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Article
Publication date: 26 March 2024

Olasunkanmi James Kehinde, Jeff Walls, Amanda Mayeaux and Allison Comeaux

The purpose of this study is to propose and explore a conceptualization of decisional capital that is suitable for early career teachers.

Abstract

Purpose

The purpose of this study is to propose and explore a conceptualization of decisional capital that is suitable for early career teachers.

Design/methodology/approach

This study uses exploratory factor analysis on a sample of early career teachers to examine a literature-derived conceptualization of decisional capital.

Findings

The factors that emerged support the literature-derived conceptualization. A subsequent confirmatory factor analysis on a second sample of early career teachers offers additional evidence for the proposed conceptualization. An exploration of the underlying factor structure comparing results across four competing models (i.e. unidimensional, correlated factors, second order, and bifactor) suggests that a second order factor explains the variance across the three proposed factors well. We conclude that this second order factor is decisional capital.

Originality/value

This is the first study that examines the discrete elements of decisional capital. Understanding these discrete elements is an avenue for investigation into the development of decisional capital beyond the acknowledgment that it takes time to develop.

Details

Journal of Professional Capital and Community, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2056-9548

Keywords

Article
Publication date: 29 December 2023

Ajay Bhootra

Investors are inattentive to continuous information as opposed to discrete information, resulting in underreaction to continuous information. This paper aims to examine if the…

Abstract

Purpose

Investors are inattentive to continuous information as opposed to discrete information, resulting in underreaction to continuous information. This paper aims to examine if the well-documented return predictability of the strategies based on the ratio of short-term to long-term moving averages can be enhanced by conditioning on information discreteness. Anchoring bias has been the popular explanation for the source of underreaction in the context of moving averages-based strategies. This paper proposes and studies another possible source based on investor inattention that can potentially result in superior performance of these strategies.

Design/methodology/approach

The paper uses portfolio sorting as well as Fama-MacBeth cross-sectional regressions. For examining the role of information discreteness in the return predictability of the moving average ratio, the sample stocks are double-sorted based on the moving average ratio and information discreteness measure. The returns to these portfolios are computed using standard approaches in the literature. The regression approach controls for various well-known return predictors.

Findings

This study finds that the equally-weighted monthly returns to the long-short moving average ratio quintile portfolios increase monotonically from 0.54% for the discrete information portfolio to 1.37% for the continuous information portfolio over the 3-month holding period. This study observes a similar pattern in risk-adjusted returns, value-weighted portfolios, non-January returns, large and small stocks, for alternative holding periods and the ratio of 50-day to 200-day moving average. The results are robust to control for well-known return predictors in cross-sectional regressions.

Research limitations/implications

To the best of the authors’ knowledge, this is the first paper to document the significant role of investor inattention to continuous information in the return predictability of strategies based on the moving average ratios. There are many underreaction anomalies that have been reported in the literature, and the paper's results can be extended to those anomalies in subsequent research.

Practical implications

The findings of this paper have important practical implications. Strategies based on moving averages are an extremely popular component of a technical analyst's toolkit. Their profitability has been well-documented in the prior literature that attributes the performance to investors' anchoring bias. This paper offers a readily implementable approach to enhancing the performance of these strategies by conditioning on a straightforward measure of information discreteness. In doing so, this study extends the literature on the role of investor inattention to continuous information in anomaly profits.

Originality/value

While there is considerable literature on technical analysis, and especially on the performance of moving averages-based strategies, the novelty of this paper is the analysis of the role of information discreteness in strategy performance. Not only does the paper document robust evidence, but the findings suggest that the investor’s inattention to continuous information is a more dominant source of underreaction compared to anchoring. This is an important result, given that anchoring has so far been considered the source of return predictability in the literature.

Details

Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0307-4358

Keywords

Open Access
Article
Publication date: 15 March 2024

Mohammadreza Tavakoli Baghdadabad

We propose a risk factor for idiosyncratic entropy and explore the relationship between this factor and expected stock returns.

