Mauricio A. Valle, Gonzalo A. Ruz and Samuel Varas
The purpose of this paper is to propose a model of voluntary employee turnover based on the theory of met expectations and self-perceived efficacy of the employee, using data from…
Abstract
Purpose
The purpose of this paper is to propose a model of voluntary employee turnover based on the theory of met expectations and self-perceived efficacy of the employee, using data from a field survey conducted in a call center.
Design/methodology/approach
The paper formulates a model of employee turnover. First explaining the fulfillment of expectations from initial expectations of the employee (before starting work) and their experience after a period of time. Second, explaining the turnover of employees from the fulfillment of their expectations.
Findings
Some of the variability in the fulfillment of expectations can be explained by the difference between expectations and experiences in different job dimensions (e.g. income levels and job recognition). Results show that the level of fulfillment of expectations helps explain the process of employee turnover.
Research limitations/implications
This work provides evidence for the met expectation theory, where the gap between the individual’s expectations and subsequent experiences lead to abandonment behaviors in the organization.
Practical implications
The results suggest two paths of action to reduce the high turnover rates in the call center: the first, through realistic expectations setting of the employee, and the second, with a constant monitoring of the fulfillment of those expectations.
Originality/value
A statistical model of survival is used, which is appropriate for the study of the employee turnover processes, and its inherent temporal nature.
Propósito
El propószito de este trabajo es proponer un modelo de rotación voluntaria de empleados basado en la teoría de cumplimiento de expectativas y autoeficacia del empleado, utilizando datos de un estudio de campo llevado a cabo en un centro de llamados (call center).
Diseño/metodología
Este trabajo fomula un modelo de rotación de empleados. Primero, explica el cumplimiento de expectativas laborales a partir de las expectativas iniciales (antes de comenzar a trabajar), y las experiencias laborales después de un período de tiempo. Segundo, explica la rotación de empleados a partir del cumplimiento de las expectativas laborales.
Resultados
Parte de la variabilidad del cumplimiento de expectativas laborales puede ser explicado a partir de la diferencia entre expectativas y experiencias en distintas dimensiones del trabajo (por ejemplo, niveles de salario y reconocimientos laborales). Los resultados muestran que el nivel de cumplimiento de expectativas ayuda a explicar el proceso de rotación de empleados.
Limitaciones/implicaciones
Este trabajo porvee evidencia empírica de la teoría del cumplimiento de expectativas, en donde la brecha entre las expectativas individuales y las subsecuentes experiencias, conducen a comportamientos de abandono en la organización.
Implicaciones prácticas
Los resultados sugieren dos distintas vías de acción para reducir la alta rotación de empleados en los centros de llamados. La primera es a través de fijación de expectativas iniciales realistas al empleado, y la segunda, un monitoreo constante del cumplimiento de tales expectativas.
Originalidad/valor
Se utiliza un modelo estadísitico de sobrevivencia, el cual es apropiado para estudios de procesos de rotación, cuya naturaleza es inherentemente temporal.
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Mauricio A. Valle, Gonzalo A. Ruz and Samuel Varas
The purpose of this paper is to investigate the effect of risk aversion (RA) on expected income and job satisfaction (JS) with pay in the case of sales agents under a compensation…
Abstract
Purpose
The purpose of this paper is to investigate the effect of risk aversion (RA) on expected income and job satisfaction (JS) with pay in the case of sales agents under a compensation system based on pay-for-performance.
Design/methodology/approach
Data were collected from 125 sales agents of an outbound call center via questionnaires and controlled experiments. Seemingly unrelated equations using maximum likelihood estimation was employed to estimate the proposed model and test relationships.
Findings
Findings show that income expectations (IE) respond to a model of trade-off between value and risk. The sales agents trade off their expected value of performance (i.e. expected income) with RA. Additionally, IE and actual performance of the salesperson have influence on JS with pay with opposite signs.
Research limitations/implications
The results of this research may need to be modified to consider jobs with compensation systems with a higher proportion of fixed component of the wage than the variable component. Also, a broader concept of JS and not just related to the pay, should be considered.
Practical implications
Given the importance of RA in the attitudes of employees in relation to their expectations, the authors believe that it should be necessary and useful to incorporate measures of RA in the process of selection and recruitment for these jobs.
Originality/value
This paper assessed an important element as the RA at the micro level inside of an organization. This element could be very important for job environments with high uncertainty in income that could influence JS via employee expectations.
Propósito
El propósito de esta investigación fue investigar el efecto de la aversión al riesgo sobre la remuneración esperada para agentes de ventas, bajo un sistema de compensación basado en resultados, a través de un modelo de ecuaciones estructurales.
Diseño/metodología/enfoque
Los datos fueron recolectados de 125 agentes de ventas de un Call Center de telemarketing y ventas a través de encuestas estructuradas y experimentos controlados. Se utilizó “Seemingly unrelated equations” utilizando estimación por máxima verosimilitud para estimar el modelo propuesto.
