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Book part
Publication date: 29 January 2018

Huat Bin (Andy) Ang and Arch G. Woodside

This study applies asymmetric rather than conventional symmetric analysis to advance theory in occupational psychology. The study applies systematic case-based analyses to model…

Abstract

This study applies asymmetric rather than conventional symmetric analysis to advance theory in occupational psychology. The study applies systematic case-based analyses to model complex relations among conditions (i.e., configurations of high and low scores for variables) in terms of set memberships of managers. The study uses Boolean algebra to identify configurations (i.e., recipes) reflecting complex conditions sufficient for the occurrence of outcomes of interest (e.g., high versus low financial job stress, job strain, and job satisfaction). The study applies complexity theory tenets to offer a nuanced perspective concerning the occurrence of contrarian cases – for example, in identifying different cases (e.g., managers) with high membership scores in a variable (e.g., core self-evaluation) who have low job satisfaction scores and when different cases with low membership scores in the same variable have high job satisfaction. In a large-scale empirical study of managers (n = 928) in four (contextual) segments of the farm industry in New Zealand, this study tests the fit and predictive validities of set membership configurations for simple and complex antecedent conditions that indicate high/low core self-evaluations, job stress, and high/low job satisfaction. The findings support the conclusion that complexity theory in combination with configural analysis offers useful insights for explaining nuances in the causes and outcomes to high stress as well as low stress among farm managers. Some findings support and some are contrary to symmetric relationship findings (i.e., highly significant correlations that support main effect hypotheses).

Details

Improving the Marriage of Modeling and Theory for Accurate Forecasts of Outcomes
Type: Book
ISBN: 978-1-78635-122-7

Keywords

Abstract

Details

Structural Models of Wage and Employment Dynamics
Type: Book
ISBN: 978-0-44452-089-0

Article
Publication date: 10 June 2019

Jiang Luo and Avanidhar Subrahmanyam

High levels of turnover in financial markets are consistent with the notion that trading, like gambling, yields direct utility to some agents. The purpose of this paper is to show…

1066

Abstract

Purpose

High levels of turnover in financial markets are consistent with the notion that trading, like gambling, yields direct utility to some agents. The purpose of this paper is to show that the presence of these agents attenuates covariance risk pricing and volatility, and implies a negative relation between volume and future returns. Since psychological literature indicates that the desirability of a gamble arises from the ex ante volatility of the outcome, the authors propose that agents derive greater utility from trading more volatile stocks. These stocks earn lower average returns in equilibrium, although the risk premium on the market portfolio is positive. The authors then consider a dynamic setting where agents’ utility from trading increases when they make positive profits in earlier rounds (e.g. due to an endowment effect). This leads to “bubbles,” i.e. disproportionate jumps in asset returns as a function of past prices, higher volume in up markets relative to down markets, as well as a leverage effect, wherein down markets are followed by higher volatility than up markets.

Design/methodology/approach

Analytical.

Findings

The presence of gamblers attenuates covariance risk pricing and volatility, and implies a negative relation between volume and future returns. If gamblers prefer more volatile stocks, these stocks earn lower average returns in equilibrium. If agents’ utility from trading increases when they make positive profits in earlier rounds (e.g. to an endowment effect), this leads to higher volume and lower volatility in up markets relative to down markets.

Originality/value

No paper has previously modeled agents who derive direct utility from trading.

Details

Review of Behavioral Finance, vol. 11 no. 2
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 18 March 2021

Dong Ju, Jingjing Yao and Li Ma

Job involvement is an important predictor of how well employees perform and feel at work. However, despite fruitful findings, little is known about how person–job (P–J) fit…

Abstract

Purpose

Job involvement is an important predictor of how well employees perform and feel at work. However, despite fruitful findings, little is known about how person–job (P–J) fit affects job involvement.

Design/methodology/approach

This study used a cross-sectional design and collected data from 375 employees and 50 managers. Multivariate regression was applied to test the moderated curvilinear model.

Findings

This study found an inverted U-shaped relationship between P–J fit and job involvement. For employees with a strong performance goal orientation, maximum job involvement occurred at a higher level of P–J fit, whereas for employees with a strong learning goal orientation, maximum job involvement occurred at a moderate level of P–J fit.

Practical implications

Managers should be aware that solely maximizing fit may not constantly yield positive outcomes, and that ignoring differences in employee needs and goals may be counterproductive.

Originality/value

The study challenges the conventional wisdom that a high P–J fit is always productive by showing that a high fit may sometimes jeopardize job involvement, particularly for certain employees.

