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Book part
Publication date: 4 April 2024

Haoyu Gao, Ruixiang Jiang, Junbo Wang and Xiaoguang Yang

This chapter investigates the cost of public debt for firms using a comprehensive sample consisting of 17,368 industrial bond issues from 1970 to 2011. The empirical evidence…

Abstract

This chapter investigates the cost of public debt for firms using a comprehensive sample consisting of 17,368 industrial bond issues from 1970 to 2011. The empirical evidence shows that yield spreads for seasoned bond issues are significantly lower than those for initial bond issues. This seasoning effect is robust across different sample periods, subsamples, and model specifications. On average, the yield spreads for seasoned bond issues are around 50 bps lower than those for initial bond issues. This difference cannot be explained by other bond and firm characteristics. The seasoning effect is more pronounced for firms with higher levels of uncertainty, lower information disclosure quality, and longer time intervals between the first and subsequent issues. Our empirical findings provide supportive evidence for the extant theories that aim to rationalize the information role in determining the cost of capital.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-83753-865-2

Keywords

Article
Publication date: 14 February 2024

Sania Arif and Sidrah Al Hassan

Employees of Pakistani public sector organizations feel thwarted toward their goal attainment because of strict adherence to rules and regulations and tall hierarchies existing in…

Abstract

Purpose

Employees of Pakistani public sector organizations feel thwarted toward their goal attainment because of strict adherence to rules and regulations and tall hierarchies existing in this region. Therefore, keeping in view the harmful effects of perceived organizational obstruction, the aim of the current study was to investigate the perceived organizational obstruction as an attribution that triggers job neglect through perceived organizational frustration. Harvey’s expanded attribution-emotion model of workplace aggression and an attributional perspective on workplace aggression provide the theoretical justification. Moreover, the moderating role of self-control was proposed to mitigate the indirect effect of organizational obstruction on job neglect through perceived organizational frustration.

Design/methodology/approach

A three-wave data collection was done by using a close-ended questionnaire distributed to a total of 600 administrative employees of public sector organizations operating in Rawalpindi/Islamabad (Pakistan). However, matching three times and discarding the incomplete questionnaires led to a sample of 375 on which the analysis was done.

Findings

Perceived organizational obstruction positively predicted job neglect. Likewise, organizational frustration mediated the aforementioned link. Moreover, the higher level of self-control weakens this underlying process by suppressing job neglect behavior.

Originality/value

The current study added to the limited literature on public sector organizations that has taken perceived organizational obstruction as a predictor variable. Moreover, this study explains how this phenomenon translates into non-hostile behavior that is difficult to identify and punish in public sector organizations. Moreover, the trait of self-control is added to the literature of non-hostile behaviors that dampen the impulsivity to indulge in job neglect.

Article
Publication date: 19 December 2023

Mohammad Zarei, Magne Supphellen and Richard P. Bagozzi

The purpose is to use co-citation analysis of servant leadership (SL) research to investigate the evolution of the field, its subfields, gaps and opportunities for future research…

Abstract

Purpose

The purpose is to use co-citation analysis of servant leadership (SL) research to investigate the evolution of the field, its subfields, gaps and opportunities for future research in a systematic manner.

Design/methodology/approach

A document co-citation technique and three clustering algorithms (latent semantic index (LSI), the log-likelihood ratio (LLR) and the mutual information (MI) index) were employed to analyse 24,030 references from 549 articles spanning a period of 50 years.

Findings

Cluster analyses reveal that SL research consists of eight distinct subfields: (1) conceptualisation and measurement of SL; (2) SL and related theories; (3) methodological foundations and empirical expansion of SL research; (4) individual-level cognitive effects of SL and related theories; (5) “Warmth effects” of leadership behaviour; (6) antecedents of effective leadership; (7) SL, marketing, sales management and ethics and (8) SL, job design and work engagement. Important gaps and opportunities for future research are identified.

Research limitations/implications

The analyses do not show a complete picture of research on SL. Interesting works used by subgroups of SL researchers may not have enough citations to be included in the results. Moreover, bibliometric analyses do not explain the impact of books, journals and articles on the practice of SL. The authors welcome future analyses of the most influential sources of SL practice. The authors expect that managerial and practice-oriented books and journals, such as the International Journal of Servant Leadership and the Servant Leadership Theory and Practice, would play a central role in such analyses.

Practical implications

The discussions of the nature of SL, its effects and antecedents are useful to leaders who want to develop a SL style or assist others in developing it. For researchers and doctoral students, the cluster analyses of co-citations give an overview of the subfields of SL research and reveal important knowledge gaps in the literature.