Resultados
Los resultados mostraron que las expectativas de remuneración responden a un modelo de compensación entre “valor y riesgo”. Los agentes de ventas compensan el valor de su desempeño (en términos de remuneraciones esperadas) con su aversión al riesgo. Adicionalmente, las expectativas de remuneración y el desempeño actual del agente, poseen una influencia significativa en la satisfacción con el sueldo, pero con signos opuestos.
Limitaciones de la Investigación/implicaciones
Los resultados de esta investigación debieran ser tomados con cautela, particularmente en trabajos con sistemas de compensación cuya proporción entre el componente fijo y variable del salario es alto. Además, debiera considerarse un concepto más amplio de satisfacción en el trabajo, y no sólo el de la satisfacción con el sueldo obtenido por el agente de ventas.
Implicaciones prácticas
Dada la importancia de la aversión al riesgo en las actitudes de los empleados en relación a sus expectativas, nosotros sugerimos que es posible y útil, incorporar medidas de aversión al riesgo en los procesos de selección y reclutamiento en este tipo de sistemas de compensación.
Originalidad/Valor
Este trabajo evalúa un elemento importante, tal como lo es la aversión al riesgo, a nivel individual al interior de una organización. Este elemento podría ser muy importante en ambientes de trabajo que se caracterizan por tener alta incertidumbre en las remuneraciones, lo cual puede influir en las satisfacción de los empleados, vía expectativas salariales.
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The purpose of this study is to investigate whether equity market timing has a persistent impact on the firm’s capital structure or not. In achieving this purpose, there are two…
Abstract
The purpose of this study is to investigate whether equity market timing has a persistent impact on the firm’s capital structure or not. In achieving this purpose, there are two hypotheses developed in this study. The first hypothesis is that historical price-book-value (PBV) negatively affect leverage; while the second hypothesis is that historical PBV ratio negatively affects the change of cumulative on leverage. The sample of this study is cross sectional data obtained from the Indonesia Stock Exchange for 2001–2011 research period. The author disentangles the sample into subsamples based on IPO+k, in which k is the number of years after the initial public offering (IPO). The results show that most of the regression coefficients in the historical PBV do not have negative impact on the capital structure and only a small part of the regression coefficient of the historical PBV has a statistically negative impact on the capital structure. Therefore, the findings of this research conclude that equity market timing doesn’t have persistent impact on capital structure of the firms in Indonesia.
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Rodrigo Natal Duarte, Elisa Reis Guimarães, Maurício Ribeiro do Valle and Simone Vasconcelos Ribeiro Galina
This study aimed to understand coopetition in the context of Brazilian specialty coffee grower Small and medium enterprises (SMEs), based on the need to differentiate the beans in…
Abstract
Purpose
This study aimed to understand coopetition in the context of Brazilian specialty coffee grower Small and medium enterprises (SMEs), based on the need to differentiate the beans in and outside the farm level, taking into account the stakeholders’ influence.
Design/methodology/approach
In this study twenty semistructured interviews were carried out with coffee growers and managers of cooperatives, associations and supporting institutions involving two Brazilian coffee geographical indications. Data were analyzed using a mixed grid composed of qualitative, semantic and categorical factors.
Findings
Strategic moves undertaken by coffee growers and stakeholders have shaped the pathway of coopetition among coffee growers, as determinants to frame it as a deliberate or emergent pattern (intentional or unplanned, respectively). Our findings provide evidence that coopetition development among firms is deliberate when influenced by firms’ or stakeholders’ cooperative moves and emergent when influenced by firms’ or stakeholders’ competitive moves.
Originality/value
Although the firm/stakeholder relationship is often approached as a joint wealth creation effort, stakes are not always fairly distributed, so one of the parties may be negatively affected, with consequences for the development of coopetition. Underpinned by a stakeholder-oriented resource-based theoretical lens, this investigation of the development patterns of coopetition linked to the strategic actions undertaken by firms and stakeholders has resonance on competitive advantages.
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João Paulo Augusto Eça, Wilson Tarantin Júnior and Maurício Ribeiro do Valle
This paper aims to analyze whether a relationship exists between the debt structure concentration and investment–cash flow sensitivity of Brazilian companies.
Abstract
Purpose
This paper aims to analyze whether a relationship exists between the debt structure concentration and investment–cash flow sensitivity of Brazilian companies.
Design/methodology/approach
The study is based on a sample of 500 Brazilian firms (337 unlisted and 163 listed) in the 10-year period from 2010 to 2019 analyzed according to the investment–cash flow sensitivity model.
