Managerial efficiency and human capital: an application to English association football

The problem of hidden action in organizations makes direct measurement of managerial performance problematic. But in English association football hidden action is unlikely to be as serious a problem because the owner observes the manager's performance each time the team plays. In this situation production frontier analysis may be used to measure managerial performance and analyze the variation in performance across managers in terms of manager human capital. Having some kind of prior affiliation with the club and achieving international recognition as a player are especially important. Overall, initial experience matters more than specific and general managerial experience. Copyright © 2002 John Wiley & Sons, Ltd.     

企业年报阅读难易程度的衡量与影响因素研究——基于管理者操纵视角

以我国2007—2017年上市企业年报文本信息为研究对象,基于委托代理背景下的印象管理理论,从驱动、约束、风格三个维度分析易读性运用的影响因素。研究结果表明:企业绩效与易读性水平显著正相关,是易读性操纵的驱动因素;民营企业的盈利水平会显著驱动高管对易读性水平的操纵,而从长期公司价值的角度来看,不同所有制公司之间操纵的动机无显著差别;公司治理水平对管理者操纵年报易读性的抑制作用较为有限,监事会规模能发挥有效作用;保持高管团队的多样性和专业程度、提高女性高管占比、高管团队年轻化、提高受教育程度,均在提升年报易读性水平方面能够起到积极作用。     

When is Effort Contagious in New Venture Management Teams? Understanding the Contingencies of Social Motivation Theory

Consistent with social motivation theory, prior research on managerial motivation suggests that effort is contagious across management team members. In this study, we draw on belongingness theory to develop a model on important boundary conditions to social motivation theory in the management team context. The model predicts that new venture managers react to their teammates’ higher effort levels by investing higher effort levels themselves primarily when they are confronted with a threat – namely, low venture performance and high environmental hostility – but that effort is less contagious when managers face little threat. We test our model with a sample of 103 new venture managers nested in 51 management teams in a longitudinal setting capturing managerial effort over 26 weeks. While we do not find a direct relationship between teammates’ effort and a new venture manager’s subsequent effort, we find support for the crucial role of threat in triggering the contagion of managerial effort. We discuss the contributions of our study for research on management teams, performance feedback, and entrepreneurial effort in new ventures.     

管理会计在项目驱动型组织中的关注重点

近年来,企业内外环境的巨大变化导致传统的企业组织结构不能适应新形势的发展需要,其必然会被面向市场的项目驱动型的结构所取代。在新的组织结构下,现代管理会计的关注重点必然会发生变化;本文主要论述了管理会计在项目驱动型组织中关注的四大焦点:企业知识管理,时间进度管理,团伙绩效管理和客户关系管理。     

Sink or Swim: Empowering Leadership and Overload in Teams' Ability to Deal with the Unexpected

The notion of improvisation has recently emerged in managerial studies as a viable solution to flexibly dealing with unexpected occurrences in work environments. However, past research on team improvisation has overlooked the contingencies that allow teams to effectively improvise. Drawing upon demand‐control theory, we investigate how empowering leadership and overload affect the improvisation‐performance relationship in the context of 48 work teams. Our results suggest that empowering leadership positively moderates the relationship between improvisation and performance, while overload attenuates the same relationship. Moreover, we found a joint effect of overload and empowering leadership influencing the improvisation‐performance link, such that improvisation is most positively related to performance when empowering leadership is high and overload is low. Conversely, we found that empowering leadership is particularly detrimental to the improvisation‐performance relationship when team members perceive high degrees of overload. Our findings make important contributions to the extant team literature as well as to the emerging literature on team improvisation. We outline several significant insights for HR managers and team leaders who are responsible for supporting teams that face unexpected events in the work environment. © 2013 Wiley Periodicals, Inc.     

Socio‐demographic factors and shared leadership behaviors in dispersed teams: Implications for human resource management

Companies increasingly make use of geographically dispersed teams to capture knowledge residing at different locations. In this context, shared leadership is considered a key enabler of team performance. Taking a functional perspective on shared leadership, we thus investigate the relationship between shared leadership behaviors and team performance in dispersed teams. Furthermore, we analyze how socio‐demographic factors that are characteristic for dispersed teams (i.e., high female‐to‐male ratio, high mean age, and high levels of national diversity) affect shared leadership behaviors. Based on data from 96 dispersed teams, we show that shared leadership behavior fosters team performance. Further, we find the socio‐demographic characteristics typical for dispersed teams to foster shared leadership. Theoretical and managerial implications for human resource management are discussed. © 2012 Wiley Periodicals, Inc.     

