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This paper aims to show that tax‐motivated early exercise of US employee stock options can be, in principle, rationalized for bullish executives. The paper aims to show empirical evidence consistent with private positive information guiding the timing of the exercises.

The paper uses conventional event study methodology to examine the long‐run relative stock price performance of firms in which executives early exercise and maintain the acquired shares. The long‐run analysis adopts the cumulative abnormal return as well as the buy‐and‐hold methodological approach.

Tax‐motivated early exercise may be justified on the grounds that future stock appreciation can be converted to long‐term capital gains if the shares are held for over one year while, should the stock decline, shares can be sold within a year to count for short‐term losses. The empirical results reveal that executives who early exercise and continue to hold a majority of the shares acquired do so before performance in their company stock is significantly better than a benchmark.

Information‐based early exercise is not a harbinger of poor firm performance, as prior research has suggested. This paper illustrates that private positive information can motivate tax‐based early exercise of employee stock options. Prior research has mostly suggested it cannot. Stock retention upon early exercise indicates the optimism of the exerciser.

The first modeling of an exploitable tax asymmetry upon exercise of US employee stock options. The explicit separation of exercises likely based on positive inside information from those likely based on negative information or other non‐informative reasons.

Globalization has shifted the comparative advantage in the OECD countries away from being based on traditional inputs of production, such as land, labor and capital, towards knowledge. This has triggered a divergence between the competitiveness of firms and the competitiveness of locations. As the strategic management of firms dictated a response to globalization of outward foreign direct investment combined with employment downsizing at high cost locations, public policy has responded by developing the strategic management of places. Policy to promote entrepreneurship has emerged as playing a central role in the strategic management of places, because entrepreneurial activity is the conduit between investments in knowledge and economic growth at the particular location. However, due to the two sources of market failure associated with investments in knowledge and entrepreneurial activity identified in this paper, private agents will tend to under invest in entrepreneurial activity. A major goal of the strategic management of places is to pursue policies that will compensate for this market failure by promoting knowledge-based entrepreneurship as a vehicle for the employment growth and global competitiveness. The purpose of this paper is to explain why and how globalization has triggered the emergence of a new type of public policy – the strategic management of places – and the central role that entrepreneurship plays in this new policy.

The purpose of this paper is to report on a pilot study of the emotional states associated with educational leadership students’ attempts at problem solving “on the fly” in their schools and organizations.

Experience sampling methodology (ESM) was used to study 375 “problem-perceiving moments” in leadership students using iPod touches, followed by individual cognitive interviews (CIs).

Students reported higher levels of intrinsic motivation and cognitive engagement when solving new vs old problems. Students experienced both more positive and more negative emotions when attempting to problem solve than when reporting that they were not solving problems, yet lower levels of self-efficacy coupled with insufficient time to reflect on their leadership goals while at work. Consistent with previous research, students reported engaging in metacognitive and reflective activities more frequently while with supervisors and colleagues. In the CIs, students’ narrative descriptions generally supported the quantitative analysis. For example, students described “putting out fires,” and discussed multi-tasking as a deterrent to problem solving. They also talked about balancing the emotional “highs and lows” throughout their day as well as the role of social affirmation in the problem solving process.

While the limitations of this small pilot study include a small sample using self-report data, the implications for educational leadership faculty are to explicitly integrate psychological research into leadership courses to expand students’ knowledge of creative problem solving and focus on building their self-efficacy.

Even though students might not perceive they are good at problem solving, faculty can help them learn how to regulate their emotions and create teamwork conditions for constructively vetting problems. In turn, this kind of instruction and research can enhance leadership students’ persistence as problem solvers, which may help prevent leadership burnout and turnover.

We address here how the U.S. neoliberal policy regime developed and how its reconstructed vision of modernization, which culminated, under the rubric of globalization, was neutralized by 9/11 and neoconservative geopolitics. We analyze the phases in the rise of neoliberalism, and provide a detailed map of its vision of global modernization at its high tide under Clinton. We also address how the Bush Doctrine's unilateral, preemptive polices and the consequent War on Terror and Iraq War eroded U.S. legitimacy as the globalization system's hegmon and shifted the discourse from globalization to empire. Cold War modernization theorists, neoliberal globalization advocates, and Bush doctrine neoconservatives all drew on an American exceptionalist tradition that portrays the U.S. as modernity's “lead society,” attaches universal significance to its values, policies, and institutions, and urges their worldwide diffusion. All three traditions ignore or diminish the importance of substantive equality and social justice. We suggest that consequent U.S. policy problems might be averted by recovery of a suppressed side of the American tradition that stresses social justice and holds that democracy must start at home and be spread by example rather than by exhortation or force. Overall, we explore the contradictory U.S. role in an emergent post-Cold War world.

