Search results

The study assess the selection ability and market timing skills of mutual fund and unit trust managers in Ghana.

The study uses an improved survivorship bias-free dataset of yearly after-fee returns of all mutual funds and unit trusts operating in Ghana from January 2011 to December 2019, cumulating in nine years of quantitative fund data. The authors assess Mutual funds and Unit trusts that ever existed, “alive” or “dead,” over the sample period in the study. The authors construct factor loadings to enable the application of multifactor models in the analysis. The authors apply the unconditional versions of the Jensen alpha, Fama-French three-factor, and Carhart four-factor models to determine the selection ability and market timing skills of 32 mutual funds and 17 unit trusts. The authors deploy HAC-consistent robust standard errors to the OLS estimations to subdue the effect of heterogeneity and autocorrelation.

The results indicate that, on average, mutual funds and unit trust managers possess market timing skills but no selection ability. When the results are decomposed into fund types, fixed-income and balanced mutual fund managers possess selection ability and market timing skills.

To the authors' best knowledge, this study is the earliest to examine the selection ability and market timing skills of both mutual fund and unit trust managers in Sub-Saharan Africa (SSA). It is also the earliest to construct factor loadings for the Ghana stock market.

This study aims to investigate how two collaborative methods – selection and synthesis – influence knowledge convergence when people articulate a new strategic direction driving transformation within the organization.

The study is based on a longitudinal field experiment developed in four organizations involving 82 employees over a three-month process. Inspired by dynamics governing flocks as complex adaptive systems, selection and synthesis have been separately used in two sets of companies. Primary and secondary data have been largely collected and analyzed throughout the whole process.

This study describes how the two alternative methods differently influenced two kinds of knowledge convergence. While selection triggers a general and static knowledge convergence and the propagation of individual knowledge over time, synthesis fosters a local and dynamic knowledge convergence where individuals tend to propagate knowledge generated collectively.

This research offers insights into understanding the influence of alternative collaborative methods on the creation and propagation of knowledge when people are converging toward a new strategic direction. From a theoretical perspective, it contributes to complex adaptive system theory, highlighting the role of knowledge convergence and emergence through collaboration.

This research offers insights to managers who deal with the complexity of the engagement of different stakeholders during collaborative processes, offering some actionable takeaways to foster knowledge convergence by alternatively employing selection and synthesis.

This paper contributes to the management and social information processing literature emphasizing the role of knowledge convergence emerging from the complex interactions among multiple stakeholders.

This paper aims to examine the interrelation between two innovating strategies (product and process) on total factor productivity (TFP) growth and the dynamic linkages between these strategies, for Colombia. The authors first explore whether ex ante more productive firms are those that introduce innovations (the self-selection hypothesis) and if the introduction of innovations boosts TFP growth (the returns-to-innovation hypothesis). Second, the authors study the firm’s joint dynamic decision to implement process and/or product innovations. The authors use Colombian manufacturing data from the Annual Manufacturing and the Technological Development and Innovation Surveys.

This study uses a four-stage procedure. First, the authors estimate TFP using a modified version of Olley and Pakes (1996) and Levinsohn and Petrin (2003), proposed by De Loecker (2010), that implements an endogenous Markov process where past firm innovations are endogenized. This TFP would be estimated by GMM, Wooldridge (2009). Second, the authors use multivariate discrete choice models to test the self-selection hypothesis. Third, the authors explore, using multi-value treatment evaluation techniques, the life span of the impact of innovations on productivity growth (returns to innovation hypothesis). Fourth, the authors analyse the joint likelihood of implementing process and product innovations using dynamic panel data bivariate probit models.

The investigation reveals that the self-selection effect is notably more pronounced in the adoption of process innovations only, as opposed to the adoption of product innovations only or the simultaneous adoption of both process and product innovations. Moreover, our results uncover distinct temporal patterns concerning innovation returns. Specifically, process innovations yield immediate benefits, whereas implementing both product innovations only and jointly process and product innovations exhibit significant, albeit delayed, advantages. Finally, the analysis confirms the existence of dynamic interconnections between the adoption of process and product innovations.

The contribution of this work to the literature is manifold. First, the authors thoroughly investigate the relationship between the implementation of process and product innovations and productivity for Colombian manufacturing explicitly recognising that firms’ decisions of adopting product and process innovations are very likely interrelated. Therefore, the authors start exploring the self-selection and the returns to innovation hypotheses accounting for the fact that firms might implement process innovations only, product innovations only and both process and product innovations. In the analysis of the returns of innovation, the fact that firms may choose among a menu of three innovation strategies implies the use of evaluation methods for multi-value treatments. Second, the authors study the dynamic inter-linkages between the decisions to implement process and/or product innovations, that remains under studied, at least for emerging economies. Third, the estimation of TFP is performed using an endogenous Markov process, where past firms’ innovations are endogenized.

