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This paper aims to test the relationship of the personality variable of cognitive hardiness to job satisfaction, performance and intention to turnover. These relationships are to be tested via two alternative models, with a sequential and simultaneous structure for appraisal and coping processes.

Employees (n=297) from a range of large New Zealand organisations completed a questionnaire on hardiness, appraisal, coping and affect.

Bivariate correlations revealed significant positive relationships between hardiness and job satisfaction, hardiness and performance, and a significant negative relationship with intention to turnover. Structural equation modelling revealed that the direct positive relationship between hardiness and job satisfaction was the strongest path. The simultaneous model provided best fit to the data, revealing a positive path from hardiness through challenge appraisals to positive affect, and a negative path through threat appraisal and emotion‐focused coping.

Higher levels of hardiness were associated with more positive appraisals and more effective coping responses. However, the cross sectional nature of this research and the use of a single measurement source pose potential limitations in terms of common method variance and study generalisability.

The paper investigates the relationship of hardiness to outcomes such as job satisfaction, self‐rated work performance and intentions to leave and explores the processes that underlie the relationships between hardiness and outcomes.

Many companies have either rejected or reduced the size of risk management (hedging) programs because they do not believe that the market will reward them sufficiently for the reduction in earnings volatility. In fact, many commodity companies would take the argument a step farther and argue that the market will punish them for reducing their commodity exposure.

This paper reviews a number of alternative bases of valuation which can be applied for lending purposes. In early 1999, the European Mortgage Federation suggested that the philosophy of a European Mortgage Lending Value (EMLV) should be based on “sustainable” values and this recommendation is compared to the current basis used for bank lending valuations, mainly market value. This comparison is of both concepts and applications. In addition, concepts and applications of worth valuations are considered. The paper concentrates on commercial property but many of the principles also apply to residential property valuations. The paper concludes that the EMLV concept of sustainable values is itself unsustainable. There are a number of reasons for this view, not least that the concept itself cannot be closely defined and will be interpreted differently by those who apply it. It lacks the objectivity of market value and the rationality of concepts of worth. The paper also questions whether any concept of value can apply over a period of time and suggests that all other “values” do not have a shelf life and relate to one specific point in time only. In application, in the absence of any meaningful conceptual basis, sustainable value appears to have been applied as a conservative market value. It may give the illusion of having some extended time horizon attached to it but this is the major danger. The reality is that it is just another product of the endless search for a single valuation figure which can give lenders the holy grail of longer‐term protection from lender default. This it will fail to do as all other bases applied so far to lending valuations have done. The recommendations of this paper are that all European institutions and valuer/appraisers resist this latest incursion into the fruitless search for the perfect loan valuation basis and concentrate on the other aspects of the valuation which can truly help lenders make their decisions. These are the economic, property market and occupier issues which should be considered by the appraiser and included as major items in valuation reports, many of which would be explicitly included in a full discounted cash flow approach to commercial property loan valuations.

Starting from 2003, Microsoft and many other companies have either gradually reduced or completely replaced stock options with restricted stocks in their compensation plans. This raises an interesting question: which form of compensation is better, stock or options? This chapter makes an economic comparison between the two compensation vehicles and concludes that stock is preferred to options. The backdrop of the study is dynamic asset allocation within a utility maximization framework whereby the company may go bankrupt. The incorporation of bankruptcy risk into the analysis is motivated by the recent downfalls of companies such as Enron and WorldCom.

We demonstrate that vesting requirements and bankruptcy risk can lead to significant value discounts. When the restricted stock and options have a vesting period of 5 years, and account for 50% of the total wealth, the total discount is more than 60%, out of which 20% is due to bankruptcy risk. More importantly, we find that stock is a better compensation tool than options. For a given dollar amount of grant, the higher the stock proportion, the higher the expected utility. In fact, replacing options by stock can lead to a substantial amount of cost savings for the firm, while maintaining the same level of utility for the employee. For example, when options account for 50% of the total wealth and are subsequently replaced by stock, the granting cost is reduced by about 60%. Our findings therefore provide a theoretical support for the move to stock-only style of performance compensations.

The purpose of the paper is to present a case example of the power struggles and gender issues one daughter faced when she became a partner, and future successor, in the family business. This paper uses an ethnographic approach in order to study a small family farm in England. The case focuses on a small family farm, these businesses are unique in terms of their values and expectations for succession (Haberman and Danes, 2007), and identified by Wang (2010) as a fruitful avenue for research on daughter succession.

The empirical work was gathered through the use of a single site ethnographic case study involving participant observation as the researcher worked on the family farm and semi-structured interviews with family members over two years.

The results shed light on some of the social complexities of small family farms and power struggles within the family exacerbated by perceived gender issues. The work also highlights the potential threat to the daughter’s position as a partner, from her father’s favouritism of male employees.

Institutions that provide help to family farm businesses need to be aware of the potential power issues within the family specifically related to gender, particularly in terms of succession planning.

Using ethnography in family firms allows the researcher to be a part of the real-life world of family farmers, providing rich data to explore daughter succession.

