Mostafa Monzur Hasan and Adrian (Wai Kong) Cheung
This paper aims to investigate how organization capital influences different forms of corporate risk. It also explores how the relationship between organization capital and risks…
Abstract
Purpose
This paper aims to investigate how organization capital influences different forms of corporate risk. It also explores how the relationship between organization capital and risks varies in the cross-section of firms.
Design/methodology/approach
To test the hypothesis, this study employs the ordinary least squares (OLS) regression model using a large sample of the United States (US) data over the 1981–2019 period. It also uses an instrumental variable approach and an errors-in-variables panel regression approach to mitigate endogeneity problems.
Findings
The empirical results show that organization capital is positively related to both idiosyncratic risk and total risk but negatively related to systematic risk. The cross-sectional analysis shows that the positive relationship between organization capital and idiosyncratic risk is significantly more pronounced for the subsample of firms with high information asymmetry and human capital. Moreover, the negative relationship between organization capital and systematic risk is significantly more pronounced for firms with greater efficiency and firms facing higher industry- and economy-wide risks.
Practical implications
The findings have important implications for investors and policymakers. For example, since organization capital increases idiosyncratic risk and total risk but reduces systematic risk, investors should take organization capital into account in portfolio formation and risk management. Moreover, the findings lend support to the argument on the recognition of intangible assets in financial statements. In particular, the study suggests that standard-setting bodies should consider corporate reporting frameworks to incorporate the disclosure of intangible assets into financial statements, particularly given the recent surge of corporate intangible assets and their critical impact on corporate risks.
Originality/value
To the best of the authors' knowledge, this is the first study to adopt a large sample to provide systematic evidence on the relationship between organization capital and a wide range of risks at the firm level. The authors show that the effect of organization capital on firm risks differs remarkably depending on the kind of firm risk a particular risk measure captures. This study thus makes an original contribution to resolving competing views on the effect of organization capital on firm risks.
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Research in corporate settings has demonstrated the importance of leaders seeking feedback on such dimensions as credibility, effectiveness, engagement, and productivity. This…
Abstract
Research in corporate settings has demonstrated the importance of leaders seeking feedback on such dimensions as credibility, effectiveness, engagement, and productivity. This study looked at feedback seeking behavior by student leaders. Explored were the extent to which feedback-seeking impacted how people felt when working with leaders, and how feedback-seeking might be influenced by age, gender, ethnicity, nationality, leadership experiences, and skill levels. Using an archival database, the sample included responses from 91,561 student leaders and observations from 365,747 of their peers. Few substantive differences were found on the basis of demographics, while those with more leadership experiences and skills reported the highest frequency of feedback-seeking behavior. Engagement levels were positively related to the frequency to which leaders sought feedback from others. Implications for future research and suggestions for the development of student leaders are provided.
Jan F. Klein, Yuchi Zhang, Tomas Falk, Jaakko Aspara and Xueming Luo
In the age of digital media, customers have access to vast digital information sources, within and outside a company's direct control. Yet managers lack a metric to capture…
Abstract
Purpose
In the age of digital media, customers have access to vast digital information sources, within and outside a company's direct control. Yet managers lack a metric to capture customers' cross-media exposure and its ramifications for individual customer journeys. To solve this issue, this article introduces media entropy as a new metric for assessing cross-media exposure on the individual customer level and illustrates its effect on consumers' purchase decisions.
Design/methodology/approach
Building on information and signalling theory, this study proposes the entropy of company-controlled and peer-driven media sources as a measure of cross-media exposure. A probit model analyses individual-level customer journey data across more than 25,000 digital and traditional media touchpoints.
Findings
Cross-media exposure, measured as the entropy of information sources in a customer journey, drives purchase decisions. The positive effect is particularly pronounced for (1) digital (online) versus traditional (offline) media environments, (2) customers who currently do not own the brand and (3) brands that customers perceive as weak.
Practical implications
The proposed metric of cross-media exposure can help managers understand customers' information structures in pre-purchase phases. Assessing the consequences of customers' cross-media exposure is especially relevant for service companies that seek to support customers' information search efforts. Marketing agencies, consultancies and platform providers also need actionable customer journey metrics, particularly in early stages of the journey.
Originality/value
Service managers and marketers can integrate the media entropy metric into their marketing dashboards and use it to steer their investments in different media types. Researchers can include the metric in empirical models to explore customers' omni-channel journeys.
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Tommaso Stomaci, Francesco Buonamici, Giacomo Gelati, Francesco Meucci and Monica Carfagni
Left atrial appendage occlusion (LAAO) is a structural interventional cardiology procedure that offers several possibilities for the application of additive manufacturing…
Abstract
Purpose
Left atrial appendage occlusion (LAAO) is a structural interventional cardiology procedure that offers several possibilities for the application of additive manufacturing technologies. The literature shows a growing interest in the use of 3D-printed models for LAAO procedure planning and occlusion device choice. This study aims to describe a full workflow to create a 3D-printed LAA model for LAAO procedure planning.
Design/methodology/approach
The workflow starts with the patient’s computed tomography diagnostic image selection. Segmentation in a commercial software provides initial geometrical models in standard tessellation language (STL) format that are then preprocessed for print in dedicated software. Models are printed using a commercial stereolithography machine and postprocessing is performed.
Findings
Models produced with the described workflow have been used at the Careggi Hospital of Florence as LAAO auxiliary planning tool in 10 cases of interest, demonstrating a good correlation with state-of-the-art software for device selection and improving the surgeon’s understanding of patient anatomy and device positioning.
Originality/value
3D-printed models for the LAAO planning are already described in the literature. The novelty of the article lies in the detailed description of a robust workflow for the creation of these models. The robustness of the method is demonstrated by the coherent results obtained for the 10 different cases studied.
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Meng-Jun Hsu, Hiram Ting, Tsz-Wai Lui, Shih-Chih Chen and Jun-Hwa Cheah