Repatriation: what do we know and where do we go from here

Abstract

The unparalleled growth in multinational corporations in recent decades has witnessed a commensurate rise in the deployment of expatriates to foreign subsidiaries and their subsequent repatriation. However, despite considerable progress in our understanding of the expatriation phase of international assignments, the literature on repatriation remains fragmented and incomplete. Plagued with problematic re-adjustments, high turnover rates, and a range of other obstacles, there is an urgent need for an improved understanding of repatriation. This study systematically reviews the repatriation literature over the previous four decades, identifies its major themes, gaps and limitations, and provides a framework that consolidates the literature and prompts future work in several important new directions.     

A new choice of dynamic asset management: the variable proportion portfolio insurance

The constant proportion portfolio insurance (CPPI) achieves the advantage of simplicity due to its constant multiple. However, a dynamic multiple could improve the effectiveness of portfolio management. In this article, we provide a complete and detailed examination of the mechanism of variable proportion portfolio insurance (VPPI) strategy. The multiple of the VPPI states that when the stock price goes up, the multiple gets larger accordingly and when the stock price goes down, the multiple gets smaller. A portfolio insurance strategy with this discipline could yield better performance. Based on this principle, we recommend an exponential proportion portfolio insurance (EPPI). In addition, we also propose a new performance measure for portfolio insurance. Compared with the CPPI, simulation and empirical evidence support that the EPPI works better in both upside capture and downside protection, implying that the EPPI could be an effective tool for asset management.     

A critical examination of Hofstede's thesis and its application to international reward management

Hofstede's model has been extensively used and applied in international management. This study begins with a critique of Hofstede's thesis. The applicability of his framework is then tested using a cross-cultural comparison of reward preferences in four countries. The findings reveal that although his framework provides both theoretical and practical contributions to the reward arena, the proposition that human values are conditioned solely by national culture ignores the potential influence of a variety of other contextual factors.     

Intraday time-series momentum: Evidence from China

This study conducts an investigation of intraday time-series momentum across four Chinese commodity futures contracts: copper, steel, soybean, and soybean meal. Our results indicate that the first half-hour return positively predicts the last half-hour return across all four futures. Furthermore, in metals markets, we find that first trading sessions with high volume or volatility are associated with the strongest intraday time-series momentum dynamics. Based on this, we propose an intraday momentum informed trading strategy that earns a return in excess of standard always long and buy-and-hold benchmarks.     

A Dynamic Analysis of Exchange Rate Exposure: The impact of China's Renminbi

This study examines the impacts of unexpected exchange rate movements of Chinese renminbi (CNY/USD) on stock returns of Standard & Poor's 500 corporations. To gain better insight into the long‐standing exposure puzzle concerning the divergence between theoretical and empirical investigation and the critical issue regarding the determinants of exposure, the time variation and asymmetry property associated with foreign exchange exposure are further taking into account. We also broaden the scope of analysis to investigate unexpected risk exposure at 10 economic sectors in compliance with Global Industry Classification Standard. Unlike those from the static analysis or dynamic ones with the ordinary least squares model, the empirical findings provide additional concrete evidence that unexpected exchange rate exposure varies substantially across time and market circumstances when using the quantile regression with a rolling method. Furthermore, our dynamic analysis not only supports the existence of industrial effects across different economic sectors, but also provides strong evidence that financial factors, such as size, debt ratio and book to market ratio, have a significant impact on exposure.     

When customers want to become frontline employees: an exploratory study of decision factors and motivation types

Labor shortages have long been an issue in the service industry. One pool of potential dedicated and skilled employees that has remained untapped is customers. This study explores the customer to frontline employee (CtFE) phenomenon: customers becoming frontline employees after consumption experience. Through one-on-one, in-depth interviews, we identify factors related to job choice and service experience influencing customers’ CtFE decisions. We also develop propositions and a conceptual framework to describe CtFE choices. Finally, we categorize potential CtFEs as idealist, dream-catcher, approval-seeker, and pragmatist. Our findings suggest that CtFEs can be a critical labor source in the service sector.     

The mediator effects of imagination between learning environment and academic performance: a comparison between science and engineering majors

The purpose of the present study was twofold: (1) to examine the mediator effects of imagination between learning environment and academic performance, and (2) to compare differences between the environment–imagination–performance structural models of science and engineering majors. A survey was administered at eight universities across different regions of Taiwan. The participants in this study were divided into two groups. The first group consisted of 529 science majors, whereas the second group consisted of 523 engineering majors. A confirmatory factor analysis was conducted to confirm the structure of the measures employed in this study. A structural equation modeling was used to test all the hypotheses proposed. With respect to the science group, our results showed that, through the mediation of imagination, learning resources had a dominant impact on academic performance, whereas both human aggregate and organizational measure had moderate influences. In contrast, among the engineering group, both human aggregate and social climate had relatively strong effects on academic performance, whereas both learning resources and organizational measure had mild influence. These findings seem promising enough to warrant further inquiry. They also provide insights for fields in which imaginative talent and creative performance are essential. Finally, practical applications of the present study were suggested, limitations were acknowledged, and future research was discussed.     

Core self-evaluation and workplace creativity

Drawing on the approach and avoidance framework in the core self-evaluation literature, this study proposes that core self-evaluation may not only prompt a person to acquire more job-related knowledge but may also inspire employees' intrinsic motivation for their jobs and indirectly help the person think of creative ideas at work. Surveying time-lagged data from workers in Taiwanese firms, this study finds support for the mediating effects of domain knowledge and intrinsic motivation. Although previous research has demonstrated the positive effect of core self-evaluation on overall work performance, scholars argue that creativity is a separate dimension of work performance and that factors conducive to overall work performance are not the same as factors that can stimulate creative ideas. Thus, findings from this study may expand scholarly knowledge about the consequences of core self-evaluation and complement the creativity literature by validating an individual-level antecedent to creativity yet unexamined in the creativity research.     

The Influence of Business School’s Ethical Climate on Students’ Unethical Behavior

Business schools play an instrumental role in laying the foundations for ethical behavior and socially responsible actions in the business community. Drawing on social learning and identity theories and using data collected from undergraduate business students (n = 318), we found that ethical climate was a significant predictor of unethical behavior, such that students with positive perceptions about their business school’s ethical climate were more likely to refrain from unethical behaviors. Moreover, we found that high moral and institutional identities strengthened the effect of ethical climate on unethical behavior. In addition to novel theoretical contributions to the business ethics and socio-psychology literature, this study offers practical pathways through which business schools can nurture and instill the values and behaviors that ultimately help shape positive organizational ethics. Directions for future research are provided.