Social implications

SL has several favourable effects on the motivation and psychological well-being of followers. Also, followers tend to adopt a willingness to serve.

Originality/value

Previous research has categorised SL research into three broad categories or phases. The cluster analyses of the co-citations reported here reveal a meaningful structure of eight distinct subfields. Knowledge gaps within the subfields represent novel opportunities for future research on SL. The authors also suggest a new subfield of SL research: pedagogical approaches to the motivation and development of SL skills.

Details

Leadership & Organization Development Journal, vol. 45 no. 2
Type: Research Article
ISSN: 0143-7739

Keywords

Article
Publication date: 11 May 2023

Naruanard Sarapaivanich, Erboon Ekasingh, Jomjai Sampet and Paul Patterson

This study examines how professional service firms' communication effectiveness (affiliative communications style, social dialogue and information provision), social cognitive…

Abstract

Purpose

This study examines how professional service firms' communication effectiveness (affiliative communications style, social dialogue and information provision), social cognitive capital and rapport established between an auditor and SME client are instrumental in influencing the latter's evaluation of the technical quality of an audit.

Design/methodology/approach

The study combines qualitative and quantitative methodologies to create a cross-sectional survey covering four geographic regions in an emerging economy – Thailand. The authors examine the hypotheses by employing social interaction theory.

Findings

A study of 744 SME executives plus post-survey interviews with three audit partners revealed that an affiliative communications style and information provision are positively associated with the rapport developed between financial auditor and client, and that rapport, in turn, had a strong association with client perceptions of audit quality. In addition, affiliative communication style, information provision and social cognitive capital had a direct (positive) association with perceptions of audit quality. The effects of communication effectiveness and social cognitive capital varied, depending on whether or not the SME client possessed formal accounting qualifications.

Originality/value

The study contributes to the literature on the business-to-business professional services, and accounting in particular, by explicating the important roles of communication effectiveness, rapport, and social cognitive capital in the relationship between an auditor and a client. Moreover, the paper reveals that the differences in educational background of clients result in differential impacts of communication effectiveness and social cognitive capital on rapport and perceptions of audit quality.

Details

Journal of Accounting in Emerging Economies, vol. 14 no. 2
Type: Research Article
ISSN: 2042-1168

Keywords

Article
Publication date: 20 October 2023

Patricia Virella

Narratives about racism and equity in schools have been documented in varying degrees of detail and accuracy in the news media (Farhi, 2012). Thus, race is front and center in the…

Abstract

Purpose

Narratives about racism and equity in schools have been documented in varying degrees of detail and accuracy in the news media (Farhi, 2012). Thus, race is front and center in the news reports, demonstrating how education policies are detrimental to the Island while also contending that policy drivers of Ley de Reforma Educativa de Puerto Rico (LREPR) are ignoring the racialized consequences of these neoliberal policies.

Design/methodology/approach

To examine the implementation of LREPR in education discourse in the media, a content analysis on texts in the Puerto Rican media was conducted. To conduct the analysis, an original dataset of texts from the four major newspapers in Puerto Rico: El Nuevo Dia, El Vocero, Primera Hora and The San Juan Daily Star (n = 119) was created.

Findings

The study shows how the collective resistance of Puerto Ricans towards LREPR suggests racialized consequences for this “post”-colonial Island as they engage in dialogues about property rights and dispute policy discourse. Data suggests the alarming effects of neoliberalism as perceived by Puerto Rican citizens, while highlighting shared concerns aligned with elements of critical race theory such as colorblindness and property rights.

Research limitations/implications

This study breaks ground by identifying a new intellectual pursuit of charter schools purchasing land or buildings in marginalized communities. It argues that the news coverage demonstrates how Puerto Rican citizens have illuminated the purchase of land for charter schools, viewing it as an act of colonialism veiled as market competition and economic improvement for the Island. Implications for policy and practice are discussed.

Originality/value

The findings from this research contribute to how critical race theory is used and conceptualized in the educational leadership field. Additionally, the study contributes to the field of research by conducting a content analysis of newspaper articles in Puerto Rico, looking through the CRT lens to illuminate systemic racism that is present in media accounts of education.

Details

Equality, Diversity and Inclusion: An International Journal, vol. 43 no. 3
Type: Research Article
ISSN: 2040-7149

Keywords

Article
Publication date: 1 June 2023

Lijun Lei and Yan Luo

Unlike other types of corporate disclosure, corporate political disclosure (CPD), which is the disclosure of corporate political contributions and the related governing policies…

Abstract

Purpose

Unlike other types of corporate disclosure, corporate political disclosure (CPD), which is the disclosure of corporate political contributions and the related governing policies and oversight mechanisms, does not provide completely new information to stakeholders. Some of the information disclosed in CPD is available from other public records (e.g. the Federal Election Committee website or OpenSecrets website). Given this unique feature of CPD, it is interesting to investigate the cost and benefit tradeoff for firms of altering their CPD practice in response to policy and political uncertainty.

