Leadership style,organizational culture and performance: empirical evidence from UK companies

The topics of leadership and organizational culture have attracted considerable interest from both academics and practitioners. Much of the interest in the two areas is based on explicit and implicit claims that both leadership and culture are linked to organizational performance. However, while the links between leadership and performance and between culture and performance have been examined independently, few studies have investigated the association between the three concepts. This paper examines the nature of this relationship and presents empirical evidence which suggests that the relationship between leadership style and performance is mediated by the form of organizational culture that is present. The paper concludes with a number of implications for theory and practice.     

Style investing and firm innovation

We document that transient, dedicated and quasi-indexed institutional investors exhibit a high degree of within-group heterogeneity with respect to their investment styles (i.e., growth, value, and balanced). We find that growth institutional investors enhance firm innovation in terms of R&D expenditures, R&D intensity, quantity and quality of patents and patent radicalness while value institutional investors impede innovation. Balanced investors have no significant association with innovation. Findings are consistent with style investing literature that growth and value styles are substitutes. Using investment styles, we present evidence that reconcile literature’s mixed findings on how transient and dedicated investors affect R&D and innovation, and why quasi-indexed investors, the largest group among all investors, have an insignificant effect. We also show that the effect of institutional investors depends on the firm’s relative level of innovativeness.     

同光体闽派诗人辛亥前后诗作述略

同光体闽派诗人的诗歌对辛亥革命前社会黑暗、民族危机有较清醒的认识,它热切呼唤变革,积极宣传维新;对辛亥革命流露出不解、怀疑甚至反对;对辛亥革命后的现实则有所批判.     

试析霍译《红楼梦》的风格翻译的功能观

风格翻译究竟以什么为标准历来有不同的看法，霍克斯在翻译《红楼梦》时以其匠心独运的技巧很好地再现了原作的风格，译者在翻译时，从原作风格的功能或作用出发，即充分考虑风格对于实现原交际者的意图的作用，力求译作的风格与原作的风格在功能上对等。     

无锡地区20世纪二三十年代"中西合璧"建筑特征的解析

无锡地区20世纪二三十年代"中西合璧"建筑是一批工法精细,气质独特的建筑.这些建筑不仅延续了无锡地区传统建筑文化的地域特征,而且初步形成了中西建筑文化的融合、重叠的基本方法,通过对上世纪初"中西合璧"建筑的解剖和分析,有助于我们在经济文化全球化的国际背景下,处理好吸收外来优秀建筑文化和保护地域传统建筑文化的关系.     

领导风格与组织创新氛围的相关研究——以河北高科技企业为例

为探讨高新技术企业中部门主管的领导风格对员工组织创新氛围感知的影响,以河北省部分高新技术企业的员工为被试对象,通过调查问卷的方法,获取相关信息。结果显示,交易型领导和变革型领导均对领导激励感知有较高的正向影响作用,对员工工作自主性的感知有中度正向影响;但是,两种领导风格均对工作挑战性的感知无显著影响。最后,对研究结果进行了讨论。     

领导风格对团队常规绩效和创新绩效的影响及机理研究

领导-团队模式普遍存在于各种各样的企业中,已有研究表明,领导风格会对团队成员造成多方面影响,进而影响团队绩效,但这些研究未从不同维度区分团队管理绩效,尤其忽略了创新绩效,也没有结合中国特定情境对领导风格进行划分,更没有考虑不同领导风格对不同绩效尤其是创新绩效的影响。基于团队理论和领导行为理论,将团队绩效划分为常规绩效和创新绩效,结合中国情境将领导风格划分为专制型和民主型,研究了不同领导风格对不同绩效的影响及其影响机制。结果表明,团队绩效的变化能够用领导风格来解释,民主型领导风格通过组织认同影响团队创新绩效,专制型领导风格通过团队执行力影响团队常规绩效。     

Risk optimizations on basis portfolios: The role of sorting

This paper investigates the mean–variance and diversification properties of risk-based strategies executed on style or basis portfolios. We show that the performance of these risk strategies is highly sensitive to the sorting procedure used to form the basis assets. Whereas the extant literature provides mixed support for the outperformance of smart beta strategies based on scientific diversification, our designed strategies outperform both the market model and multifactor model. Our testing framework is based on bootstrapped mean–variance spanning tests and shows valid conclusions when controlling for multiple testing, transaction costs, and luck from random basis portfolio construction rules. Economically, our results are supported by diversification-based properties.     

企业理性战略决策影响因素的实证分析

本研究基于面向342位中国企业管理者的问卷调查,经由统计分析发现:企业高层管理者有着单一主导决策风格,其中概念型风格显著正向影响战略决策理性,指令型风格显著负向影响战略决策理性;企业高管对经营环境有着高不确定性认知,显著正向战略决策理性;我国企业文化整体上呈现为效率型,但强正向影响战略决策理性的企业文化弹性特征有待提高。     

Portfolio style: Return-based attribution using quantile regression

Return-based classification identifies a portfolio's style signature in the time series of its returns. Detection is based on a regression of portfolio returns on returns of factor mimicking indices. The method is easy to apply and does not require information about portfolio composition. Classification using least squares means that style is determined by the way factor exposure influences expected returns. We introduce regression quantiles as a complement to the standard analysis. The regression quantiles extract additional information from the time series of returns by identifying the way style affects returns at places other than the expected value. This allows discrimination among portfolios that would be otherwise judged equivalent based on conditional expectations. It also provides direct information about the impact of style on the tails of the conditional return distribution. Simple examples are presented to illustrate regression quantile classification.