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1 – 10 of 58Bas Reus, Christine Moser and Peter Groenewegen
The purpose of this study is to show that an important antecedent of perceived knowledge quality is an employee’s position in the organizational network due to their participation…
Abstract
Purpose
The purpose of this study is to show that an important antecedent of perceived knowledge quality is an employee’s position in the organizational network due to their participation in different interest groups. In particular, this study theorizes that brokers establish a network of groups, which increases perceived knowledge quality vis-a-vis the social capital that employees draw on.
Design/methodology/approach
To test this study’s hypotheses on the influence of the structural position of knowledge brokers on the positive effects of social capital on perceived knowledge quality, this study combines data from an online survey with longitudinal archival data from a youth-care organization who used an enterprise social network (ESN) for knowledge sharing.
Findings
This study found a mitigating effect of being a broker on the relationship between trust and perceived knowledge quality, and also between inter-team interaction and perceived knowledge quality for lower levels of both trust and inter-team interaction on perceived knowledge quality.
Research limitations/implications
Although the hypotheses are supported, in light of prior research, the authors would have expected stronger and positive effects.
Practical implications
This research is particularly interesting because it emphasizes the important role of social capital. For organizations that deal with trust issues, it might help to stimulate employees to broaden their activity on ESNs by becoming active in multiple groups.
Originality/value
While knowledge sharing on ESNs is generally conducive for creating organizational value, there is a lack of understanding of what drives employees’ perception of the quality of shared knowledge, and how this perception may depend on their position in the social network. To investigate this question, the authors turn to social capital theory.
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Philani Shandu and Imhotep Paul Alagidede
The study endeavours to determine (1) whether the disposition effect exists among South African investor teams, (2) whether it is causally intensified by a set of psychosocial…
Abstract
Purpose
The study endeavours to determine (1) whether the disposition effect exists among South African investor teams, (2) whether it is causally intensified by a set of psychosocial factors and (3) whether the disposition effect causally reduces investor welfare.
Design/methodology/approach
Following a natural field experimentation design involving a sample of investor teams participating in the 2019 run of the JSE University Investment Challenge, the authors use regression adjustments as well as bootstrap tests to investigate the casual implications of a set of psychosocial factors on the intensity of the disposition effect, as well on the attenuation of market-adjusted ex post returns (i.e. investor welfare).
Findings
South African investor teams are susceptible to the disposition effect, and their susceptibility to the bias is associated with attenuated investor welfare. Furthermore, low female representation in an investor team causally intensifies the disposition effect, subsequently leading to a causal reduction in investor welfare.
Originality/value
Using evidence from real-world observation, the authors contribute to the literature on team gender diversity and investment decision-making, and – using Hofstede's (2001) cultural dimensions – the authors offer a comprehensive account for how differences in culture may lead to differences in gender-related disposition effects across different nationalities. The authors also introduce to the literature experimental evidence from the field that clearly demonstrates that – among South African investor teams – a causal relationship exists (1) between female representation and the disposition effect, and (2) between the disposition effect and investor welfare.
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Arunpreet Singh Suali, Jagjit Singh Srai and Naoum Tsolakis
Operational risks can cause considerable, atypical disturbances and impact food supply chain (SC) resilience. Indicatively, the COVID-19 pandemic caused significant disruptions in…
Abstract
Purpose
Operational risks can cause considerable, atypical disturbances and impact food supply chain (SC) resilience. Indicatively, the COVID-19 pandemic caused significant disruptions in the UK food services as nationwide stockouts led to unprecedented discrepancies between retail and home-delivery supply capacity and demand. To this effect, this study aims to examine the emergence of digital platforms as an innovative instrument for food SC resilience in severe market disruptions.
Design/methodology/approach
An interpretive multiple case-study approach was used to unravel how different generations of e-commerce food service providers, i.e. established and emergent, responded to the need for more resilient operations during the COVID-19 pandemic.
Findings
SC disruption management for high-impact low-frequency events requires analysing four research elements: platformisation, structural variety, process flexibility and system resource efficiency. Established e-commerce food operators use partner onboarding and local waste valorisation to enhance resilience. Instead, emergent e-commerce food providers leverage localised rapid upscaling and product personalisation.
Practical implications
Digital food platforms offer a highly customisable, multisided digital marketplace wherein platform members may aggregate product offerings and customers, thus sharing value throughout the network. Platform-induced disintermediation allows bidirectional flows of data and information among SC partners, ensuring compliance and safety in the food retail sector.
