Search results

This paper jointly examines how firm size and idiosyncratic risk impact momentum returns.

Using regression analysis, the authors investigate how firm size and idiosyncratic risk impact price momentum. The authors review firm price data in 25 country markets in the Thomson Financial Datastream database from 1979 to 2009.

This study’s findings suggest price momentum is more significant among stocks with smaller size and higher idiosyncratic risk. The authors find that winner and loser portfolios have significantly smaller size and higher idiosyncratic risk than portfolios in the middle quintiles.

This study’s results are consistent with the notion that firm size matters in price momentum and mispricing is greatest for small firms because of the greater risk potential to arbitrageurs. In addition, this finding that firms with higher idiosyncratic risk have greater price momentum supports the idea that investors underreact to firm-specific information.

This work finds evidence that investors underreact to firm-specific information. As such, these findings are of particular interest for investors looking to exploit opportunities for abnormal returns through price momentum trading.

This paper jointly examines the effects of firm size and idiosyncratic risk on momentum returns. This investigation considers these effects in the global markets. This work adds to the research base by illustrating that both winner and loser portfolios have significantly smaller size and higher idiosyncratic risk than portfolios in the middle quintiles. Also unique to this study, the authors capture the time-variation of expected IdioRisk and the asymmetric effects of volatility by using an exponential general autoregressive conditional heteroskedastic (EGARCH) model to calculate conditional idiosyncratic risk.

This study analyzed the experiences of elementary teachers who engaged in archival research with primary sources, then used their new knowledge and materials to create elementary curriculum. The teachers located and identified primary source material then determined its reliability. They placed the source and its author in the correct historical context and evaluated perspectives and biases. By engaging in this process, teachers developed a greater understanding of primary sources, a key component of historical thinking, advancing their subject content and pedagogical knowledge. The teachers developed lessons centered on primary sources rather than using them in a more superficial manner. They came to view primary sources as tools to: develop historical empathy, advance the teaching of multiple perspectives, and construct meaning. Further, they developed meaningful lessons that not only motivate their students, but also enhance their students’ higher order thinking skills and ability to conduct historical research.

This chapter reviews research on multi-level organizational justice. The first half of the chapter provides the historical context for this issue, discusses organizational-level antecedents to individual-level justice perceptions (i.e., culture and organizational structure), and then focuses on the study of justice climate. A summary model depicts the justice climate findings to date and gives recommendations for future research. The second half of the chapter discusses the process of justice climate emergence. Pulling from classical bottom-up and top-down climate emergence models as well as contemporary justice theory, it outlines a theoretical model whereby individual differences and environmental characteristics interact to influence justice judgments. Through a process of information sharing, shared and unique experiences, and interactions among group members, a justice climate emerges. The chapter concludes by presenting ideas about how such a process might be empirically modeled.

The purpose of this paper is to describe a project involving information and communication technology (ICT) students in Australia and Singapore, working together as a virtual global team. The authors investigated the question: Can differences be found in the behaviours and attitudes of our two cohorts to working in teams? This would allow the authors to better manage the project and reflect on its success/failure.

The authors ran a one semester cross‐cultural software development project. An anonymous online survey measured three temporal dimensions commonly used in time‐at‐work studies and seven cultural dimensions. The results are discussed in the context of cohort behaviours, project outcomes/outputs and related literature.

Differences were found along the temporal dimensions of punctuality, time boundaries and awareness of time use. While conformance with national cultural stereotypes was evident, only selected statements in the cultural dimensions showed significant differences. Some gender differences were also identified.

Generalizability beyond the domain of ICT students would need further investigation. Though larger numbers would strengthen the paper's claims, some statistically significant results show differences between Australian and Singaporean cohorts requiring further investigation.

Education providers should carefully design, implement and monitor cross‐cultural learning opportunities to prepare graduates to work in global teams.

The project provided rare cross‐cultural and virtual team experience and revealed that providing this experience is likely to be effort intensive for all parties, involve higher project and people risks but potentially deliver greater (life‐long) learning gains.

This paper explores the emergence and coordination of synchrony in networked groups like those that develop integrated product platforms in collaborative ecosystems. While synchronized actions are an important objective for many groups, interorganizational network theory has yet to explore synchrony in depth perhaps because it does not fit the typical diffusion models this research relies upon. By adding organizationally realistic features – sparse network structure and intentional coordination – to the firefly model from theoretical biology, I take some first steps in understanding synchrony in organizational groups. Like diffusion, synchrony is more effective in denser networks, but unlike diffusion clustering decelerates synchrony’s emergence. Coordination by a few group members accelerates group-wide synchrony, and benefits the coordinating organizations with a higher likelihood that it converges to the coordinating organization’s preferred rhythm. This likelihood of convergence to an organization’s preferred rhythm – what I term synchrony performance – increases in denser networks, but is not dependent on tie strength and clustering.

Leaders are important social actors in organizations, centrally involved in establishing and maintaining institutional values, a view that was articulated by Philip Selznick (1957) nearly a half-century ago, but often overlooked in institutionalists’ accounts. Our objective is to build on Selznick’s seminal work to investigate the value proposition of leadership consistent with institutional theory. We examine public interview transcripts from 52 senior executives and discover that leaders’ conceptualizations of their entities align with the archetypes of organization (i.e., economic, hierarchical, and power oriented) and institution (i.e., ideological, creative and collectivist) and cohere around a set of relevant values. Extrapolating from this, we advance a theoretical framework of the process whereby leaders’ claims function as transformational mechanisms of value infusion in the institutionalization of organizations.

In the context of early detection of frail older people, prior research found several risk factors of multidimensional frailty. The current study aims to validate these risk factors.

Two data sets, Belgian Ageing Studies and Detection, Support and Care for older people: Prevention and Empowerment (BAS and D-SCOPE), in three Belgian municipalities (Ghent, Knokke-Heist and Thienen) were used and compared. The BAS data set (N = 1496) is a representative sample of community-dwelling older adults (60+), while the recruitment of the D-SCOPE sample (validation sample, N = 869) is based on risk factors (e.g. age, marital status, moved in the past 10 years). Frailty was measured with the comprehensive frailty assessment instrument (CFAI). The validity was examined by means of prevalence rates, distribution and the odds rates within both data sets.

The validation sample had an increase in the percentage of elderly who were mildly and highly frail for physical frailty (men: +17.0 percent point, women: +20.7 percent point), for psychological frailty (men: +13.4 percent point, women: +13.7 percent point), for social frailty (men: +24.8 percent point, women: +4.8 percent point) and environmental frailty (men: +24.2 percent point, women: +6.8 percent point). The present results indicate that the risk of being mildly or highly frail was higher in the validation sample in comparison with the BAS data.

The present study proved the validity of aforementioned risk factors. Selecting older people based on these risk factors proved to be an effective strategy for detecting frail older people.