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Item Open Access BRINGING EXCITEMENT TO EMPIRICAL BUSINESS ETHICS RESEARCH: THOUGHTS ON THE FUTURE OF BUSINESS ETHICS(Journal of Business Ethics, 2022-09-15) Babalola, Mayowa T.; Bal, Matthijs; Cho, Charles H.; Garcia‑Lorenzo, Lucia; Guedhami, Omrane; Liang, Hao; Shailer, Greg; Gils, Suzanne vanTo commemorate 40 years since the founding of the Journal of Business Ethics, the editors-in-chief of the journal have invited the editors to provide commentaries on the future of business ethics. This essay comprises a selection of commentaries aimed at creating dialog around the theme Bringing Excitement to Empirical Business Ethics Research (inspired by the title of the commentary by Babalola and van Gils). These editors, considering the diversity of empirical approaches in business ethics, envisage a future in which quantitative business ethics research is more bold and innovative, as well as reflexive about its techniques, and dialog between quantitative and qualitative research nourishes the enrichment of both. In their commentary, Babalola and van Gils argue that leadership research has stagnated with the use of too narrow a range of perspectives and methods and too many overlapping concepts. They propose that novel insights could be achieved by investigating the lived experience of leadership (through interviews, document analysis, archival data); by focusing on topics of concern to society; by employing different personal, philosophical, or cultural perspectives; and by turning the lens on the heroic leader (through “dark-side” and follower studies). Taking a provocative stance, Bal and Garcia-Lorenzo argue that we need radical voices in current times to enable a better understanding of the psychology underlying ethical transformations. Psychology can support business ethics by not shying away from grander ideas, going beyond the margins of “unethical behaviors harming the organization” and expanding the range of lenses used to studying behavior in context. In the arena of finance and business ethics, Guedhami, Liang, and Shailer emphasize novel data sets and innovative methods. Significantly, they stress that an understanding the intersection of finance and ethics is central to business ethics; financial equality and inclusion are persistent socio-economic and political concerns that are not always framed as ethics issues, yet relevant business policies and practices manifest ethical values. Finally, Charles Cho offers his opinion on the blurry line between the “ethical” versus “social” or “critical” aspects of accounting papers. The Journal of Business Ethics provides fertile ground for innovative, even radical, approaches to quantitative methods (see Zyphur and Pierides in J Bus Ethics 143(1):1–16, https://doi.org/10.1007/s10551-017-3549-8, 2017), as part of a broad goal of ethically reflecting on empirical research.Item Open Access BUILDING CHARACTER: THE FORMATION OF A HYBRID ORGANIZATIONAL IDENTITY IN A SOCIAL ENTERPRISE(Wiley, 2020-09) Cornelissen, Joep P.; Akemu, Ona; Jonkman, Jeroen G. F.; Werner, Mirjam D.The formation of a hybrid organizational identity is a significant challenge for many social enterprises. Drawing on in-depth longitudinal data from the first three years of a successful social enterprise – Fairphone, founded in Amsterdam – we induce an empirically grounded theoretical model of how a hybrid organizational identity is formed. We identify a general process of organizational identity formation, with founders, leaders and members experimenting with different organizational characters describing ‘who they are’ as well as with alternative social impact strategies defining ‘what they do’. As part of this experimental process, we elaborate the role of a key leadership process – ‘rekeying’, which involves leaders re-figuring prior understandings into more dual readings – which we found facilitates ongoing adaptation and helps members of the organization to become progressively better able at combining multiple objectives and values as part of a shared hybrid identity. Our theoretical model of hybrid organizational identity formation has a number of direct implications for ongoing research on organizational identity formation and hybrid organizations.Item Open Access BUILDING COHESIVE TEAMS—THE ROLE OF LEADERS’ BOTTOM-LINE MENTALITY AND BEHAVIOR(Sustainability, 2021-07-19) Riisla, Katrin; Wendt, Hein; Babalola, Mayowa T.; Euwema, MartinTeam cohesiveness plays a crucial role in effective teamwork, innovation, and improved performance, and as such, its development among team members is an essential part of team management. However, it may be disregarded by leaders with a high