Structural interdependence within top management teams: A key moderator of upper echelons predictions

Studies of the effects of top management team (TMT) composition on organizational outcomes have yielded mixed and confusing results. A possible breakthrough resides in the reality that TMTs vary in how they are fundamentally structured. Some are structured such that members operate independently of each other, while others are set up such that roles are highly interdependent. We examine the potential for three facets of structural interdependence—horizontal, vertical, and reward interdependence—to resolve ambiguities regarding effects of TMT heterogeneity. Based on a sample of TMTs in technology firms, we find that the three facets of structural interdependence are potent moderators of two classic predictions: the positive association between TMT heterogeneity and member departures, and between TMT heterogeneity and firm performance. Copyright © 2014 John Wiley & Sons, Ltd.     

Behavior of output during currency crises

This paper documents the behavior of output and its association with other macroeconomic variables in 195 episodes of currency crises in developing countries during 1970-2000. We find that about 60% of the crises are contractionary, while the rest are expansionary. Crises are one and a half times more likely to be contractionary in emerging markets than in other developing economies. The number of contractionary crises or their severity does not increase in the 1990s. Economies which experience capital inflows in the years prior to the crisis or an increase in external debt burden during the crisis are more likely to slow down during crises, while those with restrictions on capital flows prior to the crisis or are more open to international trade are less likely to do so. The results are robust to different ways of measuring changes in output during crises.     

Exploring antecedents of healthy food choices: an Indian experience

Label information on food items is seen as a tool to facilitate better choices. Merely, provision of label information may not lead to the desired outcome. Comprehension and processing of label information during consumer decision making is crucial for better food choices. Based on the primary data obtained from 150 consumers of pre‐packaged food items, the research proposes a conceptual model for healthier food choices. Previously, a number studies related to consumer decision making have employed ‘label reading’ and ‘label use’ interchangeably. Present research advocates that label reading does not amount to label use. Findings from ordered probit model and path analysis suggest that comprehension of label information leads to increase in its perceived usefulness. Further, increased perceived usefulness facilitates better food choice. Instances of better food choices can be maximized by enhancing perceived usefulness and comprehension of label information through educational and awareness campaigns, especially in context of developing countries such as India.     

The Time-Series Properties of House Prices: A Case Study of the Southern California Market

We examine the time-series relationship between house prices in eight Southern California metropolitan statistical areas (MSAs). First, we perform cointegration tests of the house price indexes for the MSAs, finding seven cointegrating vectors. Thus, the evidence suggests that one common trend links the house prices in these eight MSAs, a purchasing power parity finding for the house prices in Southern California. Second, we perform temporal Granger causality tests. The Santa Anna MSA temporally causes house prices in six of the other seven MSAs, excluding only the San Luis Obispo MSA. The Oxnard MSA experiences the largest number of temporal effects from six of the seven MSAs, excluding only Los Angeles. The Santa Barbara MSA proves the most isolated. It temporally causes house prices in only two other MSAs (Los Angeles and Oxnard) and house prices in the Santa Anna MSA temporally cause prices in Santa Barbara. Third, we calculate out-of-sample forecasts in each MSA, using various vector autoregressive and vector error-correction models, as well as Bayesian, spatial, and causality versions of these models with various priors. Different specifications provide superior forecasts in the different MSAs. Finally, we consider how theses time-series models can predict out-of-sample peaks and declines in house prices after in 2005 and 2006. Recursive forecasts, where we update the sample each quarter, provide reasonably good forecasts of the peaks and declines of the house price indexes.     

Natural resource endowments and the domestic revenue effort

We examine whether there is evidence of an offset between government revenues from hydrocarbon (oil and gas) related activities and revenues from other domestic sources in a panel of 30 hydrocarbon producing countries. Our main finding is that there is an offset of about 20%, which is robust to the inclusion of control variables, the exclusion of outliers, and alternate estimation methodologies. While the impact of the offset on long-term development prospects is not clear, there is a risk of significant adjustment costs in moving to a higher level of domestic taxation once natural resources are depleted.     

兼并完，但别让队伍整合“完蛋”了

完全可以肯定：企业的合并充满挑战性。但即便如此，它们仍然可以为企业组织提供变革的可能性。为了确保收入增长和实现合并行动所承诺但往往无法实现的价值，最大的变革之———销售队伍的整合——是企业的首要任务。     

An empirical investigation of the effect of imputation credits on remittance of overseas dividends

Overseas dividend remittance is an important vehicle for multinational corporations (MNCs) to move funds among their global subsidiaries. Using firm-level data from 2001 to 2004 for Taiwan-based MNCs with subsidiaries in China, this paper provides empirical evidence on the effect of imputation credits on overseas dividend remittances. We find that imputation credits have a positive effect on increasing foreign dividend payouts, thereby reducing the efficiency loss induced by the tax cost for within-firm dividends of MNCs. We also document evidence that parent companies’ net fund flows from related-party transactions with their subsidiaries are negatively correlated with dividends repatriated from those affiliates, supporting the notion that transfer-pricing may be substituting for within-firm dividend remittance. Our results contribute to understanding the links between taxation and related-party transactions and subsidiary dividend repatriation decisions of MNCs.     

Exploring the role of the spouse in expatriate failure: a grounded theory-based investigation of expatriate' spouse adjustment issues from India

This paper applied the grounded theory method in a study of the expatriates' spouses' relocation adjustment process and the impact of such adjustment problems in expatriate failure. A qualitative enquiry approach using open-ended questions in the form of personal interviews was adopted. Iteratively, the questions were changed to reach theoretical saturation and we allowed the respondents to lead us through the data collection process during our eventual theory development process. An action diagram technique was used to help structure and process the data. The study was conducted with 26 Indian origin spouses who had to encounter relocation issues one time or the other. We found the spouses' perceived gender role ideology to play a critical part in their adjustment process. Other factors that influenced the adjustment process in expatriate assignments were personality factors such as extraversion, organizational and family support, country demographics and pre-departure training.     

Joint probability distributions concerning a sequence of symmetric Bernoulli trials

Abstract

Two consecutive trials in a sequence of trials would yield one of the four patterns SS, SF, FF and FS, where S stands for success and F stands for failure. In the context of brand choice process under Bernoulli Model (Wierenga, 1974) SS and FF imply continuation with the same brand and SF and FS imply brand switching. Thus, a study of the probability distributions concerning these patterns assumes importance in the development and evaluation of marketing strategies towards the promotion of sales by the producer of a particular brand. Restricting ourselves to the case of Symmetric Bernoulli Trials (SBT), viz., the probability of success (and, therefore, of failure) at any trial is 1/2, we obtain in this paper, generating functions for the various tri-nomial distributions that arise by considering two of the four patterns mentioned above. We obtain these results by developing, at the first instance, the difference equations that connect the relevant probability functions (Uspensky, 1937, Bizley, 1957 and Feller, 1968). Some of the known results (Sabharwal, 1969), are obtained as a particular case of the new results.     

Comparative performance appraisal practices and management values among foreign and domestic firms in India

Countering culture-based analyses indicating homogeneity in Indian management practices, this empirical study compares performance appraisal practices and management values in India by firm ownership. Differences in Indian private investor corporations, public sector enterprises, foreign/joint ventures and private family businesses are examined to assist managers to adapt selectively to firms in the changing Indian economy. Theoretical and managerial implications, as well as future directions for research are discussed.