Thomas J. Vogel and John D. McGinnis
Reviews previous research on agency theory, the use of long‐term performance plans to align the interests of managers and shareholders, and the effect of these plans on firm…
Abstract
Reviews previous research on agency theory, the use of long‐term performance plans to align the interests of managers and shareholders, and the effect of these plans on firm performance. Uses data from a sample of 29 US companies adopting/changing long‐term performance plans and a matched control sample to test the impact of these plans on a firm’s share price volatility (beta), asset growth/volatility and leverage. Presents and discusses the results, which suggest that beta, leverage and asset return volatility are all increased. Concludes that the plans decrease managers’ risk aversion.
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John D. McGinnis, James A. Miles, Shin‐Herng Michelle Chu and Terry L. Campbell
Relates previous research on the importance of age in decision‐making to Fama and Jensen’s (1983) ideas on decision management, develops hypotheses on the age of managers and the…
Abstract
Relates previous research on the importance of age in decision‐making to Fama and Jensen’s (1983) ideas on decision management, develops hypotheses on the age of managers and the use of stock‐based compensation in companies with long time horizons (i.e. growth companies) and tests them on 1979‐1987 data for a sample of US firms. Explains the methodology used and presents the results, which show that these firms tend to have younger subordinate executives (but not younger CEOs) and to use less stock‐based compensation the younger these executives are. Suggests this is because younger executives effectively extend the time horizon of older CEOs, thus reducing the need to do this through the compensation package.
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Eddy S. Ng and Emma Parry
Interest in generational research has garnered a lot of attention, as the workplace is seeing multiple generations (i.e., the Silent Generation, Baby Boomers, Gen Xers, and…
Abstract
Interest in generational research has garnered a lot of attention, as the workplace is seeing multiple generations (i.e., the Silent Generation, Baby Boomers, Gen Xers, and Millennials) working side-by-side for the first time. However, it is unclear how multiple generations of workers interact with each other and affect the workplace. Although there is extant literature on generational differences, some scholars have argued that the effect sizes are small and the differences are not meaningful. The focal aim of this chapter is to present the current state of literature on generational research. We present the relevant conceptualizations and theoretical frameworks that establish generational research. We then review evidence from existing research studies to establish the areas of differences that may exist among the different generations. In our review, we identify the issues arising from generational differences that are relevant to human resource management (HRM) practices, including new workforce entrants, aging workers, the changing nature of work and organizations, and leadership development. We conclude with several directions for future research on modernizing workplace policies and practices, ensuring sustainability in current employment models, facilitating future empirical research, and integrating the effects of globalization in generational research.
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In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of…
Abstract
In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.
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Lindsay J. Hastings and L.J McElravy
Considering the substantial upcoming transfer of leadership to younger generations, it is critical to study the unique trait, skill, and behavioral associations of youth leaders…
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Considering the substantial upcoming transfer of leadership to younger generations, it is critical to study the unique trait, skill, and behavioral associations of youth leaders. The purpose of this two-phase study was to quantitatively examine the relationship between positive psychological capacities (PsyCap), personality, and empathy with leadership skills in youth. Regression results from both phases revealed cognitive empathy and academic PsyCap as significant predictors of youth leadership life skills. These results follow earlier research that identified trait-based emotional intelligence as a significant predictor of leadership skills in youth. The combined results offer important considerations as leadership scholars and practitioners attempt to accurately predict and plan for the leadership transfer landscape over the next two decades. These combined results also serve as helpful considerations for youth leadership practitioners as program outcomes, learning objectives, and activities targeting the development of cognitive empathy and PsyCap will perhaps allow for more productive youth leadership development efforts and better documentation of their impact.
Surging global natural disasters provide incentive for risk-reducing policies and strategies. In this light, the African Union (AU) engaged a multi-stakeholder policy formulation…
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Surging global natural disasters provide incentive for risk-reducing policies and strategies. In this light, the African Union (AU) engaged a multi-stakeholder policy formulation process between 2002 and 2006, to develop a continent-wide disaster risk reduction (DRR) strategy. Drawing from secondary data, this chapter assesses the process and applies qualitative analysis instruments to critically assess the AU’s disaster policy. Linkages to the 2005 international Hyogo Framework for Action (HFA) are also highlighted. The analysis reveals that Africa’s policy formulation process was belated for over a decade, with respect to international expectations. The formulation process was however largely African owned and led, culminating in a strategy document that reflected African contextual reality at the time, and aligned well with HFA fundamental goals. The applied multi-stakeholder approach enhanced a spirit of participation across levels and was central to the largely successful policy formulation process. However, targeted policy outcomes were not explicit, and poorly formulated indicators marred short- and long-term policy evaluation. Based on these results, we conclude that the African-wide DRR policy formulation processes were belated but participatory, systematic and very successful. Belated policy formulation reflects an initial inertia on the African continent, justified by past negative policy experiences and the desire to succeed. A replication of this policy formulation approach in Africa is recommended, albeit exercising more caution on policy timing, the elaboration of better monitoring and evaluation instruments and criteria. Participation should further embrace modern, risk-free (anti-COVID-19-friendly) information and communication technologies.
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Bloomington scholars are critical of the rather wide-spread “Model Platonism” of both Austrian and Chicago economists. Their empirical, B, perspective avoids the more extreme…
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Bloomington scholars are critical of the rather wide-spread “Model Platonism” of both Austrian and Chicago economists. Their empirical, B, perspective avoids the more extreme views of both Austrian “mindful economics,” A, and Chicago “mindless economics,” C. Yet the B is not a mere convex combination of A and C. It is rather a psychologically grounded empirical evidence-oriented approach that keeps clear of the non-empirical spirit of von Mises’ and Selten’s methodological dualism on one hand and the instrumentalist and behaviorist spirit of much of neo-classical economics on the other hand.
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Babak Taheri, Thomas Farrington, Keith Gori, Gill Hogg and Kevin D. O’Gorman
The purpose of this paper is to investigate the relationships between consumer motivations, their interactions with hospitality spaces and experiential outcomes. Enhancing…
Abstract
Purpose
The purpose of this paper is to investigate the relationships between consumer motivations, their interactions with hospitality spaces and experiential outcomes. Enhancing consumer experience is of clear interest to industry professionals. This quantitative study explores the impact of escapism and entitlement to leisure upon involvement in liminoid consumptions spaces, thereby contributing a theory of liminoid motivators within commercial hospitality.
Design/methodology/approach
This study adopts a quantitative methodology, using a survey of a sample of student nightclubbers in the UK. Data are analysed through Partial Least Squares.
Findings
Hospitality consumers are positively affected by the feelings of increased involvement experienced in consumption spaces that exhibit liminoid characteristics.
Research limitations/implications
Surveys involve potential for error regarding respondents’ ability to agree with questionnaire statements. Data collection was conducted in Scotland, and so, results may not be generalised to other commercial hospitality spaces outside of Scotland.
Practical implications
Hospitality consumers become more involved, and thereby more satisfied, in liminoid consumption spaces when motivated by escapism and entitlement to leisure. Attending to the liminoid motivators that drive consumers away from work and domesticity, and towards commercial hospitality spaces, will go some way towards creating the desired consumer experience.
Originality/value
This is the first quantitative study to investigate consumer motivations to escape and entitlement to leisure as antecedents of involvement in a commercial hospitality context. It develops a theory of hospitality consumption using the liminoid anthropological concept.