Originality/value
The study contributes to the SC configuration and resilience literature by investigating the interrelationship among platformisation, structural variety, process flexibility and system resource efficiency for safe and resilient food provision within exogenously disrupted environments.
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In 2022, US financial regulators proposed to mandate a single central clearing mechanism for treasury bonds and repo transactions to stabilize financial markets. The systemic…
Abstract
In 2022, US financial regulators proposed to mandate a single central clearing mechanism for treasury bonds and repo transactions to stabilize financial markets. The systemic risks inherent in repo markets were first highlighted by the global financial crisis and, as a response, global financial authorities such as the Financial Stability Board (FSB) and Bank for International Settlements (BIS) have advocated for the introduction of a central counterparty (CCP). This study examines the structural characteristics of Korean repo markets and proposes the introduction of CCPs as a way to mitigate systemic risk. To this end, the author analyzes the structural differences between US and European repo markets and estimates the potential consequences of introducing CCP clearing in local repo markets. In general, CCPs offer two benefits: they can reduce required capital through netting in multilateral transactions, and they can mitigate the effects of risk transfer by isolating counterparty risk during periods of turbulence. In Korea, the latter effect is expected to play a pivotal role in mitigating potential risks.
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This study examines the relation between the presence of analysts’ long-term growth (LTG) forecasts and the post-earnings-announcement drift (PEAD).
Abstract
Purpose
This study examines the relation between the presence of analysts’ long-term growth (LTG) forecasts and the post-earnings-announcement drift (PEAD).
Design/methodology/approach
Using a sample of firm-quarters from 1995 to 2013, the author conducts various regression analyses.
Findings
The author finds that the magnitude of PEAD is significantly smaller for firms with LTG forecasts. The relationship holds after controlling for a wide range of explanatory variables for PEAD returns or for the presence of LTG forecasts. The author further investigates three nonexclusive hypotheses to explain this relationship. First, LTG forecasts may convey incremental value-relevant information that facilitates investors’ processing of short-term earnings information. Second, the presence of LTG forecasts may indicate superiority in analysts’ short-term forecast ability and identify firms with more efficient short-term forecasts. Third, the presence of LTG forecasts may be associated with cross-sectional differences in the persistence of earnings surprises. The author finds that none of these fully accounts for the negative relationship between the presence of LTG forecasts and PEAD returns. Instead, the relationship may be a result of the presence of LTG forecasts capturing some unobservable firm characteristics beyond those identified in prior studies.
Originality/value
This study contributes to the PEAD literature by identifying a novel analyst-based predictor of the cross-sectional variation in PEAD returns.
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Guido Migliaccio and Andrea De Palma
This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real…
Abstract
Purpose
This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real estate companies divided into the three macro-regions: North, Centre and South, in the period 2011–2020. In this way, it is also possible to verify the responsiveness to the 2020 pandemic crisis.
Design/methodology/approach
The analysis uses descriptive statistics tools and the ANOVA method of analysis of variance, supplemented by the Tukey–Kramer test, to identify significant differences between the three Italian macro-regions.
Findings
The study shows the increase in profitability after the 2008 crisis, despite its reverberation in the years 2012–2013. The financial structure of companies improved almost everywhere. The pandemic had modest effects on performance.
Research limitations/implications
In the future, other indices should be considered to gain a more comprehensive view. This is a quantitative study based on financial statements data that neglects other important economic and social factors.
Practical implications
Public policies could use this study for better interventions to support the sector. In addition, internal management can compare their company's performance with the industry average to identify possible improvements.
Social implications
The research analyses an economic field that employs a large number of people, especially when considering the construction and real estate services covered by this analysis.
Originality/value
The study contributes to the literature by providing a quantitative analysis of industry dynamics, with comparative information that can be deduced from financial statements over the years.
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This study aims to explore the relationship between chief executive officer (CEO) power and stock price crash risk in India. Furthermore, it seeks to analyse how insider trades…
Abstract
Purpose
This study aims to explore the relationship between chief executive officer (CEO) power and stock price crash risk in India. Furthermore, it seeks to analyse how insider trades may moderate the impact of CEO power on stock price crash risk.