This paper aims to provide a systematic review of extant literature on supplier selection by identifying drivers of integration of Environmental Sustainability (ES) into supplier selection, with the aim of classifying them under broad categories for the development of a framework showing the interrelationships among them.

A search was ran for selected keyword themes using three powerful and rigorous search engines: Scopus, Google Scholar and Science Direct, to identify relevant articles from 12 peer-reviewed journals. These were desk reviewed through manual filtering to select drivers of integration of ES into supplier selection.

Thirty-one drivers identified from 41 relevant articles as propelling integration of ES into supplier selection were then classified into five categories: strong policy direction, high level of commitment, desire for high reputation, robust technology and availability of green products. This yielded a framework showing the interconnectedness among the drivers.

The study contributes to the body of knowledge by developing a classification of drivers of integration of ES into supplier selection. The interconnectedness brought to the fore a more subtle appreciation of the drivers of green integration, which could help expand current knowledge outside the narrow scope of isolated drivers. This study provides detailed analyses of drivers of green integration into supplier selection.

This paper provides a comprehensive review of drivers of integrating green into supplier selection, which is lacking in the body of knowledge on ES.

The purpose of this paper is to explore the impact of human resource (HR) management practices on achieving competitive advantage through studying the mediating role of employee satisfaction in the context of five-star hotels in Northern Cyprus.

To produce numeric data as well as to test the hypothesis, the researchers employed structural equation modeling and AMOS. The testing included (n=439) questionnaires. The model suggested by the authors examined the tourism sector, and in particular, five-star hotels located in Northern Cyprus.

The main research findings revealed that HR practices had a significant effect on competitive advantage. By comparison, the research findings revealed that the mediator variable had no effect on achieving competitive advantage for five-star hotels in Northern Cyprus.

This study demonstrates originality by responding to the recommendations of prior studies conducted on HR in Northern Cyprus Island. This makes a theoretical contribution to the field, since only Turkey recognizes Northern Cyprus, which makes conducting research on this country a challenge for researchers worldwide. Based on this study’s outcomes, this paper discusses its theoretical and practical implications, as well as recommendations for future research.

Managerial discourses tend to portray work-related mobility practices in a positive light, presenting mobility assignments as a place of stimulus and differentiation. A conception of mobility as an opportunity, may contrast, in specific economies and business settings, with lived personal experiences. This article reports the results of a three-year study, aimed to question how multinational companies (MNCs) located in a small and developing European economy (Portugal) are building talent pools for expatriate assignments. Interaction effects, as proposed by the job demands-resources (JD-R) theory, are considered as lens to understand the interplay of company expatriate policies, willingness profiles and psychological contracts of expatriates. By using a Portuguese sample, the study examines whether prior findings in mature economies and consolidated MNCs can be generalized to less developed international business settings.

A three-year study, encompassing 24 expatriate cases observed in five multinational firms born or located in Portugal. Two techniques of empirical data collection were used: statistical sources and documental analysis and in-depth interviews. A total of 37 interviews were conducted, both in-person and remotely, of which 13 were with company managers and representatives, and 24 with expatriates (as defined and referred like this by the companies under study).

Heterogeneous company policies, ranging from juvenile, functionalist to more dynamic and flow-based approaches, are presented as qualifying resources of willingness levels and psychological contracts of expatriates. Observed interaction effects between policies, willingness and psychological contracts, empirically mirrored in three profiles (conformist, protean and disrupted expatriates) suggest that incentive effects (emanating from company policies) and job demand-resource balance, factored as terms of social and economic trade, are non-linear and asymmetric, influencing firm propensity to succeed while using international work to support company expansion goals. As job resources, expatriate policies are presented as operating as pull or push factors: functionalist HR approaches seem to act as push factors generating more conformist or compelled willingness profiles.

Generalization of study's outcomes has limitations. Future studies are encouraged to use comparative and longitudinal research designs. Furthermore, future research should include business expatriates with entry-level positions, and increase the number of interviewees, as results can also be considered as limited by sample size.

It is suggested that further strategic work is needed to present expatriation development value, formally screen and consider willingness level as selection criteria, and enlarge the pool (from internal to external) of candidates, in peripheral economic settings such as Portugal. A shift to more dynamic and job resource-dense policies are suggested as beneficial, as pathway to optimize social and economic value from expatriation assignments and work experiences.

By putting the interplay between macro and micro-level processes into perspective, the study provides empirical evidence on how company expatriate policies have come to promote unforeseen differentiation of employee willingness and psychological contracts at the heart of MNCs. This is particularly relevant in developing economies such as Portugal, challenging the need to build talent pools for international work assignments. Empirical data illustrating company policies interactive effects with different willingness profiles and psychological contracts of expatriates is provided.

The purpose of this paper is to discuss three potential contributions from implementation science that can help clinicians and researchers to design and evaluate more effective integrated care programmes for older people with frailty.

This viewpoint paper focuses on three contributions: stakeholder engagement, using implementation science frameworks, and assessment of implementation strategies and outcomes.

