Search results

This research aims to investigate whether and to what extent the co-movements of cross-country business cycles, cross-country stock market cycles and cross-country real estate market cycles are linked across G7 from February 1990 to June 2014.

The empirical approaches include correlation analysis on Hodrick–Prescott (HP) cycles, HP cycle return spillovers effects using Diebold and Yilmaz’s (2012) spillover index methodology, as well as Croux et al.’s (2001) dynamic correlation and cohesion methodology.

There are fairly strong cycle-return spillover effects between the cross-country business cycles, cross-country stock market cycles and cross-country real estate market cycles. The interactions among the cross-country business cycles, cross-country stock market cycles and cross-country real estate market cycles in G7 are less positively pronounced or exhibit counter-cyclical behavior at the traditional business cycle (medium-term) frequency band when “pure” stock market cycles are considered.

The research is subject to the usual limitations concerning empirical research.

This study finds that real estate is an important factor in influencing the degree and behavior of the relationship between cross-country business cycles and cross-country stock market cycles in G7. It provides important empirical insights for portfolio investors to understand and forecast the differential benefits and pitfalls of portfolio diversification in the long-, medium- and short-cycle horizons, as well as for research studying the linkages between the real economy and financial sectors.

In adding to the existing body of knowledge concerning economic globalization and financial market interdependence, this study evaluates the linkages between business cycles, stock market cycles and public real estate market cycles cross G7 and adds to the academic real estate literature. Because public real estate market is a subset of stock market, our approach is to use an original stock market index, as well as a “pure” stock market index (with the influence of real estate market removed) to offer additional empirical insights from two key complementary perspectives.

“It should also be noted that the objective of convergence and equal distribution, including across under-performing areas, can hinder efforts to generate growth. Contrariwise, the objective of competitiveness can exacerbate regional and social inequalities, by targeting efforts on zones of excellence where projects achieve greater returns (dynamic major cities, higher levels of general education, the most advanced projects, infrastructures with the heaviest traffic, and so on). If cohesion policy and the Lisbon Strategy come into conflict, it must be borne in mind that the former, for the moment, is founded on a rather more solid legal foundation than the latter” European Commission (2005, p. 9)Adaptation of Cohesion Policy to the Enlarged Europe and the Lisbon and Gothenburg Objectives.

This study aims to investigate the dynamic co-movement and interconnection among 69 security investment indices in China using the multi-time scale framework.

The authors first use the multiple coherence analysis method to exhibit the degree of relationships among the variables under study. In addition, the wavelet multiple correlation and wavelet multiple cross-correlation analyses are used to examine the time-frequency synchronization interdependence structure among the variables.

From the empirical findings, one may infer less opportunity for portfolio diversification at higher time scales. Obviously, at these scales, the authors find that the 69 Chinese investment indices generate a simple security investment class, as indicated by higher interconnection between the indices.

Further research can increase the sample size to re-investigate the empirical relationship for security investment indices.

In the nutshell, the results demonstrate the potential for Chinese investors to invest in security investment indices to earn from portfolio diversification at lower time frequencies. The Chinese investment market indices under study yield further opportunities of portfolio diversification toward the short-term investors than the long-term investors.

To the best of the authors’ knowledge, this is the first paper to examine the dynamic co-movement and interconnection for security investment indices in China.

The purpose of this study is to conduct a meta-analytic review based on a theoretical framework developed for investigating new product development (NPD) teams in the first two decades of the research stream.

This study contributes to literature by investigating the presence of publication bias and synthesizing correlation effect sizes of 27 factors influencing three NPD team performance dimensions: overall, market-based (e.g. sales, profitability), process-based (e.g. budget adherence, schedule adherence) outcomes. Further, this study presents a path analytical model that uses the aggregate study effects to identify significant drivers of NPD team performance.

First, examination of extant literature shows no publication bias. Next, analyses show that three internal team dynamic variables have the most significant positive effect on overall NPD team performance: team member job satisfaction, cross-functional integration and superordinate identity. For market-based performance, three goal-related contextual factors exert the most positive influence, namely, goal stability, goal clarity and goal support, in respective order. Further, for process-based performance, cross-functional integration’s strong positive effect is followed by team and goal stability. Moreover, physical distance, interpersonal and task conflict have significant negative effects on NPD team performance. Finally, both market- and process-based NPD team performance are significantly influenced by NPD team’s cohesion, which acts a mediator between two contextual factors: physical distance and team tenure.

This meta-analysis contributes to literature by providing a comprehensive model of NPD team performance predictors, their definitions, along with their corresponding effects in predicting performance. While team cohesion is found to be a strong predictor of both market- and process-based performance, future research can examine if too much cohesion has a detrimental effect, especially on market-based performance.

The results assist managers in shifting their priorities to ensure optimal support of NPD teams. For example, team leadership competence externally has a larger effect on overall performance compared to team leadership for internal team dynamics. Hence, team leaders should make sure that they manage the team’s relationships with external parties (e.g. other functional units) with more caution.

This study provides a guiding framework for analyzing NPD team performance as well as identifies and then addresses many knowledge gaps on NPD team performance.

This study empirically assesses the effects of two key types of organizational and managerial capabilities—dynamic capabilities, and coordination and cohesion capabilities—on environmental performance, considering the moderating effect of family ownership. By applying the tenets of the natural resource-based view and the dynamic capabilities theory, this paper offers new insights into the topic.

