Recent publications have highlighted the effectiveness of using a consistent tangent modulus when solving elastic‐plastic problems. The formulation of a consistent tangent modulus…
Abstract
Recent publications have highlighted the effectiveness of using a consistent tangent modulus when solving elastic‐plastic problems. The formulation of a consistent tangent modulus is closely related to the scheme used to integrate the constitutive equations. Recent work has shown how many of these schemes currently in use can be derived from certain broad classes of algorithms. In this paper these procedures are examined for a number of commonly used yield/failure criteria. For certain cases a remarkably simple formulation results which can lead to considerable savings in computational time.
Samantha L. Jordan, Andreas Wihler, Wayne A. Hochwarter and Gerald R. Ferris
Introduced into the literature a decade ago, grit originally defined as perseverance and passion for long-term goals has stimulated considerable research on positive effects…
Abstract
Introduced into the literature a decade ago, grit originally defined as perseverance and passion for long-term goals has stimulated considerable research on positive effects primarily in the academic and military contexts, as well as attracted widespread media attention. Despite recent criticism regarding grit’s construct and criterion-related validity, research on grit has begun to spill over into the work context as well. In this chapter, the authors provide an overview of the initial theoretical foundations of grit as a motivational driver, and present newer conceptualizations on the mechanisms of grit’s positive effects rooted in goal-setting theory. Furthermore, the authors also draw attention to existing shortcomings of the current definition and measurement of grit, and their implications for its scientific and practical application. After establishing a theoretical understanding, the authors discuss the potential utility of grit for human resource management, related to staffing and recruitment, development and training, and performance management systems as well as performance evaluations. The authors conclude this chapter with a discussion of necessary and potential future research, and consider the practical implications of grit in its current state.
Details
Keywords
Managers today, in looking for ways to manage their staffeffectively and to increase productivity, too often turn to the latest“management tool” or technique as the panacea to all…
Abstract
Managers today, in looking for ways to manage their staff effectively and to increase productivity, too often turn to the latest “management tool” or technique as the panacea to all their manpower problems. Attracted by glossy promises or presentations, these are introduced, generally from the top, without reference to the ever‐growing research evidence. Reviews some of the research into the use of goals in organizations. Concludes that there is research evidence to show that staff at all levels involved in setting their own goals will increase their production, quality and motivation, but that the setting of goals does not require a complex and costly process. The use of any goal is better than no goal but outcomes are better in simple participative systems.
Details
Keywords
Mukesh Bajaj, Sumon C. Mazumdar and Daniel A. McLaughlin
Following the Supreme Court’s 1988 decision in Basic, securities class plaintiffs can invoke the “rebuttable presumption of reliance on public, material misrepresentations…
Abstract
Following the Supreme Court’s 1988 decision in Basic, securities class plaintiffs can invoke the “rebuttable presumption of reliance on public, material misrepresentations regarding securities traded in an efficient market” [the “fraud-on-the-market” doctrine] to prove classwide reliance. Although this requires plaintiffs to prove that the security traded in an informationally efficient market throughout the class period, Basic did not identify what constituted adequate proof of efficiency for reliance purposes.
Market efficiency cannot be presumed without proof because even large publicly traded stocks do not always trade in efficient markets, as documented in the economic literature that has grown significantly since Basic. For instance, during the recent global financial crisis, lack of liquidity limited arbitrage (the mechanism that renders markets efficient) and led to significant price distortions in many asset markets. Yet, lower courts following Basic have frequently granted class certification based on a mechanical review of some factors that are considered intuitive “proxies” of market efficiency (albeit incorrectly, according to recent studies and our own analysis). Such factors have little probative value and their review does not constitute the rigorous analysis demanded by the Supreme Court.
Instead, to invoke fraud-on-the-market, plaintiffs must first establish that the security traded in a weak-form efficient market (absent which a security cannot, as a logical matter, trade in a “semi-strong form” efficient market, the standard required for reliance purposes) using well-accepted tests. Only then do event study results, which are commonly used to demonstrate “cause and effect” (i.e., prove that the security’s price reacted quickly to news – a hallmark of a semi-strong form efficient market), have any merit. Even then, to claim classwide reliance, plaintiffs must prove such cause-and-effect relationship throughout the class period, not simply on selected disclosure dates identified in the complaint as plaintiffs often do.
These issues have policy implications because, once a class is certified, defendants frequently settle to avoid the magnified costs and risks associated with a trial, and the merits of the case (including the proper application of legal presumptions) are rarely examined at a trial.