Employees intent to leave: A comparison of determinants of intent to leave versus intent to stay

The purpose of the study is to examine whether the predictors that decrease employee intention to leave will also increase employees’ intention to stay. Therefore, the objective of the study is twofold: (1) to examine the influence of perceived organizational support, perceived supervisors’ support, and organizational commitment regarding intent to leave and (2) to investigate the influence of the same variables on intent to stay. A total of 416 hospitality employees in the U.S. participated. The results suggest that perceived organizational support and organizational commitment decreased intent to leave while only perceived organizational support had a positive impact on intention to stay. Implications detail ways that hospitality organizations can focus on increasing their employees’ commitment through perceived organizational support as a critical component of turnover culture.     

Detecting informed trading prior to hospitality acquisitions

Hospitality acquisition payment announcements provide a particularly interesting opportunity for exploring the effects of information asymmetry on informed trading activities in hospitality firms. The empirical results in this paper, derived from a market microstructure approach, support the presence of informed trading in the short term prior to a hospitality acquisition. For cash- or stock-financed acquisitions, while we detect no change in the bid–ask spread of acquiring firms prior to an acquisition announcement, the ask or bid depths narrow prior to an acquisition payment announcement. For mixed-financed acquisitions, the bid–ask spread for acquiring firms widens and the ask depth narrows prior to the acquisition payment announcement.     

Coalition governments in a model of parliamentary democracy

We analyse a model of coalition government in a parliamentary democracy where parties care both for ideology and perks from office, and examine how the magnitude of this tradeoff affects the nature of coalitions that form. It is shown that equilibrium coalitions can be minimal winning, minority or surplus and they may be ideologically disconnected. The types of coalitions that emerge depend upon the relative importance of rents from office and the distribution of party ideologies. Further, there is a non-monotonic relationship between ideological connectedness of coalitions and rents from office.     

CEO Power and Firm Performance under Pressure

Are powerful chief executive officers (CEOs) more effective in responding to pressure from the economic environment? Concentrating decision‐making power may facilitate rapid decision making; however, the quality of decision making may be compromised, with severe consequences for the firm if a powerful CEO is less likely to receive independent advice or to have her decisions scrutinized. We empirically investigate the performance of firms with powerful CEOs when industry conditions deteriorate. We focus on industry downturns as these represent an exogenous shock to a firm's environment and on settings in which CEO power and access to quality information is likely more consequential: innovative firms, firms with relatively little related‐industry board expertise, firms operating in competitive industries, and firms operating in industries characterized by relatively greater managerial discretion. In each of these settings we find powerful CEOs perform significantly worse than other CEOs, suggesting contexts in which centralized decision making is potentially of greater concern.     

Institutional investor preferences for lodging stocks

Although investments from institutions such as banks, insurance companies and pension funds in the lodging industry increased enormously in the 1990s, there has been no empirical research that has examined institutional preferences for lodging stocks. Understanding institutional investment patterns can help provide easier access to the capital markets for hoteliers who make large capital expenditures. This study identifies the characteristics preferred by institutional investors and also assesses whether the different institutions have heterogeneous preferences. Our results show that, in general, institutions prefer the stock of large lodging firms. They also prefer lodging firms with high capital expenditure-to-asset ratios and high debt ratios.     

The impact of human resource management practices on intention to leave of employees in the service industry in India: the mediating role of organizational commitment

The purpose of this study was to investigate the impact of a bundle of eight human resource management practices on intention to leave, and to examine the mediating effect of organizational commitment on the relationship between the HRM practices and intention to leave of employees of a service organization in India. Most of the prior HRM practices–employee turnover studies have been from the HR manager's point of view. This study took a different approach and studied this relationship from an employee's point of view. Internet survey questionnaires were used to collect the data from 183 employees working in a service company in India. Multiple linear regression and hierarchical linear regression analysis were conducted to test the hypotheses. The study found not only that the HRM practices lower employee intentions to leave, but also that this relationship is partially mediated by organizational commitment. The results of the study not only supported that organizations should focus on employee perceptions of the organizations' HRM practices but also indicated that human resources should go beyond establishing policies and procedures to providing an employee-friendly work environment (Biswas and Varma 2007).     

Myopia or strategic behavior? Indian regimes and the East India Company in late eighteenth century India

The East India Company's conquest of India was facilitated by the behavior of its Indian rivals who not only did not ally against it, but often supported it militarily. Historians have typically attributed this to myopia, the failure to understand the long-term threat represented by the Company. We examine the negotiations leading up to a key conflict, the Third Mysore War, and find that the Company's allies were not myopic. The British parliament had, in 1784, passed Pitt's India Act, which limited the scope for unprovoked military aggression by the Company in India. This had changed the behavior of the Company, making its promises more credible. This enhanced credibility made it possible for the Company to secure as allies Indian regimes that were acting strategically in their self-interest. This is a new explanation for an old puzzle.     

Can asymmetric punishment deter endogenous bribery

This paper studies the effects of asymmetric punishment of bribery on both bribery and compliance with regulations. The bribe amount is decided via Nash bargaining and regulatory compliance and whistle-blowing are strategic decisions. Moreover, investigations of bribery and noncompliance occur in a manner that may be interdependent. We show that, under symmetric punishment, inducing whistle-blowing has no effect on the frequency of bribery. When the bribery and noncompliance investigations are independent, a switch from symmetric to asymmetric punishment either makes no difference or induces more nonharassment bribery. Only when bribery detection increases the chance of noncompliance detection and asymmetric punishment leads to whistle-blowing for both types of entrepreneurs, can the shift succeed in reducing noncompliance. The result is robust to the case where legalization of bribe-giving is not feasible for nonharassment bribes.