Search results

There has been considerable debate on the linear relationship between systematic risk and return. The purpose of this study is to investigate whether security return can be explained by systematic risk.

This study employs the market model to test the effect of excess return on portfolio returns. The paper divides total risk into systematic and idiosyncratic risk to examine whether the degree of inefficient portfolio diversification impairs the applicability of the capital asset pricing model (CAPM). In the two‐pass cross‐sectional regressions, the paper assesses whether excess return on a security is directly proportional to the security's beta. The paper also incorporates the total variance of securities and the squared value of beta to capture idiosyncratic risk and the nonlinear risk‐return relationship.

The CAPM is rejected due to positive intercepts in most portfolios and there are large proportions of idiosyncratic risk in these portfolios. Two‐pass regressions show that the security market line theory is valid when additional variables are included in the equation. However, survivorship bias appears to be present in the selected sample.

Since large excess returns are present in the models, the traditional CAPM is rejected and incomplete portfolio diversification can be explained by high levels of idiosyncratic risk.

The authors find that inefficient portfolio diversification is due to the level of idiosyncratic risk in a portfolio. Evidence of the nonlinear beta‐return relationship suggests that the traditional CAPM is misspecified.

In this book the terms ‘clean language’ and ‘clean language interviewing’ are written using lower case, according to the convention of the American Psychological Association (sixth edition). ‘Clean language interviewing’ is sometimes abbreviated to CLI.

To conclude this book, we take stock of the state of the field of clean language interviewing (CLI). The field has matured considerably in 20 years and yet is still young and emergent. Through articulating the principles of CLI and exploring its application in many fields of practice, we hope this book might come to be seen as a milestone on its path. From its informal beginnings and earliest applications, we believe we can claim with justification that clean language interviewing has developed into a well-specified, well-tested and well-appreciated method that can be used to access both explicitly- and tacitly-held knowledge in a wide range of research projects.

As editors of this volume, we have been gratified and humbled by the ways in which CLI has been used by the contributors. Part II has demonstrated the value of clean language interviewing in both academic and applied research. The applications presented illustrate that CLI has breadth – given the diverse fields in which it has been applied – as well as depth, due to the various levels at which it can be used.

Our aim in this chapter is to reflect on themes that have emerged from the contributions in Part II and the experience of compiling the book as a whole. We begin by reviewing the frameworks that we regard as essential to CLI, then discuss three issues of practice and theory that have emerged from Part II. We sum up the key benefits and limitations of CLI for interviewers and interviewees before indicating some possible directions for future research.

Argues that employee turnover is highest among employees who are not satisfied with their jobs. Because qualified employees are becoming more scarce and difficult to retain, organizations need to focus on increasing employee satisfaction. Suggests that one useful approach for increasing employee satisfaction is to view workers as customers. Based on the notion of employee as customer, illustrates how a customer satisfaction measurement approach can be applied to the measurement of employee attitudes. Suggests that the metaphor of employee as customer is indeed useful. Also demon‐strates how this approach yields actionable results that managers can implement to increase employee satisfaction and thereby retention.

This paper examines industry responses in Australasia and Europe to the growing practice of ambush marketing, to establish whether the measures that have been put in place to deter the practice have indeed prevented the 'ambush' effect, whereby audiences associate non-sponsoring organisations with particular sporting events. Although some of these measures may be more effective than others in blocking ambush attempts, they also come with potentially negative consequences for event sponsors.

A systematic literature review (SLR) was used to identify and analyze literature related to use of system dynamics (SD) applications in organizational performance measurement (PM) research. The purpose of this article is to present the results of a thematic analysis (TA) conducted to synthesize existing empirical evidence, investigate trends and evaluate developments in the research area.

A SLR was conducted resulting in a dataset of 97 articles in this research area. Using TA, major themes/subthemes were inductively synthesized to explore the current development and emerging trends and provide guidance for future research.

The TA resulted in seven themes in the research area – Enhancing knowledge, Approaches to operationalizing PM systems, Utilizing simulation models, Improving organizational outcomes, Achieving strategic alignment, Applying systems thinking and Identifying critical variables. The analysis suggests that although SD has the potential to improve PM systems, there are many limitations and challenges that must be addressed to improve implementation and practical applications. In addition, the results showed that much of the work is exploratory and many fail to fully validate their models suggesting that this research is still in an relatively early phase of development.

The results of this study are limited to the 97 articles identified using the SLR protocol. Although the search was designed to be comprehensive, there may be other relevant literature that was excluded. Further, the TA was limited to addressing the research questions.

A key insight for managers is that these tools would support decision-makers in understanding performance behaviors and identifying performance drivers for improvement. This suggests that stakeholders can adopt the approach to improve understanding and effectiveness of PM, and to enhance strategic decision-making.

This study provides a distinct and thorough analysis of this research area by conducting an inductive synthesis of developments and challenges and guidance for future research and practice. The resulting thematic model, identified code definitions and proposed framework of strategies to overcome challenges, provide a general overview and resource to support future studies in the research area and facilitate practical use of SD capabilities to support PM.

The Internet and social media have fundamentally transformed the ways in which individuals find jobs. Relatively little is known about how demand-side market actors use online information and the implications for social stratification and mobility. This study provides an in-depth exploration of the online recruitment strategies pursued by human resource (HR) professionals. Qualitative interviews with 61 HR recruiters in two southern US metro areas reveal two distinct patterns in how they use Internet resources to fill jobs. For low and general skill work, they post advertisements to online job boards (e.g., Monster and CareerBuilder) with massive audiences of job seekers. By contrast, for high-skill or supervisory positions, they use LinkedIn to target passive candidates – employed individuals who are not looking for work but might be willing to change jobs. Although there are some intermediate practices, the overall picture is one of an increasingly bifurcated “winner-take-all” labor market in which recruiters focus their efforts on poaching specialized superstar talent (“purple squirrels”) from the ranks of the currently employed, while active job seekers are relegated to the hyper-competitive and impersonal “black hole” of the online job boards.