Design/methodology/approach

This study employs recently developed indexes of aggregate economic policy uncertainty (EPU) and a novel dataset of CPD transparency to examine the impact of EPU on CPD transparency and how the proprietary cost of corporate political activities moderates this association. The sample consists of S&P 500 companies from the 2012 to 2019 period.

Findings

The authors document that firms mitigate the heightened information asymmetry associated with higher aggregate EPU by increasing CPD transparency. The positive association between EPU and CPD is less pronounced for firms that are more sensitive to EPU, for firms that more actively manage EPU through corporate political contributions or lobbying activities and for firms that are followed by more analysts. The authors also find that more transparent CPD helps to mitigate the information asymmetry caused by heightened EPU. This study’s results hold when the authors control for other types of voluntary corporate disclosure.

Originality/value

This study contributes to the emerging literature on the determinants of CPD transparency by identifying EPU's positive impact on CPD transparency. This study also provides empirical evidence that the proprietary costs arising from the controversial nature of corporate political activities dampen firms' incentives to provide transparent CPD in response to heightened EPU, and that information on corporate political activities gathered and processed by financial analysts seems to lower the marginal benefit to companies of publicizing CPD on their own website.

Details

Journal of Accounting Literature, vol. 46 no. 2
Type: Research Article
ISSN: 0737-4607

Keywords

Article
Publication date: 28 April 2023

Manju Mahipalan and Naval Garg

This paper aims to examine the relationship between workplace toxicity and psychological capital (PsyCap). It also investigates the moderating role of gratitude in the…

Abstract

Purpose

This paper aims to examine the relationship between workplace toxicity and psychological capital (PsyCap). It also investigates the moderating role of gratitude in the toxicity–PsyCap link.

Design/methodology/approach

The study is based on explorative-cum-descriptive research design. The sample comprises 411 employees engaged in banking, insurance, IT, automobile and oil and gas companies. The collected data is explored for reliability, validity, multicollinearity and common method variance estimates. Also, the relationship between workplace toxicity and PsyCap and the moderating effect of gratitude are examined using structural equation modelling.

Findings

The findings report a negative association between toxicity and PsyCap. Also, the study concludes a significant moderating effect of gratitude. The study recommends the institutionalisation of a gratitude-based organisation to reduce the impact of workplace bullying and uncivil behaviour.

Originality/value

The study is based on primary data and one of the few studies that explore psychological capital as a dependent variable, which is influenced by toxic behaviours at work.

Details

International Journal of Organizational Analysis, vol. 32 no. 3
Type: Research Article
ISSN: 1934-8835

Keywords

Article
Publication date: 5 September 2023

Mengting Su and Parisa Rungruang

This study aims to understand workplace conflict outcomes (WCO) literature and identify the research gaps by mapping its knowledge base and theoretical evolution.

Abstract

Purpose

This study aims to understand workplace conflict outcomes (WCO) literature and identify the research gaps by mapping its knowledge base and theoretical evolution.

Design/methodology/approach

This study combines bibliometric and qualitative analysis and encompasses 1,043 Scopus-indexed documents published between 1972 and 2022. The bibliometric analysis used VOSviewer, Excel and Tableau software for descriptive statistics, citation and co-citation analyses of publication patterns, authors, documents and journals. The qualitative analysis critiqued main theoretical perspectives and topical interests.

Findings

This study revealed a significant increase in literature after 2000, with authors representing 70 societies, primarily the USA, China, Australia, Canada and the Netherlands. Influential authors and their canonical articles were identified, including Jehn, De Dreu, Spector, Amason and Pelled. Highly cited articles focused on task, relationship, role and process conflict. Four main theoretical schools were categorized: conflict type paradigm, individual differences, conflict cooccurrence and conflict dynamics. Influential journals spanned psychology, management, negotiation and decision-making and business and marketing fields, including JAP, AMJ, ASQ, JM, JOB, AMR, IJCMA and OS.

Research limitations/implications

This study provides implications for future bibliometric analyses, theoretical and empirical studies, practitioners and society based on its quantitative and qualitative findings.

Originality/value

To the best of the authors’ knowledge, this study represents the first bibliometric review of WCO literature, serving as a baseline for tracking the field’s evolution and theoretical advancements.

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