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Little research has focused on the impact of organizational crisis on their internal stakeholders – the employees. This paper aims to fill this void by examining the impression management strategies used by senior managers in managing their employees during organizational crisis and the impact of these strategies on employees.

The authors collected qualitative data from three organizations and used multiple analytical lenses (such as thematic, content and trope) to explore patterns in senior managers’ management of employees during crisis.

Emerging patterns in the data revealed that the emotional state and reactions of employees (individual and collective) during crisis include anger, fear, shame, depression and shock. Additionally, data revealed two major contradictions (tensions) in managing employees during crisis: maintaining and compromising standard and managers’ wants versus employees’ desire in the way organization crisis is managed. Based on these preliminary findings and using affective event theory and the theory of collective emotions as a frame, the authors built a conceptual model that depicts the relationship between organizational crisis, impression management and emotion-driven employee attitudes and behaviors.

A major limitation in the current research is that authors’ data are largely composed of text (e.g. from newspaper and websites). Nevertheless, the textual data were based on actual interviews with stakeholders and victims and have more than compensated for the limitation. Theoretically, by examining the emotional states and reactions of internal (rather than external) stakeholders to organizational crisis, the authors extend the literature in the area of organizational crisis and crisis management, while the testable propositions in this conceptual model have a potential to open up new pathways for studying organizational crisis. Practically, it is imperative for managers to have skills to identify and manage key employees’ emotional states and reactions to crisis. Managers should align their words and actions during crisis management to increase employees trust. Also pre-crisis planning should include specific guidelines on how to identify and manage employees’ individual and collective emotions during crisis.

The results show that inappropriate impression management strategies may worsen employees’ emotional states and reactions (individual and collective) during crisis; therefore, it is imperative for managers to have skills in identifying key employees’ emotional states and reactions to crisis and the impression management strategies appropriate in managing them. A training that sharpens managers’ emotional intelligence will be helpful in managing the emotions of employees (individual and collective) during crisis. Also, pre-crisis planning should include specific guidelines on how to identify and manage employees’ individual and collective emotions during crisis, while senior managers’ words and actions during crisis need to be synchronized to engender employees’ trust.

This study demonstrates that beyond emotions of employees during crisis, there are contradictions and tensions in the senior manager’s management of their employees during crisis. Also, outcomes of a quantitative test of the conceptual model developed from the current study should improve the generalizability of the results and open up new pathways for future research in this area.

The authors analyze the effects of political freedom and personal freedom on the spread of COVID-19 in a cross-country study. The authors also investigate how income inequality, urbanization and previous experience with a similar respiratory epidemic/pandemic, such as SARS and MERS, affect the spread of COVID-19.

The authors employ data from 102 countries to examine the relationship of countries' economic and sociopolitical factors, such as political freedom and personal freedom and their COVID-19 infection cases per million population at 120 days, 150 days and 180 days after the reported 10th infection case. The authors also include the log term of real GDP per capita to control for counties' economic development and regional dummies to control for regional-specific effects.

Results of this study show that personal freedom, rather than democracy, has a significant positive effect on countries' COVID-19 infection cases. On the contrary, democracy has a negative impact on the infection rate. The authors also find that socioeconomic factors such as higher income inequality and urbanization rate adversely affect the COVID-19 infection cases. A larger older population is associated with fewer infection cases, holding everything else equal. Previous experiences with the coronavirus crisis affect countries only at the 120 days mark. Real GDP per capita has no significant effect.

The main contribution of this paper is to jointly explore personal freedom, which implies a social framework with more emphasis on self-value and self-realization and political freedom, that is, democracy. The authors show that it is personal freedom, rather than democracy, that contributes to higher COVID-19 infection cases. Democracy, on the other hand, reduces the number of infection cases.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-12-2021-0769

This paper analyzes the impact of economic downturns on the revenue and expense sides of city financing for the period 2003 to 2009 using a convenience sample of the audited end of year financial reports for thirty midsized US cities. The analysis focuses on whether and how quickly and how extensively revenue and spending directions from past years are altered by recessions. A seven year series of Comprehensive Annual Financial Report (CAFR) data serves to explore whether citiesʼ revenues and spending, especially the traditional property tax and core functions such as public safety and infrastructure withstood the brief 2001 and the persistent 2007 recessions? The findings point to consumption (spending) over stability (revenue minus expense) for the recession of 2007, particularly in 2008 and 2009.

State suspicion is a suspension in employees’ cognitive and motivational drives toward the organization. The purpose of this paper is to investigate the role of leaders’ cultural intelligence (CQ) in mitigating employees’ state suspicion. An understanding was also sought on moderating roles of employees’ attachment styles on the negative relationship between CQ and state suspicion.

Harvested from respondents from multinational software companies in Vietnam business context, the data were analyzed through hierarchical multiple regression analysis.

The data provided evidence for the negative effect of leaders’ CQ on employees’ state suspicion. Employee attachment styles were also found to play the moderating roles for that negative relationship.

This research advances suspicion research stream through its convergence with CQ research stream.

Motivated by the significant role of uncertainty in affecting investment decisions and China's economic leadership in Asia, this paper investigates the predictive role of exposure to Chinese economic policy uncertainty at the individual stock level in large Asian markets.