bottom-line mentality (BLM; a single-minded focus on the bottom line at the expense of other values or priorities). These leaders may show little interest in other priorities, such as ethical, social, or environmental considerations, and may be tempted to push their followers to go above and beyond what is expected, even if it means bending the rules, cutting corners, or engaging in other ethically problematic behaviors. We argue that although a team leader’s BLM may motivate followers to come together around the pursuit of a common goal, it may come at the expense of nurturing healthy interpersonal relationships, trust, and other important social resources within the team. Specifically, we argue that the way leaders with a high BLM approach their goals may affect team cohesiveness, and that it is particularly negative for female leaders. Using a large multi-national study, we found that this happens through increased directive and lowered participative leader behaviors.Item Open Access CEOs’ appraisals of venture capitalists’ external and internal support: a transaction cost economics perspective(Venture Capital, 2016) Khanin, Dmitry; Turel, OfirPrevious research has established that, in addition to provision of financing, venture capitalists (VCs) may add value to new ventures via different types of management support. In this paper, we propose that transaction cost economics (TCE) may complement other theoretical frameworks (e.g., agency theory, the resource-based view, knowledge-based theory, and resource dependence perspective) in explaining CEOs’ polar and ambivalent appraisals of the benefits and costs of different types of VC support and the overall value of VC assistance. Following TCE, we approach VC-funded new ventures as hybrids of markets and hierarchies. Hence, we assume that VCs help their portfolio companies both to externalize, or learn to better operate under the market mode of governance, and internalize, or learn to better operate under the hierarchy mode of governance. We propose that VCs use external support to facilitate venture externalization and use internal support to facilitate venture internalization. Based on structural equation modeling (SEM) analysis of data from an online survey that generated 104 valid responses from CEOs of VC-funded new ventures, we establish that CEOs associate VCs’ external support positively with the perceived benefits of VC assistance and negatively with the perceived costs of VC assistance. In contrast, CEOs associate VCs’ internal support positively both with the perceived benefits and costs of VC assistance. We also demonstrate that CEOs’ assessments of the perceived benefits and costs of VC assistance are, respectively, associated positively and negatively with their appraisals of the overall value of VC assistance. Finally, we ascertain that CEO experience is related negatively to CEOs’ appraisals of the overall value of VC assistance. Implications of these findings for research and practice are discussed.Item Open Access CORPORATE GOVERNANCE IN RUSSIAN STATE-OWNED ENTERPRISES: REAL OR SURREAL?(Asian Journal of Comparative Law, 2022) Nurgozhayeva, RozaThe narrative that defines privatisation, corporatisation, and the separation of ownership and regulatory functions as the key prerequisites for a successful state-owned enterprises’ (SOE) governance structure represents the literature's leading approach. This approach has been embedded in national laws and policies across many countries. Nonetheless, some legal scholars have scrutinised and questioned this single-minded perspective, emphasising the impact of existing institutional conditions and calling for an alternative understanding of corporate governance dynamics in different SOEs. Notwithstanding a vigorous debate on SOEs, it almost exclusively focuses on China, while Russia, being another large state-driven economy, has been missing. This article fills this gap and offers a comparative and critical perspective on the state ownership system in Russia. The analysis of Russian SOEs reveals classic governance and incentive problems attributable to state ownership. However, the question is how despite close affiliation to the State and high transaction costs caused by state interference, Russian SOEs have gained a substantial international market presence. This article answers this paradox.Item Open Access DOMINANT CURRENCIES: HOW FIRMS CHOOSE CURRENCY INVOICING AND WHY IT MATTERS*(The Quarterly Journal of Economics, 2022) Amiti, Mary; Itskhoki, Oleg; Konings, JozefWe analyze how firms choose the currency of invoicing and the implications of this choice for exchange rate pass-through into export prices and quantities. Using a new data set