Details

Journal of Managerial Psychology, vol. 36 no. 5
Type: Research Article
ISSN: 0268-3946

Keywords

Article
Publication date: 6 November 2018

Jin Kyun Lee, Byung-Kwan Lee and Wei-Na Lee

The purpose of this paper is to investigate the impact of country-of-origin (COO) fit and consumer product knowledge on consumer brand attitudes in a cross-border strategic brand…

Abstract

Purpose

The purpose of this paper is to investigate the impact of country-of-origin (COO) fit and consumer product knowledge on consumer brand attitudes in a cross-border strategic brand alliance (SBA).

Design/methodology/approach

An experimental study with 207 subjects was conducted using a series of 2 (COO fit: low vs high COO fit) by 3 (product knowledge: low vs moderate vs high knowledge) by 2 (time: pre- vs post-alliance attitudes) mixed factorial design.

Findings

The impact of COO fit on pre- and post-alliance changes in attitude toward the partner brand showed a nonlinear relationship from high-, to moderate-, to low-knowledge consumers. High COO fit significantly and positively affected pre- and post-alliance changes in attitude toward the partner brand more for high- and low-knowledge consumers than for moderate-knowledge consumers. In contrast, low COO fit significantly and positively affected pre- and post-alliance changes in attitude toward the partner brand more for moderate-knowledge consumers than for high- and low-knowledge consumers.

Practical implications

The effectiveness of cross-border SBAs differs with consumer product knowledge. For high- and low-knowledge consumers, high COO fit information had greater impact than low COO fit information in their product evaluation. However, when targeting moderate-knowledge consumers, providing sufficient product-related attribute information would help them to generate a favorable brand attitude.

Originality/value

This study attempted to identify the complex relationship between COO fit and consumer product knowledge on the consumer decision-making process.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 30 no. 5
Type: Research Article
ISSN: 1355-5855

Keywords

Article
Publication date: 21 July 2020

Yoon Heo, Nguyen Thi Thanh Huyen and Nguyen Khanh Doanh

This paper aims to analyze the impacts of institutional quality on trade flows of NAFTA with a panel data set of 105 countries spanning the period 2006–2017.

Abstract

Purpose

This paper aims to analyze the impacts of institutional quality on trade flows of NAFTA with a panel data set of 105 countries spanning the period 2006–2017.

Design/methodology/approach

We applied the system generalized method of moment (GMM) estimator to investigate the impacts.

Findings

The results show that institutional quality is a positive and significant determinant of international trade flows of the NAFTA bloc and its trading partners. Our results also indicate that the impact of institutional quality depends on the level of economic development of NAFTA's trading partners. Specifically, the trade elasticity of institutional quality is the highest for NAFTA’s trade with middle-income countries and the lowest for NAFTA's trade with low-income countries. In the long run, the trade elasticity of institutional quality increased significantly, with the highest increase in the case of NAFTA's trade with medium-income countries and the lowest increase in the case of NAFTA's trade with low-income countries.

Originality/value

This study contributes to the existing literature in three different ways. First, we examine the differential impact of institutions on NAFTA's trade according to the level of economic development of NAFTA's trading partners. Second, we compare the differential trade elasticity of institutional quality in the long run. Finally, we support our findings through an improved research methodology by using the system GMM estimation. This method allows us to overcome the potential sample bias, omitted variable problems and endogeneity of explanatory variables.

Details

Journal of Economic Studies, vol. 48 no. 3
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 1 April 2005

Ana Paula Martins

Aims to analyse the labour market outcome when there are two unions in the industry, representing heterogeneous workers – imperfect substitutes in production.

Abstract

Purpose

Aims to analyse the labour market outcome when there are two unions in the industry, representing heterogeneous workers – imperfect substitutes in production.

Design/methodology/approach

Competition between union policies are viewed in terms of both employment and wage strategies. Results for substitutes and complements are inspected. Attention is given to the strategic behaviour of the unions, towards one another and/or the employer side. Cooperation is modelled using the Nash‐maximand approach.

Findings

Gathers some notes and enlargements to the standard collective bargaining problem in which unions maximise utility. Extends the framework to model union competition behaviour for jobs and/or employment that reproduces the standard market product analysis of imperfect competition. Focuses on heterogeneous labour.

Research limitations/implications

The analysis concentrates on the case of union duopoly, but can easily be enlarged to the n‐union setting – which is left for further investigation.

Originality/value

A simple analytical example with Stone‐Geary union utility functions and a linear labour demand system is forwarded.