We estimate the monthly uncertainty exposure (beta) for each stock and then employ the portfolio-level sorting analysis to investigate the relationship between the China’s uncertainty exposure and the future returns of major Asian markets over multiple trading horizons. The raw returns of the high-minus-low portfolios are then adjusted using conventional asset pricing models to investigate whether the relationship is explained by common risk factors. Finally, we check the robustness of the portfolio-level results through firm-level Fama and MacBeth (1973) regressions.

Applying portfolio-level sorting analysis, we reveal that exposure to Chinese uncertainty is negatively related to the future returns of large stocks over multiple trading horizons in Japan, Hong Kong and India. We discover this is unexplained by common risk factors, including market, size, value, profitability, investment and momentum, and is robust to the specification of stock-level Fama and MacBeth (1973) regressions.

Our analysis demonstrates the spillover effects of Chinese economic policy uncertainty across the region, provides evidence of China's emerging economic leadership, and offers trading strategies for managing uncertainty risks.

The findings of the study significantly improve our understanding of stock return predictability in Asian markets. Unlike previous studies, our results challenge the leading role of the US by providing a new intra-regional return predictor, namely, China’s uncertainty exposure. These results also evidence the continuing integration of the Asian economy and financial markets. However, contrary findings for some Asian markets point toward certain market-specific features. Compared with market-level research, our analysis provides deeper insights into the performance of individual stocks and is of particular importance to investors and other market participants.

This study investigates the impact of insider-ownership of publicly traded firms on their performance, cost of debt (COD) and cost of equity. We use a sample of 104 non-finance listed companies of Pakistan for the period from 2006 to 2016. Our study is conducted in Pakistan as a developing country in which insider-ownership is dominant, and a weak external corporate governance mechanism increases the payoffs from insider-ownership. We use feasible generalized least square (FGLS) regression methods to examine these hypotheses. Based on agency theory, we find that insider-ownership enhances firm performance. Furthermore, our results show that insider-ownership reduced the COD and equity. Higher ownership decreases the opportunistic behavior of insiders. It also reduces the creditor’s perception of the likelihood of default on loan payments and reduces agency issues among shareholders. The insider will invest in positive NPV projects which will help maximize shareholders’ wealth and minimize the COD. Similarly, the relationship between insider-ownership and cost of equity is significant but negative. Supporting the convergence of interest increase in ownership helps in aligning the goals of managers and stakeholders whereby the insider will focus on value creation by minimizing equity cost.

The purpose of this paper is to establish an optimum mix of liquid, publicly traded assets that may be added to a real estate portfolio, such as those held by open-ended funds, to provide the liquidity required by institutional investors, such as UK defined contribution pension funds. This is with the objective of securing liquidity while not unduly compromising the risk-return characteristics of the underlying asset class. This paper considers the best mix of liquid assets at different thresholds for a liquid asset allocation, with the performance then evaluated against that of a direct real estate benchmark index.

The authors employ a mean-tracking error optimisation approach in determining the optimal combination of liquid assets that can be added to a real estate fund portfolio. The returns of the optimised portfolios are compared to the returns for portfolios that employ the use of either cash or listed real estate alone as a liquidity buffer. Multivariate generalised autoregressive models are used along with rolling correlations and tracking errors to gauge the effectiveness of the various portfolios in tracking the performance of the benchmark index.

The results indicate that applying formal optimisation techniques leads to a considerable improvement in the ability of the returns from blended real estate portfolios to track the underlying real estate market. This is the case at a number of different thresholds for the liquid asset allocation and in cases where a minimum return requirement is imposed.

The results suggest that real estate fund managers can realise the liquidity benefits of incorporating publicly traded assets into their portfolios without sacrificing the ability to deliver real estate-like returns. However, in order to do so, a wider range of liquid assets must be considered, not just cash.

Despite their importance in the real estate investment industry, comparatively few studies have examined the structure and operation of open-ended real estate funds. To the authors’ knowledge, this is the first study to analyse the optimal composition of liquid assets within blended or hybrid real estate portfolios.

This paper examines the processes of organizational adaptation and competitiveness of firms in an emerging economy (Argentina). The empirical focus of this paper concerns the determinants of organizational flexibility during the period from 1989 to 1999, when a combination of economic and political change triggered a massive change in the competitive context of indigenous firms. Two companies in the pharmaceutical industry were selected, one that was flexible (Sidus) and one that was less flexible (DER.S.A.). Longitudinal data are supplied to explore the determinants of organizational flexibility in those organizations.

THE following abstract in tabular form has been prepared by some junior members of the Islington Public Libraries staff for the use of candidates in Section V. of the Library Association Examination. It does not pretend to do more than set out the chief provisions of the various Public Libraries Acts in a clear manner, as an aid to the memorization of the principal powers and duties conferred upon library authorities. The whole of the Acts can be purchased through any bookseller for 1s. 4½d., and every student of librarianship is advised to procure them.

GLASGOW was later by about one hundred and thirty years than some of the Scotch towns in establishing a printing press. Three hundred years ago, though Glasgow contained a University with men of great literary activity, including amongst others Zachary Boyd, there does not appear to have been sufficient printing work to induce anyone to establish a printing press. St. Andrews and Aberdeen were both notable for the books they produced, before Glasgow even attempted any printing.