高校教学团队的概念、特征与组织要素分析

本研究基于团队的概念,对高校教学团队的内涵和特征进行了分析,基于二分法,明确教学团队的构成要素和管理要素,提出要注意审慎进行团队负责人的遴选,把握适度的团队规模和合理的团队结构,建设合理的教学团队考核体系和激励机制,才能够顺利推进高校教学团队的建设。     

央企管理者来源对企业绩效的影响效果研究

本文将央企集团的高管作为研究对象,实证检验央企高管来源对集团绩效的影响,拟为央企集团经理人选聘的作用机制提供经验证据。研究发现:总经理岗位轮换与集团绩效的关系因继任情景不同,产生不同的结果。一方面,来自内部晋升的董事长会过度干预执行层的工作而导致企业绩效下降,这种情况在总经理岗位轮换的时候更为严重;另一方面,高管团队的稳定性对岗位轮换的总经理产生重要影响。因此,实施董事长轮岗制度,同时保证经理层的稳定性更有利于企业的发展。本文研究有助于深化认识央企高管晋升机制、高管变更的经济后果,并为国有企业高管聘任机制改革提供经验启示。     

Structural decisions about configuration,assignments, and geographical distribution in teams: Influences on team communications and trust

Managers structure teams in a variety of ways, which are likely to influence the ability of team members to interact and collaborate. We explore the effects of managerial decisions about the structure of teams by configuration, assignment, and geography. In our conceptualization, we consider a team member's psychological distance as a mediator and the richness of social cues and psychological safety as moderators of the effects of the type of team structure on individual perceptions of the team process of communication and the emergent state of trust in other team members. We contribute to the literature by exploring the different underlying mechanisms through which the type of team structure affects a team member's psychological responses and interactions among team members. Noting that physical distance is difficult to change, we focus instead on perceived psychological distance, which offers a framework that facilitates both better understanding and a means to address collaborative challenges.     

Managing Task Interdependencies in Multi-Team Projects: A Longitudinal Study

abstract    In this article we examine project-level and team-level managerial functions aimed at managing inter-team task interdependencies and investigate their effect on the performance of teams in a multi-team product development project. We hypothesize that team interface management (a team-level function) performed in the concept phase of a project, rather than the later development phase, is positively related to team performance at the project's conclusion (i.e. product quality, product cost, development budget, development time). Furthermore, we argue that project structuring and support (a project-level function) is important in both the concept and the development phases. We test our hypotheses empirically based on a 36 months longitudinal study of a product development project in the European automotive industry comprising 39 teams. The results show that team interface management is particularly important during the concept phase of the project. Project structuring and support is most important in the development phase of the project, while hindering team performance in the concept phase. Theoretical and practical implications are discussed.     

Asset-light strategy,managerial ability,and corporate performance of the Asian telecommunications industry

This paper examines the effects of asset-light strategy on the corporate performance of listed Asian telecommunications corporations and the moderating effect of managerial ability on the association between asset-light strategy and corporate performance. The study applies the dynamic slacks-based measure (DSBM) model and Tobit regression to measure managerial ability. The empirical results show that asset-light strategy positively affects corporate performance and that managerial ability has a significant moderating effect on the relationship between the degree of asset-lightness (DAL) and corporate performance. The findings further show that the greater the managerial ability, the stronger the relationship between DAL and corporate performance.     

高管持股、会计稳健性与并购绩效——来自沪深A股上市公司的经验证据

选取2007—2010年发生并购交易事件的上市公司为样本,检验了并购方高管持股与并购绩效之间的关系,发现高管持股与短期并购绩效之间没有显著关系,而与长期并购绩效之间呈非线性关系。进一步验证会计稳健性确实能够缓解高管与股东之间的代理冲突。与会计稳健性程度高的并购方相比,会计稳健性程度低的并购方高管持股对并购绩效的影响更大。这些发现意味着,高管持股不会在并购后短期内对绩效有显著影响,而是需要一段时间之后才能得以显现,且其影响程度因公司间会计稳健性不同而存有一定的差异。     

Is there a managerial life cycle? Evidence from the NFL

We use data from the NFL over 1920–2004 to examine the relationship between age and managerial performance controlling for other relevant influences. Our results indicate that age enhances performance up to a point at which increasing age predicts diminished performance—a managerial life cycle. Moreover, rates of change in the life cycle are relatively gradual, which is consistent with gradual changes in the marginal product of human capital and depreciation rates for human capital rather than levels that are fixed for long periods. With a lag of about 7–10 years, the effects are very similar to those found between age and athletic performance in previous studies by Fair. Copyright © 2006 John Wiley & Sons, Ltd.     

