Telework paradoxes and practices: the importance of the nature of work

Research on telework often focuses on the outcomes of telework, investigating if telework is ultimately a ‘good’ or a ‘bad’ thing for teleworkers and their organisations. However, findings across telework research studies are often inconclusive, requiring deeper engagement with potential explanations for contradictory and paradoxical results. This study uses virtual ethnography (netnography) to investigate naturally occurring data. By analysing online debates related to Yahoo!'s decision to ban telework for its employees, this study surfaces aspects currently overlooked by telework research. These findings suggest that the diversity of the nature of work undertaken by knowledge workers and perceived differences in the suitability of different tasks for telework are of critical importance for understanding telework from a practice perspective. However, deeper engagement with the different kinds of work activities of knowledge workers is currently missing in the telework research literature. This study therefore contributes to better understanding of telework and paradoxical findings in telework research.     

The rise of Facebook-based communication in the energy sector

In the case of public utilities, the development of stakeholder communication through Facebook is not focused in the existing body of literature. Yet, it is especially these developments that are essential for scholars and practitioners as they highlight the way stakeholder communication in the energy sector will change. The aim of this paper is to contribute to this lack of research by investigating developments in the ways German and Austrian public utilities use Facebook to communicate. Responding to the research objectives, two empirical studies were conducted. In 2014 as well as 2015 an online survey was sent to 850 German and 30 Austrian utilities. The results highlight the rising importance of Facebook in the energy sector. The share of public utilities using Facebook is constantly increasing. Additionally, during the twelve months investigated, the interactivity and frequency of Facebook-based communication rose. Utilities are progressively willing to invest more personnel and monetary resources to administer their accounts. As the numbers of fans increase, users seem to value the information provided by utilities on Facebook.     

Core Labour Standards and FDI: Friends or Foes? The Case of Child Labour

We test the often-cited hypothesis that high levels of child labour attract foreign investors. Using panel data we show the overall effect which child labour has on foreign direct investment (FDI) to be a (small) negative one. We find strong evidence for the theoretical prediction that child labour deters FDI by slowing down economic development. Weaker evidence is provided for our theoretical prediction that child labour can discourage FDI via its impact on the availability of a skilled labour force in an economy. The data do not indicate that high levels of child labour drive down the factor share of labour, thereby increasing the attractiveness of an economy for foreign investors. JEL no. C33, F23, J82     

Optimal investment under multi-factor stochastic volatility

We consider a model for multivariate intertemporal portfolio choice in complete and incomplete markets with a multi-factor stochastic covariance matrix of asset returns. The optimal investment strategies are derived in closed form. We estimate the model parameters and illustrate the optimal investment based on two stock indices: S&P500 and DAX. It is also shown that the model satisfies several stylized facts well known in the literature. We analyse the welfare losses due to suboptimal investment strategies and we find that investors who invest myopically, ignore derivative assets, model volatility by one factor and ignore stochastic covariance between asset returns can incur significant welfare losses.     

A score-test on measurement errors in rating transition times

We model credit rating histories as continuous-time discrete-state Markov processes. Infrequent monitoring of the debtors’ solvency will result in erroneous observations of the rating transition times, and consequently in biased parameter estimates. We develop a score test against such measurement errors in the transition data that is independent of the error distribution. We derive the asymptotic χ²${\chi }^2$-distribution for the test statistic under the null by stochastic limit theory. The test is applied to an international corporate portfolio, while accounting for economic and debtor-specific covariates. The test indicates that measurement errors in the transition times are a real problem in practice.     

From patchwork to theory development: mapping and advancing research about business portfolio restructuring

While research on corporate or business portfolio restructuring has become an independent part of corporate restructuring research, the respective scholarly literature is in need of a systematic review that identifies the substantiated state of knowledge and reveals future research opportunities in this field of strategic management. The objective of our study is to fill this gap. Combining several literature retrieval methods 73 studies are identified and analyzed. As a result, current shortcomings in theory-building and empirical portfolio restructuring research are highlighted applying a framework that distinguishes between antecedents, processes, and outcomes of portfolio restructuring activities. The contribution of this paper goes beyond listing past achievements and disregarded issues as it proposes several directions for future research. Specifically, there is an urgent need for studying restructuring processes and the corresponding development or use of appropriate research methods.     

Socio-cultural transformations through tourism: a comparison of residents' perspectives at two destinations in Kerala,India

Kerala, a state in Southwestern India, evolved into a prominent international tourism destination primarily by linking tourism experiences with nature. Although sufficient significance has been accorded to tourism as a development strategy in Kerala, tourism's contributions to the development processes and the sustainability of tourism activities remain unexplored. Though tourism impacts have been extensively studied, researchers have rarely compared socio-cultural transformations in destinations with and without a planned intervention in tourism. This paper compares residents' perceptions on socio-cultural impacts of tourism at Kumily and Kumarakom in Kerala. The article explores whether tourism activities in Kumily, with its planned intervention, are more sustainable than in Kumarakom, without any interventions. The conversion of ex-poachers into forest protectors and the involvement of the marginalized people in community-based ecotourism are a few among the many transformations that have occurred at Kumily while haphazard tourism development at Kumarakom gave rise to several socio-cultural challenges. Primary data were collected through residents' survey, and the findings indicate that Kumily with its planned intervention has a more sustainable tourism development pattern than Kumarakom.     

The Influence of Stakeholder Engagement on Sustainability Reporting: Evidence from Italian local councils

This study investigates the motivations of local councils for producing a sustainability report. Inter-connecting theories of legitimacy, accountability, and the New Public Management are used to structure an investigation that explains patterns of behaviours by Italian local councils. The project assesses if, and how, stakeholder engagement can influence the local councils’ decision-making process through the adoption of sustainability reporting. Semi-structured interviews were conducted with the sustainability report preparers of a sample of Italian local councils. The findings demonstrate that initially sustainability reporting is introduced for accountability and legitimacy reasons. However, over time traditional sustainability reporting was incidental to more sophisticated tools of policy-making and reporting, in which some of the stakeholders were actively involved. The findings highlight the political negotiations in which sustainability reporting finds itself. The stakeholder engagement projects implement legitimizing strategies within the context of the search for an arrangement between political programs and stakeholder demands.     

Corporate Turnarounds: The Duality of Retrenchment and Recovery

Corporate turnaround research has described retrenchment and recovery as contradictory forces that should be addressed separately. While a few scholars have argued that retrenchment and recovery are interrelated and may have to be integrated, others have contended that such arguments are flawed since they downplay the contradictions between the two activities. In this paper, we clarify the nature of the retrenchment–recovery interrelations, as well as their importance for turnaround performance. Drawing on the paradox literature, we argue that retrenchment and recovery form a duality: they are both contradictory and complementary. Integrating the two activities allows turnaround firms to create benefits that exceed the costs of their integration, which affects turnaround performance positively. We test our arguments through an empirical study of 107 Central European turnaround initiatives and find evidence for the assumed duality between retrenchment and recovery. Our main contribution is integrating the hitherto disparate theory perspectives of corporate turnaround into an overarching framework.