for Belgian firms, we find currency invoicing to be an active firm-level decision, shaped by the firm’s size, exposure to imported inputs, and the currency choices of its competitors. Our results show that a firm’s currency choice, in turn, has a direct causal effect on the exchange rate pass-through into prices and quantities. Moreover, the differential price response of similar firms that invoice in different currencies is large, persists beyond a one-year horizon, and gradually wanes in the long run. This results in allocative expenditure-switching effects on export quantities, which build up over time, suggesting a role for quantity adjustment frictions in addition to price stickiness. Our findings shed light on the mechanisms that make or break a dominant currency and the consequences it has for the international transmission of shocks.Item Open Access E-commerce adoption in the retail sector: empirical insights(International Journal of Retail & Distribution Management, 2006) Nikolaeva, RalitzaPurpose of this paper To investigate the determinants of e-commerce adoption in the retail sector using duration analysis. Design/methodology/approach The study proposes a conceptual model based on technology adoption and population ecology models. It identifies specific determinant factors organized under three areas: perceived benefits, organizational readiness, and external influences. Duration analysis is applied to data on 392 retailers.Item Metadata only An empirical investigation of the antecedents of partnering capability(International Journal of Production Economics, 2016-08-01) Colicev, Anatoli; De Giovanni, Pietro; Vinzi, Vincenzo Esposito; Anatoli, ColicevAbstract In this paper, we propose a new approach to evaluating firms’ Partnering Capability. While previous research treats Partnering Capability as an exogenous factor, we take into account its antecedents and thus conceive it as endogenous. Our motivations are driven by the fact that firms ex-ante evaluate their partners by assessing their Partnering Capability. We focus on departmental integration, customer service, and economic and operational performance as key antecedents of Partnering Capability. Our empirical findings show that Partnering Capability is directly induced by operational performance and departmental integration. In addition, customer service along with departmental integration generates a chain of indirect effects due to economic and operational performance. Finally, we investigate the importance-performance matrix analysis (IMPA) that further identifies the managerial levers to enhance Partnering Capability.Item Open Access Employee attrition in selected industries: ITES, Banking, Insurance and Telecommnication in Delhi & NCR(International Journal of Trends in Human Resource Management, 2014) Saini, Pankaj; Subramanian, VenkatEmployee attrition has been seen as across the industries and retaining talented employees has become a challenge for HR managers. This research focsed how selected four industries differe on factors of attrition ..In this research descriptive research design has been used and through non random quota sampling 600 employees from four industries have been interviewd with a structured questionnaire. Thirteen factors came out through factor analysis which is responsible for employee attrition. Telecommunications sector employees feel they are having high job targets and feel unsupportive organization culture.Insurance sector employees feel low perceived value and insecurity for their job, less growth opportunities and have less learning opportunity. IT&ITES sector employees feel they are not provided good compensation and there are high job targets in their job.Banking sector employees there is a role stagnation, stress and office politics in their jobin comparison.Item Open Access Foreign Direct Investments and a "cool" country / Прямые иностранные инвестиции и «cool» государство(Kapital, 2016-11-18) Jochec (Йохец), Marek (Марек)Softening visa regime and regulations regarding the entry and stay of foreigners in Kazakhstan is recommended in order to better attract foreign investors.Item Open Access Helping Learners Recognize, Diagnose, and Unravel Incompetence Traps to Achieve Synergistic Exploration–Exploitation in Classroom(Journal of Management Education, 2015) Gnanlet, Adelina; Khanin, DmitrySensemaking theory suggests that sensemaking may collapse when perception fails to detect weak signals of changes in the environment, cognition fails to appropriately categorize the new data coming from perception, and action fails to test the applicability of new concepts and schemas. Mindfulness–mindlessness theory warns us that routine practices based on