Business Administration - Research Publications
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ItemTime series copulas for heteroskedastic data(WILEY, 2018-04-01)Summary We propose parametric copulas that capture serial dependence in stationary heteroskedastic time series. We suggest copulas for first‐order Markov series, and then extend them to higher orders and multivariate series. We derive the copula of a volatility proxy, based on which we propose new measures of volatility dependence, including co‐movement and spillover in multivariate series. In general, these depend upon the marginal distributions of the series. Using exchange rate returns, we show that the resulting copula models can capture their marginal distributions more accurately than univariate and multivariate generalized autoregressive conditional heteroskedasticity models, and produce more accurate value‐at‐risk forecasts.
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ItemCollective action and market formation: An integrative framework(WILEY, 2018-01)Research Summary: While extant research recognizes the importance of collective action for market formation, it provides little understanding about when and to what extent collective action is important. In this article, we develop a novel theoretical framework detailing what collective action problems and solutions arise in market formation and under what conditions. Our framework centers on the development of market infrastructure with three key factors that influence the nature and extent of collective action problems: perceived returns to contributions, excludability, and contribution substitutability. We apply our framework to diverse market formation contexts and derive a set of attendant propositions. Finally, we show how collective action problems and solutions evolve during market formation efforts and discuss how our framework contributes to strategic management, entrepreneurship, and organization literatures. Managerial Summary: This article lays out the key considerations that players operating in new markets should contemplate when making nontrivial investments in those spaces. As collective action problems can thwart efforts to establish new markets, we ask: When and under what conditions should market players collaborate rather than act independently? And if players collaborate, how should they coordinate to establish a new market? To address these research questions, we develop a novel generalizable framework of collective action in market formation. Our framework assesses the presence and type of collective action problems that hinder market formation and identifies potential solutions tied to those collective action problems.
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ItemEmotional intelligence and individual differences in affective processes underlying task-contingent conscientiousness(Wiley, 2018-11-01)Summary Organisational researchers have recently begun to focus on the more dynamic aspects of personality in the workplace. The present study examines individual differences in the affective processes that underlie one such dynamic construct, task‐contingent conscientiousness. Using experience sampling data collected over 3 weeks from 201 managers, we show (a) that individuals differ substantially from each other in the paths that connect task demand, positive and negative affect, and conscientious behaviour; (b) that these individual differences cohere to define person types or classes that represent meaningful differences in the extent to which task‐contingent conscientiousness is mediated affectively; and (c) that emotional intelligence increases the likelihood of membership in classes that are characterised by affectively mediated effects. Theoretical implications of the findings are discussed with reference to the cognitive‐affective personality system model, research on the consequences of affect in the workplace, and the literature on emotional intelligence. Practical applications are suggested for managers who wish to use personality assessment for developmental purposes, especially in relation to facilitating behavioural change.
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ItemWork-Life Support Practices and Customer Satisfaction(John Wiley & Sons Inc., 2018-02-01)Despite the growing prevalence of work-life support (WLS) practices in companies, there is a lack of theoretical and empirical clarity on their benefits to organizational performance. It is also unclear if the organizational performance effects of WLS practices vary based on an organization's internal and external environments. The dual objective of this paper is to investigate whether WLS practices relate to customer-focused outcomes and, if so, under which conditions WLS practices yield benefits. Drawing on contingency theory, we examine how the boundary conditions of internal firm characteristics (e.g., percentage of top management team [TMT] members with children) and external environmental factors (e.g., gender egalitarianism of the country) moderate the relationship between WLS practices and customer satisfaction. We shed light on these issues by examining multisource, longitudinal data collected over three years from a multinational corporation operating in 27 countries. The results show that both percentage of TMT members with children and gender egalitarianism of the country strengthen the relationship between WLS practices and customer satisfaction. The findings provide insights into the circumstances when WLS practices provide performance benefits for firms and the translatability of these benefits from one country to another.
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ItemChallenges Facing the World Trade Organization: An Overview(WILEY, 2018-12)Abstract Tensions are running high in the world trading system. Sufficient conditions now exist for a continuing degeneration of trading relations creating a downward spiral and launching a serious trade war with unknown consequences. History has shown this scenario can be avoided if trading relations are based on agreed rules, enforced by an effective compliance mechanism and fully respected by governments. With the World Trade Organization (WTO) now at its heart, the very existence of the rules‐based trading system is under threat. Challenges facing the WTO and the reforms needed to deal with them are addressed in this article.
