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The purpose of this paper is to suggest best practices for managing a successful student-managed investment program (SMIP) based on the experience of the Marquette University’s Applied Investment Management (AIM) program.

The authors provide a detailed description of the program curriculum, instructional design, fund structure, program history, fund performance and student outcomes.

Through its experiential learning innovations, focus on ethics and close relationships with a dedicated alumni group, the AIM program prepares students for a successful career in investment analysis. Students who graduate from the AIM program experience a significantly higher successful placement rate and higher compensation at their first post-graduation job than finance major students who graduate outside the program.

This paper provides a detailed description of the distinguishing characteristics of the AIM program and, in doing so, it offers ideas that could be implemented by other SMIPs to improve student satisfaction, proficiency in investment analysis and employment prospects.

The purpose of this study is to ascertain how foreign and domestic Exchange Traded Funds (ETFs) investing in Indian equities affect their return volatility and pricing efficiency. Further, we investigate how the difference in market timings affect the impact of ETFs on their constituents. Lastly, we examine how these effects vary during tranquil and turmoil periods in the ETF markets.

The study is based on quarterly data for stocks comprising the CNX Nifty 50 Index from 2009Q1 to 2019Q3. The data on holdings of 45 domestic and 196 foreign ETFs in the sample stocks were obtained from Thomson Reuters' Eikon. The paper employs a panel-regression methodology with stock and time fixed effects and robust standard errors.

Foreign ETFs from North America and the Asia Pacific largely have an adverse impact on stocks' return volatility. In times of turmoil, stocks with higher coverage of European, North American and Domestic funds are susceptible to volatility shocks emanating from these regions. European and Asia Pacific ETFs are associated with improved price discovery while North American funds impound a mean-reverting component in stock prices. However, in turbulent markets, both positive and negative impacts of ETFs on pricing efficiency coexist.

To the best of the authors' knowledge, this is the first study that examines the impact of domestic as well as foreign ETFs on the equities of an emerging market. Furthermore, the study is unique as we investigate how the effects of ETFs vary in turbulent and tranquil markets. Moreover, the paper examines the role of asynchronous market timings in determining the ETF impact. The paper adds to the growing literature on the unintended consequences of index-linked products.

Supply chain management is an increasingly important organizational concern, and proper management of supplier relationships constitutes one essential element of supply chain success. However, there is little empirical research that has tested the effect of supplier development on performance. The main objective is to analyze the effect of supplier development practices with different levels of implementation complexity on the firm's purchasing performance.

Three supplier development constructs were defined: basic supplier development, moderate supplier development, and advanced supplier development. Three structural models were hypothesized and tested using structural equation modeling through field research on a sample of 306 manufacturing companies in Spain.

Identified important interrelationships among the various supplier development practices, basic, moderate, and advanced. Also indicated that the implementation of supplier development practices significantly contributes to the prediction of purchasing performance.

The use of a single key informant could be seen as a potential limitation of the study. The study was a cross‐sectional and descriptive sample of the manufacturing industry at a given point in time. A more stringent test of the relationships between the different levels of supplier development and performance requires a longitudinal study, or field experiment.

This study focused on supplier development practices and revealed how involving suppliers in supplier development activities is important and may help buyers to increase their purchasing performance. The findings from the structural analysis should provide practicing managers with insights on how these practices and their benefits are related in terms of purchasing performance, thus affecting their ability to make better sourcing decisions.

Fills an important gap in the purchasing literature with respect to the area of supplier development. While there is much written about supplier development based on conceptual and case study research, this study is unique in that it is the first attempt to empirically model the relationships between different levels of supplier development and their impact on purchasing performance using a comprehensive set of practices.

We document the emergence of the Lead Independent Director (LID) board role in a sample of U.S. firms from 1999–2015. We find that firms that adopt an LID board role are larger and have more independent boards, higher institutional investor holdings, and an NYSE listing. Firms with greater anticipated benefits from monitoring also adopt an LID role, e.g., firms with dual CEO-Chairman, with more takeover defense mechanisms, and with higher cash holdings. Using an event study methodology, we find that investors respond positively to the adoption of an LID board role. Lastly, using instrumental variables to address endogeneity in the LID board role, we find that firms with an LID are more likely to terminate poorly performing CEOs. Taken as a whole, these results suggest that the LID board role enhances firm value and improves the quality of corporate governance.

This paper presents a conceptual model of effective subcontractor development practices to guide general contractors' development of a network of high-performing subcontractors (SCs) for Leadership in Energy and Environmental Design (LEED) projects.

Drawing from supplier development theories and practices in the manufacturing sector, a mixed interpretivist and empirical methodology is adopted to examine the body of knowledge within literature for conceptual model development. A self-reporting survey questionnaire with a five-point Likert scale is used to assess 30 construction professionals' perceptions of the effectiveness of 37 SC development practices classified into five categories. Descriptive statistics, weighted means, and t-tests are used for data analysis.

