Drivers of sales performance: a contemporary meta-analysis. Have salespeople become knowledge brokers?

It has been 25 years since the publication of a comprehensive review of the full spectrum of sales-performance drivers. This study takes stock of the contemporary field and synthesizes empirical evidence from the period 1982–2008. The authors revise the classification scheme for sales performance determinants devised by Walker et al. (1977) and estimate both the predictive validity of its sub-categories and the impact of a range of moderators on determinant-sales performance relationships. Based on multivariate causal model analysis, the results make two major observations: (1) Five sub-categories demonstrate significant relationships with sales performance: selling-related knowledge (β = .28), degree of adaptiveness (β = .27), role ambiguity (β = −.25), cognitive aptitude (β = .23) and work engagement (β = .23). (2) These sub-categories are moderated by measurement method, research context, and sales-type variables. The authors identify managerial implications of the results and offer suggestions for further research, including the conjecture that as the world is moving toward a knowledge-intensive economy, salespeople could be functioning as knowledge-brokers. The results seem to back this supposition and indicate how it might inspire future research in the field of personal selling.     

Human resource manager insights on creating and sustaining successful reduced‐load work arrangements

Although human resource managers have critical insights into the successful implementation of reduced‐load work arrangements, relatively few studies focus on their perspective. These arrangements are a growing work form for employees who choose to work less than full‐time with a commensurate decrease in salary. Qualitative data analysis was used to identify key success factors noted in interviews with 52 HR managers in 39 companies. Individual employee characteristics (e.g., self‐regulatory work habits) were viewed as most critical. Also important were the design of the arrangement (e.g., clarifying the arrangement in advance) and workgroup relationships (e.g., positive supervisor‐employee relationships). We conclude with eight new takeaways for HR managers on how to create and sustain successful reduced‐load work arrangements and directions for future research and practice. © 2008 Wiley Periodicals, Inc.     

WHY SOCIAL PREFERENCES MATTER – THE IMPACT OF NON-SELFISH MOTIVES ON COMPETITION, COOPERATION AND INCENTIVES

A substantial number of people exhibit social preferences, which means they are not solely motivated by material self-interest but also care positively or negatively for the material payoffs of relevant reference agents. We show empirically that economists fail to understand fundamental economic questions when they disregard social preferences, in particular, that without taking social preferences into account, it is not possible to understand adequately (i) effects of competition on market outcomes, (ii) laws governing cooperation and collective action, (iii) effects and the determinants of material incentives, (iv) which contracts and property rights arrangements are optimal, and (v) important forces shaping social norms and market failures.     

Comparing evolutionary dynamics across different national settings: the case of the synthetic dye industry, 1857–1914

Current models of industry evolution suggest that development patterns should be the same across different levels of analysis. In comparing the evolution of the synthetic dye industry at the global level and in the five major producer countries before World War I (Britain, Germany, France, Switzerland and the United States), it is shown that patterns of industry evolution differed significantly across national contexts. Based on a quantitative and qualitative database of all firms and plants in the industry, the paper analyzes how German firms came to dominate the industry and identifies factors such as availabilities of crucial skills, economies of scale and scope, and positive feedback mechanisms between firms and national institutions that likely produced these national differences. The empirical analysis calls for formal models of evolution that incorporate differences in institutional environments.     

The causes of bank failures: deflationary spells

Unexpected reductions in inflation induce debtor insolvency and bank failures with lags of up to eight years. Outside money is non-neutral because the default of marginal banks and the rising costs of surviving banks reduce the supply of monetary services.     

On Modeling Questions In Security Valuation

After mentioning some deficiencies of the standard Black-Scholes model for the valuation of call options, we discuss discrete models which allow price changes of the underlying security at discrete time points only. It is shown that, given any distribution with a moment higher than 2, the paths of the Black-Scholes stock price process can be approximated uniformly as closely as one wishes by discrete paths generated by this distribution. Based on this approximation, discrete-time trading strategies are defined. Convergence (in measure and almost surely) of the corresponding financial gain processes is obtained. the results show the robustness of the Black-Scholes model.     

Cost effects of mergers and deregulation in the U.S. Rail industry

We attempt to disentangle the effects of deregulation on rail costs from those directly attributable to mergers and acquisitions, employing a translog variable cost function, based on an unbalanced panel data set of annual observations for major U.S. Class I railroads from 1974 to 1986. We find that both deregulation and mergers contributed significantly to cost savings. However, of the accumulated cost savings achieved by the six major firms involved in mergers postderegulation, we estimate that by 1986 about 91% of the reduction in accumulated costs is due to deregulation, and about 9% is directly due to mergers and acquisitions (which in turn were facilitated by regulatory reforms).     

The employer as social arbiter: Considerations in limiting involvement in off-the-job behavior

This article analyzes the trend of increasing employer involvement in social issues through human resource policies that influence employee behavior off the job and away from the workplace. Many employers are increasingly acting as social arbiters—regulators of the private conduct, personal behaviors, and habits of their employees. Relying on historical perspectives from (1) an exchange transaction economic view of the employment relationship, and (2) the origins and nature of the corporate form, a framework is developed to analyze the conditions under which employer involvement in employee personal matters may be appropriate. Our criteria generally guide an employer to act conservatively in invoking mandatory policies that affect employees' personal lives unless there is a clear individual employee performance problem or the personal behavior imposes harm on employees or customers. Two tests should be satisfied for mandatory programs: (1) the policy must have a discernible impact on the employee's performance on the current job based on individually based data, or (2) the behavior poses an immediate danger to or has an established discernible impact on the safety of co-workers or customers. The difficulties that may arise in administering specific polices such as no smoking, drug and medical testing, child care, and fitness policies are discussed.