The purpose of this paper is to establish the optimal decision-making style in a fast-paced, complex, and dynamic environment.
Abstract
Purpose
The purpose of this paper is to establish the optimal decision-making style in a fast-paced, complex, and dynamic environment.
Design/methodology/approach
Three decision-making attributes are explored: the use of intuition vs analysis, the proclivity to heuristics, and susceptibility to bias. The intuition/analysis is tested with a questionnaire that has been validated in prior research, while information on the two other dimensions is from an exploratory survey designed for this purpose. Responses to the survey questions provide some insight into the differential decision-making style of elite NHL hockey coaches’ vis-à-vis amateur coaches and news reporters.
Findings
The data suggest elite decision makers have no preference for intuitive or analytical settings, but exhibit a significantly higher perception of their ability to perform in both. While current literature shows sports athletes to be more intuitive, it appears coaches excel on the analytical dimension instead. This study finds that while elite hockey coaches have fewer biases overall, they tend in particular to be overly optimistic in comparison to amateur coaches and news reporters.
Research limitations/implications
The main limitation in this paper is that the survey on heuristics and biases is exploratory, making these results less robust than the findings on intuition and analysis.
Originality/value
This paper is first to extend the decision-making literature to coaches, and among few papers that obtain insights from NHL coaches directly. The findings are likely to extend to corporate leadership as well, increasing the relevance of the results.
Dennis Y. Chung, Karel Hrazdil and Kim Trottier
Motivated by recent studies that demonstrate the superiority of the Global Industry Classification System (GICS) relative to the Standard Industry Classification (SIC) system in…
Abstract
Purpose
Motivated by recent studies that demonstrate the superiority of the Global Industry Classification System (GICS) relative to the Standard Industry Classification (SIC) system in capital market research, the authors revisit the stock market anomaly documented by Thomas and Zhang (TZ) (“Overreaction to intra-industry information transfers?” Journal of Accounting Research, Vol. 46, pp. 909-940) and analyze whether the anomaly based on SIC remains evident when intra-industry information transfers are based on the GICS. The paper aims to discuss these issues.
Design/methodology/approach
The authors first replicate TZ and test whether stock prices of late announcers in response to earnings reported by early announcers in the same SIC industry are significantly related to subsequent price responses of late announcers to their own earnings reports. In the multivariate setting, the authors then evaluate whether the magnitude and significance of the overreaction anomaly changes under the more comprehensive GICS and across different time periods.
Findings
The authors first confirm the over-reaction anomaly based on SIC as documented by TZ. Utilizing a larger sample of firms based on the GICS and extending TZ for a new time period, the authors then demonstrate that the overreaction anomaly disappears during recent years, a period that is characterized by markedly higher trading activity.
Research limitations/implications
The findings provide new insights and contributions to the debate on whether or not market significantly misprices information transfers.
Originality/value
The authors are first to utilize the GICS in evaluating intra-industry information transfers.
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Jesus N. Valero, Kyujin Jung and Simon A. Andrew
The purpose of this paper is to examine the effect of transformational leadership – broadly defined as an individual who is visionary, innovative, inspirational and sensitive to…
Abstract
Purpose
The purpose of this paper is to examine the effect of transformational leadership – broadly defined as an individual who is visionary, innovative, inspirational and sensitive to the needs of followers – on the level of organizational resiliency.
Design/methodology/approach
This study employs multiple hierarchical regression analysis to test the causal relationship between transformational leadership and organizational resiliency by utilizing 112 respondents working in emergency management departments of local governments, fire and police stations, and nonprofit organizations in the Southeastern Economic Region of South Korea.
Findings
The results of the analysis indicate that transformational leadership style has a positive and statistically significant effect on perceived organizational resiliency. The findings also indicate that elected officials such as mayors are more likely to focus on building organizational resiliency than appointed officials and nonprofit leaders.
Originality/value
This study fills the gap of the current literature in the field of emergency management by establishing empirical evidence of the need to identify leaders with transformational traits in order to build a resilient organization, which can better respond and adapt to a catastrophic event in the Asian context.
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Frank L.K. Ohemeng, Emelia Amoako-Asiedu and Theresa Obuobisa Darko
The purpose of this paper is to advance critical theoretical insights into the idea of “relational bureaucratic leadership” and its implications for public administration in…
Abstract
Purpose
The purpose of this paper is to advance critical theoretical insights into the idea of “relational bureaucratic leadership” and its implications for public administration in developing countries (DCs). In doing so, the paper sets out new agendas for public service governance in DCs that recognizes the changing nature and emerging complexities of both the public service and society.
Design/methodology/approach
This is an exploratory study which synthesises literature in management, human resources, leadership studies and public administration, to understand the limitations of mainstream approaches to bureaucratic leadership in DCs, particularly SSA, with a view of identifying alternative practices.
Findings
Findings from this paper suggest that public service governance in DCs are embedded in complex dynamics between power relations, complexity and social norms, and bureaucratic leaders should, therefore, focus on building relationships as a means of deepening trust and enhancing cooperation among critical actors. The case for a shift in focus to “relationality” reflects changes in the broader global political economy, including emerging wicked and multi-faceted policy problems that require heterodox and context-sensitive responses from governments and greater collaboration among key stakeholders.
Originality/value
The analysis of the limitations of traditional approaches to public service governance in this essay reveals the importance of a shift from a preoccupation with conventional organizational forms and functions, to place greater emphasis on social networks and relationships, as a way of improving leadership efficiency in the public services of DCs.
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Leticia Bollain-Parra, Oscar V. De la Torre-Torres, Dora Aguilasocho-Montoya and María de la Cruz del Río-Rama
In this work, we estimated the impact that the US VIX, economic policy and epidemic uncertainty indexes had on leisure and recreation stocks. We extended the current literature in…
Abstract
In this work, we estimated the impact that the US VIX, economic policy and epidemic uncertainty indexes had on leisure and recreation stocks. We extended the current literature in two ways: first, we estimated the smoothed probabilities of being in ‘normal’ (
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Karen Handley and Courtney Molloy
This paper takes a structured literature review (SLR) approach to identify gaps in the literature and suggest future research opportunities. It focuses on corporate governance…
Abstract
Purpose
This paper takes a structured literature review (SLR) approach to identify gaps in the literature and suggest future research opportunities. It focuses on corporate governance (CG) performed outside the formal board of directors’ structure and examines research of alternative CG of small and medium-sized entities (SMEs).
Design/methodology/approach
The authors use the SLR method to search the Scopus database, extracting and synthesising findings relating specifically to SMEs’ CG. These are tabulated and described using bibliometric software.
Findings
The authors highlight an absence of tailored theoretical approaches to understanding CG in SMEs, which differs from the governance of larger entities. They also find evidence of alternative governance structures in SME CG.
Research limitations/implications
Further research should embrace management and other theoretical perspectives and expanded methodologies, nuances in understanding offered in contextualised settings and awareness of practical implications to better understand the specific setting of CG in SMEs.
Practical implications
SMEs seek to access the scarce resources and skills external to their formal CG structures. Regulators and resource providers should mobilise facilitation and training for this expansion.
Originality/value
The authors synthesise a large body of literature to extract findings specific to SMEs. A unique contribution is our focus on alternative forms of CG in SMEs. Evidence of alternative boards points to resolutions for human capital shortages in SMEs.