The Rocky Road to Legacy: Lessons from the 2010 FIFA World Cup South Africa Stadium Program

This article describes how the management and organization of the South African 2010 FIFA World Cup stadium program shaped the current legacy of an oversupply of overdesigned and underutilized stadiums. The article identifies seven key factors that explain the differences between expected benefits and the actual legacy. Identification of these factors contributes to the increasing academic interest in explaining the poor legacy outcomes of mega‐events. In conclusion, we recommend that future host country governments defragment their stadium programs by establishing a World Cup Delivery Authority (WCDA), with responsibility for the leadership and coordination of the stadium program.     

Firm‐specific human capital investments as a signal of general value: Revisiting assumptions about human capital and how it is managed

Research summary : Prior scholarship has assumed that firm‐specific and general human capital can be analyzed separately. This article argues that, in some settings, this is not the case because prior firm‐specific human capital investments can be a market signal of an individual's willingness and ability to make such investments in the future. As such, the willingness and ability to make firm‐specific investments is a type of general human capital that links firm‐specific and general human capital in important ways. The article develops theory about these investments, market signals, and value appropriation. Then, the article examines implications for human resource management and several important questions in the field of strategic management, including theories of the firm and microfoundations of competitive advantage. Managerial summary : While managers don't often use the terms firm‐specific and general skills, they certainly recognize that investments employees make in their skill sets are more or less relevant to a specific firm. For instance, investing in specific relationships within a firm or learning a firm's proprietary software would be considered firm‐specific investments. While such skills may seem relevant only to the particular firm in which they were invested, these investments may also send valuable signals to competing firms that such employees are willing and able to make similar investments elsewhere. Hence, managers should be interested in determining if a potential hire has made prior firm‐specific investments to help them know whether that person might be likely to make such investments in his or her future place of employment. Copyright © 2016 John Wiley & Sons, Ltd.     

Readying a region: temporally exploring the development of an Australian regional quadruple helix

Understanding how innovation drives regional development has important economic and social outcomes. Models such as Smart Specialisation and the quadruple helix are increasingly adopted given their sensitivity to place-based contexts. But although innovation processes are dynamic and facilitated by individuals’ interactions, our understanding of how these connections are developed and sustained during helix collaboration development remains under-investigated. This research adopts an action research approach, focused on a regional Australian case study, to test a multi-disciplinary conceptual framework exploring key human-centred, micro-processes driving quadruple helix development: trust building; power relationships; regional readiness; and time and sphere centrality. The findings demonstrate the interactive nature of these processes, with trust-building facilitating the deployment of power bases by critical innovation agents which then foments regional readiness for change, subsequently driving the helix spheres towards overlap. These processes were also driven by changing sphere centrality and unique regional temporal structures. Practically, these outcomes offer insights into the human capital dynamics of regional helix collaborations, particularly for identifying the key individuals required to drive their development.     

Environmental and economic development issues in the Polish motorway programme: some findings on local authority attitudes

This paper assesses the relative value attached by Polish local authorities to the development of motorways, as opposed to other national roads. It presents the findings of a survey, (the first of its kind) designed to record attitudes to these plans (which have changed with each successive government). The results are analysed in light of the on-going debate about environmental/economic development issues, polarised also along party lines. Previous analysis of media debate is re-visited. The degree of collaboration between gminas and the Ministry of Transport is explored, but found to be limited. The priorities of most local authorities are local economic development, and the quantity and quality of non-motorway roads are seen at least as important as the construction of new motorways.     

Large‐Scale Buy‐to‐Rent Investors in the Single‐Family Housing Market: The Emergence of a New Asset Class

In 2012, several large firms began purchasing single‐family homes, creating large portfolios of rental property, and securitizing these investments in capital markets. We present the first systematic evidence on this new investor activity in order to shed light on the factors that have supported its emergence. Three key factors were the ample supply of property for sale, tight mortgage financing and a decrease in acquisition and managerial costs brought about by technological advances. In addition, we show that buy‐to‐rent investors appear to have supported house prices in the neighborhoods where they concentrated.     

