How Does a Covenantal Approach to Developing Organizational Leadership Affect Innovation?

As organizations grow, they become more hierarchical and less adaptive; thus, innovation and intrapreneurship suffer. A covenantal approach to organizational behavior and leadership can facilitate organizational flexibility and adaptability to foster further innovation by engendering empowerment and deeper, more meaningful engagement among leadership and followers. A covenant is a morally informed agreement among two or more parties who commit to care for one another and protect one another's rights. Noncentralization, participative decision making, active dialog and big picture thinking are all encouraged by a covenantal approach, which in turn helps to foster innovation.     

Monetary Policy, Delegation and Polarisation

This paper studies the relation between political polarisation and delegation of stabilisation policy. There is asymmetric information about how the economy works: unlike voters, two political parties know the variance of an employment shock. Prior to an election each party proposes a central banker to be chosen if the party wins. If political polarisation is small, voters will learn the true variance and the central banker and the stabilisation policy are the ones most preferred by the median voter. If the political polarisation is high, stabilisation policy does not reflect the variance but only the preferences of the winning party.     

Introduction to the Special Issue: Toward “Digital Leisure Studies”

This introduction as well as this entire special issue begin with the idea that for leisure scholars to stay relevant in our current society, the topic of digital leisure spaces and cultures should become a central rather than periphery focus. We suggest three courses of action for leisure scholars engaging in digital leisure scholarship: 1) We should emphasize what people do with the majority of their leisure time, 2) we should study it in a way that is timely and accessible, and 3) we should do so with a focus on social and environmental justice. This article introduces the special edition by providing a review of the key theorists currently working on digital leisure studies and an introduction of key concepts. We conclude with a Wikipedia page on digital leisure studies and an invitation to you, our reader, to help us write, think, and theorize the future of digital leisure studies.     

Consumer-driven media planning and buying

Media planning and buying has historically focused on efficient message distribution. Thus, most media planning approaches have focused on optimization models based on estimated reach and frequency. Those models assumed a hierarchy of effects base where consumers move through a purchasing journey driven by assumed media exposures. In this exploratory paper, an argument is made for a consumer-generated media consumption model. Thus, their focus is on media influence rather than simply exposures. The model is demonstrated with data from a US-based online consumer data-set. The authors posit technology has made their approach superior to traditional models. A set of managerial implications is included.     

Mispricing of dual-class shares: Profit opportunities,arbitrage, and trading

This is the first paper to examine the microstructure of how mispricing is created and resolved. We study dual-class shares with equal cash flow rights and show that a simple trading strategy exploiting gaps between their prices appears to create abnormal profits after transactions costs. Trade and quote data show that investors shift their trading patterns to take advantage of gaps. Contrary to common perception, long–short arbitrage plays a minor part in eliminating gaps, and one-sided trades correct most of them. We also show that the more liquid share class is usually responsible for the price discrepancies.     

The impact of loneliness on compliance with COVID-19 prevention guidelines

Many individuals have been reluctant to follow the COVID-19 prevention guidelines (e.g., wearing a mask, physical distancing, and vigilant handwashing) set forth by the U.S. Center for Disease Control to reduce the spread of COVID-19. In this research, we use reciprocal altruism theory to investigate the role of loneliness and its impact on compliance with these guidelines. Our findings indicate that lonely individuals are less willing to comply with COVID-19 prevention guidelines than non-lonely individuals. Process evidence suggests that this occurs as loneliness can inhibit an individual's sense of obligation to reciprocate to others. However, we demonstrate that framing information about COVID-19 through agentic (vs. communal) advertising messaging strategies can offset the negative impact of loneliness on compliance with COVID-19 prevention guidelines. Thus, marketers and policymakers may want to consider the important role of loneliness when tailoring messaging appeals that encourage compliance with COVID-19 prevention guidelines.     

The effect of causal knowledge on individuals' perceptions of nonfinancial performance measures in profit prediction

Although organizations commonly report nonfinancial performance measures (NFPMs) associated with profitability, prior research does not address the extent to which the provision of causal knowledge affects individuals' perceptions of the predictive content of such measures. This study examines how providing NFPMs together with different types of causal knowledge (i.e., strong, weak, or none) affects the perceived usefulness of the measures in a profit prediction context. Weak causal knowledge is defined as the direction of the relationship between an NFPM and earnings, while strong causal knowledge is a complete explanation underlying the relationship. The results provide evidence that providing weak causal knowledge increases individuals' perceptions of the predictive content of an NFPM compared to providing no causal knowledge; however, providing strong causal knowledge does not incrementally affect perceptions beyond providing only weak causal knowledge. These findings have implications for the type of information organizations report concurrently with NFPMs.     

The impact of media on the legitimacy of new market categories: The case of broadband internet

Building on research in institutional theory and market categories, we argue that media coverage, through the effects of cognitive and sociopolitical legitimacy, influence the creation of new market categories. Using data on the broadband access industry, we develop and test a media coverage model of market category entries, demonstrating the legitimacy effects of media-based information exchange on the emergence of new market categories. We include two post hoc analyses on mediation effects to test the relationship between population density and media coverage. These results indicate a possible mediation relationship, which we discuss in the implications of our study.