How Useful Are the Strategic Tools We Teach in Business Schools?

Strategic tools are indispensible for business and competitive analysis. Yet we know very little about managers' internal logic as they put these tools into practical use. We situate our study in a business school context using action learning prior to the manifestation of practice to complement our understanding of practice. Using Personal Construct Theory and Repertory Grids, our mid‐range theorizing showed that, contrary to current thinking about strategic tools, managers think in dualities (often paradoxically) and have a preference for multiple‐tools‐in‐use, tools that provide different perspectives, peripheral vision, connected thinking, simultaneously help differentiate and integrate complex issues, and guide the thinking process. These findings are important for designing better tools and the nurturing of critical managerial competencies needed for a complicated world. Our study's focus also has wider implications for scholars as we see our own material evaluated by those who will put these lessons into practice.     

Asymmetric shocks among U.S. states

The paper applies a factor model to the study of risk sharing among U.S. states. The factor model makes it possible to disentangle movements in output and consumption due to national, regional, or state-specific business cycles from those due to measurement error. The results of the paper suggest that some findings of the previous literature which indicate a substantial amount of inter-state risk sharing may be due to the presence of measurement error in output. When measurement error is properly taken into account, the evidence points towards a lack of inter-state smoothing.     

Dynamic Interplay of Visual and Textual Identification Strategies in Employees’ Magazines

This article explores how an organization’s identity is strategically communicated through texts and images in the employees’ magazines of a global Danish company with a worldwide readership of over 18,000 employees. Drawing on an interdisciplinary methodological framework related to organizational identification theory and social semiotics, it proposes a multimodal analysis model through which several identification strategies are explored at the level of each semiotic mode and at the level of their interplay. The article explains how identity is strategically communicated in accordance with the potential and constraints of texts and images. It claims that by exploring how these semiotic modes reinforce, complement or subvert each other, the identification strategies can be more thoroughly addressed. Shedding light on how the multimodal interplay contributes to communicate identity, this model can also be employed by communicators in order to nuance and improve their strategic communicative practice. By examining the semiotic modes’ complex interconnectivity and functional differentiation in the strategic communication of identity, this article expands the existing research work as the usual textual focus is extended to a multimodal one.     

Elasticity of substitution and the stagnation of Italian productivity

The aim of this paper is to investigate the roots of the stagnation in the Italian total factor productivity (TFP). The analysis focuses on the specific pattern of technical progress in determining the dynamics of the TFP. This analysis cannot be done with Cobb-Douglas technology, but requires the employment of a constant elasticity of substitution (CES) production function that allows distinguishing between the direction and the bias of technical progress. We employ a CES specification embodying both labor- and capital-augmenting technical change, with a σ less than 1. We obtain three main results. (1) There seems to have been a structural break around the mid-1990s in the direction and bias of technological change; (2) The first half of the sample features a labor-augmenting technical change and a capital bias; and (3) In the second part of the sample, both these characteristics seem to disappear, and the evolution of factor endowments assumes a key role. This fact may be seen as one of the potential causes of the stagnation in Italian productivity.     

Factors Influencing Corporate Environmental Disclosure

In this paper, we have studied the factors that influence the environmental disclosures of Italian listed companies. We also aimed to verify the effects produced by the introduction of specific legislation (albeit of a voluntary nature) on environmental disclosures. The analysis has the advantage of including all of the informational documents produced by the company. The analysis shows an (excessively) low level of disclosure of environmental information by the companies examined. The econometric analysis then shows, contrary to our hypothesis and the results of previous analyses carried out in other countries, a negative and statistically significant relationship between environmental disclosures, the presences of minority shareholders and large auditors and the listing of the company, including in foreign markets. We lastly observed that the introduction of ad hoc legislation as purely voluntary only affects the contents of quantitative environmental disclosures, which are unsuitable for a highly industrialized developed country. Copyright © 2014 John Wiley & Sons, Ltd and ERP Environment     

Run length analysis of Shewhart charts applied to drifting processes under an integrative SPC/EPC model

Engineering Process Controllers (EPC) are frequently based on parametrized models. If process conditions change, the parameter estimates used by the controllers may become biased, and the quality characteristics will be affected. To detect such changes it is adequate to use Statistical Process Control (SPC) methods. The run length statistic is commonly used to describe the performance of an SPC chart. This paper develops approximations for the first two moments of the run length distribution of a one-sided Shewhart chart used to detect two types of process changes in a system that is regulated by a given EPC scheme: i) changes in the level parameter; ii) changes in the drift parameter. If the drift parameter shifts, it is further assumed that the form of the drift process changes from a linear trend under white noise (the in-control drift model) into a random walk with drift model. Two different approximations for the run length moments are presented and their accuracy is numerically analyzed. Received: August 1998     

The Impact of American Politics on Perceptions of Women's Golfing Abilities

We examine the relationship between political environments and perceptions of women's physical abilities. Using a sample of 496 golf courses located in the United States, we find a significant relationship between state political affiliations, ratings of senators and congressional representatives on a liberal to conservative continuum, and perceptions of gendered physical abilities. Institutional theory is presented as an explanation for the regional variation in perceptions of women's golfing abilities. Implications and results are discussed. Suggestions for further research are presented.     

Electronic Finance: Reshaping the Financial Landscape Around the World

In recent years, the emergence of electronic finance—especially online banking and brokerage services, and new trading systems—has reshaped the financial landscape around the world. This paper reviews these developments and finds that they are greatly impacting the structure of and competition in financial services industries and will have a large impact on incumbents. Its assessment of how e-finance, and globalization more generally, affects countries highlights the need for changes in four financial sector policy areas—safety and soundness, competition policy, consumer and investor protection, and global public policies—to mitigate risks and reap as much as possible the potential benefits of e-finance.