Abstract

Purpose

We propose a risk factor for idiosyncratic entropy and explore the relationship between this factor and expected stock returns.

Design/methodology/approach

We estimate a cross-sectional model of expected entropy that uses several common risk factors to predict idiosyncratic entropy.

Findings

We find a negative relationship between expected idiosyncratic entropy and returns. Specifically, the Carhart alpha of a low expected entropy portfolio exceeds the alpha of a high expected entropy portfolio by −2.37% per month. We also find a negative and significant price of expected idiosyncratic entropy risk using the Fama-MacBeth cross-sectional regressions. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.

Originality/value

We propose a risk factor of idiosyncratic entropy and explore the relationship between this factor and expected stock returns. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.

Details

China Accounting and Finance Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1029-807X

Keywords

Article
Publication date: 20 February 2023

Limin Guo, Jinlian Luo and Ken Cheng

Integrating appraisal theories of discrete emotions with the emotion regulation literature, this study aims to explore the relationships between exploitative leadership and…

Abstract

Purpose

Integrating appraisal theories of discrete emotions with the emotion regulation literature, this study aims to explore the relationships between exploitative leadership and certain types of counterproductive workplace behavior (CWB). Besides, this study seeks to examine the mediating roles of discrete emotions (i.e. anger and fear) and the moderating role of cognitive reappraisal within the proposed relationships.

Design/methodology/approach

Based on time-lagged survey data from 440 Chinese employees, this study conducted hierarchical regression analysis and bootstrapping approach to test the hypotheses.

Findings

The results revealed that exploitative leadership was positively related to approach-oriented CWB and avoidance-oriented CWB. In addition, this study found that anger mediated the relationship between exploitative leadership and approach-oriented CWB, whereas fear mediated the relationship between exploitative leadership and avoidance-oriented CWB. Further, cognitive reappraisal buffered the positive effects of exploitative leadership on anger and fear and the indirect effects of exploitative leadership on approach-oriented CWB (via anger) and avoidance-oriented CWB (via fear).

Practical implications

Managers should reduce leaders' exploitation and enhance employees' skills on emotional management and cognitive reappraisal.

Originality/value

First, by verifying the effects of exploitative leadership on both approach-oriented and avoidance-oriented CWB, this study adds to the literature on exploitive leadership and provides a more complete understating of the relationship between exploitative leadership and workplace deviance. Second, this study enriches the understanding of the process through which exploitative leadership affects employees by demonstrating the novel mediating roles of discrete emotions (i.e. anger and fear) through the lens of appraisal theories of discrete emotions. Third, by verifying the moderating role of cognitive reappraisal, this study provides insights into the boundary conditions of the influences of exploitive leadership.

Article
Publication date: 16 September 2022

Ali Mohammad Mirzaee, Towhid Pourrostam, Javad Majrouhi Sardroud, M. Reza Hosseini, Payam Rahnamayiezekavat and David Edwards

Public–private partnerships (PPPs) are notoriously prone to disputes among stakeholders, some of which may unduly jeopardize contract performance. Contract disputes arising in…

Abstract

Purpose

Public–private partnerships (PPPs) are notoriously prone to disputes among stakeholders, some of which may unduly jeopardize contract performance. Contract disputes arising in Iran are often due to inefficiency of PPP concession agreements and practice. This study presents a causal-predictive model of the root causes and preventive measures for inter-organization disputes to enhance the likelihood of achieving desirable performance in PPP projects.

Design/methodology/approach

A theoretical “causal-predictive” model was developed with fourteen hypotheses based on extant literature and contractual agency theory, which resulted in the creation of a pool of 110 published items. Data were obtained from a questionnaire survey with 75 valid responses, completed by 4 stratified groups of Iranian PPP experts. Partial least square structural equation modeling (PLS-SEM) was used for validating the proposed model via a case study.

Findings

Results reveal that the main three factors of PPP desirable performance are as follows: on-time project completion, high quality of activities/products and services for public satisfaction. Further, the most influential factors of the lifecycle problems, construction stage, and preferred risk allocation included risk misallocation, improper payment mechanism and failure to facilitate a timely approval process.