Many studies have analyzed how gender diversity and local culture condition the cognitive styles of managers and affect decision-making processes in organizations. Gender diversity has been defended from an equality perspective; it has been argued to improve decision-making processes and to have a positive impact on companies’ return on investment. The purpose of this paper is to analyze the differences between the thinking styles of men and women, in Latin America and the USA that support decision-making processes. An argument is given in favor of gender diversity in management teams, because of its positive implications in decision making.

The measurement instrument used was the Neethling Brain Instrument, developed based on recent neuroscience discovery. The sample comprised 1,216 executives from the USA and several countries in Latin America and the Caribbean, who have participated in executive training programs.

The results show differences in thinking styles by gender, but no differences were found in thinking styles or decision making between men and women at the same managerial level in either of the two regions. Similarly, results suggest that executives in the USA tend to base their management models on strategic thinking styles that focus on interpersonal relations and involve risk taking, while executives in Latin American countries tend to prefer thinking and management styles focusing on data analysis, execution, planning, and process control.

The results of the present study show that, in all regions, men score higher in rational thinking styles associated with the cortical areas, while women gravitate toward thinking styles where emotional schemes prevail, related to subcortical areas. These results could be useful for organizational leaders in charge of allocating roles and tasks to people, based on their thinking style strengths. The results can also be very valuable for Latin American organizations to design specific training and development programs for men and women accordingly with their individual needs and their managerial roles. They can also support the argument that diverse gender teams will guarantee complete decision-making processes.

Diversos estudios han analizado cómo la diversidad de género y las culturas locales condicionan los estilos cognitivos de los gerentes y afectan los procesos de toma de decisiones en las organizaciones. La diversidad de género se ha defendido desde una perspectiva de equidad y se ha argumentado que mejora los procesos de toma de decisiones e impacta positivamente en el retorno a las inversiones de las empresas. En el presente estudio se analizan las diferencias en los estilos de pensamiento entre hombres y mujeres en América Latina y Estados Unidos que sustentan los procesos de toma de decisiones en cada región y se argumenta en favor de la diversidad de género en los equipos gerenciales por sus implicaciones positivas en la toma de decisiones.

El instrumento de medición utilizado es el Neethling Brain Instrument (NBI) desarrollado con base en descubrimientos recientes en las neurociencias. La muestra está compuesta de 1216 ejecutivos de Estados Unidos y varios países de América Latina y el Caribe, participantes en programas de formación ejecutiva.

Los resultados muestran diferencias en los estilos de pensamientos según el género de los ejecutivos, pero no se encontraron diferencias en los estilos de pensamiento y la toma de decisiones entre hombres y mujeres para los mismos niveles gerenciales en las dos regiones. De igual manera, los resultados sugieren que los ejecutivos de Estados Unidos tienden a basar sus modelos de gestión en estilos de pensamiento estratégicos centrados en las relacionales interpersonales y que involucran toma de riesgos, mientras que los ejecutivos de los países latinoamericanos, suelen preferir los estilos de pensamiento y gestión enfocados en el análisis de datos, la ejecución, la planificación y el control de los procesos.

Los resultados del estudio muestran que en todas las regiones los hombres puntúan más alto en los estilos de pensamiento racionales asociados al ámbito cortical y las mujeres en los estilos de pensamiento donde tienden a prevalecer esquemas emocionales asociados a las áreas subcorticales. Estos resultados serían de utilidad para los líderes de las organizaciones responsables de asignar los roles y las tareas a las personas según sus fortalezas en estilos de pensamiento.

This paper aims to provide an evaluation of the new education system, based on Life Skills and Citizenship Education (LSCE), in Egyptian primary schools. This study analyzes how effective could be the implementation of LSCE in the process of constructing active democratic citizens, in particular, in the case of Egypt, highlighting problems facing the new education approach.