low levels of exploration and exploitation may hinder performance. Finally, the theory of learning failure distinguishes between the traps of failure or overexploration and the traps of success or overexploitation. Combining and advancing these insights, we offer a typology of incompetence traps: (a) underexploration–underexploitation or mindlessness, (b) overexploration–underexploitation, and (c) overexploitation–underexploration. We examine their manifestations in perception, cognition, and action. Based on our analysis of how incompetence traps may hamper learning in management education, we give examples of how instructors may help students achieve synergistic exploration– exploitation via informed vision (combining depth and multiple perspectives); perceptive thinking (combining theoretical, constraint-savvy knowledge and practical, context-savvy knowledge); and mindful action (developing and refining new and existing capabilities).Item Metadata only Higher-degree stochastic dominance optimality and efficiency(European Journal of Operational Research, 2017-09-16) Fang, Yi; Post, Thierry; Yi, FangAbstract We characterize a range of Stochastic Dominance (SD) relations by means of finite systems of convex inequalities. For ‘SD optimality’ of degree 1 to 4 and ‘SD efficiency’ of degree 2 to 5, we obtain exact systems that can be implemented using Linear Programming or Convex Quadratic Programming. For SD optimality of degree five and higher, and SD efficiency of degree six and higher, we obtain necessary conditions. We use separate model variables for the values of the derivatives of all relevant orders at all relevant outcome levels, which allows for preference restrictions beyond the standard sign restrictions. Our systems of inequalities can be interpreted in terms of piecewise polynomial utility functions with a number of pieces that increases with the number of outcomes and the degree of SD. An empirical study analyzes the relevance of higher-order risk preferences for comparing a passive stock market index with actively managed stock portfolios in standard data sets from the empirical asset pricing literature.Item Open Access Iinterorganizational imitation heuristics arising from cognitive frames(Journal of Business Research, 2012) Nikolaeva, RalitzaThe literature on organizational imitation mostly disregards its cognitive aspect. Yet, imitation is a cognitive heuristic for complex strategic decisions. The current essay draws a unifying framework of different models of imitation through a cognitive lens in the context of innovation adoptions. It describes the interaction of the framing of imitation and the organization’s evaluation of an innovation. This interaction of threat and opportunity categorizations results in the use of various combinations of the two most popular imitation heuristics – “imitate the successful” and “imitate the majority” – as managers decide to copy predecessors in order to improve the status quo or to avoid losing it. Since the framings dictate different imitation timings, the speed of innovation diffusion depends on these interactions. However, as different cognitive frames may trigger the same heuristics, generalizations about the adoption motivation based on its timing can be unrealistic...Item Open Access THE IMPACT OF ELECTRICITY PRICES ON EUROPEAN MANUFACTURING JOBS(APPLIED ECONOMICS, 2022) Bijnens, Gert; Konings, Jozef; Vanormelingen, StijnIncreased investment in clean electricity in combination with a rising cost of carbon will most likely lead to higher electricity prices. We examine the impact from changing electricity prices on European manufacturing employment and find a negative elasticity for the most electricity-intensive sectors. Since these sectors are unevenly spread across countries and regions, the negative employment impact from increasing electricity prices will also be unevenly spread. Policymakers should be well aware of this and take mitigating actions to ensure a positive public sentiment towards environment-related price increases. (JEL J23, H23, Q28, Q43)Item Open Access Is Investing in Social Media Really Worth It? How Brand Actions and User Actions on Social Media Influence Brand Value(Service Science, 2016) Colicev, Anatoli; O'Connor, Peter; Vinzi, Vincenzo EspositoAlthough previous studies have documented a positive link between traditional media and brand performance, how social media is related to brand value has not yet been comprehensively explored. We propose a conceptual model to address this research gap, collecting a unique data set that captures information on user and brand actions on three social media platforms (Facebook, Twitter, and YouTube), word-of-mouth, and brand