Why have organizational strategies emerged in the public sector?’ Two broad answers are suggested. First, ‘strategies’ profile the organization through identifying aims, outputs and outcomes. Public services must, now, provide such transparency in order to secure on‐going funding from government bodies. Once ‘strategies’ are being produced, they also offer an organizational vision that potential additional funding agencies can buy into (with both commitment and money). And public services are short of resources. Second, ‘strategies’ signal greater devolved responsibility in the public sector for both acquiring resources and achieving results. They enable the inclusion of managerial priorities and values in setting the direction of public services. And politicians desire more control over the professionals that dominate public services whilst, simultaneously, wanting to make them more responsible for outcomes. This article explores the growth of strategic planning in a particular area of the public sector – the national parks. Strategies as ‘dormant documents’ and strategies as ‘funding pitches’ are discussed. It is suggested that, in the public sector, strategies should be the object of strategy.     

高职院校社会主义核心价值观教育的有效路径研究

市场经济活动的弱点对我国社会的影响是多方面的,它诱发了个人主义、拜金主义和享乐主义。致使产生了享乐主义代替了对'理想、信念'的追求、利已主义导致人与人之间关系冷漠、拜金主义让人丧失了人的价值追求、扭曲的价值观让人迷失了方向。探索高职院校社会主义核心价值观教育的有效路径,其意义就在于可以提高核心价值观教育的有效性,对于大学生来讲在社会思潮面前不迷失方向,在多元化价值观面前有正确的选择,在是与非的面前有正确的判断,在事业上有强大的精神动力,在人生的道路上有远大的理想。     

The Peripheral Halo Effect: Do Academic Spinoffs Influence Universities' Research Income?

Extant literature has drawn attention to the ‘halo effect’ of the good reputation of a core organizational activity on the outcome of a peripheral activity. We contribute to the literature on organizational reputation by illustrating a halo effect in the opposite direction – from the periphery to the core. We show that developing a reputation for a peripheral activity (in our context, universities' social impact via spinoffs) may have positive spillovers for core organizational activities (in our context, university research), a phenomenon we term the ‘peripheral halo effect'. We also show that this effect is more prominent for high‐status than for low‐status organizations. Our research also contributes to the academic‐entrepreneurship literature by revealing that spinoff portfolios can generate income for universities not only directly via equity positions but also indirectly via reputational benefits.     

Conditional implicit mean and the law of iterated integrals

This paper presents a new framework which generalizes the concept of conditional expectation to mean values which are implicitly defined as unique solutions to some functional equation. We call such a mean value an implicit mean. The implicit mean and its very special example, the quasi-linear mean, have been extensively applied to economics and decision theory. This paper provides a procedure of defining the conditional implicit mean and then analyzes its properties. In particular, we show that the conditional implicit mean is in general “biased” in the sense that an analogue of the law of iterated expectations does not hold and we characterize the quasi-linear mean as the only implicit mean which is “unbiased”.     

翻译与文化身份的塑造--《老人与海》的海观译本赏析

《老人与海》的海观译本是著名译作家海观先生二十世纪五十年代的作品。基于当时特殊时期中国社会的主流政治和文化价值观,海观译本为《老人与海》的主人公塑造了一个英雄人物式的硬汉老人形象。文中以海观译本《老人与海》为例,通过分析译者对主人公人物形象进行的刻画,探讨翻译与文化身份塑造的关系。文中指出：译者所处的目的语的社会文化环境,与译者采取何种翻译策略有着密切的关系。同时,译者的“主体性”,通过译介对目的语的社会文化亦可产生很大的影响,有助于形成本土对待异域国度的态度,进而塑造异域文化的目的语环境中特殊的形象。     

Realizing public values: enhancement or obstruction? Exploring value tensions and coping strategies in the co-production of social care

ABSTRACT

We examine the potential of co-production to enhance or obstruct the realization of public values by analysing what value tensions co-producers experience and what coping strategies they follow. In-depth study of a social care initiative in Flanders shows that co-production enhances the realization of values relating to services delivered, relationships between public servants and citizens, and the democratic quality of the service delivery process. However, public servants and citizen co-producers experience tensions between values, such as efficiency, individual freedom of co-producers, reciprocity, and inclusion. In trying to deal with these value tensions, public servants are found to follow a variety of coping strategies, whereas citizen co-producers tend to escalate tensions or avoid coping with them. The type of coping strategy followed, however, influences if and what values are ultimately represented in the service delivery process and its results.     

