Between a rock and a hard place: corporate elites in the context of religion and secularism in Turkey

Drawing on discourse analyses of 36 in-depth interviews with elite business people from Turkey, the study identifies the networking patterns of new and established business elites in the context of economic liberalization and socioreligious transformation of the country. Through a comparative analysis of the so-called secular and religious elite networks, we demonstrate the role of institutional actors such as the government, and identity networks, based on religion and place of birth in shaping the form and content of social networks among business elites in Turkey. In order to achieve this, we operationalize Bourdieu's notion of theory of practice and Granovetter's theory of social networks, illustrating the utility of combining these approaches in explicating the form and content of social networks in their situated contexts, in which power and divergent interests are negotiated.     

Antecedents and outcomes of managing diversity in a UK context: test of a mediation model

Abstract

Extant research on diversity management (DM) has primarily examined the main effects of diversity management practices (DMP) on outcomes from an organizational perspective. Meta-analysis in this field corroborates the conclusion that this approach is unable to account for the outcomes of DM effectively. The current study extends the literature by examining micro-level antecedents of DMP. This study also examines the mediating influences of perception of overall justice (POJ) and social exchange with organization (SEWO) on the relationships between DMP and work outcomes of career satisfaction (CS) and turnover intention (TI). Results of data obtained from a cross section of 191 minority employees in UK revealed: (i) the reasons why organizations adopted and implemented DMP influenced employees’ outcomes of TI and CS; (ii) the relationship between DM and SEWO is mediated by POJ; (iii) SEWO relates to increased CS; and (iv) DMP related positively to CS through POJ and SEWO.     

Motivational bases for managing diversity: A model of leadership commitment

Given the limited effectiveness of equal employment opportunity and affirmative action programs in promoting minorities in the U.S., the onus to advance women and minority groups may depend on the voluntary efforts from corporate America. In this paper, we apply a general theory of commitment to help explain why top executives may be committed to managing diversity in organizations. We propose that top executive commitment can stem from instrumental, normative, or affective bases. Specifically, top executives may be motivated because of utility maximization, a moral obligation, or a personal desire to be associated with a program of social importance and/or to leave a positive legacy. We further explore the implications of the three motivational bases of top executive commitment to managing diversity on firm diversity outcomes, and we offer some propositions which can serve as a basis for future research.     

Ethnicity and human resource management practice in sub-Saharan Africa: the relevance of the managing diversity discourse

The paper explores issues of human resource diversity in the multi-ethnic societies of sub-Saharan Africa, arguing that ethnicity constitutes a primary dimension of diversity. The influence of ethnicity on employment relations in organizational life in this region is examined and whether the discourse of managing diversity could be applied to manage such diversity. The paper argues that, if the ethnic diversity found in African organizations is well managed, this could enhance organizational harmony and effectiveness. Further, if organizations in Africa deliberately embrace approaches of 'inclusion' rather than 'exclusion' in managing their human resource and appreciate the inherent employee 'difference', it could improve the image and effectiveness of organizations operating here. At the same time, there is a need to adapt such approaches to the cultural specificity of local contexts.     

Managerial style in cost asymmetry and shareholder value

We show that CEOs' contribution to SG&A cost asymmetry is associated with lower shareholder value. CEO-related excess SG&A cost stickiness of CEOs with compensation less tied to shareholder value creation and high power drive this association. Last, we provide first evidence that cost asymmetry incorporates a harmful element to the firm and shareholders, namely CEO-related excess SG&A cost asymmetry.     

创新发展 任重道远——“和谐文化企业行”天津代表座谈摘要

在当前全国上下贯彻落实党的十六届六中全会精神,把建设和谐文化作为构建社会主义和谐社会重要任务的形势下,本刊与战略支持者联手开展了“和谐文化企业行”活动,     

Creditor protection,shareholder protection and investment efficiency: New evidence

Prior studies show significant effects of creditor rights and shareholder rights on corporate investment efficiency; however, they have not addressed how shareholder (creditor) rights influence the relationship between creditor (shareholder) rights and firm investment efficiency. With a research sample of 235,969 firm-years from 31,152 firms across 42 countries during the period 2002–2016, we find that the negative (positive) effect of creditor (shareholder) rights on corporate investment efficiency is stronger (weaker) in countries of strong shareholder (creditor) protection. In addition, our research findings show that both creditor rights and shareholder rights are less effective in investment efficiency during the global financial crisis. Firms in countries of strong shareholder (creditor) protection experience smaller (larger) decreases in the effectiveness of creditor (shareholder) rights.     

