Daniel Liston-Perez and Juan Pablo Gutierrez
The purpose of this paper is to examine the temporal impact of individual and institutional investor sentiment on sin stock returns.
Abstract
Purpose
The purpose of this paper is to examine the temporal impact of individual and institutional investor sentiment on sin stock returns.
Design/methodology/approach
The authors estimate vector autoregressive models (VARs) to assess the dynamic relationships amongst pure sin returns and both types of investor sentiment. The justification for estimating VARs is that it allows one to study the potential influence that shocks (i.e. innovations) in individual and institutional investor sentiment might have on pure sin returns over time. Sin stock returns are separated into a market-based and pure sin component. Additionally, the authors split both measures of investor sentiment into rational- and irrational-based components.
Findings
This study finds that shocks to both individual and institutional rational-based sentiment positively influence pure sin returns for up to four months. However, irrational-based shocks have a positive, weaker and insignificant effect on pure sin returns. In addition, the results for the pure sin portfolio are compared to the S&P 500 and a comparables portfolio. The results show that sin stocks are less responsive than the S&P and the comparables portfolio to shocks in investor sentiment.
Originality/value
This study addresses some of the limitations found in the only prior study of sin stocks and investor sentiment (Perez Liston, 2016). Specially, this study investigates the link between sin stocks and sentiment in a dynamic context and also focuses the analysis on pure sin returns.
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Lourdes Rivero-Gutierrez, Pablo Cabanelas, Francisco Diez-Martin and Alicia Blanco-Gonzalez
Foreign markets possess different characteristics to domestic ones; this means that dynamic marketing capabilities (DMCs) should be adjusted. This paper aims to understand how…
Abstract
Purpose
Foreign markets possess different characteristics to domestic ones; this means that dynamic marketing capabilities (DMCs) should be adjusted. This paper aims to understand how these DMCs enable firms to achieve greater legitimacy in international markets.
Design/methodology/approach
This research uses a qualitative approach based on in-depth interviews in collaboration with an association of exporting firms.
Findings
Findings suggest five areas of DMCs to improve organizational legitimacy overseas: flexibility, relationship management, local market sensitivity, anticipation and exemplariness. Those capabilities should be combined and will play a different role depending on the implementation phase of the external company. Resource allocation and capability development should follow an integrative approach emphasizing proximity, adaptability, alliances, engagement and credibility to reach differentiation in foreign markets.
Originality/value
The originality is mainly focused on the cohabitation and strong synergies between DMCs and legitimacy. This aspect is particularly relevant because legitimized companies have higher levels of survival, which is fundamental in the international venture.
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Juan A. Correa, Pablo Gutiérrez, Miguel Lorca, Raúl Morales and Francisco Parro
This paper aims to study the effect of family socioeconomic status (SES) on academic and labor market outcomes.
Abstract
Purpose
This paper aims to study the effect of family socioeconomic status (SES) on academic and labor market outcomes.
Design/methodology/approach
The authors used a rich data set of administrative records for test scores, individual background and adult earnings of a cohort of agents, covering a period spanning the agents' upper-secondary education and their early years in the labor market.
Findings
The authors find that students with the highest SES obtained a 1.5 standard deviations higher score in the college admission test than students who had the same academic outcomes in the eighth grade test but belong to the lowest SES. Similarly, among students that obtained the same scores in the college admission test, those with the highest SES earned monthly wages 0.7 standard deviations higher than those with the lowest SES.
Originality/value
The findings highlight that family socioeconomic background continues to influence outcomes during individuals’ upper secondary education and early years in the labor market.
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Óscar Gallo, Diego René Gonzales–Miranda, Juan Pablo Roman-Calderon and Gustavo A. García
The purpose of this article is to show how a group of Colombian millennials perceive different aspects of working life and how their ideas about job satisfaction, professional…
Abstract
Purpose
The purpose of this article is to show how a group of Colombian millennials perceive different aspects of working life and how their ideas about job satisfaction, professional expectations and levels of autonomy are related to contemporary demands about inclusion, diversity, equity, autonomy and control.
Design/methodology/approach
With this objective, 167 semi-structured interviews were conducted with millennials who work at 10 Colombian companies from the manufacturing and service sectors, located in the five main cities of the country. With a qualitative approach, in the interviews, the research team used a strategy inspired by the technique of generating visual structures associated with grounded theory.
Findings
It is concluded that new generations of Colombian workers know of the importance of rewards and autonomy in work and are more critical and less passive in the face of unhealthy working conditions. At the same time, their conduct and speeches are the consequence of the characteristics of the Colombian labour market. The document responds to the need to deepen the debates on welfare and happiness in organizations and to include the demands of millennials in the reflective and political horizon of the ideas of healthy employment and decent work. In practice, this article seeks to demystify ideas about millennials in Colombia and critically contribute to reflection on intergenerational relations in organizations and salary and welfare models. As a Latin American case, it is an original contribution that avoids the common places and the frivolity with which the insertion of the new generations into the working world has been analysed.