Details

International Journal of Social Economics, vol. 32 no. 4
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 15 May 2017

Puneet Pasricha, Dharmaraja Selvamuthu and Viswanathan Arunachalam

Credit ratings serve as an important input in several applications in risk management of the financial firms. The level of credit rating changes from time to time because of…

Abstract

Purpose

Credit ratings serve as an important input in several applications in risk management of the financial firms. The level of credit rating changes from time to time because of random credit risk and, thus, can be modeled by an appropriate stochastic process. Markov chain models have been widely used in the literature to generate credit migration matrices; however, emergent empirical evidences suggest that the Markov property is not appropriate for credit rating dynamics. The purpose of this article is to address the non-Markov behavior of the rating dynamics.

Design/methodology/approach

This paper proposes a model based on Markov regenerative process (MRGP) with subordinated semi-Markov process (SMP) to obtain the estimates of rating migration probability matrices and default probabilities. Numerical example is given to illustrate the applicability of the proposed model with the help of historical Standard & Poor’s (S&P) credit rating data.

Findings

The proposed model implies that rating of a firm in the future not only depends on its present rating, but also on its previous ratings. If a firm gets a rating lower than its previous ratings, there are higher chances of further downgrades, and the issue is called the rating momentum. The model also addresses the ageing problem of credit rating evolution.

Originality/value

The contribution of this paper is a more general approach to study the rating dynamics and overcome the issues of inappropriateness of Markov process applied in rating dynamics.

Details

The Journal of Risk Finance, vol. 18 no. 3
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 27 June 2008

R. Durairaj, S. Mallik and N.N. Ekere

The purpose of this paper is to develop a quality control tool based on rheological test methods for solder paste and flux media.

Abstract

Purpose

The purpose of this paper is to develop a quality control tool based on rheological test methods for solder paste and flux media.

Design/methodology/approach

The rheological characterisation of solder pastes and flux media was carried out through the creep‐recovery, thixotropy and viscosity test methods. A rheometer with a parallel plate measuring geometry of 40 mm diameter and a gap height of 1 mm was used to characterise the paste and associated flux media.

Findings

The results from the study showed that the creep‐recovery test can be used to study the deformation and recovery of the pastes, which can be used to understand the slump behaviour in solder pastes. In addition, the results from the thixotropic and viscosity test were unsuccessful in determining the differences in the rheological flow behaviour in the solder pastes and the flux medium samples.

Research limitations/implications

More extensive rheological and printing testing is needed in order to correlate the findings from this study with the printing performance of the pastes.

Practical implications

The rheological test method presented in the paper will provide important information for research and development, quality control and production staff to facilitate the manufacture of solder pastes and flux media.

Originality/value

The paper explains how the rheological test can be used as a quality control tool to identify the suitability of a developmental solder paste and flux media used for the printing process.

Details

Soldering & Surface Mount Technology, vol. 20 no. 3
Type: Research Article
ISSN: 0954-0911

Keywords

Open Access
Article
Publication date: 2 December 2016

Pierre Jinghong Liang, Madhav Rajan and Korok Ray

This paper aims to explore the design of management teams when the critical task facing individual managers is monitoring the performance of worker teams and producing performance…

1823

Abstract

Purpose

This paper aims to explore the design of management teams when the critical task facing individual managers is monitoring the performance of worker teams and producing performance measures under uncertain information environments.

Design/methodology/approach

The authors use a multi-agent LEN framework – linear contract, exponential utility and normal density – to model the incentive provision and organizational design.

Findings

The main lesson is that the use of performance measures under uncertainty is greatly affected by the potential for free-riding in the very monitoring activities which generate the measures to begin with. Accordingly, the value of having a management team, that is the incremental benefit of having a second manager, depends on the monitoring technology. Of particular importance are the potential free-riding in monitoring effort among multiple managers and synergies gained from having more than one manager, such as correlation among the performance measures produced or improvement due to splitting workers pool into separate groups for each manager to monitor separately.

Originality/value

The paper pushes this line of research further by explicitly modeling the endogenous process of signal generation within a rich economic environment. In this environment, number of workers being evaluated and number of managers who produce the signals are both endogenous. Furthermore, both workers and managers are subject to moral hazard problem. In particular, the managers suffer from potential free-riding problems but may benefit from synergistic forces due to team monitoring.

Details

Journal of Centrum Cathedra, vol. 9 no. 2
Type: Research Article
ISSN: 1851-6599

Keywords

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