Stock price informativeness and analyst coverage

We examine whether more analyst coverage translates into more informative stock prices and apply this to both developed and emerging markets. We measure price informativeness using the association between current stock returns and future earnings. We argue that more informative stock prices contain more information about future earnings. Results indicate that analysts' activities do not contribute to the impounding of future earnings information into current stock prices, in accordance with the view that analysts are outsiders who do not have full access to firm‐level information. We also find that analysts specialize according to industry and that “industry expertise” is limited to developed countries. Overall, our evidence is consistent with the explanation that analysts focus on gathering and mapping industry‐ and market‐level information (macroeconomic information) into stock prices. Copyright © 2013 ASAC. Published by John Wiley & Sons, Ltd.     

Excess control and the risk of corporate expropriation: Canadian evidence

Corporate governance in Canada was examined by looking at the ultimate ownership structure of a large sample of publicly traded firms. Results suggest that small investors in Canada are vulnerable to corporate expropriation in large firms. Despite the similarities in institutional indexes, Canada displays different patterns of ownership structure than sister Anglo‐Saxon countries (the U.S. and the U.K). More importantly, results suggest that excess control drives expropriation over and above the typical Jensen type of agency problems that are attributable to regular separation of ownership and control. Equally important, firms headquartered in Quebec appear to be undervalued vis‐à‐vis firms headquartered in the rest of Canada. Copyright © 2007 ASAC. Published by John Wiley & Sons, Ltd.     

What does employee ownership effectiveness look like? The case of a Canadian‐based firm

Drawing on agency theory, we explore how 30 employees defined ownership effectiveness in a 100 % employee‐owned Canadian‐based firm. Using a qualitative case‐study, remarkable similarities were found in the factors employees themselves believed contributed most to ownership effectiveness. Despite differences in job roles, employees emphasized confidence in the ownership program, participative decision‐making, ownership identity, and their organization as a family unit. In light of these findings, we discuss how a broader conceptualization of employee ownership effectiveness can be applied for a more comprehensive understanding of how such programs may develop and manifest. Copyright © 2016 ASAC. Published by John Wiley & Sons, Ltd.     

Impacts of International Greenfield Investment on Firm Valuation

Our study examines the announcement effects of 343 international greenfield investments by 289 U.S. firms for their impact on shareholder wealth. This paper develops five hypotheses based on the positive‐multinational‐network hypothesis. The evidence indicates that market reactions to announcements by firms entering developing countries are more favorable than those entering developed countries. In addition, the results show that the wealth effect for firms entering a host country for the first time is greater than for those that are already operating within the country. As for the long run, greenfield firms have shown improvement in their operating performance and stock performance. Copyright © 2012 ASAC. Published by John Wiley & Sons, Ltd.     

Presuccession Performance,CEO Succession,Top Management Team,and Change in a Firm's Internationalization: The Moderating Effect of CEO/Chairperson Dissimilarity

Extending the literature on CEO succession, we found that a succession event together with a change in top management related positively to strategic change toward greater internationalization. In a study of 160 Taiwanese firms, we found relationships between firm performance, outside CEO appointment, change in firm's top management team (TMT), and the degree of a firm's internationalization. Moreover, the positive association between a post succession TMT structural change and degree of internationalization was observed only in those cases where dissimilarity between CEO and chairperson (with respect to educational degree and overseas education) was low. The implications of these findings for scholarship and practice are discussed. Copyright © 2011 ASAC. Published by John Wiley & Sons, Ltd.     

The state and evolution of information systems research in canada: a scientometric analysis

This paper investigates the state and evolution of information systems (IS) research in Canada as reflected in publications of the proceedings of the annual conference of the Administrative Sciences Association of Canada from 1974 to 2007. We present a scientometric analysis of (a) individual and institutional research outputs; (b) differences in three productivity score calculation methods: straight count, equal credit, and author position; (c) study topics; (d) research methods; and (e) use of student samples. Copyright © 2008 ASAC. Published by John Wiley & Sons, Ltd.     

Assessing credit quality from the equity market: can a structural approach forecast credit ratings?

We investigate the empirical performance of default probability prediction based on Merton's (1974) structural credit risk model. More specifically, we study if distance‐to‐default is a sufficient statistic for the equity market information concerning the credit quality of the debt‐issuing firm. We show that a simple reduced form model outperforms the Merton (1974) model for both in‐sample fitting and out‐of‐sample predictability for credit ratings, and that both can be greatly improved by including the firm's equity value as an additional variable. Moreover, the empirical performance of this hybrid model is very similar to that of the simple reduced form model. As a result, we conclude that distant‐to‐default alone does not adequately capture the firm's credit quality information from the equity market. Copyright © 2007 ASAC. Published by John Wiley & Sons, Ltd.     