围绕品牌核心价值的产品设计研究

区别于视觉识别(VI),提出了通过围绕品牌核心价值的产品设计来塑造和提升品牌识别的观点,然后分析了围绕品牌核心价值进行产品设计的意义。本文给出了三种围绕品牌核心价值进行产品设计的方法:一是塑造显性的产品造型特征;二是塑造隐性的产品造型特征;三是围绕品牌核心价值的功能设计。最后提出了对概念设计结果进行风格检验的方法,只有通过检验的设计才可根据成本和其它限制因素进入到下阶段产品开发,否则便应立刻停止当前的开发进程,及时调整设计策略。     

主要发达国家制定和实施标准化战略的经验

标准化在经济社会发展中的积极作用逐步得到发达国家的认可。为了进一步推动本国标准化的发展,世界主要发达国家均先后制定并实施了本国的标准化战略。通过对主要发达国家标准化战略的制定和实施情况,可以发现其战略所关注的核心问题十分聚焦,且十分重视战略的实施,并通过各种政策加以推动。     

Supply and demand of policy indicators

The aim of this article is to question the idea that all professional service organizations are undergoing a process of inter-archetype transformation. This idea, originating in organizational archetype theory, is now being used to interpret contemporary processes of change in British and other public sector services. Drawing on an example of management UK restructuring in social services during the 1990s – that of local authority social services in the UK – two main problems with this thesis are identified. First, this service demonstrates that ‘radical’ change has not occurred and that older professional values and working practices persist. Second, it reveals how, in at least one part of the public sector in the UK, management reforms have been partly undermined by a specific constellation of institutions and practices. These observations call for questioning the proposition that inter-archetype change is what has occurred and that current reforms will inevitably have this sort of transformational effect.     

The pricing of callable preferred stock

In this study, the authors use both the Black/Scholes European option model and the Barone-Adesi/Whaley American option model to estimate call option values implicit in seasoned callable preferred stock issues. Consistent with the finding that call features increase bond yields, a significant relationship is found between estimated option values and discounts of these securities’ market prices from their estimated income values. However, the size of the discount is only a fraction of what would be predicted by the American option model. Specifically, the market does not appear to take the “early exercise premium” into account. Furthermore, this discount seems to be isolated to in-the-money call features that have evolved to their final call price. Thus, incorporation of a call feature into a security’s indentures, with a deferment period and an initial premium call price, appears to represent a pure gain for the issuing corporation.     

Confused Professionals?: Capacities to cope with pressures on professional work

Public professionalism is increasingly subject to organizational and societal pressures, which has led to ambiguity concerning its nature. Professionals face conflicting situations due to potential clashes between multifaceted professional, organizational, and societal factors. This raises questions about how these factors affect professional work, how professionals experience conflicts and how they cope. We investigate such conflicts, confusion, and coping strategies in a group of veterinary inspectors. Using semi-structured interviews, we analyse their work and link the resulting insights to different perspectives on professionalism. We show that workers experience conflicts as less stressful when they accept organizational factors, or when they are able to enact a more integrated set of professional/organizational work principles. We call this organizing professionalism. We trace factors that hinder and favour such organizing coping strategies.     

Environmental Management Systems and Local Community Perceptions: the Case of Petrochemical Complexes Located in Ports

Most oil refineries and factories producing basic chemical products are located in port areas, with the result that industrial complexes potentially have a strong environmental impact on their area of influence. These externalities result in a loss of welfare for citizens residing in neighbouring areas. In a context of sustainable development, companies must integrate concerns about the natural environment in their business strategy. External stakeholders, as residents, find it difficult to visualize the actions firms take to reduce their environmental impact, and the adoption of voluntary certified environmental management systems (EMSs) acts as a signal indicating the adequate environmental behaviour of these companies. These certifications enable companies to achieve the social legitimacy they need for long‐term survival and competitiveness. In the context of a petrochemical industrial complex located in the port of Castellón (Spain), this paper primarily discusses whether such certifications – which act as signals of firms’ desirable environmental conduct – translate into higher trust in firms and lower risk perception by residents. Contrary to what might be expected, despite the widespread use by companies of voluntary and certified EMSs, the research findings confirm a relatively high citizen perception of risk regarding the industrial complex and a low trust in companies. On the other hand, the findings also show a low trust in the public institutions responsible for authorizing and monitoring firms’ activities and for enforcing possible sanctions in non‐compliance cases. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment     

Implicit leadership in an intercultural context: theory extension and empirical investigation

Prior literature highlights that subordinates' identification with their leader is important for leader success. This study explores new mechanisms of implicit leadership and their effects on identification by subordinates. Using data from two sources – subordinates from five regional clusters and expatriate leaders – this study reveals that a leader's underfulfilment of subordinates' expectations of leadership harms their leader identification. Moreover, simple fulfilment of subordinates' expectations toward leadership does not affect their identification; to do so requires overfulfilment. Furthermore, the effects of underfulfilment strengthen with greater collectivism and low power distance, whereas overfulfilment effects are mitigated by these cultural dimensions.     

