The adoption of information technology in the sales force

The purpose of this article is to explain why salespeople adopt information technology. The results from a cross-sectional study of 229 salespeople indicate that putting sales technology to use strongly depends on salespeople's perceptions about the technology enhancing their performance, their personal innovativeness and organizational efforts in terms of user training. Throughout the adoption process companies also need to target sales line managers-next to end users-because salespeople clearly comply with the expectations of their supervisors. Finally, the threat from competing sales professionals or peers who use similar sales technology seems to be of secondary importance for individual sales technology adoption.     

Moving beyond the direct effect of SFA adoption on salesperson performance: training and support as key moderating factors

To our knowledge, this research is the first to focus on the critical moderating role that user training and support play on the relationship between the use of sales force automation tools and salesperson performance (i.e., effectiveness: percent-to-quota and efficiency: average number of calls per day). Hypotheses are tested using survey data from a sample of 108 salespeople in a business-to-business context and archival sales performance information. Moderated regression analysis results indicate that the use of sales force automation tools only enhances salesperson efficiency and effectiveness under conditions of adequate user support and training. In fact, under low levels of user training and support, the use of sales force automation tools was found to reduce salesperson efficiency and effectiveness. These findings have important implications for IT and sales managers since the results show that only under certain conditions will companies realize a return on their investment in SFA tools. Limitations and future directions for research are then discussed.     

Revisiting the Miles and Snow strategic framework: uncovering interrelationships between strategic types,capabilities, environmental uncertainty,and firm performance

The Miles and Snow strategic type framework is re‐examined with respect to interrelationships with several theoretically relevant batteries of variables, including SBU strategic capabilities, environmental uncertainty, and performance. A newly developed constrained, multi‐objective, classification methodology is modified to empirically derive an alternative quantitative typology using survey data obtained from 709 firms in three countries (China, Japan, United States). We compare the Miles and Snow typology to the classification empirically derived utilizing this combinatorial optimization clustering procedure. With respect to both variable battery associations and objective statistical criteria, we show that the empirically derived solution clearly dominates the traditional P‐A‐D‐R typology of Miles and Snow. Implications and directions for future research are provided. Copyright © 2004 John Wiley & Sons, Ltd.     

R. J. Chambers on Securities and Obscurities: Making a Case for the Reform of the Law of Company Accounts in the 1970s

This study examines the contribution of Raymond J. Chambers to the British inflation accounting debate in the early‐to‐mid 1970s, from the perspective of the reception of his book, Securities and Obscurities: A Case for Reform of the Law of Company Accounts, published in 1973. To structure the empirical narrative, drawing on previously unpublished documents from the R. J. Chambers Archives, we employ Czarniawska and Joerges’ ( 1996 ) notion of the ‘travel of ideas’, and Mumford’s ( 1979 ) observation of the existence of ‘inflation accounting debate cycles’. The result is a narrative that traces the environmental and material circumstances that led to Chambers’ book having a lesser impact on the British inflation debate than one would expect based on the international exposure of his ideas, his influence at the time, and the empirical rigour of his proposal. The purpose of this exercise is to assess how contextual factors, such as the choice of publisher, use of promotional material, and distribution methods, can be as (or more) important than the substance of the proposed ideas, arguments, and solutions.     

The consequences to analyst involvement in the IPO process: Evidence surrounding the JOBS Act

The JOBS Act allows certain analysts to be more involved in the IPO process, but does not relax restrictions on analyst compensation structure. We find that these analysts initiate coverage that is more optimistically biased, less accurate, and generates smaller stock market reactions. Investors purchasing shares following these initiations lose over 3% of their investment by the firm's subsequent earnings release. By contrast, issuers, analysts, and investment banks appear to benefit from this increased bias, as optimism is more positively associated with proxies for firm visibility and investment banking revenues when analysts are involved in the IPO process.     

Have labour practices and human rights disclosures enhanced corporate accountability? The case of the GRI framework

This paper critically evaluates Transnational Corporations’ (TNCs) claimed adherence to the Global Reporting Initiative (GRI)’s ‘labour’ and ‘human rights’ reporting guidelines and examines how successful the GRI has been in enhancing comparability and transparency. We found limited evidence of TNCs discharging their accountability to their workforce and, rather, we found evidence to suggest that disclosure was motivated more by enhancing their legitimacy. TNCs failed to adhere to the guidelines, which meant that material information items were often missing, rendering comparability of information meaningless. Instead, TNCs reported large volumes of generic/anecdotal information without acknowledging the impediments they faced in practice.     

Corporate Governance,Social Responsibility,and Data Breaches

We study whether corporate governance and social responsibility are related to data breaches. We find that socially responsible companies with smaller boards and greater financial expertise are less likely to be breached. The financial impact of a breach is visible in the long term. Specifically, data‐breach firms have –3.5% one‐year buy‐and‐hold abnormal returns. Additionally, banks with breaches have significant declines in deposits and nonbanks have significant declines in sales in the long run. Finally, we find that following a data breach, companies are more likely to replace their chief executive officer and chief technology officer as well as improve their governance and social responsibility.     

Partial moment volatility indices

Forward‐looking partial moment volatility indices are developed using state‐pricing, called the bear index (BEX) and bull index (BUX). Using S&P 500 index (SPX) option prices, we find that BEX and BUX provide superior forecasts for the lower and upper partial moments of future market realised volatility, respectively. We examine the relation between SPX returns and changes in BEX and BUX at the daily level. Results are consistent with the volatility feedback hypothesis. Further, we show that BEX may be more suitable as the ‘investor fear gauge’ than VIX.     

On the Earnings and Price Momentum Strategies: Evidence from European Real Estate Firms

We test the performance and interaction between earnings and price momentum for European real estate companies by first making use of decile portfolios sorted on the previous 3- to 12-month returns, standardized unexpected earnings and a combination of both. Then, the relation is tested on a risk-adjusted basis employing a 3-factor asset pricing model and Fama and Macbeth (1973) cross-sectional regression analyses. Our analyses reveal several critical findings: (1) both price and earnings momentum are effective for European firms, the effect being stronger for the UK than EU firms; (2) unlike U.S. REITs, price momentum seems to dominate drift for European firms; (3) there is weak evidence for positive interaction between drift and price momentum, contrary to the U.S. evidence; (4) the performance of momentum strategies depends on the state of the economy, while controlling for systematic factors; (5) idiosyncratic risk of real estate property firms may influence the returns on drift and momentum factors.