Search results

Organizations can greatly benefit from the transfer of knowledge from older employees to younger generations. However, older workers often hesitate to share their expertise with their younger colleagues. Grounded in conservation of resources theory and the stereotype threat framework, this study aims at examining the negative impact of age-based stereotype threat on organizational knowledge management.

The authors developed a moderated mediation model and collected data from 219 older workers with a time-lagged design to explore the effect of age-based stereotype threat on older workers’ knowledge hiding.

The results showed that age-based stereotype threat could lead to knowledge hiding behaviors among older workers due to increased job insecurity, and leader-member exchange can potentially mitigate these effects.

The findings underscore the detrimental effect of age-based stereotype threat on organizational knowledge management and suggest that organizations should foster an age-inclusive environment to facilitate effective intergenerational knowledge transfer.

This paper aims to evaluate the suggestion that the antecedents of union commitment and participation may differ between foreign-invested enterprises (FIEs) and state-owned enterprises (SOEs) in China based on the view that SOE unions will focus more strongly on the traditional dual role, emphasising on managerial functions and employee welfare.

The paper is based on employee surveys in two enterprises in Shanghai, one FIE and one SOE. Employee attitudes towards the union and enterprise were measured using a self-completion questionnaire, and data were analysed using structural equation modelling.

Findings suggest that pro-union attitudes were more salient in the FIE context. In contrast, SOE workers’ allegiance to the union appeared to be a less reflection of pro-union attitudes and was more narrowly instrumental.

The findings suggest that FIEs workers’ union allegiances are more likely to reflect a pro-union orientation, with SOE workers more likely to see their union allegiances in narrowly instrumental terms. In FIEs, with a profit-oriented and privately managed enterprise, union allegiances may be closer to those of Western market economies, whilst in SOEs, the “dual role” model persists, with unions a service provider rather than an independent employee representative.

The findings in this paper provide an initial test of the potential differences in the antecedents of union commitment and participation across FIEs and SOEs. Future research is needed to build on these findings, in particular, adopting multi-enterprise study designs across different enterprise types.

The purpose of this paper is to examine the dividend payments and share repurchases of dual-class firms that have both their superior voting shares and inferior voting shares publicly traded.

This paper uses matched dual-class and single-class samples from 1994 to 2015 and logit models to evaluate the likelihoods of dividend payment and share repurchase between dual-class firms and single-class firms.

The results show that dual-class firms are more likely than the matched sample of single-class firms to pay dividends in both share classes. Dual-class firms, however, are more likely to repurchase their superior shares than single-class firms and their inferior shares.

The results suggest that dual-class firms do not use corporate payouts to either mitigate agency problems or maintain the private benefits of control. Instead, dual-class firms use dividend payments to mitigate agency problems while using repurchases of superior shares to maintain the private benefits of control, which supports the agency payout hypothesis.

This paper highlights the differences between dividend payments and share repurchases as forms of corporate payouts and suggests that firms may choose a particular form for a particular purpose.

This paper provides the first piece of empirical evidence on the corporate payouts of dual-class firms separating their superior voting shares and inferior voting shares.

The purpose of this paper is to test the hypothesis that relative to a cash acquisition, a stock acquisition would increase the bidder’s investor base and lower Merton’s (1987) shadow cost, which in turn contributes positively to the bidder announcement return.

Using the number of registered shareholders and measures of institutional ownership as the proxies for investor base and investor recognition, this paper compares their changes and the changes in shadow cost between bidders using different methods of payment. The authors examine the relation between the shadow cost reduction and bidder announcement return in a multivariate framework.

This paper finds that given the target type, bidders using stocks experience significantly larger increases in their investor bases and investor recognition than bidders using cash. Additionally, only bidders using stocks experience significant decreases in their shadow costs. In a multivariate framework, the change in the shadow cost has a negative and significant effect on the bidder announcement return in the sample of stock acquisitions and the subsample of bidders using stocks to acquire private targets. These findings support the authors’ hypothesis and suggest that the less established bidders acquiring private targets in particular benefit from the shadow cost reduction.

This paper provides the direct evidence that investor recognition matters in mergers and acquisitions. The findings also provide a complementary explanation for the documented positive bidder returns when bidders use stocks to acquire private targets.

This study aims to examine the relationship between contextual factors and career exploration. Career adaptability mediates the relationship between social support, sense of belonging and career exploration.

This quantitative study involved 291 undergraduates recruited from two universities in China. Data were analyzed using structural equation modeling.

The results indicated that social support and sense of belonging were positively related to career adaptability. Career adaptability was found to be a mediator between relational predictors and career exploration. Contrary to our hypothesis, the direct path from sense of belonging to career exploration was insignificant.

This study highlights the importance of career adaptability in connecting contextual indicators and career exploration in the Chinese context.

The purpose of this paper is to examine the order strategies of investors, in particular their use of intermarket sweep orders (ISOs), in response to a short‐lived information event.

This paper uses a natural experiment on September 8, 2008, in which a 2002 bankruptcy story of United Airlines erroneously reappears through Bloomberg terminals and cause significant price changes on the stock. The authors first provide the background information of this natural experiment and use bootstrapping methods and regression analyses to examine investors' use of intermarket sweep orders.

The results show that investors use intermarket sweep orders, a unique type of liquidity‐demanding limit orders, in attempts to exploit their short‐lived information. In particular, those investors show aggressiveness not only in trade speed but also in trade size. These findings support the hypothesis that investors with short‐lived information demand immediacy to conserve the value of their information.

The results suggest that investors on the demand side of liquidity dynamically trade off the potential adverse impact of trade‐throughs with the speed their trades are executed. How limit order traders on the supply side or liquidity suppliers in general adjust to the demand‐side dynamics remains a future research direction.

This paper highlights the fragility of information transmission in financial markets and suggests that the use of intermarket sweep orders could possibly magnify the impacts of erroneous information.

Using a natural experiment, this paper provides the first piece of empirical evidence on the use of intermarket sweep orders when investors possess short‐lived information.

This paper aims to examine how the official discourse of frugality evolved in China between 1979 and 2015.

The study uses historical and textual analysis. It divides the Chinese official discourse on frugality between 1979 and 2015 into four periods: 1979-1992, 1993-2002, 2003-2012 and 2013-2015.

A Chinese official discourse on frugality persisted between 1979 and 2015, even though during the same period, China transformed from a socialist economy of central planning and insufficient supply to a market economy of excessive supply and weak consumer demand. The intensity of this official discourse frequently vacillated, adjusting to both economic and political conditions of the time as part of the larger political-economic contestation between competing ideas and policies.

There have been calls for more studies on how frugality discourses have evolved in international markets, especially in terms of how they are shaped by local historical antecedents and long-standing tensions. Through the Chinese case, this article illuminates why some traditional values persist and obtain a paradoxical co-existence with consumerist ethos in our modern society.