value for 87 brands in 17 industries. We empirically test our model with partial least squares path modeling (PLS-PM). First, we test the direct effects and find that user actions on YouTube and brand actions on Facebook have a positive influence on brand value. Second, we enrich our model by including word-of-mouth as a mediator, finding that the effect of social media goes above and beyond pure word-of-mouth spread. We test for alternative models, by first accounting for sample heterogeneity and second by including brand strength as a control variable, finding that the main model results’ are indeed robust. Our study demonstrates that making use of social media positively relates to brand value, as well as validates a set of objective metrics to measure social media actions, thus advancing knowledge on social media marketing for both academics and practitioners.Item Open Access Liberalism and home equity bias(Social Science Research Network (SSRN) http://www.ssrn.com/en/, 2009-04-29) Benos, Evangelos; Jochec, MarekCountries whose citizens have liberal ideals are less biased toward domestic equity. Data from 30 countries suggests that economic as well as social liberalism is associated with proportionally higher foreign equity holdings. A one standard deviation increase in the level of economic (social) liberalism relative to time-series and cross-sectional averages, is associated with a 5% (2%) relative decrease of home equity bias. These results hold after controlling for standard rational and behavioral explanations of the home equity bias as well as country and time fixed effects.Item Open Access MISPRICED INDEX OPTION PORTFOLIOS(Financial Management, 2019) Constantinides, George M.; Czerwonko, Michal; Perrakis, StylianosIn model-free out-of-sample tests, we find that the optimal portfo lio of a utility maximizing investor trading in the S&P500 Index, cash, and index options bought at ask and written at bid prices stochas tically dominates the optimal portfolio without options and yields returns with higher mean and lower volatility in most months from 1990 to 2013. Unlike earlier claims of overpriced puts, our portfolios include mostly short calls and are particularly profitable when matu rity is short and volatility is high. Similar results are obtained with the CAC and DAX indices. Neither priced factors nor a nonmonotonic stochastic discount factor explains the excess returns.Item Open Access National Fund of the Republic of Kazakhstan - Where to go from here / Нацфонд Казахстана – куда двигаться дальше?(National Business KZ, 2016) Jochec (Йохец), Marek (Марек); Айдана, Есенгалиева (переводчик)On how to invest the sovereign wealth fund of Kazakstan.Item Open Access Numerical solution of an inverse problem of determining the parameters of a source of groundwater pollution(Eurasian Journal of Mathematical and Computer Applications, 2017-01-01) Turganbayev, Y. M.; Karchevsky, A. L.,; Rakhmetullina, S. J.; Beldeubayeva, Z. H.T.The article deals with an inverse problem of determining parameters of groundwater pollution sources. We test three ways to solve the problem on the simulated data for a simple case of contamination. We discover that, in the presence of noise in the data of the inverse problem, the first method does not produce satisfactory recovery results, while the second and third ones are comparable in accuracy of the recovery of required parameters. Taking into account the ease of implementation, the speed of computing and parallelization feasibility the second method of solving the inverse problem is found to be most preferable. We also propose a method of finding pollution parameters in general case...Item Open Access Online market entry: the motivations for imitation across retailer types(Managerial and Decision Economics, 2014) Bhatnagar, Amit; Nikolaeva, Ralitza; Ghose, SanjoyThis study examines the motivations for imitation in retailers’ online channel entry. Extant literature suggests that legitimacy and efficiency are the primary motivators for firms to imitate. We develop hypotheses which center on the belief that not all firm types would use the same motivator for deciding to imitate and enter the online market; legitimacy would be the driving force for some retailer types while efficiency would be the motivator for others. We test our hypotheses on a unique data collected from multiple sources. Our findings confirm that the motivators for imitation vary across retailer types. Bhatnagar, Amit and Nikolaeva, Ralitza and Ghose, Sanjoy, Online Market Entry: The Motivations for Imitation Across Retailer Types (November 2014). Managerial and Decision Economics, Forthcoming. Available at SSRN: http://ssrn.com/abstract=2522084