Deregulation,strategic choice,risk and financial performance

This study explores the effects of regulation and deregulation on strategic choice and performance in the U.S. banking industry. Drawing on literature from strategic management, industrial organization economics, and organization theory, we develop a framework which suggests that regulatory scope and regulatory incrementalism influence strategic choice and performance. A path analytic model is used to empirically examine these influences. The results suggest that deregulation has direct effects on firms' strategic choices and both direct and indirect effects on risk and return.     

Perceived stress as a moderator of perfectionism,burnout, and job satisfaction among the millennial service workforce

The purpose of this study was to examine if perceived stress moderated the relationship between both adaptive and maladaptive perfectionism and two main outcomes, job satisfaction and burnout, among a sample of 131 Millennials in the hospitality industry. Millennial students enrolled in various hospitality management programs in the United States and employed at least part-time in the hospitality industry completed self-administered questionnaires on their perfectionism, perceived stress, job satisfaction, and three subtypes of burnout (personal, work-related, and customer-related). The results of this study indicated that while perceived stress did not have a moderating effect in regards to either dimension of perfectionism and job satisfaction, perceived stress did moderate the relationship between adaptive perfectionism and all three subtypes of burnout. The implications for hospitality employees with high levels of adaptive perfectionism are discussed.     

The Australian grocery industry: a competition perspective*

This article discusses whether at a theoretical level the large and growing role of the vertically integrated supermarket chains raises a buyer‐power concern because of potential harm to other retailers, suppliers, and/or consumers. Even if this is possible, whether it is a real concern depends on whether provision exists to constrain the exercise of that power through market responses, such as entry, or through regulatory provisions, such as those contained in the Trade Practices Act.     

A process for evaluating retail store efficiency: a restricted DEA approach

A managerial process is developed for assessing the efficiency of 552 individual stores for a multi-store, multi-market retailer employing Data Envelopment Analysis (DEA). Incorporating assurance regions into a DEA model allowed for a more complete specification of inputs and outcomes than usually found in DEA applications. This procedure permitted the researchers to capture top management's strategic thinking. Practical usefulness of the process' results is illustrated with respect to two management issues: evaluating store managers and identifying critical success factors (CSFs).     

Strategic groups: A cognitive perspective

The strategic group concept provides an attractive middle ground between firm and industry for both theory development and empirical analysis. To date, this concept has been defined by researchers in terms of secondary accounting and financial data, and a number of critics have questioned the validity of this work. Our research shows that industry participants share perceptions about strategic commonalities among firms, and that participants cluster competitors in subtle ways not reflected in extant academic research on strategic groups. Decision makers' perceptions and cognitions are phenomena that can be expected to influence industry evolution. They are of research interest as an additional source of data on firm commonalities which helps address concerns about previous strategic group research.     

Constructing a legitimate history: crisis,legitimacy, and the atlantic schools of Business Conferences

The Atlantic Schools of Business (ASB) conference is one of the longest running academic business conferences in Canada. It continued without the structure of an organizing committee for 34 years. In its 35^th year, however, a formal structure was adopted. The adoption of formal structure provides an opportunity to look critically at the change process from various perspectives. This paper takes three interrelated approaches: reviews of archival material to provide context; surveys of ASB membership to ascertain individual perceptions of the organization's purpose; and interviews with key individuals involved in the change process to examine the decision to formalize. Our analysis shows that perceived organizational crisis and a search for enhanced legitimacy can precipitate isomorphism and exclude alternative avenues for change. Copyright © 2008 ASAC. Published by John Wiley & Sons, Ltd.     

When Competition is Not Enough: Consumer Protection

Rather than market structure, it is the nature of the goods and services and the cost of obtaining and processing information that may place consumers in a poor bargaining position. The article outlines the key provisions for consumer protection in Australia, Part V of the Trade Practices Act. It discusses search costs, and the factors that limit search, and explains how the conduct of suppliers (or others) may reduce search costs. Asymmetry of information is identified as a necessary (but not sufficient) condition for misleading consumers. When products are sub standard or are used incorrectly, they may harm consumers or cause property damage and in some circumstances this may be best addressed via product liability laws. The article concludes by considering how firms or industries can be more pro-active in relation to consumer protection.