International knowledge transfers through expatriates

International knowledge transfer processes and related internal stickiness factors have recently been targets of increasing research interest. However, the role of expatriate managers in these international knowledge transfers is not well understood. The objectives of the present study were (1) to analyze what kind of knowledge is transferred within MNCs and what is the role of expatriates in these transfer processes and (2) develop a theoretical framework on internal stickiness factors faced by the expatriates involved in the knowledge transfer processes on the basis of the literature, and test it empirically. The findings indicate that the role of expatriate managers was very central in the transfer processes. Furthermore, support was received for the theoretical framework of internal stickiness factors. © 2004 Wiley Periodicals, Inc.     

Building regional visionary capability. Futures research in resource-based regional development

In the present study, regional visionary capability is seen as a crucial factor in building regional competitive advantage under the present techno-economic paradigm. Regions are considered as strongly path-dependent entities needing to create new, even radical, paths to stay competitive in a rapidly changing world. The Regional Development Platform Method (RDPM) is presented as an innovative tool in developing regional innovation systems. The RDPM consists of eight phases and the focus of the present article is on the fourth phase of the RDPM: the search for new regional development paths and building regional visionary capability. The RDPM has been tested in the Lahti (Finland) regional innovation system revealing the need to develop the fourth phase further.     

Leadership ideologies among European managers: A comparative survey in a multinational company

Adopting a subjective culture approach, the present study focuses on managers' beliefs about ideal leadership behaviour in organizations (i.e. leadership ideologies). On the basis of reported cultural dimensions which distinguish countries from one another, it is expected that the national origin of European managers will significantly influence their ideologies. The findings provide support for this assumption, since significant differences appeared between countries in eight aspects of leadership. Finally, the findings are compared with existing knowledge of cultural variation between these countries.     

Market pricing of executive stock options and implied risk preferences

When managers get to trade in options received as compensation, their trading prices reveal several aspects of subjective option pricing and risk preferences. Two subjective pricing models are fitted to show that executive stock option prices incorporate a subjective discount. It depends positively on implied volatility and negatively on option moneyness. Further, risk preferences are estimated using the semiparametric model of Aït-Sahalia and Lo (2000). The results suggest that relative risk aversion is just above 1 for a certain stock price range. This level of risk aversion is low but reasonable, and it may be explained by the typical manager being wealthy and having low marginal utility. Related to risk aversion, it is found that marginal rate of substitution increases considerably in states with low stock prices.     

Performance through measuring leader's profiles: An empirical study

It is rather typical in organizations that the oldest or the most experienced professionals are taken into the leaders’ positions. However, the expertise in profession does not always refer to good skills in leadership. This phenomenon is recognized both in earlier studies and in this study. Leadership skills can be taught successfully to leaders in duty. The empirical results report from polarized success of organizations according to the leadership behavior. Hence, leadership behavior should be a natural part of performance measurement in order to manage and improve in the area.     

Organising new business in a turbulent context: Opportunity discovery and effectuation for IJV development in transition markets

Research on entrepreneurship has suggested entrepreneurial phenomena to take place in a wide variety of contexts that deal with new venture emergence. Opportunity discovery and effectuation are seen as the essence of entrepreneurship. The present study examines entrepreneurial behaviour in the organising of an international joint venture (IJV) in Polish transition markets. The paper aims to answer the following question: How is an international joint venture organised in turbulent context through opportunity-discovery and effectuation behaviours? Based on theoretical analysis and a longitudinal case study, we illustrate the organising of an international joint venture in transition markets through specific behaviours of opportunity discovery and effectuation. We show especially the relationship-based nature of all the behaviours. The study advances international entrepreneurship research by emphasising the intertwinedness of the entrepreneurial behaviours with the drastic developments in the transition markets and the evolution of the IJV partnership.     

Do the catholic and protestant countries differ by their tax morale?

Does the tax morale differ between various countries? The paper introduces a model of tax evasion. The equilibrium shadow production is determined by consumers’ and entrepreneurs’ tax morale, affected by the inherited culture or religion. The model suggests that in the conditions of the prisoners’ dilemma, shadow economies tend to be large once a moral code is violated. The implications of the model are tested in the OECD data on groups of countries with different religious denominations in two regimes, 1979–1992 and 1992–2003. We find evidence on a link between tax morale and shadow market activities, but none to support the view that tax morale differs between the catholic south and protestant north in Europe.