Stakeholder engagement enhances the acceptability of interventions to recipients and providers and improves reach and sustainability. Implementation science frameworks assess provider, recipient and wider context factors enabling and hindering implementation, and guide selection and tailoring of appropriate implementation strategies. The assessment of implementation strategies and outcomes enables the evaluation of the effectiveness and implementation of integrated care programmes for this population.

Implementation science provides a systematic way to think about why integrated care programmes for older people with frailty are not implemented successfully. The field has an evidence base, including how to tailor implementation science strategies to the local setting, and assess implementation outcomes to provide clinicians and researchers with an understanding of how their programme is working. The authors draw out implications for policy, practice and future research.

Different models to deliver integrated care to support older people with frailty exist, but it is not known which is most effective, for which individuals and in which clinical or psychosocial circumstances. Implementation science can play a valuable role in designing and evaluating more effective integrated care programmes for this population.

Stories of employability are told in employment and educational settings, notably the selection interviews. A popular training approach guiding higher education students to construct employability stories has been the past-behaviour storytelling method. However, insufficient research exists regarding the method's effectiveness and optimisation. This study examines whether the method (1) increases the quantity and quality of interview narratives in story forms and (2) can be enhanced by image stimuli.

In a double-blind randomised control trial with repeated measures, participants submitted four weekly interview narratives. After receiving past-behaviour serious storytelling training in Week 3, they were randomly allocated to an exposure group using images and a control group using keywords as a placebo to continue producing interview narratives. The interview narratives were assessed based on the number of stories and quality ratings of narrative conformity, relevance and conciseness. Results before and after the training, and with and without the image stimuli, were analysed.

Training increased the number of stories. Training and repeated practice also increased narrative quality ratings. However, the image-based intervention was the strongest predictor of improved quality ratings (effect size 2.47 points on the observed scale of 0–10, p < 0.01, 95% CI [1.46, 3.47]).

A pre-existing ability to tell employability stories cannot be assumed. Training is necessary, and intervention is required for enhancement. Multi-sensory narrative interventions may be considered.

This study is the first known double-blind randomised control trial with repeated measures evaluating if storytelling training and image stimuli improve interview narratives.

Although employees' creativity is vital for firm innovation and overall performance, little is done to examine the potential association between creativity and employment. This paper investigates the contribution of employees' creativity, process and product innovations to firm-level employment growth.

The authors use data from World Bank Enterprise Survey and Innovation Follow-up Survey on 9503 firms covering the period 2012–2015 in 11 countries from sub-Saharan Africa and Heckman's two-stage estimation model.

This study's results indicate a positive role of creativity on firm-level employment growth. In addition, the authors find evidence for a complementary effect arising from the combination of creativity with managerial experience, staff level of education and their associated skills, in contrast, combining creativity with internal or external R&D results in a substitution effect. Interestingly, these synergy effects are pronounced for SMEs but absent for large firms.

Policy makers in developing economies of sub-Saharan Africa should stimulate company management to use free time offered to employees to be creative in the workplace as one of their key strategies to stimulate employment growth. This strategy is expected to be particularly fruitful among SMEs having some managerial experience and skilled stuff.

In contribution to innovative work practices and workforce creativity, the authors demonstrate that providing employees with free time could be an alternative way to enhance the focal firms' performance.

The purpose of this paper is to explore the actual walking distance to public transport (PuT) stations and to report passenger perceptions on route choice.

A systematic case study has been conducted after administrating a tailor-made paper-based intercept survey in a German city (Munich). It can determine the interrelation between the accessibility of the transit service and evaluation on walking distance acceptance. Statistical analysis and geo-spatial approach were completed for obtaining major findings.

Statistical and geo-spatial analysis shows that respondents living in low-density areas walk longer than residents living in nearby inner city areas. In terms of PuT modes, residents walk longer for suburban train and subway/metro (U-Bahn) than for bus/tram services. Transit users accept a longer walking distance to reach a train station than other PuT modes and they choose the most direct and quickest route to reach PuT stations.

Findings of this study would help to formulate future strategies and standards for the sustainable planning of public transportation systems in the context of Munich and many other cities around the globe with similar conditions. However, future research should be conducted using a large-scale survey for evaluating the comprehensive picture of walking patterns to PuT stations. Accessibility to PuT stations can also be modeled and evaluated by adopting open data and voluntary social media information. Unfortunately, this study only presents a partial evaluation of walking focused on accessibility at selected PuT stations in different settings of the urban fabric.

This empirical study can be considered as an initial finding in the favor of the city transport authority to provide a design scale for improved accessibility of transit users; however, further investigation should be conducted using a large-scale survey for evaluating the comprehensive walking patterns.

A systematic case study has been conducted after administrating a tailor-made paper-based intercept survey in a German city (Munich). Findings of this study would help to formulate future strategies and standard for the sustainable planning of the public transportation system in the context of Munich and many other cities in the globe with similar conditions.