What explains the lagged-investment effect?

The best predictor of current investment at the firm level is lagged investment. This lagged-investment effect is empirically more important than the cash-flow and Q effects combined. We show that the specification of investment adjustment costs proposed by Christiano et al. (2005) predicts the presence of a lagged-investment effect and that a generalized version of their model is consistent with the behavior of firm-level data from Compustat.     

Gendering occupational identities and IT in the retail sector

This article investigates the influence of gendered occupational identities in the social construction of skill and technology in a retail company introducing an IT system. It focusses on female shop floor supervisors and considers the impact that 'femininity' had on definitions of skill and role during a period of change.     

The Positive Ethical Organization: Enacting a Living Code of Ethics and Ethical Organizational Identity

A vision of a living code of ethics is proposed to counter the emphasis on negative phenomena in the study of organizational ethics. The living code results from the harmonious interaction of authentic leadership, five key organizational processes (attraction–selection–attrition, socialization, reward systems, decision-making and organizational learning), and an ethical organizational culture (characterized by heightened levels of ethical awareness and a positive climate regarding ethics). The living code is the cognitive, affective, and behavioral manifestation of an ethical organizational identity. We draw on business ethics literature, positive organizational scholarship, and management literature to outline the elements of positive ethical organizations as those exemplary organizations consistently practicing the highest levels of organizational ethics. In a positive ethical organization, the right thing to do is the only thing to do. Amy Klemm Verbos is a Ph.D. candidate at the Sheldon B. Lubar School of Business, University of Wisconsin-Milwaukee, where she received a Chancellor’s Fellowship, Graduate Fellowship, Dissertation Fellowship, and C. Edward Weber Research Award. She co-authored ‚Positive Relationships in Action: Relational Mentoring and Mentoring Schemas in the Workplace’ in the forthcoming edited book, Positive Relationships at Work. Her work on positive organizing also has been presented at the Academy of Management Conference. Joseph A. Gerard is a Ph.D. student at the Sheldon B. Lubar School of Business at the University of Wisconsin-Milwaukee. He is a lecturer at the University of Wisconsin-Whitewater teaching organizational behavior, strategy, and accounting. He is a founding member of Ascent Organization Development LLC, which provides management consulting services to for-profit organizations in the areas of effectiveness and performance enhancement. Paul R. Forshey is a Ph.D. student in Organizations and Strategic Management at the Sheldon B. Lubar School of Business, University of Wisconsin-Milwaukee. His research interests include startup firms and firms in transition. Charles S. Harding is a Ph.D. student in Organizations and Strategic Management at the Sheldon B. Lubar School of Business at the University of Wisconsin-Milwaukee. Awarded a Chancellor’s Fellowship, his research interests include strategic decision-making and the role of value creation in strategy. Janice S. Miller is an Associate Professor at the Sheldon B. Lubar School of Business at the University of Wisconsin-Milwaukee where she has received the Business Advisory Council Award for Teaching Excellence. Her published work has appeared in Academy of Management Journal, Journal of Organizational Behavior, and Journal of Business Ethics among others. She received her Ph.D. in Human Resources Management from Arizona State University.     

The Depiction of African American Children's Activities in Television Commercials: An Assessment

This study involved a content analysis of the degree of portrayal and the favoribility of portrayal of African American children, as they were cast in various roles. It was hypothesized that these children would be less frequently and less positively portrayed in scholarly than in other roles and that scholarly depiction would vary among product classes. The research results did not support the first two but did support the third hypothesis. Various implications of the findings were drawn.     

“But we can't go back”

In 2004, a provincial cancer agency in Canada developed and implemented a provincewide Leadership Development Initiative (LDI) to enhance organizational leadership and relationships. Research using a quasi‐experimental survey design determined whether LDI implementation influenced the emotional health and leadership practices of LDI participants. An ethnographic approach (18 focus groups and 13 individual interviews) explored participants' perceptions of the LDI. This article presents qualitative findings that contribute to understanding the statistically significant findings of increasing levels of cynicism, emotional exhaustion, and burnout for most LDI participants. The LDI was regarded as a critical strategy for helping leaders grow and cope with change and help in changing organizational leadership culture to be more collaborative and inclusive. However, an organizational history of short‐lived, flavor‐of‐the‐month development initiatives and growing skepticism and disengagement by leaders represented in the themes of Catch‐22 and “there is no going back” contributes to understanding why these quantitative measures increased. Few studies have explored the hypothesis that real organizational development happens through a series of planned stages. In this study, leaders experienced escalating frustration because change was not seen to occur fast enough in “others” and reported that this was necessary before they would alter their own behavior. Leadership development programs in general need to reflect the reality that it takes considerable time, patience, and effort to effect fundamental change in leadership culture.     

Predicting stock splits with the help of firm-specific experiences

Evidence exists of abnormal stock returns at and following stock split announcements. The successful prediction of splits may therefore enhance investor returns, yet few studies attempt such forecasts. We note a neglected aspect of prior prediction studies—that companies enjoying a favorable stock market response to a previous split are more likely to split again. Firms in industries with a record of favorable post-split performance may also be more likely to split. We find that inclusion of these factors enhances split prediction accuracy. We also find that with these factors our split prediction model generates significant abnormal returns.     

Small Retailer and Service Company Accuracy in Evaluating the Legality of Specified Practices

This study examined the degree to which small retail and service company managers were familiar with important federal laws. Further, it assessed differences between these two types of firms in managerial cognizance of the regulations. The findings revealed reasonable knowledge of the federal restrictions, accompanied by some important inaccuracies. Generally, small retail managers were found to be more knowledgeable than small service company managers.