The article presents empirical evidence from a survey of 1,019 firms operating in the Spanish tourism sector analyzed using multiple linear regression.

Overall, our results show that both dynamic capabilities and coordination and cohesion capabilities have direct and synergetic positive effects on environmental performance. In addition, the results confirm recent studies that report conflicting evidence on how family ownership affects environmental performance: family ownership is found to exert a distinct direct effect on environmental performance and on the development and application of the capabilities required to improve such performance.

This article sheds light on the conceptual frontiers between the different types of capabilities, as well as provides practical ways of measuring them. The article also brings evidence to bear on the debate concerning the direct and moderating effect that family ownership exerts on the relationship between both types of capabilities over environmental performance. The results of this analysis confirm the complexity of the family ownership effect on this aspect, and provide important insights for both business practitioners and academics.

本研究擬審查多頻率的及為市場成份的信息流和全球指數。

研究人員使用基於改良完全集合經驗模態分解自適應噪聲(Improved Complete Ensemble Empirical Mode Decomposition with Adaptive Noise)的聚類分析法,取得Rényi有效轉移熵,藉此得到研究結果。

我們發現、於大部份多頻率,在持續性股票和傳統股票間有顯著的負信息流動,這會增加多樣化的益處。這些信息流大部份是雙向的,這強調了股票市場成份及其全球指數在構建投資組合上的重要性。

我們認為持續性股票市場和傳統股票市場大多為異質市場,這顯示了市場的低效率,而且這低效率的程度頗大。

關於傳統股票的實證性文獻裡是充滿了變革動力的,這顯示了它們以多樣化為目的的回報行為。這使我們對關於持續性股票的回報行為、認識變得實在太少了。於此,大量的企業社會責任的新措施不斷提醒各公司、要本著企業社會責任的理念去營運;但投資者需清晰明白他們為何需在可見的將來保持可持續性。因此,他們卑微的願望是一個較好的多樣化投資組合得以形成,故此他們高度要求股票要有組成可靠投資組合的性質和能力,特別是在持續性股票和/或傳統股票當中。

Previous studies have addressed the importance of knowledge base and its effect on innovation outputs. However, few studies have focused on the antecedents of dynamic changes of the organizational knowledge base. This study aims to shed light on the antecedents of dynamic change of the organizational knowledge base by examining how network centrality in an organization's collaboration network impacts this change and the moderating role of knowledge network cohesion.

The empirical setting of this study is the smartphone collaboration network. The authors selected patent data from the Derwent Innovation Database. A negative binomial model was used to test the hypotheses.

The results verified that network centrality has a positive effect on the change in coupling among existing knowledge domains and has an inverted U-shaped relationship with the coupling between new and existing knowledge domains. Furthermore, when local cohesion is high, network centrality has a stronger positive effect on the change in coupling among existing knowledge domains. Global cohesion moderates this process in such a way that when it is at a high level, the coupling between new and existing knowledge domains can benefit more from a moderate level of network centrality.

This study sheds light on the antecedents of dynamic change of the organizational knowledge base and links the literature on collaboration and knowledge networks by providing novel insights to match collaboration network centrality with knowledge network cohesion for successful improvement of the organizational knowledge base.

Current research remains unclear on what factors contribute to cross‐functional team (CFT) success. Thus, the primary purpose of this investigation is to examine internal factors of the team (namely internal team environment, shared leadership, and cohesion) and the influence of each factor on CFT effectiveness.

Structural equation modeling is used to empirically examine the data collected from an undergraduate student sample. Teams worked competitively on a complex task requiring functional area expertise.

Results from the study indicate internal team environment influences effectiveness through shared leadership and cohesion as found in other forms of teams. However, unique to CFTs, internal team environment is not directly related to effectiveness, and shared leadership does not directly influence cohesion. The findings suggest that in CFTs, internal team environment indirectly influences effectiveness.

The findings of this study can be used to expand current models of CFT effectiveness. Additionally, by examining the internal dynamics of the team (e.g. internal team environment) researchers will be better able to account for the previous vast differences found in CFT outcomes.

Managers interested in influencing team effectiveness are encouraged to focus on the internal dynamics of CFTs. To indirectly influence team effectiveness managers should insure teams establish a clear purpose and that members support one another and feel comfortable making contributions to the team.

This investigation offers understanding of how CFTs can be structured to influence effectiveness and provides insight into previously inconsistent findings. Both researchers and managers will benefit from an enhanced understanding of how internal factors uniquely influence CFT effectiveness.

This study aims to analyze the relationship between the intrinsic characteristics of the teams that perform specialized industrial services in multi-units and dynamic capability.

This study was developed from a survey conducted in 188 multi-unit industrial service providers and data were analyzed using the structural equation modeling technique of partial least squares.

The results indicate the two constructs act differently on dynamic capability. While the infrastructural construct influences the capability of knowledge absorption, generation and adaptation, the construct related to the willingness to share and integrate knowledge has a positive impact on the capability of knowledge generation and storage.

This research is limited by the choice of only one industrial sector – in the case of this study, the service industry. Future studies will include other industries and a more diverse sample of firms.

This research analyzes the process of dynamic capability development in the context of multi-unit service provision. The context of multi-unit industrial service provision is peculiar when compared to other organizations. In the context, knowledge is absorbed, generated and adapted by individuals organized into teams that work in customer’s units. Service providers play a key role in the development of dynamic capabilities regarding knowledge storage, acting as knowledge repositories.