Earnings conference calls and stock returns: The incremental informativeness of textual tone

Quarterly earnings conference calls are becoming a more pervasive tool for corporate disclosure. However, the extent to which the market embeds information contained in the tone (i.e. sentiment) of conference call wording is unknown. Using computer aided content analysis, we examine the incremental informativeness of quarterly earnings conference calls and the corresponding market reaction. We find that conference call linguistic tone is a significant predictor of abnormal returns and trading volume. Furthermore, conference call tone dominates earnings surprises over the 60 trading days following the call. The question and answer portion of the call has incremental explanatory power for the post-earnings-announcement drift and this significance is primarily concentrated in firms that do not pay dividends, illustrating differences in investor behavior based on the level of cash flow uncertainty. Additionally, we find that a context specific linguistic dictionary is more powerful than a more widely used general dictionary (Harvard IV-4 Psychosocial).     

Creating and sustaining a strategic partnership: A model for human resource development

Human resource development (HRD) leaders have been challenged to become strategic business partners in order to link people, strategy, and performance. In spite of a critical need, there has not been an empirically testable systemic framework that pulls together the wide variety of strategic imperatives that have been suggested. This article presents a conceptual model identifying the essential system elements that provide a framework for how HRD might create and then sustain its full leadership potential as a strategic partner.     

Mobile devices in the lecture hall: Into it,indifferent, or intrusion?

The authors explored undergraduate business students’ feelings and thoughts about themselves, other students, and their professors when mobile devices are used in the lecture hall for nonacademic purposes. Specifically, they investigated mobile device use during class time, and whether students support it, are indifferent toward it, or consider it to be an intrusion. Using the critical incident technique, the authors thematically categorized students’ thoughts and feelings regarding mobile device usage in the classroom for nonacademic purposes. The results uncovered unique perspectives presented by the students that carry implications for students, professors and administrators.     

Welfare Policy and Precarious Lives: “Welfare Reform” Revisited

Abstract:

Although welfare reform has not been one of the most highly visible policy agendas for the Trump administration, restricting access to public assistance programs has been a part of proposals and actions in a number of areas. The Trump administration’s overall approach to welfare reform was articulated formally in 2018 in an Executive Order and a Council of Economic Advisers Report. To provide some context for a discussion of these two documents, the article begins with a discussion of the different meanings of “welfare reform” identified in institutionalist literature, and a brief overview of some important findings on the impacts of the 1996 welfare reform. It then highlights some key aspects of the Trump administration’s approach to welfare reform and responses from the poverty research and advocacy community.     

Data-mining,GIS and multicriteria analysis in a comprehensive method for bicycle network planning and design

In many Brazilian cities, the most common procedure for planning cycling networks is using aggregated population data in census tracts, which may not take into account the true origin and destination of trips. It may also not identify potential users of a particular mode of transport. This is particularly important considering that implementing cycling infrastructures should be based on the assumption that they are able to meet the users' needs. Therefore, the aim of this study is to develop and adopt an objective method to design and compare cycling networks based on data-mining of disaggregated origin-destination data, GIS resources, and multicriteria analysis techniques. The method follows three steps: 1) identifying potential users based on real user profiles, 2) designing proposed cycling networks and 3) a comparison between the networks proposed in this study and those developed by the municipality selected as a case study, considering real and potential users, as well as cost and benefit criteria. As a positive outcome, using disaggregated data allows for a reasonable estimate of the number of people served by the networks, a detailed analysis of their proximity to the infrastructure, as well as identifying potential users. Comparing cycling networks considering cost and benefit criteria shows that the chosen criteria were effective. It was also determined that the cycling network of the studied city poorly serves bicycle transport users, if compared to the proposed networks. These findings indicate that appropriate methods for planning cycling networks are still needed.     

Research on unionized grievance procedures: Management issues and recommendations

This paper critically reviews research on unionized grievance procedures to identify key issues for human resource/labor relations executives and to provide recommendations for dealing with these issues. The review covers psychological, sociological, economics, and industrial relations‐based research. Specifically, the authors recommend that senior human resource/labor relations executives and their staffs conceptualize the grievance procedure as a high involvement human resource practice, distinguish between the presence and use of grievance procedures, use grievance data to determine whether grievants or their supervisors suffer management reprisals, assess supervisors' dominant orientation toward employees, determine employee perceptions of grievance procedure fairness, and monitor the effects of work force composition and supervisor selection on grievance activity. © 2000 John Wiley & Sons, Inc.     

Dynamics of the Market for Medical Malpractice Insurance

Public attention has been directed recently at the market for medical malpractice insurance, yet disagreement persists over whether this market has changed and, if so, what has caused this change. In this study, we examine factors that affect the market for this insurance, including the growth in premiums, losses, and investment earnings, and loss variability. Our analysis suggests that there was significant deterioration in the market for medical malpractice insurance beginning in 1998 and culminating in 2001. We conclude that insurers' losses are the primary driver of the market deterioration during the period 1998 through 2003.     

The relationship between ownership and possession: observations from the context of digital virtual goods

This theoretical article highlights limitations in the current trend towards dichotomising full ownership and access-based consumption by recognising a broader, more complex array of ‘fragmented’ ownership configurations in the context of digital virtual goods (DVGs). In challenging this dichotomy, we recognise that the relationship between ownership and possession becomes particularly significant. We therefore consider how prominent DVG ownership configurations may shape the way in which possession is assembled, potentially reducing consumers’ scope of action relative to DVGs and leaving possession susceptible to disruption. Conversely, we acknowledge ways in which consumers’ continued attempts at possession may impinge upon the agency of ownership mechanisms within the market. Our analysis ultimately builds upon existing understandings of both ownership and possession, theorising their often overlooked relation in consumption.     

Beyond ‘know-what’ and ‘know-how’ to ‘know-who’: enhancing human capital with social capital in an Australian start-up accelerator

Abstract

This study investigates the enhancement of human capital with social capital in a start-up accelerator and how this integration affects the entrepreneurial learning experience. In particular, it examines the relative importance of the three components ‘know-what’, ‘know-how’ and ‘know-who’. The study involved thematic analysis of semi-structured interviews with participants in an Australian start-up accelerator that is delivered using ideas such as Design Thinking, the Business Model Canvas and Lean Start-up methodology. We find that although the programme emphasised ‘know-what’ and ‘know-how’, ‘know-who’ was most significant for participant learning. The results indicate that mentors and experts were especially helpful in shaping learning and in developing entrepreneurial networks. Moreover, our results show that the processes of ‘know-what’, ‘know-how’ and ‘know-who’ are interrelated – by knowing ‘who’, participants learnt ‘what’ and ‘how to’ through social learning. The research contributes to entrepreneurial learning theory and application particularly in the Asia Pacific context, by providing evidence that ‘know-who’ closes the learning loop for ‘know-what’ and ‘know-how’ as ‘know-who’ can actually provide entrepreneurs with the means to enhance their entrepreneurial self-efficacy.