Engineered nanomaterials: risk perception,regulation and insurance

Concerns surrounding the health risk of engineered nanomaterials, effective regulation and the lack of specifically tailored insurance products for the nanotechnology sector are putting the industry’s long-term economic viability at risk. From the perspective of the underwriter, this article speculates on the relationship between risk perception, regulation and insurability. In the nanotechnology sector, regulators are currently failing to keep pace with innovation, and insurers generally lack guiding principles for underwriting occupational risk from nanomaterial exposure. Such vulnerabilities when combined with misguided risk perceptions can lead to the overpricing of risk transfer and ill-conceived regulatory initiatives, thus potentially exhausting resources and stifling innovation in the sector. In the absence of well-developed regulatory protocols, the insurance industry has, and will continue, to occupy a key role as an effective lobby in terms of improved risk management practice. We suggest that the insurance industry will increasingly rely on control banding frameworks and ‘risk mitigation at source’ methods developed in conjunction with their clients to manage severe acute diversifiable risks. Long tail risk will continue to represent a serious challenge to insurers and regulators. In the meantime, insurers will have to bridge their current needs with improvised solutions. As an example of one possible solution, we outline a framework that utilizes financial instruments to hedge an insurer’s exposure to uncertain estimates of these long-term risks.     

Employee benefits: Literature review and emerging issues

Many have noted the lack of human resource management research on employee benefits, which is surprising because employer-sponsored benefits are a primary concern of executives and employees alike. Moreover, of special interest to scholars, benefits provide a unique opportunity to examine fundamental theoretical and empirical questions about employee behavior and contemporary employment relationships. This paper provides a foundation for such research by providing an overview of the context from which U.S. employer-provided benefit programs evolved and the contemporary state of benefits research in human resource management. Propositions related to primary employee benefit research are provided.     

THE EFFECTS OF INFORMATION TECHNOLOGY ON STRATEGIC DECISION MAKING

Information technology (IT) may be defined as computer-based technology for the storage, accessing, processing and communication of information. Many writers have suggested that the use of IT should improve strategic decisions and have developed a number of propositions about the effects of IT on strategic decision making. However, no study has yet addressed the specific effects of IT on major phases of this process. Using Mintzberg, Raisinghani and Theoret's (1976, ‘The structure of unstructured decision processes’, Administrative Science Quarterly, 21, 2, 246–75) strategic decision-making model, this study assessed the effects of IT on the major phases of the process through an intensive examination of eight decisions in four companies. the results of the study provide new information on the specific ways IT improves decision-making efficiency and effectiveness at each stage of the strategic decision process.     

Expert relevance and the use of context-driven heuristic processes in risk perception

The effectiveness of a medical treatment should not predict its risk (highly effective treatments can be either safe or risky), however, people’s use of heuristic shortcuts may lead them to judge a link between effectiveness and risk, typically a negative correlation. A particular concern is that experts might use such a strategy and that this is unlikely to provide an accurate judgement. This large-scale field-based experiment compares expert-relevant and non-expert-relevant contexts, for both expert and public judgements of risk and effectiveness in the context of blood transfusion medicine. Postal questionnaires were distributed to anaesthetists (experts, N?=?123) and a general public (non-expert) comparison group (N?=?1153); half of the participants were cued with accompanying general information about genetically-modified (GM) biotechnology and half received specific information about blood product technologies. The blood-focussed information served to emphasise the medical relevance of the questionnaire to the expert group. Regression analyses showed that generally perceived effectiveness predicted perceived risk for both experts and non-experts, which suggests heuristic processing. However, although experts appeared to engage in heuristic processing for risk perceptions in certain circumstances, this processing is strongly affected by context. Experts who received the medically relevant context rated perceptions of effectiveness independently of perceptions of risk, unlike those who received the GM context. This indicates a reduced reliance on a low-effort heuristic for experts given an expertise-relevant context. The results are considered in light of dual-process (rational-associative) accounts of reasoning.