The Dark Side of Deeply Meaningful Work: Work‐Relationship Turmoil and the Moderating Role of Occupational Value Homophily

How are close personal relationships experienced by people in deeply meaningful work? Drawing upon in‐depth interview data with 82 international aid workers, I offer three distinct contributions. First, I find that people who experience their work as deeply meaningful have high work devotion. I identify boundary inhibition as a mechanism to explain why they participate more willingly in overwork and erratic work, despite giving rise to time‐ and trust‐based conflict in their relationships. Second, I find that people with high work devotion often also experience emotional distance in their personal relationships when their close others don’t value their work – a context I call occupational value heterophily. This disconnection‐based conflict compounds the time‐ and trust‐based conflict and engenders an emotionally agonizing situation, which I call work‐relationship turmoil. Third, when close others do value their partner’s work – a context I call occupational value homophily – it fosters an emotional connection and offers an avenue for work‐relationship enrichment. These findings draw upon deeply meaningful work to detail the multi‐faceted work‐relationship experience among those with high work devotion.     

Researching Corporate Social Responsibility Communication: Themes,Opportunities and Challenges

Growing recognition that communication with stakeholders forms an essential element in the design, implementation and success of corporate social responsibility (CSR) has given rise to a burgeoning CSR communication literature. However this literature is scattered across various sub‐disciplines of management research and exhibits considerable heterogeneity in its core assumptions, approaches and goals. This article provides a thematically‐driven review of the extant literature across five core sub‐disciplines, identifying dominant views upon the audience of CSR communication (internal/external actors) and CSR communication purpose, as well as pervasive theoretical approaches and research paradigms manifested across these areas. The article then sets out a new conceptual framework – the 4Is of CSR communication research – that distinguishes between research on CSR Integration, CSR Interpretation, CSR Identity, and CSR Image. This typology of research streams organizes the central themes, opportunities and challenges for CSR communication theory development, and provides a heuristic against which future research can be located.     

Stretch Goals,Factual/Counterfactual Reflection Strategies,and Firm Performance

Popular business press and academic publications have advocated for stretch goals, particularly to enhance firm performance. The general assumption is that stretch goals can create a more challenging task environment that upsets complacency, inspires motivation, encourages outside-the-box thinking, stimulates search and innovation, and guides efforts and persistence. Surprisingly few systematic empirical studies have been conducted to support stretch goal deployment, such as when and how to use them. This study introduces two reflection strategies – counterfactual reflection (managers confront performance feedback and create possible alternatives) and factual reflection (managers analyse their own decisions and explain performance feedback) – and uses two experimental laboratory studies to test how different reflection strategies contribute to the stretch goal-performance relationship. The results indicated that using stretch goals does not affect firm performance, although theoretically, using stretch goals can create a more challenging task environment and enhance performance. Rather, it is the combination of the type of goal and reflection strategy that affects performance. I suspect that under stretch goals, managers may be unable to implement new ideas as expected, leading to growing performance gaps and perceived continuous failures over time. Consequently, their motivation to search for alternative solutions declines, and they may fall into a spiral of self-constrained thinking. The results demonstrate that under stretch goals, managers use factual reflection strategies to deliberately reflect on performance feedback to achieve higher performance. In contrast, managers who are assigned moderate goals perform better if they use a counterfactual reflection strategy. I suggest that by using a different reflection strategy, managers can further improve performance by encouraging directed search behaviour and avoiding self-constrained thinking spirals. My study provides a richer theoretical and empirical appreciation of the effect of reflection strategy depending on the task environment and goal-setting.     

Populist Syndrome and Nonmarket Strategy

Although recognized as a defining feature of the current political era, populism and its implications for non-market strategy remain undertheorized. We offer a framework that (a) conceptualizes populism and its progression over time; (b) outlines the risks populism generates for firms; and (c) theorizes effective nonmarket strategies under populism. Our framework anchors the political risk profile of populism in three interdependent elements: anti-establishment ideology, de-institutionalization, and short-term policy bias. These elements jointly shape the policymaking dynamics and institutional risks for firms under populism. Our analysis shows how firms can calibrate two nonmarket strategies – political ties and corporate social responsibility – to mitigate populism-related risks. We specify how particular configurations of political ties and CSR activities, aimed at the populist leadership, bureaucrats, political opposition, and societal stakeholders, minimize risk under populism. Further, we theorize how the effectiveness of specific attributes of political ties and CSR – namely their relative covertness (more vs. less concealed) and their relative focus (narrowly vs. widely targeted) – varies as a function of firm type (insiders vs. outsiders) and the probability of populist regime collapse. Finally, we address how motivated reasoning may bias firms' assessments of regime fragility and resulting strategy choices.