Graziella Pagliarulo McCarron, Steven Zhou, Alec Campbell, Elizabeth Schierbeek and Kailee Kodama Muscente
The purpose of this study was to explore how variables such as student demographics, pre-college leadership activities, and perceived pre-college parenting behaviors predict…
Abstract
The purpose of this study was to explore how variables such as student demographics, pre-college leadership activities, and perceived pre-college parenting behaviors predict students’ leader self-efficacy (i.e., individuals’ confidence in themselves to lead and belief that others will support their leadership [Hannah et al., 2008]) in college and leader emergence (i.e., college-based leadership involvements [DeRue & Ashford, 2010]) in college. Undergraduate students (n = 420) at a large, public university in the Mid-Atlantic were surveyed to examine these relationships and data were analyzed using hierarchical and logistic regression, with appropriate controls and moderators. Findings included discovery that pre-college engagement with sports team positional leadership, community service, extracurriculars, and positive parenting behaviors, such as family routine and greater quality time with parents, predicted leader self-efficacy. Further, findings noted that pre-college community service, extracurriculars, peer tutoring and perceptions of parental quality time and proactive parenting predicted leader emergence. This study suggests that students’ leadership development is influenced by myriad systems across the lifespan and demonstrates that, as educators committed to student development, we must engage the full arc of our students’ leadership journeys and provide for intentional partnerships between higher education and the K-12 community.
Guqiang Luo, Kun Tracy Wang and Yue Wu
Using a sample of 9,898 firm-year observations from 1,821 unique Chinese listed firms over the period from 2004 to 2019, this study aims to investigate whether the market rewards…
Abstract
Purpose
Using a sample of 9,898 firm-year observations from 1,821 unique Chinese listed firms over the period from 2004 to 2019, this study aims to investigate whether the market rewards meeting or beating analyst earnings expectations (MBE).
Design/methodology/approach
The authors use an event study methodology to capture market reactions to MBE.
Findings
The authors document a stock return premium for beating analyst forecasts by a wide margin. However, there is no stock return premium for firms that meet or just beat analyst forecasts, suggesting that the market is skeptical of earnings management by these firms. This market underreaction is more pronounced for firms with weak external monitoring. Further analysis shows that meeting or just beating analyst forecasts is indicative of superior future financial performance. The authors do not find firms using earnings management to meet or just beat analyst forecasts.
Research limitations/implications
The authors provide evidence of market underreaction to meeting or just beating analyst forecasts, with the market's over-skepticism of earnings management being a plausible mechanism for this phenomenon.
Practical implications
The findings of this study are informative to researchers, market participants and regulators concerned about the impact of analysts and earnings management and interested in detecting and constraining managers' earnings management.
Originality/value
The authors provide new insights into how the market reacts to MBE by showing that the market appears to focus on using meeting or just beating analyst forecasts as an indicator of earnings management, while it does not detect managed MBE. Meeting or just beating analyst forecasts is commonly used as a proxy for earnings management in the literature. However, the findings suggest that it is a noisy proxy for earnings management.
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The stock market anomalies have been studied across the globe with intermingled results for individual markets. The present study has investigated the financial year effect for…
Abstract
Purpose
The stock market anomalies have been studied across the globe with intermingled results for individual markets. The present study has investigated the financial year effect for Indian stock markets by testing month-of-the-year-effect anomalies.
Design/methodology/approach
The oldest stock exchange's index returns (Bombay Stock Exchange [BSE]) have been tested using ordinary least squares (OLS) and autoregressive conditional heteroskedasticity in mean (ARCH-M) models with Student's t and Student's t-fixed distributions for the period between 1991 and 2019. The Glosten, Jagannathan and Runkle-generalised autoregressive conditional heteroskedasticity (GJR-GARCH) model has been further used to find out existence of the leverage effect in returns.
Findings
The findings indicated no evidence for anomalies in the Indian stock market which may be used by investors for making unusual returns. However, the volatility in returns has shown weak but significant results due to the financial year impact. The leverage effect has not been found in the financial year cycle change over. The Indian market may be said to be moving towards a state of efficiency, leaving no scope for investors to gauge bizarre profits.
Research limitations/implications
The study has incorporated the Indian context for testing anomalies during the start and end of the financial year cycle. The model may be extended further to developed and developing nations’ markets for testing efficiency in their stock markets during the same cycle.