Practical implications
In practice, this paper seeks to demystify ideas about millennials in Colombia and critically contribute to reflection on intergenerational relations in organizations and salary and welfare models.
Originality/value
As a Latin American case, it is an original contribution that avoids the common places and the frivolity with which the insertion of the new generations into the working world has been analysed.
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The purpose of this research is to further the understanding of how to implement gender-responsive budgeting (GRB) systems. The author explores whether GRB reforms might benefit…
Abstract
Purpose
The purpose of this research is to further the understanding of how to implement gender-responsive budgeting (GRB) systems. The author explores whether GRB reforms might benefit from integration into a performance-oriented budgetary structure and whether GRB's equity orientation is linked to additional implementation challenges.
Design/methodology/approach
This research follows a qualitative case study of South Korea guided by a predetermined research framework and built from extensive documentation, archival records and expert interviews.
Findings
GRB’s integration into a performance framework can be burdensome, and the equity orientation of GRB results in additional implementation challenges, such as higher vulnerability to the political context and active resistance from public officials.
Originality/value
This research shows that integrating GRB with performance systems may require overcoming significant administrative obstacles. Also, GRB’s equity orientation is linked to a higher vulnerability to the political cycle and active resistance from civil servants.
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Fátima Poza-Vilches, Esther García-González, Carmen Solís-Espallargas, Leticia C. Velasco-Martínez, Abigail López-Alcarria, Ligia Isabel Estrada-Vidal, Rocío Jiménez-Fontana, Fátima Rodríguez-Marín, María Puig-Gutiérrez, Juan Carlos Tójar Hurtado and José Gutiérrez-Pérez
The purpose of this paper is to analyse the presence of the sustainable development goals (SDGs) proposed by the UN (2015) in university degrees within the fields of education…
Abstract
Purpose
The purpose of this paper is to analyse the presence of the sustainable development goals (SDGs) proposed by the UN (2015) in university degrees within the fields of education, humanities and environmental sciences (ES) at Andalusian public institutions (Spain).
Design/methodology/approach
This paper shows an empirical analysis from a mixed methodological model on a total of 99 syllabi and training programs from nine different universities. The collection of information has been carried out through a rubric specifically designed within the framework of this body of research.
Findings
The results show that the syllabus of the subjects in the faculties of education includes the SDGs related to the social aspect of sustainability, with special focus on SDG4, SDG5, SDG10, SDG16 and SDG17, whereas others like SDG6 and SDG7 are less represented. SDGs are present in the majority of syllabus of the subjects analysed. It is certainly a positive finding which shows predisposition and a high interest on by the teachers involved. However, this is not enough as there is still a long way to go until achieving a thorough and complete incorporation of the principles of sustainability.
Originality/value
This research sheds light on the changes and transformations that the discourse linked to sustainability is generating in the university syllabi. Taking the SDG as a framework this paper highlights the most original aspects: a replicable methodology that allows diagnosing the level of curricular greening of the university syllabi is provided to other contexts the innovative value of connecting teaching with local and global environmental problems in their physical-chemical social and economic dimensions is shown and it has been possible to compare the difficulties of some universities in addressing compliance with the SDGs and curricular sustainability from a systemic and integrative perspective that will lead to methodological transformation and pedagogical renewal.
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Liliana María Gutiérrez Vargas, Joaquin Alegre and Susana Pasamar
This study analyses the relationship between the use of work–family benefits and job satisfaction (JS). Furthermore, it proposes that work-to-family conflict (WFC) and…
Abstract
Purpose
This study analyses the relationship between the use of work–family benefits and job satisfaction (JS). Furthermore, it proposes that work-to-family conflict (WFC) and work-to-family enrichment (WFE) play a mediating role in this relationship. The purpose of this paper is to address these issues.
Design/methodology/approach
Data are gathered from 1,051 employees of Colombian organisations. Partial least squares path modelling is used.
Findings
The results show that the perception of WFE to a greater extent and the WFC perception, to a lesser extent, are significant mediators in the relationship between the use of benefits and JS.
Practical implications
This study justifies investments and initiatives on the adoption and promotion of work–family benefits. Moreover, it provides practical clues on how to boost JS: WFC and WFE are variables to be considered.
Originality/value
This study proposes a multiple mediation model to analyse the relationship between the actual use of work–family benefits and JS from a family perspective. It contributes to the literature in examining antecedents of JS, highlighting the role of WFE.
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Laura Pascual-Nebreda, Pablo Cabanelas and Alicia Blanco-González
There are numerous studies on satisfaction, but not enough on dissatisfaction when its consequences can be harmful. This study aims to examine different unsatisfactory situations…
Abstract
Purpose
There are numerous studies on satisfaction, but not enough on dissatisfaction when its consequences can be harmful. This study aims to examine different unsatisfactory situations during customer–supplier relationships in industrial markets combining the appraisal theory with the critical incident technique to identify potential problems and strategies to minimize their effect.