Findings
The results show evidence that companies with more concentrated debt structures tend to have lower investment sensitivity to internal cash flow. In other words, firms with a greater concentration of debts tend to have less investment–cash flow sensitivity. In general, the results are robust to (1) variation of the debt concentration proxy and the independent variable; (2) the control of fixed effects in different dimensions and (3) use of estimator for endogeneity treatment, i.e. two-stage least squares (2SLS) and generalized method of moments (GMM).
Originality/value
Various studies have investigated whether specific financing sources reduce financial constraints, but few have addressed the relationship between debt concentration and these constraints. Besides this, to the best of the authors’ knowledge, no previous study has investigated the mentioned relationship in a sample of unlisted firms. This analysis is relevant since the effects of financial constraints tend to be stronger on companies that have restricted access to the capital market.
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Greici Sarturi, Carlos Augusto França Vargas, João Maurício Gama Boaventura and Silvio Aparecido dos Santos
The purpose of this paper is to deepen the discussion regarding the competitiveness of clusters based on a theoretical and empirical study that compares the level of…
Abstract
Purpose
The purpose of this paper is to deepen the discussion regarding the competitiveness of clusters based on a theoretical and empirical study that compares the level of competitiveness of the Brazilian wine cluster located in Serra Gaúcha with the competitiveness of the Chilean cluster located in Valle del Maule.
Design/methodology/approach
A qualitative-descriptive approach was applied to the study, and data collection was conducted through secondary sources.
Findings
The analysis employed a competitiveness analysis model consisting of 11 competitiveness factors. The Chilean cluster presented a higher level of competitiveness in four competitiveness factors (“scope of viable and relevant business,” “introduction of new technologies,” “balance with no privileged positions” and “oriented strategy”), while the Brazilian cluster presented a higher level of competitiveness in three competitiveness factors (“concentration,” “cooperation” and “replacement”). For four of the competitiveness factors of the model, both clusters presented similar levels of competitiveness.
Practical implications
By comparing the two wine clusters, it was possible to identify aspects that can be improved to increase competitiveness, especially in the Brazilian cluster. These aspects include, first, the need for bottle manufacturers in Serra Gaúcha, which would have a positive impact on production costs; second, the expansion of the geographical indication registration for the entire Serra Gaúcha region, resulting in an enhanced image of Brazilian wine abroad; and third, greater incentives for exports, which would result in an increase in market share.
Originality/value
The paper proposes an explanation for the superior level of competitiveness of the Chilean cluster regarding the “scope of viable and relevant business,” “balance with no privileged positions,” “introduction of new technologies” and “strategy focussed on cluster development.” In terms of its contribution, the study developed additional metrics for the model adopted, which can be used for the competitive analysis of other agribusiness clusters.
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Diana Escandon, Jairo Salas and Mauricio Losada-Otalora
This paper analyses the moderation effect of country culture in the reciprocal relationship between the strategic orientations (Organizational entrepreneurship, organizational…
Abstract
Purpose
This paper analyses the moderation effect of country culture in the reciprocal relationship between the strategic orientations (Organizational entrepreneurship, organizational innovation and Organizational learning) and the export performance of the firms in two countries with different cultural characteristics (Sociability and Performance). In the same way, it is intended to evaluate if there is a reciprocal relationship between strategic orientations and export performance.
Design/methodology/approach
In order to achieve the objectives of the research, a structural equations model is made. One of the benefits of this model is that it allows not only to analyze of the causal relationships of the study variables but also to identify of the behavior presented by the firms in their export performance activities. The database contains 400 SMEs from Colombia and Vietnam, with an export performance developed during 2022.
Findings
It was possible to verify a reciprocal relationship between the strategic orientations of organizational entrepreneurship and organizational innovation. However, the relationship between organizational learning and export performance must be validated. Similarly, it was found that countries with a cultural focus on performance will have better export performance than those with a focus on sociability.
Research limitations/implications
The main limitation of this study is the focus on only two countries with diverse cultural characteristics. Future research will aim to verify these relationships with a more significant number of countries and over a more extended time range.
Practical implications
According to the results, assessing the firms' strategies to prioritize product innovation is necessary. This axis is fundamental because it is the means to create value for products and develop the capacities and resources necessary to compete in the international arena.
Social implications
Among the most critical implications of a country are the social ones. Thus, to the extent that the results in innovation are more evident in the management area, this will help improve the production platform and general conditions at the country level.
Originality/value
The most significant value of this research is in studying the moderation effects of cultural approaches at the country level in the bidirectional relationships studied in this work.
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Isabel Cristina Rivera-Lozada, Andrés Mauricio Gómez Sánchez and Jennifer Uni-Chilito
The aim is to analyze the armed conflict persistence in Colombia from 2008 to 2018 based on the financial viability hypothesis (rebellion occurs when war net revenue is…
Abstract
Purpose
The aim is to analyze the armed conflict persistence in Colombia from 2008 to 2018 based on the financial viability hypothesis (rebellion occurs when war net revenue is nonnegative).