Design/methodology/approach
A study of 236 companies from the S&P BSE 500 Index (2014–2023) have been analysed through pooled ordinary least square (OLS) regression in the baseline analysis. To enhance the results' reliability, robustness checks include alternative methodologies, such as panel data regression with fixed-effects, binary logistic regression and Bayesian regression. Additional control variables and alternative crash risk measure have also been utilised. To address potential endogeneity, instrumental variable techniques such as two-stage least squares (IV-2SLS) and difference-in-difference (DiD) methodologies are utilised.
Findings
Stakeholder theory is supported by results revealing that CEO power proxies like CEO duality, status and directorship reduce one-year ahead stock price crash risk and vice versa. Insider trades are found to moderate the link between select dimensions of CEO power and stock price crash risk. These findings persist after addressing potential endogeneity concerns, and the results remain consistent across alternative methodologies and variable inclusions.
Originality/value
This study significantly advances research on stock price crash risk, especially in emerging economies like India. The implications of these findings are crucial for investors aiming to mitigate crash risk, for corporations seeking enhanced governance measures and for policymakers considering the economic and welfare consequences associated with this phenomenon.
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Stutee Mohanty, B.C.M. Patnaik, Ipseeta Satpathy and Suresh Kumar Sahoo
This paper aims to identify, examine, and present an empirical research design of behavioral finance of potential investors during Covid-19.
Abstract
Purpose
This paper aims to identify, examine, and present an empirical research design of behavioral finance of potential investors during Covid-19.
Design/methodology/approach
A well-structured questionnaire was designed; a survey was conducted among potential investors using convenience sampling, and 200 valid responses were collected. The research work uses multiple regression and discriminant function analysis to evaluate the influence of cognitive factors on the financial decision-making of investors.
Findings
Recency and familiarity bias are proven to have the highest significant impact on the financial decisions of investors followed by confirmation bias. Overconfidence bias had a negligible effect on the decision-making process of the respondents and found insignificant.
Research limitations/implications
Covid-19 is a temporary phase that may lead to changes in financial behavior and investors’ decisions in the near future.
Practical implications
The paper will help academicians, scholars, analysts, practitioners, policymakers and firms dealing with capital markets to execute their job responsibilities with respect to the cognitive bias in terms of taking financial decisions.
Originality/value
The present investigation attempts to fill the gap in the literature on the intended topic because it is evident from literature on the chosen subject that no study has been undertaken to evaluate the impact of cognitive biases on financial behavior of investors during Covid-19.
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Giuseppe Russo, Alberto Manzari, Benedetta Cuozzo, Alessandra Lardo and Francesca Vicentini
This study aims to investigate the impact of technologies on the knowledge transfer process. In particular, the authors aim to analyze the topic of knowledge brokers and the…
Abstract
Purpose
This study aims to investigate the impact of technologies on the knowledge transfer process. In particular, the authors aim to analyze the topic of knowledge brokers and the relationship between broker and digital tools in the knowledge transfer process in the sport context. The study developed, therefore, aims to investigate the creating of this environment for knowledge transfer and knowledge sharing between man and machine, looking to improve the planning of technical sports projects of the clubs.
Design/methodology/approach
This paper presents a qualitative approach aimed at analyzing how platforms and the players’ agents can be useful tools in the knowledge transfer process. The research was conducted through a survey with a structured questionnaire via e-mail to 64 managers at the head of clubs playing in the Italian Series B basketball in the 2021–2022 championship. The total number of questions administered is 21.
Findings
The results demonstrate how sports directors, for the construction of a technical sports project, in addition to learning off the pitch by interactions with media, fans, pressure management, leadership skills, positive attitude, tolerance, understanding of other opinions, background and cultures, see the athletes’ agents as the main stakeholder of the managers. The research resulted, by the clubs’ managers, in both formal learning and informal-type learning. Informal learning, by far the most frequently used and most important in the general learning process of executives, is identified in the use that executives make of information available on digital platforms and of the fiduciary relationships that management has with players’ agents.
Originality/value
The results demonstrate the valuable opportunities for executives, coaches, managers and clubs to strategically manage learning and knowledge sharing. Improving and managing knowledge-sharing strategies would help increase knowledge, not only of the sports directors but also of the entire club, thus improving the absolute quality of the game within the Italian basketball divisions. The authors have developed an innovative framework regarding the construction of a “typed sports technical project”, and the authors have identified a series of crucial phases capable of determining the creation of a new roster of athletes.
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