Measuring Purchasing Groups Performance in the Health Care sector

For many decades, governments in Western countries have attempted to control health costs. One of the strategies used is through purchasing groups, since consolidated needs generate additional savings. Although various aspects of purchasing groups have been studied, performance measurement has been neglected; due to the lack of proper measures, tensions between the purchasing group and its members can't be addressed with more objective information. However, appropriate performance indicators are considered a prerequisite to successful collaboration. Using the in‐depth case of a Canadian purchasing group in the health care sector, this article suggests a set of performance indicators to measure results considering dimensions of the purchasing process and the interactions between the purchasing group and its members (who are also its customers). © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

The Direct and Indirect Effects of Self‐Efficacy on Salespeople's Emotional Exhaustion and Work‐Family Conflict: A Study Using the Job Demands‐Resources Model

This study integrates Social Cognitive Theory with the Job Demands‐Resources Model to examine self‐efficacy in relation to emotional exhaustion and work‐family conflict (WFC) in a sample of 192 employees. The results obtained through structural equation analysis show: a negative association between self‐efficacy and both work overload and emotional exhaustion; a positive relationship between work overload and both emotional exhaustion and WFC; that work overload mediates the relation between self‐efficacy and both emotional exhaustion and WFC; that role ambiguity moderates the relation of self‐efficacy with work overload; and that tenure in the sales territory moderates the relation of work overload with WFC. Copyright © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

Privacy in Doubt: An Empirical Investigation of Canadians' Knowledge of Corporate Data Collection and Usage Practices

We investigate Canadians' level of awareness of the ways in which businesses collect and use their data via existing and emerging technologies, including facial and voice recognition, mobile location tracking and the Internet of Things. In a survey of 1,005 Canadians, we found that many respondents are ill informed about how their data are being collected and used. Such low awareness of data practices is partially explained by the shortcomings of the “privacy notice.” We suggest further research into alternative methods of informing Canadians about corporate data practices and of enhancing individuals' control of private data in today's increasingly connected and mobile world. Copyright © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

The Use of Electronic Brokerage Systems in China: A Modified e‐Commerce Model

I applied the DeLone and McLean (2004) information systems success model to the use of electronic brokerage systems in China. Several modifications to the model are proposed, including the addition of specific measures of customer perceptions concerning both the perceived costs and benefits of using such systems. Structural equation modelling revealed that the DeLone and McLean (2004) model is not a good representation of those who use electronic brokerage systems for cross‐national transactions, but that the modified model is a good fit for all customers. Copyright © 2011 ASAC. Published by John Wiley & Sons, Ltd.     

Partner Selection,Interorganizational Coordination,and New Service Development Success in the Financial Service Industry

This study aims to investigate the relationship between partner selection and new service development (NSD) success. We identified three partner selection factors based on partner selection theory: partner reliability, partner expertise, and partner compatibility, and suggested product‐market experience and technological experience as moderators. We developed a questionnaire and distributed it to 446 financial service companies in Taiwan. Overall, we received 122 usable pairs of responses from each firm's sales manager and marketing manager. The results indicate that interorganizational coordination contributes to NSD success. Among the three partner selection factors, partner reliability and partner compatibility were found to positively affect interorganizational coordination. In addition, product‐market experience enhances the positive effect of interorganizational coordination on NSD success. Copyright © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

Target Costing,Business Model Innovation,and Firm Performance: An Empirical Analysis of Chinese Firms

Market orientation theory was used to relate the implementation of target costing systems and business model innovation to firm performance using a sample of 189 electronics and information industry manufacturers in China. As expected, the implementation of target costing was positively associated with both business model innovations and firm performance. Further, the diversity of product development teams was also crucial. It positively moderated the association between target costing and business model innovation. Finally, the business model innovation was positively related to firm performance. Copyright © 2012 ASAC. Published by John Wiley & Sons, Ltd.     

Building a better literature review: Looking at the nomological network of the country‐of‐origin effect

Due to a rising pace of knowledge production, reviewing extant knowledge on mature topics has become increasingly challenging. Researchers often need to account for hundreds of references with little guidance on how to proceed. Taking the phenomenon of the country‐of‐origin effect (COE) as an example, this paper proposes a solution to tackle this challenge. By adopting the principles of integrative literature reviews and using online databases, bibliography management software, and literature‐mapping techniques, I organize 355 papers about the COE. As a result, the nomological network of the COE is drawn while establishing links between the phenomenon, its antecedents, and its outcomes. This methodological article contributes to building better literature reviews. Copyright © 2015 ASAC. Published by John Wiley & Sons, Ltd.     