黄安南:引领金隅嘉业突围

对黄安南的访谈是从"金隅·山墅"开始的。北京城西,汽车穿过闹市区,转个弯就看到一栋栋赭红色联排别墅,依山错落排开。大部分房子都已售出,里面传出装修工人叮当的敲打声。院中几棵高大的杜仲树,位置处得恰到好处,让人难以相信这是地块开发前保留下来的"原生树"。抬起头来,依稀能看见几个用树皮拼搭的鸟窝放在树丫间,细微处的雕琢显见建设者的匠心。"金隅·山墅"是金隅嘉业开发的第一个别墅     

国际化 任重而道远

这个世界变化得真快,仿佛昨天我们还在中国的市场上“与狼共舞”呢,今天“国际化”就成了一批中国企业的实际行动。如同2004年12月8日联想集团收购了IBM全球PC业务一样,近年来,中国的企业频频出现在国际并购舞台上。对于中国企业走出国门的壮举,有人说,这是因为在国内增长饱和面临压力的情况下,在向外寻找出路;有人说,这是一批志存高远的企业不甘心在自家的市场上“称王称霸”,更希望在国际市场上“与狼共舞”。但不管怎么说,随着经济全球化的加快,随着中国市场经济的深入,随着中国企业的不断壮大,国际化已经是中国企业的历史选择,是不可…     

It's a small world:managing human resources in small businesses

It has become widely acknowledged that, during the past decade or so, large mainstream companies in the UK have adopted a new agenda for managing people. Relatively little is known about the impact of this new agenda on small businesses. The small business sector has been long regarded as the natural home for ‘bleak house’ employment relations practices typified by direct management control, poor terms and conditions, high staff turnover and little training. In March 1993, however, a large survey of 560 companies in Leicestershire revealed a surprisingly high take-up and awareness of new management ideas among small business managers. These findings are at odds with a crude ‘bleak house’ scenario. This large-scale telephone survey was then followed up with detailed case study research. This article presents and reflects upon the evidence and reformulates ideas about people management in small businesses.     

Privilege in place: How organisational practices contribute to meshing privilege in place

Studies of social difference have often focused on segregation and oppression, leaving out the ‘up -side of discrimination’: privilege. Privilege is the unrecognised advantage positioning certain people in a favoured state and systematically conferring power on groups of people in specific contexts. Privilege is also situated: it accumulates in place. Building on processual understanding of space and place, the purpose of this paper is to add to our understanding of processes of privilege accumulation in place by exploring the relationship between privilege and place when both are considered processes rather than entities. Building on Doreen Massey’s work (2005, 2011) for analysing an empirical case, Nordic Outdoor, the article shows that privilege can be understood as meshed in place: privilege accumulates in the same process of configuring trajectories that gives shape to the place in which privilege emerges. Mobilising the concept of place, trajectories and power geometries enables us to direct our attention to constructions of convergence. These concepts are thus not only helpful in studying privilege and power, but they also allow us to treat privilege accumulation as sociomaterial process, taking form locally as the throwntogetherness of a place is negotiated, but also related to many other places and times.     

CEO compensation, shareholder rights, and corporate governance: An empirical investigation

We investigate whether CEO compensation is influenced by the strength of shareholder rights. Our evidence reveals that CEOs of firms where shareholder rights are weak obtain more favorable compensation. It is also found that higher CEO pay is associated with a higher degree of potential managerial entrenchment. Additionally, CEOs of firms with governance provisions that offer them protection from takeovers enjoy more generous pay. We also examine the change in CEO compensation relative to the change in shareholders' wealth. The evidence shows that when there is an increase in shareholders' wealth, the CEO is able to obtain higher incremental compensation when shareholder rights are weak. On the contrary, when shareholders' wealth falls, there is no corresponding decline in CEO compensation when shareholder rights are weak. Given the empirical evidence, we argue that CEO compensation practices reflect rent expropriation rather than optimal contracting.     