Originality/value
The paper may be the first of its kind to test for the financial year effect on standalone basis for Indian markets. The paper also adds to the existing literature on testing events’ effect.
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Jakob Müllner, Igor Filatotchev and Thomas Lindner
The purpose of this paper is to bridge the disciplinary divide between international finance and international business (IB) to realign academic research with business reality in…
Abstract
Purpose
The purpose of this paper is to bridge the disciplinary divide between international finance and international business (IB) to realign academic research with business reality in which strategy and finance align to determine firms’ success or failures.
Design/methodology/approach
The authors discuss theoretical differences between the fields of international finance and IB strategy that caused the fields to develop in isolation with little fertilization across disciplines. The authors review scarce interdisciplinary contributions between the fields. Finally, the authors identify complementarities that suggest fruitful avenues for future research.
Findings
The authors find a persistent disconnect between finance and strategy/IB literature that can be explained by fundamentally different aims and assumptions about the markets. While finance theory seeks to explain typical effects under functioning markets, strategy and IB theories focus inherently on exceptional effects and market inefficiencies.
Research limitations/implications
The fundamental theoretical differences that isolate finance and strategy/IB create avenues for interdisciplinary research that harness the complementarities of the two disciplines. These include strategic aspects of capital structure, internal capital market inefficiencies, corporate governance, capital market liability of foreignness and institutional aspects of financial management.
Practical implications
With this paper, the authors not only bring academic researchers in finance and strategy closer to corporate practice. The theoretical discussion also challenges the functional blind spots of practitioners and encourages more holistic decision-making.
Social implications
Challenging market functioning and recognizing market inefficiencies using strategy and IB foundations connects financial economics with non-market topics such as environment, society and governance or impact investing.
Originality/value
The value and originality of the paper come from the qualitative, epistemological approach to study and analyse the divide between international finance and strategy/IB scholarship.
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Jani Koskinen, Kai Kristian Kimppa, Janne Lahtiranta and Sami Hyrynsalmi
The competition in the academe has always been tough, but today, the academe seems to be more like an industry than an academic community as academics are evaluated through…
Abstract
Purpose
The competition in the academe has always been tough, but today, the academe seems to be more like an industry than an academic community as academics are evaluated through quantified and economic means.
Design/methodology/approach
This article leans on Heidegger’s thoughts on the essence of technology and his ontological view on being to show the dangers that lie in this quantification of researchers and research.
Findings
Despite the benefits that information systems (ISs) offer to people and research, it seems that technology has made it possible to objectify researchers and research. This has a negative impact on the academe and should thus be looked into especially by the IS field, which should note the problems that exist in its core. This phenomenon of quantified academics is clearly visible at academic quantification sites, where academics are evaluated using metrics that count their output. It seems that the essence of technology has disturbed the way research is valued by emphasising its quantifiable aspects. The study claims that it is important to look for other ways to evaluate researchers rather than trying to maximise research production, which has led to the flooding of articles that few have the time or interest to read.
Originality/value
This paper offers new insights into the current phenomenon of quantification of academics and underlines the need for critical changes if in order to achieve the academic culture that is desirable for future academics.
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Auxane Boch and Bethany Rhea Thomas
Social robotics is a rapidly growing application of artificial intelligence (AI) in society, encompassing an expanding range of applications. This paper aims to contribute to the…
Abstract
Purpose
Social robotics is a rapidly growing application of artificial intelligence (AI) in society, encompassing an expanding range of applications. This paper aims to contribute to the ongoing integration of psychology into social robotics ethics by reviewing current theories and empirical findings related to human–robot interaction (HRI) and addressing critical points of contention within the ethics discourse.
Design/methodology/approach
The authors will explore the factors influencing the acceptance of social robots, explore the development of relationships between humans and robots and delve into three prominent controversies: deception, dehumanisation and violence.
Findings
The authors first propose design factors allowing for a positive interaction with the robot, and further discuss precise dimensions to evaluate when designing a social robot to ensure ethical design technology, building on the four ethical principles for trustworthy AI. The final section of this paper will outline and offer explicit recommendations for future research endeavours.
Originality/value
This paper provides originality and value to the field of social robotics ethics by integrating psychology into the ethical discourse and offering a comprehensive understanding of HRI. It introduces three ethical dimensions and provides recommendations for implementing them, contributing to the development of ethical design in social robots and trustworthy AI.