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ItemSee the Benefit: Adversity Appraisal and Subjective Value in Negotiation(WILEY, 2018-10)Negotiation scholars know relatively little about how negotiators can overcome adverse circumstances and end negotiations with an enhanced sense of satisfaction. Using a series of two negotiations simulations, we tested whether cognitive reappraisal influences negotiators' responses to adverse experiences. After completing a negotiation in which they either did – or did not – encounter difficulties, participants identified a challenging moment and wrote about either the benefits or harms they associated with that moment. They then completed a second negotiation and reported their post‐negotiation satisfaction using the Subjective Value Inventory. Compared to negotiators who did not encounter adversity, those negotiators who did encounter challenges and engaged in benefit finding reported higher levels of process and relationship satisfaction than those who engaged in harm finding. We also found that negotiators reported greater process and relationship satisfaction under adverse circumstances (hard negotiation or harm‐finding appraisal) when their partners used inclusive language (we, ours, us) in the second negotiation.
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ItemThe Social Context of Compensation Design: Social Norms and the Impact of Equity Incentives(Wiley, 2018)Drawing on arguments from institutional theory, this study examines how social norms—specifically, local religious social norms—affect the motivational impact of equity‐based incentives. We test our model using longitudinal data on local religious norms, CEO equity incentives, and firm value. Consistent with our theoretical predictions, we find that local religious social norms attenuate the impact of CEO option incentives upon firm value. Furthermore, we find that the attenuating impact of local religious social norms increases with managerial discretion. These findings provide valuable insight for human resource professionals aiming to design compensation contracts for employees that are aligned with firm goals. Our findings also contribute to research on the motivational effect of equity incentives by demonstrating the importance of considering the social context in which executives are embedded.
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ItemQuality and resource efficiency in hospital service provision: A geoadditive stochastic frontier analysis of stroke quality of care in Germany(PUBLIC LIBRARY SCIENCE, 2018-09-06)We specify a Bayesian, geoadditive Stochastic Frontier Analysis (SFA) model to assess hospital performance along the dimensions of resources and quality of stroke care in German hospitals. With 1,100 annual observations and data from 2006 to 2013 and risk-adjusted patient volume as output, we introduce a production function that captures quality, resource inputs, hospital inefficiency determinants and spatial patterns of inefficiencies. With high relevance for hospital management and health system regulators, we identify performance improvement mechanisms by considering marginal effects for the average hospital. Specialization and certification can substantially reduce mortality. Regional and hospital-level concentration can improve quality and resource efficiency. Finally, our results demonstrate a trade-off between quality improvement and resource reduction and substantial regional variation in efficiency.
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ItemSelecting the regularization parameters in high-dimensional panel data models: Consistency and efficiency(Taylor & Francis, 2018-01-01)This article considers panel data models in the presence of a large number of potential predictors and unobservable common factors. The model is estimated by the regularization method together with the principal components procedure. We propose a panel information criterion for selecting the regularization parameter and the number of common factors under a diverging number of predictors. Under the correct model specification, we show that the proposed criterion consistently identifies the true model. If the model is instead misspecified, the proposed criterion achieves asymptotically efficient model selection. Simulation results confirm these theoretical arguments.
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ItemA new method of identifying target groups for pronatalist policy applied to Australia(PUBLIC LIBRARY SCIENCE, 2018-02-09)A country's total fertility rate (TFR) depends on many factors. Attributing changes in TFR to changes of policy is difficult, as they could easily be correlated with changes in the unmeasured drivers of TFR. A case in point is Australia where both pronatalist effort and TFR increased in lock step from 2001 to 2008 and then decreased. The global financial crisis or other unobserved confounders might explain both the reducing TFR and pronatalist incentives after 2008. Therefore, it is difficult to estimate causal effects of policy using econometric techniques. The aim of this study is to instead look at the structure of the population to identify which subgroups most influence TFR. Specifically, we build a stochastic model relating TFR to the fertility rates of various subgroups and calculate elasticity of TFR with respect to each rate. For each subgroup, the ratio of its elasticity to its group size is used to evaluate the subgroup's potential cost effectiveness as a pronatalist target. In addition, we measure the historical stability of group fertility rates, which measures propensity to change. Groups with a high effectiveness ratio and also high propensity to change are natural policy targets. We applied this new method to Australian data on fertility rates broken down by parity, age and marital status. The results show that targeting parity 3+ is more cost-effective than lower parities. This study contributes to the literature on pronatalist policies by investigating the targeting of policies, and generates important implications for formulating cost-effective policies.