Information asymmetry and power in a surveillance society

This paper fuses Lukes' (1974) three-dimensional view of power with the economic concept of informational asymmetry to explicate how access to information is organized and how power relationships arise from this organization. We argue that many observed asymmetries are deliberate and, drawing from the economics and finance literature, we posit that their outcomes are inevitably detrimental. The paper examines the techniques that foster information imbalances, such as media and propaganda, knowledge production, educational systems, legal and organizational structures, exclusive information networks, and surveillance. We conclude that in the absence of greater transparency, the deleterious effects of unequal access to information will continue and deepen. We further suggest that the analysis of the complexities of the issues warrants a broad, multidisciplinary approach and we suggest what this might include.     

Road pricing in a free society

Improved road pricing would be an indispensable element in a road system run on commercial principles, with charges for road use not co-mingled with taxes, and with no discrimination against private road providers. But pricing imposed by a monopoly supplier, to 'restrain' motorised mobility, is unacceptable in a free society.     

Teamworking and change: managing the contradictions

This article examines managers' experiences of introducing a team‐based work system in a manufacturing firm, and their efforts to manage this. Drawing on a social constructionist view, findings are presented that point to the plurality of ‘world views’ held among managers responsible for the delivery of change and to the socially contested nature of teamworking. Implications of these findings are pursued, including the need for change agents and human resource development (HRD) specialists to build sufficient time for review and reflection into change programmes. This is central to developing more skilled approaches to balancing inherent tensions in the employment relationship and processes of change, and in creating opportunities for more fluid and open dialogue among different groups and individuals within management in order to enhance processes of learning and understanding.     

Partners in quality: managing your suppliers

Just expecting more from your supplier is not what partnership is about. We have had the experience where the quality improvement and partnership banner has been waved but the tone and spirit of the meeting did not encourage or support a joint quality improvement effort. Benefits will not be achieved until the wall truly begins to come apart and the relationship is built on mutual respect and trust. Data collection and open answers to questions often reveal embarrassing errors and obvious needs for improvements. As stated before, blame and finger-pointing must be replaced with a mutual commitment to asking and answering the question, "How can we improve?" As Dr. W. Edwards Deming has stated, "End the practice of awarding business on the basis of price tag. Instead, minimize total cost. Move toward a single supplier for any one item on a long-term relationship of loyalty and trust." The structured approach of a quality improvement process and the application of quality methods and techniques has proven useful in removing emotion and helping the team focus on the process rather than the people and the issues involved. Quality improvement methods are focused on achieving both customer and supplier goals--customer satisfaction, employee satisfaction, and operational efficiency and effectiveness. Our experience with Partners in Quality as well as our experience with the quality leadership process supports a recent quote in the Harvard Business Review: "Quality is not just a slogan...(it is) the most profitable way to run a business."     

Supply chain integration and shareholder value: Evidence from consortium based industry exchanges

Recent trade and academic literature point to the importance of supply chain integration among partners as a key determinant of value creation. This paper analyzes the shareholder value effects of setting up industry exchanges, a prominent mechanism used to achieve supply chain integration. Shareholder value effects are estimated by measuring the stock market reaction (abnormal returns) associated with announcements to form or join industry exchanges. We find that abnormal returns from participation in industry exchanges are positive but only marginally significant in the whole sample of 144 firms in 18 exchanges formed during 2000–2001. In the sub-sample of 88 exchange founders who were part of the original announcements to form the exchange, the abnormal market reaction is about 1% and significant. We also find that firms with greater bargaining power and higher process efficiency benefit more from participation in industry exchanges.     

Soft budgets and hard rents: a note on Kornai and Gomulka

This note shows how Kornai's concept of the soft budget constraint can be decomposed into separate elements of technical inefficiency and relative price distortion. The distinction between r-budget softness and m-budget softness introduced by Gomulka is shown to correspond to the equivalent and compensating variation measures of efficiency loss. It is also argued that budget softness should be viewed as the outcome of a rent-seeking process in which a firm's action in the control sphere incurs an opportunity cost in the real sphere. Adopting such a perspective leads to a re-definition of the resource loss associated with budget softness and results in much higher estimates of the social costs of soft budgets than those proposed in the existing literature.