Seemingly inconsistent analyst revisions

In about 20%–30% of cases where an analyst revises two outputs (namely, earnings estimates, target prices, or stock recommendations) simultaneously, the two estimates are revised in opposite directions. Existing literature notes that these inconsistent outputs are widespread, and concludes that they are lower-quality, driven by strategic bias, and are viewed as less valid by investors. We find that these characterizations are generally inaccurate. Apparent inconsistency is largely driven by accounting and economic factors, with only limited evidence that investment banking-related conflicts play a role. Moreover, inconsistent outputs are neither less accurate than consistent outputs nor do they resolve less investor uncertainty upon their release. Overall, our results suggest that researchers should be cautious in interpreting the correlation between analyst outputs as a measure of bias or quality, and in using a single analyst output as a proxy for an analyst's overall views.     

Geographic distribution of suicide and railway suicide in Belgium, 2008–2013: a principal component analysis

This study investigated the geographic distribution of suicide and railway suicide in Belgium over 2008--2013 on local (i.e., district or arrondissement) level. There were differences in the regional distribution of suicide and railway suicides in Belgium over the study period. Principal component analysis identified three groups of correlations among population variables and socio-economic indicators, such as population density, unemployment, and age group distribution, on two components that helped explaining the variance of railway suicide at a local (arrondissement) level. This information is of particular importance to prevent suicides in high-risk areas on the Belgian railway network.     

Collective self-governance in a marine community: expedition cruise tourism at Svalbard

Collective self-governance is gaining attention in the literature for maintaining the quality of key attractions and promoting sustainable tourism. The long-term success of collective self-governance is dependent on both its internal organization and its embeddedness in external state and non-state regulations. This paper presents the marine community concept, consisting of a policy and a user community, as a framework for investigating the internal and external dynamics of collective self-governance and its ability to steer toward sustainable cruise tourism. As methodology, a case study design was chosen which was primarily studied by means of interviews with a spectrum of relevant actors concerning expedition cruise tourism at Svalbard. By applying the marine community to Svalbard expedition cruise tourism governance, we draw the following conclusions: (1) collective self-governance complements governmental regulation through access to knowledge, conflict resolution and rule-compliance based on disclosure, traceability and trust; (2) collective self-governance's increasing role in the policy community alienates the expedition crew from the user community; and (3) informational overflow by co-existence of collective self-governance and state-governance challenges sustainable cruise tourism. Collective self-governance would, therefore, benefit from reflection, especially regarding the role of the user community that functions as an intermediary between state and self-governance regulations.     

Life Expectancy Heterogeneity and the Political Support for Collective Annuities

Individuals, differing in productivity and life expectancy, vote over the size and type of a collective annuity. Its type is represented by the fraction of the contributive (Bismarckian) component (based on the worker's past earnings) as opposed to the non‐contributive (Beveridgean) part (based on average contribution). The equilibrium collective annuity is either a large mostly Bismarckian program, a smaller pure Beveridgean one (in accordance with empirical evidence), or nil. A larger correlation between longevity and productivity, or a larger average life expectancy, both make the equilibrium collective annuity program more Beveridgean, although at the expense of its size.     

The Distributional and Allocative Impacts of Virtual Labor Mobility across Time Zones through Communication Networks

Using a specific‐factors' model, with two goods (a shift‐working good and a non‐shift‐working good), three factors (capital specific to shift‐working, land specific to non‐shift‐working and labor) and two countries (Home and Foreign), which are located in different time zones, we highlight the impact of trade in labor services via communication networks on factor prices and production patterns. If two countries are identical in size, then under free trade in labor services, all workers work only in their local daytime, and night shift in each country is performed by imported labor services supplied by residents of the other country in their local daytime. Night‐time wage becomes the same as daytime wage (a wage equalization result). Other factor prices are also equalized. In both countries, capital rental rate increases, while land rent decreases. However, if two countries are different in size, trade in labor services does not equalize wages: in the large country, wages for night‐shift workers are higher than daytime wages and some residents work at night; in the small country, daytime wages become higher than night‐time wages and no one works at night, and night‐shift work is done by imported labor services from the large country. Land rent in the small country decreases. Land rent in the large country may or may not decrease, but it is always higher than in the small country. Capital rental rates in both countries are equalized and increase.     

Knowledge management through the development of knowledge repositories: towards work degradation

This paper questions the consequences of the use of electronic knowledge repositories for work and employment. Drawing on critical research suggesting that knowledge management associated with such tools presents similarities to scientific management principles, it proposes to examine the following key research question: how do employees experience the transformation of the employment relationship when a knowledge repository is introduced to the workplace? The inquiry is grounded in an exploratory qualitative case study of a knowledge management system designed to foster knowledge‐sharing in a Belgian public administration. The findings illustrate two complementary outcomes: this system resulted in employees experiencing deskilling and work degradation, and was met with resistance. Significantly, this paper considers work degradation as a reflexive phenomenon in the context studied, where knowledge‐sharing systems produced deskilling and resistance as part of a specific re‐regulation process.     

Impact of Stressful Situations on Salespersons' Gestures

Interest: This research analyses the influence of situations on salespersons’ gestures and behaviors. This research contributes to this underresearched field by exploring the impact of stressful versus nonstressful situations on salespersons’ personal behavior.

Methods: This research is based on 1,205 gestures observed during 382 sales calls that averaged 11 minutes with 382 salespersons. Half were in stressful situations, and half were in nonstressful situations. This study focuses on pharmaceutical products (drugs) in the medical field, with 95 doctors, 6 judges, 304 average performing salespersons, 39 high performers, and 39 low performers. This study shows how salespersons’ behaviors vary depending on stressful and nonstressful situations. This research also articulates a new field of sales research that is understudied by researchers and suggests new training trends in sales management.

Objective: The objective is to answer questions such as “Does stress influence salespersons’ behavior, and what are the gestures most affected by such situations?” To examine the effects of training on gestures, an experiment with 97 salespersons was conducted during a sales training session. This experiment measured whether salespersons trained on gestures behaved differently than those who were untrained.

Results: In general, stressful or nonstressful situations caused real differences in gestural behavior. In particular, the best salespersons performed the largest number of gestures during stressful situations. For example, stressful situations increased the mechanical or emotional gestures in leg movements or the number of glances.     

Toward a Typology of Family Firm Corporate Entrepreneurship

Family involvement in business creates idiosyncrasies in firm behavior that promote long‐term, often transgenerational, strategic logics that ostensibly align with the motivations and outcomes of corporate entrepreneurship. Interestingly, extant research provides only minimal insight into the heterogeneous nature of corporate entrepreneurship orientations pursued by family firms. To better understand this heterogeneity, we develop a typology of corporate entrepreneurship in family firms providing a reconciliatory approach to this literary diversity and suggest that the varied corporate entrepreneurship orientations of family firms are impacted by the duality of a family's distinct intention to pursue transgenerational succession and capabilities to acquire external knowledge.