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Using a large sample of diversified firms from 38 countries we investigate the influence of several national-level institutional factors or “institutional voids” on the value of corporate diversification. Specifically, we explore whether the presence of frictions in a country’s capital markets, labor markets, and product markets, affects the excess value of diversified firms. We find that the value of diversified firms relative to their single-segment peers is higher in countries with less-efficient capital and labor markets, but find no evidence that product market efficiency affects the relative value of diversification. These results provide support for the theory of internal capital markets that argues that internal capital allocation would be relatively more beneficial in the presence of frictions in the external capital markets. In addition, the results show that diversification can be beneficial in the presence of frictions in the labor market.

Long-term care (LTC) homes are highly regulated settings that provide care to people living with complex health conditions who are often at the end of their lives. Mental health and quality of life are important concepts in LTC given the inherent poor health and diminished autonomy of residents living in this setting. The COVID-19 pandemic had the potential to further compound these issues through lockdowns limiting movement within and outside of LTC homes, increased fear of severe COVID-19 infections, staff shortages, and impaired communication through personal protective equipment. However, the evidence describing the effect of the pandemic on mental health and quality of life is mixed, with some studies describing increased rates of mental health concerns and others presenting modest increases or decreases. Creative strategies to mitigate negative mental health consequences of lockdown included technology supported and window or outdoor visits, increased access to volunteers, and supports for families. However, the evidence in this area continues to evolve as subsequent waves of the pandemic progress. Future research may present new evidence about other strategies that became important in different stages of the pandemic.

To resolve an inherent dilemma in extant research on geographically dispersed research and development (R&D), this study explores interdependencies between formal and informal network structures. Firms that seek to benefit from the decentralization associated with disperse R&D must align it with an informal structure that enhances organizational members’ motivation to share and assimilate their unique knowledge and skills. On the basis of an investigation among 424 US biotechnology firms between 1973 and 2003, this study reveals the moderating effect of the firm’s informal social structure on the effect that geographically dispersed R&D personnel have on the exploration of new technological opportunities. Specifically, the higher the social network density among R&D members, the more likely geographic disparity is to affect exploration; however, this likelihood decreases with an increase in power asymmetries. These results offer insights into the conditions in which the appropriate management of geographically dispersed R&D varies.

Advances in Econometrics is a series of research annuals first published in 1982 by JAI Press. In this paper, we present a brief history of the series over its first 30 years. We describe key events in the history of the volume, and give information about the key contributors: editors, editorial board members, Advances in Econometrics Fellows, and authors who have contributed to the great success of the series.

Advances in Econometrics is a series of research volumes first published in 1982 by JAI Press. The authors present an update to the history of the Advances in Econometrics series. The initial history, published in 2012 for the 30th Anniversary Volume, describes key events in the history of the series and provides information about key authors and contributors to Advances in Econometrics. The authors update the original history and discuss significant changes that have occurred since 2012. These changes include the addition of five new Senior Co-Editors, seven new AIE Fellows, an expansion of the AIE conferences throughout the United States and abroad, and the increase in the number of citations for the series from 7,473 in 2012 to over 25,000 by 2022.

William Breit’s brilliant idea was to commission a Nobel Economists Lecture Series at Trinity University that induced recipients to write autobiographical essays on their individual evolution as an economist. This fourth edition presents eighteen such essays. Breit had two intellectual purposes in mind. One objective was to identify common themes in the laureates’ description of their development as economists. The second objective was to use the materials provided in the essays to examine the question of the role of biography in the development of modern economics as a contribution to a theory of scientific discovery.

This chapter explores genderwashing in the context of exclusive talent management (ETM) and defensive diversity management (DDM). It makes the counter intuitive argument that ETM is a misnomer in that it privileges maintenance of an organizational hierarchy based on social identity over the development of talent. Further, DDM is a genderwashing tool, enabling organizations to fend off criticism through symbolic diversity, equity, and inclusion (DEI) initiatives while enacting discourses that legitimate structures, practices, and norms that produce a status hierarchy based on social identities. A genderwashing perspective reveals this contradiction and spotlights the uncomfortable reality of workplace inequalities. It also shows that operating within boundaries set by the status quo renders DDM ineffective in removing the real career impediments faced by women and members of minoritized groups (MMG). A transformative diversity management (TDM) approach is needed to confront these realities and enable organizations to support the career aspirations of women and MMG.

In this chapter Suzanne Ross draws on her experience previously as a talent manager and now as a leadership consultant, Executive Coach and Senior Lecturer in Executive Education, and applies her research on leadership derailment to talent management. As organizations continue to invest in leadership development, research suggests up to 50 per cent of leaders derail or fail in their role. The derailment literature is, to-date, disconnected from TM although central to the definition of leadership derailment is that derailed leaders were previously successful and had potential. The chapter explores the concept of derailment, how it is defined, its scale and scope and some of the causes of derailment including a lack of organizational support during leadership transitions. The notion of the ‘accidental manager’ is used to provide an example of where literature on TM and derailment converge as a key derailer characteristic is having an overly functional orientation. This maps to the accidental manager concept and to the challenges that TM practitioners face in developing career pathways for expert/specialists beyond managerial roles. Suzanne argues that talent identification should take more account of derailment characteristics and suggests there may be gender differences in how these are perceived and in the consequences that arise when they are present. The chapter contributes to a greater understanding of how the concept of derailment can be integrated within talent management research and practice.