SC prequalification, commitment, incentives, evaluation and feedback practices can be effective in generating high-performing SCs. Practices that require more direct involvement and linkages between GC and SC are perceived to be less effective.

Theoretical contributions include a framework to foster future research to advance knowledge and understanding to enhance the adoption of SC development practices in the construction sector.

Implementation of ranked SC development practices can equip GCs with a network of high-performing SCs for improved competitive advantage and revenues.

The proposed conceptual model expands discussions on the modification of supplier development theories and practices currently utilized in the manufacturing sector toward their application in the construction sector. This research differs from previous research, which primarily focused on the manufacturing sector.

The purpose of this paper is to investigate systematically the topic of operations capabilities within the operations strategy area. The output is a framework that will benefit researchers and firms to gain a more complete understanding of critical operations capabilities.

The research methodology is a systematic literature review. The aim of this study is to provide a snapshot of the diversity of studies being conducted in the field of operations capabilities, within the operations strategy area. In total, 157 papers were taken into consideration. Various operations capabilities were identified and synthesized in a conceptual framework.

The output of this paper is a conceptual framework of critical operations capabilities. Different operations capabilities and dimensions were identified in the literature. In total, seven dimensions were identified and included in the framework: cost, quality, delivery, flexibility, service, innovation, and environment.

This research was conducted through a systematic literature review. The framework presented in this paper provides a summary of critical operations capabilities, and in addition theoretical support for managers and firms wishing to formulate an operations strategy.

In general, this research sets the basis for managers and practitioners concerning the formulation of successful operations strategies. In the long term, a deeper understanding and shared knowledge about competitive priorities and operations capabilities can positively influence the success of firms.

This paper extends the theory by providing researchers and managers with updated knowledge on operations capabilities.

This paper uses the relational capabilities perspective to provide new insights into the mediating role of relational capabilities and their performance implications. Specially, this paper aims to explain how characteristics of a partnership influence relational capabilities that in turn enhance firm performance.

Using data from an original survey of 156 partnership projects between buyers and suppliers in the Thai manufacturing sector, the authors use a structural model to test their hypotheses.

The empirical analysis shows that the impact of relational and economic attributes of a partnership on firm performance is mediated by knowledge sharing routines and complementary capability. However, the impact varies between operational and strategic performance, as relational capabilities are strongly associated with operational performance but only indirectly associated with strategic performance.

The need to coordinate and mobilize complementary resources not only increases the interdependence between buyers and suppliers but also contributes to firm performance. Specifically, operations can be enhanced by knowledge sharing routines and complementary capability. At a strategic level, operational effectiveness enables firms to benefit from inter-organizational relationships.

The authors contribute to industrial marketing knowledge by shedding light on mediation of relational capabilities between inter-organizational attributes and firm performance. The findings demonstrate the value of the relationship between a firm’s supply chain and its relational capabilities which in turn drive project performance.

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

The purpose of this paper is to study the relational impact of using win-win or win-lose negotiation strategies within different types of buyer-supplier relationships.

A multi-method approach is used. Qualitative interviews with supply chain managers reveal that relationship-specific assets and cooperation are important relational factors in buyer-supplier negotiations. Framing interview insights within the social exchange theory (SET), hypotheses are tested using a scenario-based behavioral experiment.

Experimental results suggest that win-lose negotiators decrease their negotiating partner’s commitment of relationship-specific assets and levels of cooperation. In addition, the use of a win-lose negotiation strategy reduces levels of relationship-specific assets and cooperation more in highly interdependent buyer-supplier relationships than relationships that are not as close.

Buyer-supplier relationships are complex interactions. Negotiation strategy choice decisions can have long-term effects on the overall relationship. As demonstrated in this study, previous research focusing on one side “winning” a negotiation as a measure of success has oversimplified this complex phenomenon.

The use of a win-lose negotiation strategy can have a negative impact on relational outcomes like cooperation and relationship-specific assets. For companies interested in developing strong supply chain relationships, buyer and suppliers should choose their negotiation strategy carefully as the relational impact extends beyond the single negotiation encounter.

Previous research predominantly advocates for the use of a win-win negotiation strategy within interdependent relationships. This research offers evidence that the use of a win-lose strategy does have a long-term relational impact.

The purpose of this paper is to develop a set of nine hypotheses linking four purchasing and supply management (PSM) practices directly to purchasing performance and indirectly to financial performance.

The authors collected data in a global cross‐industry survey of 148 companies, combining primary interview and survey data with secondary data on firm performance, in order to minimize the impact of common method variance.

Support was found for eight of the nine hypotheses. In particular, a positive impact was found of cross‐functional integration and functional coordination on purchasing performance, and of purchasing performance on firm performance. Both talent management and performance management have a positive impact on cross‐functional integration and functional coordination. Talent management also has a direct impact on purchasing performance, in contrast to performance management.

The association of enhanced PSM maturity levels with financial performance metrics collected from secondary data sources provides robust empirical support for the stated but to this point largely untested positive impact of PSMmaturity on the firm's competitive position.