Stock ownership and incentive options are used by companies to retain and motivate employees and managers. These grants usually come with vesting features which require grantees to hold the assets for certain periods. This vesting requirement makes the grantee's total wealth highly undiversified. As a result, as shown by previous researchers, grantees tend to value these incentive securities below market. In this case, grantees will have a strong desire to hedge away the firm-specific risk. Facing the restrictions of direct hedges such as shorting the firm's stock, employees may implement a partial hedge by taking positions in an asset highly correlated with the firm's stock, such as an industry index. In this chapter, we investigate the effects of such a partial hedge. Using the continuous-time, consumption-portfolio framework as a backdrop, we demonstrate that the hedging index can enhance the employee's optimal portfolio holding and increase his intertemporal utility. Consequently, his private valuations of these grants are higher than that without the partial hedging. However, because the partial hedge makes the employee's total wealth less sensitive to the firm's stock price, it will also undermine the incentive effects. Therefore, the presumed incentive effects of these restricted assets should not be taken for granted.

The purpose of this paper is to develop and test an integrated model of the modified technology readiness index (TRI) with the extended expectation-confirmation model, in the context of information technology (E-ECM-IT) to explain the adoption and the intention to continue to use mobile payment applications (apps).

Data were collected from 426 users of mobile payment apps across South Africa. A confirmatory factor analysis was performed to validate the factor structure of the measurement items while structural equation modelling was employed to validate the proposed model and testing the hypotheses.

The overall model explained 81 per cent of variance in adoption and 78.5 per cent in the intention to continue to use mobile payment services. “Drivers” were better predictors of adoption than “inhibitors” while satisfaction emerged as the strongest predictor of continuance intentions.

To the best knowledge of the authors, this study is the first to empirically test an integrated modified TRI and E-ECM-IT model to supplement the paucity of research on the topic. The results show that the integrated model provides an enhanced way to understand the factors that influence adoption and continuance intention towards mobile payment apps. The results also add to existing knowledge of mobile technology literature.

The majority of organizational newcomers have prior work experience. Organizational socialization tactics are less effective for such “experienced newcomers”, relative to graduate newcomers. Hence experienced newcomers tend to rely on their own actions to become socialized. The aim of this article is to assess and potentially extend the range of adjustment strategies identified as being used by experienced newcomers themselves to achieve positive adjustment.

Semi‐structured interviews were conducted with 86 experienced newcomers entering a professional services organization.

Nineteen strategies emerged, with seven newly identified in this research. These are compared with strategies found in past research.

HR, and the managers and colleagues of newcomers can use the strategies identified and categorized here to encourage newcomers to use organizationally‐appropriate behaviors. Newcomers can use these strategies to help themselves achieve their own adjustment goals.

There is an increasing focus on newcomer proactive behavior in organizational socialization research, yet there are few empirically grounded developments of newcomer adjustment strategies. To the authors’ knowledge, this is the first paper to focus on what experienced newcomers report doing to help themselves adjust.

Gambling is well-recognised as a significant public health threat. However, current responses to gambling still primarily focus on individualised responsible gambling paradigms, which neglects to consider the range of commercial and political determinants that contribute to gambling harm and how it might influence young people's gambling attitudes and consumption intentions. This includes the marketing tactics used by the gambling industry to normalise harmful gambling products as embedded in everyday life, including in sport. Young people have demonstrated an in-depth gambling brand awareness and can even recall specific strategies used in gambling advertising that might appeal to children. There have been continuous calls for action to protect children and young people from the commercial marketing of gambling products from a range of stakeholders, including young people and their parents. Young people and their parents are very supportive of increased regulations on gambling advertising, particularly during sport, and have called for sporting teams and codes to reject sponsorship deals with gambling companies. However, a heavy reliance on industry self-regulation has meant that governments across the world have decided that the costs associated with exposing children and young people to pervasive gambling marketing are outweighed by perceived benefits that gambling provides to businesses benefiting financially from gambling. Comprehensive curbs on marketing, as seen in tobacco, are required to significantly reduce young people's exposure to gambling advertising and ultimately prevent the next generation of harm.

The case was written using information and data from secondary sources. It describes real people and the situations experienced by them. It does not use any fictitious names, scenarios or organizations.

The case study “Melanie Perkins: Poised to Redesign Canva from Tech Unicorn to Tech Giant?” describes the entrepreneurship journey of Melanie Perkins (she) (Perkins), the CEO of Australia-based tech unicorn and graphic design company, Canva Pty Ltd. (Canva). The case starts with a brief look into Perkins’ background and documents her entrepreneurial spirit, which, at the age of 19, led her to identify a hitherto unserved market (yearbooks) in the graphic design industry and offer an online design system through her venture, Fusion Books (Fusion). Fusion was completely bootstrapped and became a runaway success within five years. That encouraged her to envision setting up a one-stop-shop design site that would make design accessible to everyone.

However, when she tried to raise funds, Perkins encountered multiple rejections from venture capitalists. She persevered and continually refined her strategy. Eventually, she managed to raise venture capital funding and establish her design startup, Canva, in 2013. Canva then went on to disrupt the graphic design industry. The case describes in detail the reasons for Canva’s success, which went on to be one of the few profitable unicorn start-ups. The case also throws light on how Perkins used Canva as a tool to change society with her two-step plan. Despite its market success, Canva faced heavy competition in the design and publishing space from well-established players. Can Perkins challenge the competition and ultimately make Canva a software giant in the future?

The case is intended for use in teaching the subjects “Entrepreneurship Development,” “Business Strategy,” “Leadership Skills and Change Management” and “Positive Psychology for Managers” in both graduate and post-graduate programs.