The study methodologies are twofold; the content analysis of the primary one new curriculum “Discover”, to assess the curriculum's strengths and weakness; and the questionnaire to the primary six students, to investigate the relationship among the twelve life skills.

Content analysis of the textbook shows that the learning process based on LSCE is appropriate for the construction of active citizens. The textbook provides Egyptian children with the necessary opportunities to learn and create, through creative participatory methods. The relationship between the social dimension and other dimensions has been proven by means of the chi-square test. The relationship between participation and the two approximately absent skills “resilience and empathy” has been clarified as both are strongly interrelated with participation. The results illuminate a strong relationship between participation and the remaining life skills.

More questionnaires are needed to assess the grade of life skills achievement among students in grade one and two, as it is regarded one of the limitations of the present study, owing to the complicated procedures and the limited time.

The research suggests the formulation of wider project-based activities to be included in the textbooks of all the primary grades. In this regard, real contribution with NGOs and local governments shall be developed to facilitate the involvement of children in actual projects, in accordance with their ages, and to encourage students to participate, as they notice the efficient results of their contribution.

The research stresses on the importance of enhancing participation, as it is proven through the chi-square test that it is strongly related to other skills.

The scarcity of analytical studies to evaluate the effectiveness of citizenship education programs on children, after the application of the new Egyptian education system.

The following is an annotated list of materials dealing with information literacy including instruction in the use of information resources, research, and computer skills related to retrieving, using, and evaluating information. This review, the twenty‐second to be published in Reference Services Review, includes items in English published in 1995. After 21 years, the title of this review of the literature has been changed from “Library Orientation and Instruction” to “Library Instruction and Information Literacy,” to indicate the growing trend of moving to information skills instruction.

The purpose of this study is to contribute to the research of knowledge management in higher education institutions (HEIs) by studying the enablers of knowledge entrepreneurship. Anchored in the dynamic capability theory, knowledge entrepreneurship is heterogeneously distributed in HEIs and is critical for the sustenance of organizations in the knowledge economy. This aim is realized by understanding the determinants of knowledge entrepreneurship and empirically investigating the relationship of knowledge-sharing behaviour and entrepreneurial leadership with knowledge entrepreneurship.

Data was collected through structured questionnaires from 550 faculty members of HEIs in Pakistan by adequately representing the sample size through regional stratification and proportionate sampling. Data was analyzed through the Analysis of Moment Structures software where the data validation and reliability were achieved using correlations, confirmatory factor analysis and structured equation modelling to generate generalizable results.

The findings revealed that knowledge sharing is an important component in developing knowledge entrepreneurship. Entrepreneurial leadership is pivotal in providing the support, vision and autonomy to individuals with personal and professional capabilities to ensure the creation of new knowledge, collaboration and innovation.

The study contributes to an understanding of relationship of knowledge sharing and entrepreneurial leadership that leads to promotion of knowledge entrepreneurship in HEIs of Pakistan. In addition, the findings of the study extend the existing literature on knowledge entrepreneurship by offering the positive mediating role of entrepreneurial leadership in the universities of Pakistan, hence, addressing the specific challenges and opportunities faced by the HEIs of a developing country like Pakistan. The theoretical framework of the study elucidates the importance of knowledge sharing and entrepreneurial leadership by using the dynamic capabilities theory and extends the scope of the aforementioned theory in entrepreneurial leadership realm.

By generating an understanding of the dynamics of knowledge entrepreneurship this study tries to help policymakers and educational leaders to develop strategies to cultivate a culture of knowledge sharing and entrepreneurial leadership in Pakistani HEIs. Building the entrepreneurial ecosystem entails prioritizing knowledge creation, knowledge sharing and retention that can lead to innovative solutions for local and global challenges.

The study used dynamic capabilities theory to link the knowledge and resources together for the education sector for sustainable outcomes in the knowledge economy. To the best of the authors’ knowledge, this is the first study to empirically study the behaviour of HEIs to create and support knowledge entrepreneurship in the presence of entrepreneurial leadership in the context of a developing country, Pakistan. Becoming a knowledge-based society will help Pakistan upgrade itself to the list of developed countries.