Robert Hogan and Daniel Huerta
The purpose of this paper is to examine the relationship between gender and ethnic diversity in managerial positions and Real Estate Investment Trust (REIT) operating performance.
Abstract
Purpose
The purpose of this paper is to examine the relationship between gender and ethnic diversity in managerial positions and Real Estate Investment Trust (REIT) operating performance.
Design/methodology/approach
The authors employ two-stage Heckman correction models on an unbalanced panel of US Equity REITs for the time period from 2000 to 2015. The second-stage model uses multiple operating performance measures regressed on a dichotomous variable that indicates if the REIT promotes diversity in middle management in addition to a vector of control variables.
Findings
The results indicate that REITs that promote diversity in middle management with profit-and-loss responsibilities have lower operating performance than comparable counterparts. That is, gender and demographic diversity is negatively related to REIT performance as measured by return on assets, return on equity and funds from operations.
Practical implications
The analysis indicates that while gender and ethnic diversity is socially responsible and may provide many benefits, diversity among managers and decision makers has to be carefully implemented in order to achieve positive financial results.
Originality/value
This paper contributes to the literature by investigating whether diversity in leading managerial positions, other than in top officer ranks and on the board of directors, have an impact on REIT operating performance.
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Josette Edwards Pelzer and Robert Stephen Hogan
This study aims to examine the timing of the disclosure of a firm’s environmental certification. In general, certifications comply with signaling and legitimacy theories and serve…
Abstract
Purpose
This study aims to examine the timing of the disclosure of a firm’s environmental certification. In general, certifications comply with signaling and legitimacy theories and serve to bolster a firm’s reputation, financial performance and valuation, among other benefits. However, when a firm finds itself facing a reputational threat, it is unclear whether disclosing a recent certification would provide those same benefits or be perceived by investors as “greenwashing” or a disingenuous distraction from the threat.
Design/methodology/approach
This study is based on a case and survey the authors developed that is supported in methodology and approach by past academic work.
Findings
The findings suggest that in the short term, the disclosure of the certification benefits the firm regardless of the current reputational environment, good or bad. More specifically, investors view the certification as a benefit (rather than an attempt to distract) even when its disclosure was immediately proceeded by a reputational threat.
Research limitations/implications
This study is limited by the population of survey respondents from which the authors collected data and their internal predispositions and biases.
Practical implications
This work is applicable to firms that have engaged in certifications or are considering such certifications as well as firms that provide certification services. The study is also relevant to stakeholders and consumers of information related to certifications.
Originality/value
This study is operationalized through the use of a case and survey the authors developed. The research question the authors attempt to answer is derived from a question raised in the literature. The authors are unaware of any other study that addresses this question.
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John Antonakis (PhD, Walden University) is professor of Organizational Behavior at the Faculty of Management and Economics of the University of Lausanne, Switzerland. His research…
Abstract
John Antonakis (PhD, Walden University) is professor of Organizational Behavior at the Faculty of Management and Economics of the University of Lausanne, Switzerland. His research is centered on individual-difference antecedents of effective leadership, the measurement of leadership, and the links between context and leadership as applied to neocharismatic and transformational leadership models, and the development of leadership.
The current Industry 4.0 era is considered not only as a process that dominates technological developments but also as a process that influences the leadership styles. Management…
Abstract
The current Industry 4.0 era is considered not only as a process that dominates technological developments but also as a process that influences the leadership styles. Management 4.0 is essential for businesses to find and apply the appropriate technologies in the age of Industry 4.0. The leadership styles that business managers will adopt in order to be successful in this process and to survive in an intensely competitive environment can play an important role. At this point, a significant problem arises: identifying leadership styles that will bring success. In this context, the primary purpose of this chapter is to explain the modern leadership styles that business managers can adopt or follow in the age of Industry 4.0. In line with this purpose, the chapter first describes the historical development of leadership, leadership theories and modern leadership styles, such as transactional, transformational, technological, strategic, visionary and agile leadership, and all these concepts are discussed based on the Industry 4.0 perspective.
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Dave Winsborough and Robert Hogan
This chapter concerns the degree to which leader personality is specific to the geographical region in which leaders work or more generically global. In samples from several…
Abstract
This chapter concerns the degree to which leader personality is specific to the geographical region in which leaders work or more generically global. In samples from several different countries (N = 11,969), we show that top leaders are significantly different from the general population on dimensions of occupationally relevant personality, but rather similar among themselves. In general, top leaders are more emotionally stable, and much more competitive, ambitious, outgoing, and well-informed than the average person. We then examine our top leader cohorts on a culture by culture basis, and find distinct cultural differences. We close by discussing implications for the selection, development, and coaching of top leaders.
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Robert B. Kaiser and Robert Hogan
We review the literature to determine how discretion, defined as the freedom to make decisions, moderates the relationship between leader personality and organizational…
Abstract
We review the literature to determine how discretion, defined as the freedom to make decisions, moderates the relationship between leader personality and organizational performance. Discretion increases with level in organizations so that top executives have the most discretion and the greatest opportunity to impact organizational performance. We describe how personality drives executive actions and decision making, which then impacts organizational performance; the more discretion a leader has, the more leeway there is for his or her personality to operate. Finally, using research and contemporary business examples, we illustrate the dynamics linking personality, discretionary freedom, and destructive leadership in and of organizations.
Organizational structures, systems and processes can and do limit the discretionary decision-making space of all involved in organizational life. However, high up in organizations…
Abstract
Organizational structures, systems and processes can and do limit the discretionary decision-making space of all involved in organizational life. However, high up in organizations leaders have significant discretion in making decisions. Robert Kaiser and Robert Hogan explore the dark side of what might happen if strategic leaders use their discretionary freedom for personal rather than organizational benefit. Timo Santalainen and Ram Baliga present a real example of discretionary leadership gone bad in an NGO that looks quite healthy on the outside. They refer to the phenomenon of a financially successful company with a sick leader as the “healthy-sick organization.” We juxtapose this chapter with the one by Corey Billington and Michèle Barnett Berg to show how Duncan Covington at computer products, services, and solutions company IQ used his discretionary freedom for the good of the company. Covington inherited a sick organization and introduced key systems, structures, and processes to bring it back to health.
Robert Hogan and Michael J. Benson
As we move deeper into the 21st century and organizations continue to expand globally, the need for talented leaders and enhanced leadership development programs will grow. In…
Abstract
As we move deeper into the 21st century and organizations continue to expand globally, the need for talented leaders and enhanced leadership development programs will grow. In fact, rapid economic growth in parts of the world coupled with the number of experienced leaders retiring in other parts of the world point to a global leadership imperative – we need to understand better how to select and develop leaders who can deliver organizational results. This chapter makes four principal assertions: (1) leadership is a function of personality; (2) leadership is a determinant of organizational effectiveness; (3) principles of leadership are formal; and (4) using the leadership value chain, one can trace the links from personality to leadership to organizational effectiveness. We conclude by offering some suggestions to help understand and guide future, global leadership development.