Disentangling the effect of exploratory learning and exploitative learning in product innovation process

Although studies have highlighted the importance of exploratory and exploitative learning in new product development, little is understood about the distinctiveness of team‐level exploratory and exploitative learning in the distinct phases of the product development process. This study uses a two‐phase product innovation process model to examine the differences in the effects of the two distinct learning strategies in the initiation and implementation phases. The findings from 126 teams show that (a) the effect of exploratory learning on innovativeness in the initiation phase is greater than that of exploitative learning and (b) exploitative learning can strengthen the link between the initiation phase's innovativeness and new product success more than exploratory learning. Copyright © 2013 ASAC. Published by John Wiley & Sons, Ltd.     

Foreign affiliates' knowledge sourcing from parent firms

This study investigates the factors that influence the extent to which foreign research and development affiliates source knowledge from their parent firms, by developing theoretical hypotheses that predict patterns of foreign affiliates' knowledge sourcing according to their technological capabilities at multiple levels (firm, industry, and country). We use cross‐border mergers and acquisitions and patent citation data from Fortune Global 500 firms to test our theoretical arguments. The findings suggest that a parent firm's foreign affiliate ownership, industry‐level R&D intensity, and home–host country differences in technological capabilities increase foreign affiliates' knowledge sourcing from their parent firms.     

The subjective valuation of coins and bills

There is more to how individuals value money than just the denomination, based on several recent research articles. Could the very form of money, whether paper or metal, be a basis for such subjective valuation? A theoretical explanation based on the representativeness bias is explored and three experimental studies are employed to investigate this question. The results show that there is a bias in how the value of money is assessed based on whether that money is comprised of coins or bills. Bills are estimated to have more purchasing power than coins for the same objects, including for a different currency where a specific exchange rate is given. Copyright © 2014 ASAC. Published by John Wiley & Sons, Ltd.     

The effects of rewards on psychological health in the workplace: Underlying mechanisms

The effort‐reward imbalance (ERI) model in the workplace (Siegrist, 1996) suggests that inequity of rewards contributes to a degradation of mental health through a process of devaluation. The objective of our study is to test this hypothesis empirically. Data were collected from 659 agents in three call centres located in the province of Quebec. A bootstrap mediation test show that perceived inequity with respect to rewards (recognition, promotion, job security) affects the level of psychological distress through the perception of being valued by the organization. Perceived inequity affects mental health because it signals to workers the extent to which they are valued by their organization. Our correlational study provides evidence of the internal validity of the ERI model. Copyright © 2017 ASAC. Published by John Wiley & Sons, Ltd.     

A Note on the Incremental Validity of Integrity Tests beyond Standard Personality Inventories for the Criterion of Counterproductive Behaviour

Although the validity of integrity tests for predicting the focal criterion of counterproductive work behaviour (CWB) is well‐established, little research has yet addressed the incremental CWB‐related validity of integrity tests beyond basic personality traits. The present research addresses this issue by re‐analyzing data adopted from Marcus, Lee, and Ashton (2007), in which four different overt and personality‐based integrity tests and the HEXACO‐Personality Inventory (Lee & Ashton, 2004) were related to CWB. Integrity accounted for practically significant proportions of incremental variance beyond personality across all integrity tests, yet effect sizes of incremental validity dropped considerably if Honesty‐Humility was added to traditional Big Five dimensions. In addition, findings suggest that CWB is best predicted by a combination of integrity and personality tests. Copyright © 2013 ASAC. Published by John Wiley & Sons, Ltd.     

Manufacturer Support for a Partially Integrated Channel in South Korea: Power‐dependence vs. Marketing Effectiveness Perspective

This article introduces the unique context of a partially‐integrated channel (PIC) that incorporates both market and hierarchical governance forms. In so doing, it examines determinants of the manufacturer's support for a PIC. Using power‐dependence and marketing effectiveness theories, we collected data from 172 marketing managers in charge of PICs in 15 companies in South Korea. The results showed that from the power‐dependence perspective, demand volatility, manufacturer's competitive intensity, and channel concentration are positively related to a manufacturer's dependence on the retailer, which is positively related to the manufacturer's support for the PIC with a retailer. From a marketing effectiveness perspective, channel bonding and customer linking are positively associated with manufacturer marketing effectiveness, which is an antecedent to PIC support for a retailer. Copyright © 2013 ASAC. Published by John Wiley & Sons, Ltd.