Originality/value

For researchers, the findings contribute to the theory of contractual agency; specifically, how different influences among the model's elements lead to better PPP performance. In practical terms, proposed outcome-based strategies will inform PPP stakeholders to avoid dispute occurrence and thus improve the time, quality and services of projects.

Details

Engineering, Construction and Architectural Management, vol. 31 no. 1
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 20 February 2024

Luke Butcher and Mark Bryant

Traditional sports have seen declining participation at many levels, with football being no different. This is occurring at a time when emergent technologies present new…

Abstract

Purpose

Traditional sports have seen declining participation at many levels, with football being no different. This is occurring at a time when emergent technologies present new challenges, particularly to the crucial yet ignored cohort of millennials. Without meeting the needs of millennials, football cannot be successful in the future. This research seeks to understand how millennial football fandom (sport, not team) in Australia impacts football participation, whilst empirically examining the impact of football video games (FVGs).

Design/methodology/approach

Survey data are collected from online groups, forums and social media pages of Australian football (soccer) fans. Quantitative analysis of millennial fandom and its influence on football participation (for the first time demarcated into play and engagement) is undertaken, including the moderating influence of time spent playing FVGs, amidst covariate influences of age and number of children.

Findings

Results highlight the multi-dimensionality of millennial football fandom in Australia, reveal the typical hours spent playing football across a range of participation types (including play and engagement), support fan involvement’s influence on engagement with football, establish that a desire to interact with other football fans manifests in playing more football, specify how playing FVGs moderates these relationships, supports the covariate influences of age and evidences that playing FVGs does not hamper football play.

Originality/value

This is the first study to examine millennial fans of football (the sport, not tied to a club) and the influence of fandom on football participation. By separating football participation into two forms, play and engagement, we highlight discrete influences, whilst evaluating for the first time the moderating influence of the time millennials spend playing FVGs. For sport managers and administrators, these are important findings to facilitate better segmentation, recruitment, retention and participation, each with broader societal health benefits. This is undertaken in Australia where football is not a dominant code, relegating fandom to a niche, thus revealing important findings for sports and business management.

Details

Sport, Business and Management: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2042-678X

Keywords

Article
Publication date: 16 October 2023

Junesoo Lee and Jeongyoon Lee

This article aims to explore (1) specific frames of dyadic relationship in policy network beyond a simplistic dichotomy of “friend or foe” and (2) the multi-dimensional drivers…

Abstract

Purpose

This article aims to explore (1) specific frames of dyadic relationship in policy network beyond a simplistic dichotomy of “friend or foe” and (2) the multi-dimensional drivers behind the framing patterns.

Design/methodology/approach

To that end, the interviews with the key actors in a nuclear energy policy network in South Korea were conducted, and their relationships in terms of three dimensions were analyzed: belief accordance, communication frequency and resource symmetry.

Findings

As a result, 12 relationships that can occur in the policy networks were identified: helping, collaborating, cooperating, unconcerned, stabilizing, observing, pushing, confronting, challenging, ignoring, watching and avoiding. These 12 frames were observed in various in-/congruent patterns between network actors.

Originality/value

The findings provide theoretical and practical implications on why and how the network actors may assess one another through the 12 discrete frames, which are drawn from the three dimensional drivers of belief accordance, communication frequency and resource symmetry.

Details

International Journal of Public Sector Management, vol. 37 no. 1
Type: Research Article
ISSN: 0951-3558

Keywords

Article
Publication date: 23 January 2024

Twinkle Gulati and Saloni Pawan Diwan

This study aims to measure the absolute impact of corporate citizenship actions on the operable elements of the public image by developing an adequate and parsimonious instrument.

Abstract

Purpose

This study aims to measure the absolute impact of corporate citizenship actions on the operable elements of the public image by developing an adequate and parsimonious instrument.

