Hard,soft or ambidextrous? Which influence style promotes managers’ task performance and the role of political skill

Abstract

Ambidexterity at the manager level focuses on the crucial, but underexplored, role of managers’ knowledge, skills, and behaviors to address competing demands and promote organizational ambidexterity. As such, to successfully complete their assigned duties, managers need to employ the appropriate interpersonal style and calibrate their behavior to different contextual demands. This study highlights the role of the individual in the ambidexterity process by introducing the concept of influence tactic ambidexterity, to denote the frequent use of both hard and soft influence and investigating its role on task performance. Drawing on the literature on ambidexterity and HRM, we analyze data from a sample of 172 middle managers and their corresponding 68 supervisors working for multinational organizations, and provide evidence that influence tactic ambidexterity relates to higher levels and less variation in managers’ task performance compared to the sole use of either hard or soft tactics. Our findings also show that political skill positively moderates the relationship between influence tactic ambidexterity and a manager’s task performance. Therefore, this study suggests that influence tactic ambidexterity and political skill can be considered valuable HR assets for managers.     

Costos empresariales y reglamentación del trabajo en Sudáfrica

Los indicadores de las normas laborales publicados en el estudio del Banco Mundial Doing Business 2007 son ambiguos sobre la naturaleza e intensidad de la reglamentación del trabajo en Sudáfrica. Estos indicadores, al centrarse exclusivamente en la legislación, dan una imagen parcial, por lo que los autores exploran tres posibles elementos para ampliarlos con miras a trazar un panorama más realista de la situación normativa del mundo del trabajo: la «microlegislación>>, las instituciones la-borales y la interpretación judicial. Abogan por que se tengan muy presentes estos elementos al valorar el ordenamiento laboral.     

国外顾客满意形成机理研究及其启示--由市场失衡引起的理论思考

顾客满意的形成机理是近年来营销领域的一个研究热点。由于产品或服务本身属性的不同以及消费环境的差异，顾客满意形成的内在机理是不同的。本文从认知性评价和顾客情感两个维度对目前国外有关顾客满意形成机理的研究成果进行介绍，并指出其对我国企业营销实践的启示。     

大运之后更精彩——恩华特封闭式垃圾自动收集系统成为深圳大运村环保亮点

恩华特封闭式垃圾自动收集系统极大程度地免除了异味,杜绝了二次污染,大幅降低了疾病传播的风险,是社区垃圾收集方式革命性的突破,为提高社区规划设计、美化社区形象、提升物业价值提供了有力的支持。     

Nicky Gavron:伦敦的转变

Nicky Gavron分析了伦敦在城市发展中遇到的问题,分享了扭转这一局面的一些措施:建绿化带来阻止城市无章法地蔓延;建高密度的混合功能社区,改善公共交通模式;引导居民使用可持续的建筑和设计;减少碳排放,提高能源使用率;设立气候变化处;投资公共交通及创新性措施——收取拥堵费等。     

The Impact on UK Acquirers of Domestic, Cross‐border, Public and Private Acquisitions

Abstract:   We examine the announcement and post‐acquisition share returns of UK acquirers in over 4,000 acquisitions of domestic, cross‐border, public and private targets. Domestic public acquisitions result in negative announcement and post‐acquisition returns, whilst cross‐border public acquisitions result in zero announcement returns and negative post‐acquisition returns. In contrast, both domestic and cross‐border private acquisitions result in positive announcement returns and zero post‐acquisition returns. The main differences between private and public acquisitions are that glamour acquirers underperform in public acquisitions but not in private acquisitions, and that acquirers using noncash methods of payment underperform in domestic public acquisitions but not in domestic private acquisitions. Overall, cross‐border acquisitions result in lower announcement and long run returns than domestic acquisitions. In cross‐border acquisitions, those involving high‐tech firms perform relatively well, as do those with low national cultural differences.     

Estimating Returns on Commercial Real Estate: A New Methodology Using Latent-Variable Models

Despite their widespreao use as benchmarks of U.S. commercial real estate returns, indexes produced by the National Council of Real Estate Investment Fiduciaries (NCREIF) are subject to measurement problems that severely impair their ability to capture the true risk–return characteristics–especially volatility–of privately held commercial real estate. We utilize latent-variable statistical methods to estimate an alternative index of privately held (unsecuritized) commercial real estate returns. Latent-variable methods have been extensively applied in the behavioral sciences and, more recently, in finance and economics. Unlike factor analysis or other unconditional statistical approaches, latent variable models allow us to extract interpretable common information about unobserved private real estate returns using the information contained in various competing measures of returns that are measured with error. We find that our latent-variable real estate return series is approximately twice as volatile as the aggregate NCREIF total return index, but less than half as volatile as the NAREIT equity index. Overall, our results strongly support the use of latent-variable statistical models in the construction of return series for commercial real estate.     

The formation of forward freight agreement rates in dry bulk shipping: Spot rates,risk premia,and heterogeneous expectations

We examine the formation of forward rates in the dry bulk shipping industry. We illustrate that the bulk of basis volatility can be attributed to expectations about future physical market conditions rather than expectations about future risk premia. However, there exists significant predictability of risk premia by both price-based signals and economic variables. To explain this finding, we develop a dynamic asset pricing framework where, apart from having different objective functions, agents might also differ in the way they form expectations about future market conditions. Accordingly, we argue that the average investor should hold “near-rational” but slightly contrarian beliefs.