2012 impact and thanks to reviewers

This editorial considers the impact of technology innovation management journals in relation to the Financial Times 45 (FT45). In doing so the often over looked importance of technology innovation management is illustrated. A thank you is also offered to our reviewers for 2012. This is critical as our reviewers are the foundation – unseen but critically important – to the journal's contribution to Technology Innovation Management     

The common and specific components of dynamic volatility

This paper develops a dynamic approximate factor model in which returns are time-series heteroskedastic. The heteroskedasticity has three components: a factor-related component, a common asset-specific component, and a purely asset-specific component. We develop a new multivariate GARCH model for the factor-related component. We develop a univariate stochastic volatility model linked to a cross-sectional series of individual GARCH models for the common asset-specific component and the purely asset-specific component. We apply the analysis to monthly US equity returns for the period January 1926 to December 2000. We find that all three components contribute to the heteroskedasticity of individual equity returns. Factor volatility and the common component in asset-specific volatility have long-term secular trends as well as short-term autocorrelation. Factor volatility has correlation with interest rates and the business cycle.     

Collective Representation Among High-Tech Workers at Microsoft and Beyond: Lessons from WashTech/CWA

The obstacles that discourage organizing among high-tech workers are well documented in the industrial relations literature. Discussion about factors that help workers overcome these obstacles, however, is sparse. This case study uses interviews and other evidence to analyze how high-tech workers formed the Washington Alliance of Technology Workers (WashTech/CWA). I find that WashTech/CWA improved constituents' working conditions through attempts to engage in collective bargaining, mutual benefit activities, and political action. WashTech/CWA is having greater success using mutual benefits, such as information and training services, and political action in part as a result of the obstacles workers encountered when trying to access collective bargaining.     

The Ethics of Managing People

"Employees have rights by virtue of employment law and the contract of employment. They also have a third right, however: that of being treated with respect…" What this implies is explored here in detail by the Senior Partner of Phoenix Human Resources Consultants, 17 Den Road, Shortlands, Bromley, Kent BR2 ONH. Ms Douglas originally gave this presentation at a meeting of The Ethical Business Forum at London Business School.     

Social Exchange in China: The Double-Edged Sword of Guanxi

We present two studies that examine the effects of guanxi on multiple social groups from the perspective of Chinese business people. Study 1 (N = 203) tests the difference in perceived effects of six guanxi contextualizations. Study 2 (N = 195) examines the duality of guanxi as either helpful or harmful to social groups, depending on the contextualization. Findings suggest guanxi may result in positive as well as negative outcomes for focal actors and the aggregate.