Design/methodology/approach

Both qualitative and quantitative approaches are used, where initially a literature review is systematized, then related statements are created, examined and confirmed. Altogether, 296 responses have been tested at discrete points, allowing for a temporal split-up of observations, where the first 148 forms have been used for exploratory factor analysis and the remaining 148 for confirmatory factor analysis.

Findings

The results of exploratory factor analysis revealed that the proposed instrument contains 13 items under three components: corporate citizenship and public affiliation; corporate citizenship and public allegiance; and corporate citizenship and public accomplishment. Subsequently, confirmatory factor analysis findings attest to the completeness, robustness and fitness of the same.

Research limitations/implications

This experiment would serve as an inducement that would bridge the theoretical and empirical gap between corporate citizenship and public image by imparting an extensive perspective.

Originality/value

Perhaps on account of the lack of an inclusive instrument, the holistic view of corporate citizenship has secured quite less empirical attention so far, particularly from the perception of that group of stakeholders who manifest wholeness. This study, thus by making a ground-breaking methodological endeavor with the conceptually established construct of public image, would abet in shaping a new class of “wholistic”, i.e. whole and holistic corporations.

Details

Social Responsibility Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1747-1117

Keywords

Book part
Publication date: 4 April 2024

Ren-Raw Chen and Chu-Hua Kuei

Due to its high leverage nature, a bank suffers vitally from the credit risk it inherently bears. As a result, managing credit is the ultimate responsibility of a bank. In this…

Abstract

Due to its high leverage nature, a bank suffers vitally from the credit risk it inherently bears. As a result, managing credit is the ultimate responsibility of a bank. In this chapter, we examine how efficiently banks manage their credit risk via a powerful tool used widely in the decision/management science area called data envelopment analysis (DEA). Among various existing versions, our DEA is a two-stage, dynamic model that captures how each bank performs relative to its peer banks in terms of value creation and credit risk control. Using data from the largest 22 banks in the United States over the period of 1996 till 2013, we have identified leading banks such as First Bank systems and Bank of New York Mellon before and after mergers and acquisitions, respectively. With the goal of preventing financial crises such as the one that occurred in 2008, a conceptual model of credit risk reduction and management (CRR&M) is proposed in the final section of this study. Discussions on strategy formulations at both the individual bank level and the national level are provided. With the help of our two-stage DEA-based decision support systems and CRR&M-driven strategies, policy/decision-makers in a banking sector can identify improvement opportunities regarding value creation and risk mitigation. The effective tool and procedures presented in this work will help banks worldwide manage the unknown and become more resilient to potential credit crises in the 21st century.

Details

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

Keywords

Article
Publication date: 24 November 2023

Yuling Ran, Wei Bai, Lingwei Kong, Henghui Fan, Xiujuan Yang and Xuemei Li

The purpose of this paper is to develop an appropriate machine learning model for predicting soil compaction degree while also examining the contribution rates of three…

Abstract

Purpose

The purpose of this paper is to develop an appropriate machine learning model for predicting soil compaction degree while also examining the contribution rates of three influential factors: moisture content, electrical conductivity and temperature, towards the prediction of soil compaction degree.

Design/methodology/approach

Taking fine-grained soil A and B as the research object, this paper utilized the laboratory test data, including compaction parameter (moisture content), electrical parameter (electrical conductivity) and temperature, to predict soil degree of compaction based on five types of commonly used machine learning models (19 models in total). According to the prediction results, these models were preliminarily compared and further evaluated.

Findings

The Gaussian process regression model has a good effect on the prediction of degree of compaction of the two kinds of soils: the error rates of the prediction of degree of compaction for fine-grained soil A and B are within 6 and 8%, respectively. As per the order, the contribution rates manifest as: moisture content > electrical conductivity >> temperature.

Originality/value

By using moisture content, electrical conductivity, temperature to predict the compaction degree directly, the predicted value of the compaction degree can be obtained with higher accuracy and the detection efficiency of the compaction degree can be improved.

Details

Engineering Computations, vol. 41 no. 1
Type: Research Article
ISSN: 0264-4401

Keywords

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