Evidence of Stock Returns and Abnormal Trading Volume: A Threshold Quantile Regression Approach

This paper presents a capital asset pricing model‐based threshold quantile regression model with a generalized autoregressive conditional heteroscedastic specification to examine relations between excess stock returns and “abnormal trading volume”. We employ an adaptive Bayesian Markov chain Monte Carlo method with asymmetric Laplace distribution to study six daily Dow Jones Industrial stocks. The proposed model captures asymmetric risk through market beta and volume coefficients, which change discretely between regimes. Moreover, they are driven by market information and various quantile levels. This study finds that abnormal volume has significantly negative effects on excess stock returns under low quantile levels; however, there are significantly positive effects under high quantile levels. The evidence indicates that each market beta varies with different quantile levels, capturing different states of market conditions.     

The Impacts of Promotions/Marketing, Scheduling, and Economic Factors on Total Gross Revenues for Minor League Baseball Teams

The purpose of this empirical study is to identify the key marketing and scheduling determinants of game attendance at minor league baseball games. Identification of such marketing and scheduling factors can provide the management of minor league teams in similar environments with information to more efficiently pursue the goal of game attendance maximization. To ensure greater comparability of data between teams and hence relevance of results, this study focuses upon a single grouping of teams, the Carolina League, and a single minor league baseball season, 2006. The Carolina League consists of eight teams serving eight metropolitan areas: Lynchburg City, VA; Winston-Salem, NC; Wilmington, DE; Salem City, VA; Myrtle Beach, SC; Prince William County, VA; Lenoir City, NC; and Frederick County, MD.     

Salespeople’s use of upward influence tactics (UITs) in coping with role stress

Researchers’ attentions have recently focused on how salespeople cope with role stress. This study focuses on salespersons’ use of six upward influence tactics (UITs) with the immediate sales manager, and how salespeople use UITs to lessen the impact of two role stressors (perceived role conflict and role ambiguity) associated with the sales job. The study also evaluates the potential moderating role of UITs on relationships between role stress and manager satisfaction and propensity to leave. Analysis of data gathered from a heterogeneous sample revealed differences in use of UITs between salespeople classified as either high or low in role stress. Salespeople who perceive high role conflict employ assertiveness and upward appeal UITs more frequently. Salespeople who perceive high role ambiguity use exchange and coalition-building UITs more frequently. Results also suggest that salespersons’ use of assertiveness and ingratiation UITs exacerbate relationships between perceived role ambiguity and two outcomes: satisfaction with supervisor and propensity to leave. Implications of the study findings for sales managers are reviewed, as are implications for further research. His research interests are in the areas of personal selling and sales management. His work has appeared inJournal of Education for Business, Journal of Marketing Theory and Practice, and various national and international conference proceedings. Jeffrey K. Sager, Ph. D., conducts research in the areas of salesperson turnover and job stress. His work has appeared in theJournal of the Academy of Marketing Science, Journal of Personal Selling and Sales Management, andJournal of Business Research. His research interests are in the fields of strategic management and organizational behavior. His research has been published in theAcademy of Management Journal, Journal of Applied Psychology, and several other journals.     

Small is beautiful: Implications of reliability and statistical power for testing the efficacy of HR interventions

The development of optimal human resource practices is often contingent on the accurate statistical testing of potential interventions. Testing the efficacy of HR interventions can be enhanced by taking additional measures to improve statistical power, but the traditional means of increasing power through sample size are often beyond the cost and ability of HR professionals to pursue. This article, therefore, focuses on measurement procedures as an alternative way to increase statistical power for detecting HR intervention effects. Selection of reliable and appropriate measures and subsequent instrumentation are examined as efficacious and cost‐beneficial techniques that can be employed during the planning and designing stage of a study for augmenting statistical power to optimize business decision making. © 2012 Wiley Periodicals, Inc.     

Connectivity and work dominance: Panacea or pariah?

Does technologically-supported work connectivity help young managers and professionals under the age of 45 deal with the pressing demands of their work, or does the presence of work-connecting technologies exacerbate the tendencies of this talent force to engage in more work and longer working hours? Utilizing both surveys and follow-up focus group interactions, this study found that while work-connecting technologies permitted a greater range of options regarding when and where work was done, this same connectivity provided constant availability to work and often drove expectations that more must be done, thereby increasing the likelihood of longer work hours and—surprisingly—leading to a diminished sense of flexibility. Study participants offer insights regarding the thought processes behind these outcomes. Perspectives on how emerging leaders and their organizations can effectively manage and achieve the potential of enhanced connectivity are provided. A four-phased approach is recommended. First, we discuss key cultural dynamics. Second, the role of organizational expectations and practices is emphasized. Third, we consider a set of responsibilities for organizational leaders, whose actions and cues provide the most vivid clarity for young managers attempting to decide where to draw the work/life balance line. Finally, the challenge and responsibility of personal accountability is presented. Consideration of a work paradigm that reorients our thinking about traditional “face time,” and strives to bridge the gap between the potential and pervasive impact of work-connecting technologies, is also included.     

The Status of Econometrics in the Economics Major: A Survey

In this article, the authors describe the place of econometrics in undergraduate economics curricula in all American colleges and universities that offer economics majors as listed in the U.S. News & World Report “Best Colleges 2010” guide (U.S. News & World Report 2009). Data come from online catalogs, departmental Web sites, and online course syllabi. About one-third of the schools require econometrics of all students majoring in economics, about half require it of none, and a sixth require it of some, but not all, economics majors. Among universities with economics PhD programs and liberal arts colleges, almost all those ranked in the top 10 require it. Below the top 10, there is little correlation between ranking and econometrics requirements. Liberal arts econometrics classes are much more likely to require research projects than their counterparts in universities.