Design/methodology/approach
The methodology is quantitative. Firstly, a nonparametric Kaplan–Meier functions and survival risk functions are developed as initial approximation. Subsequently, a Probit model with panel data is implemented and the covariates are grouped into three dimensions: opportunity, grievance and institutional-political.
Findings
The viability hypothesis boosts the continuity of the armed conflict, which is enhanced and perpetuated by the viability and financial incentives from public revenues and natural resources, while the grievance, political fragmentation and institutional dimensions contribute to the opportunity structure in Collier that makes the conflict militarily and economically viable.
Research limitations/implications
Lack of information for some states in Colombia prevents a much more holistic analysis.
Practical implications
Postulate what is required by the Colombian State to cut off the sources of financing of armed groups and thus, one of the determinants of the continuity of the conflict.
Social implications
The political fragmentation contributes to rebellion, and that variables representing the dimensions of grievance and institutional presence contribute to the opportunity structure that makes the conflict in Colombia militarily and economically viable.
Originality/value
This research proposes as a novelty to incorporate the viability hypothesis with some factors related to the grievance that explain the persistence of the armed conflict as a consequence of decreasing recruitment costs for the insurgent groups, a situation that contributes to the opportunity structure and financial viability of the conflict.
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Gustavo Adolfo Yepes-López, José Luis Camarena, Julián Mauricio Cruz-Pulido, Luz Jeannette Quintero-Campos, Virginia Lasio, Jorge Rodriguez, Jack Zambrano-Vera, Consuelo Adelaida García de la Torre, María Matilde Schwalb-Helguero, María Ángela Prialé, José Solís-Sierra, Maruzella Rossi-Undurraga, Roberto Carvajal-Ramos, Pedro Javier Martinez, Victoria González-Gutiérrez, Rogelio Sánchez-Reyna, Griselda Lassaga and Nicolás Beltramino
This article aims to report on the development and validation of a bribery measurement index for the business sector, which, based on institutional theory, seeks to overcome the…
Abstract
Purpose
This article aims to report on the development and validation of a bribery measurement index for the business sector, which, based on institutional theory, seeks to overcome the limitations of traditional measurements, recognizing the dynamics that originate the phenomenon and identifying process components.
Design/methodology/approach
To construct the index, correlational and principal component analysis techniques were used, as well as rigorous statistical tests, validating the instrument in a sample of 2,963 companies in Latin America, including Argentina, Colombia, Chile, Ecuador, Guatemala, Mexico and Peru.
Findings
The result was an instrument composed of two dimensions: (1) anti-bribery game rules, composed of regulations knowledge and anti-bribery efforts, and (2) bribery as a perceived habit, allowing an objective representation of reality due to its internal consistency, concurrent and discriminant validity.
Practical implications
This instrument is one of the few that focuses on measuring bribery in the business sector in terms of corrupt practices, applicable for both public and private institutions to promote game rules against bribery. Additionally, the proposed theoretical model can be used to measure other phenomena with similar characteristics.
Originality/value
This article empirically highlights different variables that make bribery possible. The results can be helpful in the design of strategies to prevent this type of behavior. It also highlights the importance of designing mechanisms to record information related to bribery and the different expressions of corruption in order to explain its different nuances.
Propósito
Este artículo informa sobre el desarrollo y validación de un índice de medición de soborno para el sector empresarial, que, basado en la teoría institucional, busca superar las limitaciones de las mediciones tradicionales, reconociendo las dinámicas que originan el fenómeno e identificando los componentes del proceso.
Diseño/metodología/enfoque
Para la construcción del índice se utilizaron técnicas de análisis correlacional y de componentes principales, así como rigurosas pruebas estadísticas, validando el instrumento en una muestra de 2.963 empresas de América Latina, entre ellas Argentina, Colombia, Chile, Ecuador, Guatemala, México y Perú.
Hallazgos
El resultado fue un instrumento compuesto por dos dimensiones: (1) reglas de juego antisoborno, compuestas por conocimiento normativo y esfuerzo antisoborno (2) soborno como hábito percibido, permitiendo una representación objetiva de la realidad debido a su consistencia interna, validez concurrente y discriminante.
Originalidad/Valor
Este artículo pone en evidencia empírica diferentes variables que hacen posible el soborno. Los resultados pueden ser útiles en el diseño de estrategias para prevenir este tipo comportamiento, también destaca la importancia de diseñar mecanismos para registrar la información relacionada con la lucha contra el soborno.
Implicaciones prácticas
Este instrumento es uno de los pocos que se enfoca en medir el soborno en el sector empresarial en términos de prácticas de corrupción, útil para instituciones tanto públicas como privadas para promover mejores reglas de juego en contra del soborno. Adicionalmente el modelo teórico propuesto puede ser utilizado para medir otros fenómenos con características similares.