Banks' business strategy and environmental effectiveness: The monitoring role of the board of directors and the managerial incentives

The purpose of this paper is to investigate how banks' climate strategies affect environmental performance. To extend this line of research, the carbon disclosure of worldwide banks is examined. In particular, we focus on specific governance strategies: board of director monitoring and managerial incentives. Panel data are employed on a sample taken from 330 bank-year observations in the period after the financial crisis. The results show an increase in environmental performance through the implementation of managerial incentives related to climate change, associated with the highest level of responsibility of the board of directors. Overall, the present study contributes to both the academic literature and corporate governance, highlighting the importance of banks' business strategy on climate change risks and opportunities with respect to environmental performance goals.     

The Influence of Managerial Ownership on Bank Market Value,Performance, and Risk: Evidence from Banks Listed on the Stoxx Global Index

We follow agency theory to assess the influence of managerial ownership on the market value, performance, and risk of 123 listed banks in 23 countries included in the STOXX Global Index in 2007 and 2010. After controlling for bank characteristics, regulatory restrictions, and macroeconomic conditions, our findings show a positive relation between managerial ownership and both market value (Tobin's Q) and performance (ROA and ROE). Moreover, we find a negative relation between managerial ownership and risk (EDF, NPL/L, and Z‐SCORE). Bank market value and performance is a non‐linear, inverse U‐shaped function of managerial ownership. The negative relation between managerial ownership and bank risk is also non‐linear and U‐shaped. Our results remain robust to reverse causality. In their effort to immunize the global financial system from systemic risks, central banks and practitioners should find our results relevant for regulation purposes.     

Hired to be Fired: The Publicity Value of Managers

Sports teams frequently fire and hire managers when they experience losing. However, determining managerial responsibility for player performance is difficult to measure. This study examines how major‐league baseball players perform under different managers and estimates that managers have little effect on performance. The study further investigates whether or not replacing managers serves as a signal to fans that the team is improving, which boosts attendance. The results indicate that new managers were associated with increased attendance in the 2000s; however, such effects were not present in the 1980s and 1990s. Copyright © 2016 John Wiley & Sons, Ltd.     

CHAMPIONS OF CHANGE AND STRATEGIC SHIFTS: THE ROLE OF INTERNAL AND EXTERNAL CHANGE ADVOCATES*

Change advocates who participate in the process of strategy-making can play an important role in enabling organizational adaptation. To examine the nature of this role, this article investigates the influence on strategic shifts of two such participants - new members of the top management team and management consultants. Empirical findings suggest that managers see these two types of change agents as having two different kinds of influence on strategic shifts. Specifically, the change agent role of management consultants is viewed as one that creates pressure for change by helping to shape new managerial perspectives of the environment. In contrast, the change agent role of new members of the top management team is viewed as one that counteracts inertial forces that may block the implementation of change. These results suggest that management consultants may be much more useful in stimulating changes in the ways executives think about their environment than they are in implementing radical strategic changes. To overcome institutional resistance to extreme strategic shifts, organizations may need to resort to stronger political and symbolic actions, such as promoting or hiring new top executives in key leadership roles.     

Managerial Ownership and Earnings Management: Theory and Empirical Evidence from Japan

This paper examines the relationship between managerial ownership and opportunistic managerial behavior relating to earnings management. Economics theory identifies two apparently conflicting effects of managerial ownership on managers' incentives: the incentive alignment effect and the management entrenchment effect. We construct a theoretical model demonstrating the two effects. This model suggests that as managerial ownership increases, earnings management decreases for both high and low levels of managerial ownership, while it increases for intermediate levels of managerial ownership if the sensitivity of the probability of managerial dismissal to the corporate performance is high enough and/or the manager's private benefit derived from managerial position is high enough. In a sample of Japanese firms, we find a significant nonmonotonic relationship between managerial ownership and discretionary accruals, consistent with our model.