Design/methodology/approach
This research follows an exploratory qualitative approach based on 18 in-depth interviews with managers from business-to-business firms. The information obtained was object of a textual and conceptual analysis using the analytical software ATLAS TI 9.0.
Findings
The results show that negative cognitions have greater influence than negative emotions, and those dissatisfied customers may respond by expressing complaints, ending transactional relationships, reporting the other party legally, asking for explanations or continuing commercial relationships, even though they are dissatisfied. This will depend on the severity of the critical incident and the negative cognitions and emotions perceived. Proactivity and understanding of this situation will allow for understanding what specific actions to take to resolve conflicts and mitigate the negative effects among the parties.
Originality/value
This paper focuses on dissatisfaction, instead of satisfaction, in industrial markets through the appraisal theory. Furthermore, it applies the critical incident technique to understand the cognitions and emotions related with dissatisfaction in the commercial relationships. Finally, it provides ideas on what are the main source of dissatisfaction and how to manage them to anticipate and better manage those incidents.
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Mariluz Fernandez-Alles, Juan Pablo Diánez-González, Tamara Rodríguez-González and Mercedes Villanueva-Flores
The purpose of this paper is to analyze potentially significant differences in a series of relevant characteristics of universities’ technology transfer offices (TTOs). To this…
Abstract
Purpose
The purpose of this paper is to analyze potentially significant differences in a series of relevant characteristics of universities’ technology transfer offices (TTOs). To this end, TTOs have been classified by the function of their resources assigned to the enhancement of university entrepreneurship. The factors analyzed are the number of academic spin-offs created with the support of TTOs as well as the TTOs’ age, experience, professionalization and relational capital.
Design/methodology/approach
The authors have performed a hierarchical agglomerative cluster analysis to identify the groups of TTOs with homogeneous behavior and features. This multivariate technique allows determining whether it is possible to identify some differentiated conglomerates of TTOs.
Findings
The results of the cluster analysis allow concluding that the number of academic spin-offs created with the support of TTOs, the age and degree of professionalization of these TTOs, the experiences of their employees in matters related to entrepreneurship and their relationships with market actors explain the different levels of commitment of TTOs toward the enhancement of university entrepreneurship. In contrast with the expected results, the relationship between TTOs and academic actors does not seem to explain such differences.
Originality/value
This research contributes to the identification of the particular design characteristics that TTOs should exhibit to promote the entrepreneurial performance of universities, offering important recommendations to academic institutions regarding the efficient design of TTOs to manage university ambidexterity and to build TTOs’ entrepreneurial identity.
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Anne Marie Zwerg-Villegas, Ana María Gutiérrez and David S. Baker
Determine when to resolve conflict through arbitration and when to resolve conflict through the court system. Reflect upon the types of organizational misconduct and determine…
Abstract
Learning outcomes
Determine when to resolve conflict through arbitration and when to resolve conflict through the court system. Reflect upon the types of organizational misconduct and determine what behaviors constitute organizational misconduct. Argue whether the behaviors that constitute organizational misconduct are universal or may vary according to the context. Analyze whether actions that might be considered misconduct might be acceptable in certain situations and contexts. Build additional definitions of organizational misconduct that might pertain to non-Western, developed country contexts. Analyze how media and popular opinion might influence perceptions of organizational misconduct.
Case overview/Synopsis
Carlos Mattos (he/him/his) was the founder/president/CEO of Hyundai Colombia Automotriz S.A. from 1992 to 2015. He and his company introduced the Hyundai brand to the Colombian market and made it one of the best-selling automobile brands in the nation. When the company began experiencing losses, Hyundai headquarters terminated the contract and awarded the distribution to an Ecuadorian firm.The contract between Hyundai Colombia Automotriz S.A. and Hyundai Motor Company stipulates that arbitration is the appropriate dispute mechanism. However, Mattos contemplates whether arbitration is his best option or if he should take Hyundai Motor Company to court. He also contemplates suing the Ecuadorian firm for unfair competition.As students analyze Mattos’ decision, they will determine whether the actions of the any of the parties might be considered organizational misconduct. This case is not about assigning blame. It is not about deciphering whether anyone is guilty. Instead, the case is designed to promote critical thinking about the concept of organizational misconduct. Most literature and understanding of organizational misconduct are from a Western, developed country point of view. In this case, there are three key actors, all from emerging markets. Each may have participated in some sort of misconduct, depending on how the term is defined.
Complexity academic level
This case is appropriate for advanced, undergraduate or master's level international business students in classes such as international management, intercultural management, international negotiation or business ethics.
Supplementary materials
Teaching notes are available for educators only.
Subject code
CSS 5: International Business.