Search results

The purpose of this paper is to describe and compare the mean response for selected financial variables in three dividend paying groups before and after the financial crisis of 2008. Dividend initiators are expected to be rewarded by investors over traditional dividend paying firms.

Quarterly CRSP data from 2000 to 2012 are used to define dividend paying groups. Highly unbalanced financial data on dividend paying firms are analyzed in two truncated sample periods defined before and after the financial crisis. Fitted models describing differences in dividend paying groups are based on the linear mixed model representation of penalized splines with random effects to account for repeated measures over time.

Results are presented on the important differences in selected financial variables before and after the financial crisis by dividend paying pattern group (traditional, initiators, residual/catering). Special emphasis is given to the analysis of market/book value ratio. Results demonstrate dividend initiators are rewarded over traditional dividend firms by investors. Firms with an intermittent paying pattern have no advantage. All dividend paying firms grow during the 2008 financial crisis. Traditional dividend payers have larger size than other dividend payers. The size effect explains results for several of the financial variables studied.

Future work can include an industry effect on the three dividend paying groups.

Investors appear to prefer certainty as to when they receive a dividend over uncertainty, especially in times of economic downturn and economic recovery.

Enhanced awareness that different payment patterns exist and are rewarded differently over time on both the corporate issuer and investor sides.

This study adds to body of knowledge of practical dividend payment patterns around a financial crisis. It also provides added support for dividend initiators.

The purpose of this paper is to compare the relative power of operating cash flow and earnings in the prediction of dividends.

A linear mixed effects model is used in terms of selected model fit criteria.

Based on the selected model fit criteria, cash flow per share is shown to produce a better fit than earnings per share, but it cannot be said how much better.

Quarterly CRSP and Compustat data from 2000 to 2006 for 1,902 dividend‐paying firms are analyzed. Future work would need a different methodology to determine how much better cash flow is as a predictor of dividends.

Both earnings per share and cash flow per share are found to be reasonable dividend predictors.

Additional insight is provided on modeling factors that contribute to a firm's decision to engage or disengage in a dividend payment policy.

The study described in this paper continues work on predicting dividends per share. Results show cash flow per share is a better predictor than earnings per share. Investors and analysts predict dividends as part of their stock valuation work. This study suggests focusing attention on using cash flow per share as the predictor of dividends.

To reconcile the mixed findings on commitment-oriented human resource management (HRM) on employee job performance, this study tests whether commitment-oriented HRM has a threshold effect on employee job performance and when this threshold effect matters. The authors further tested the role of employees' age in the relationships.

The authors conducted a survey and collected data from 601 employees in 32 firms in China, and used a multilevel approach to test the hypothesis.

The results showed that the association between commitment-oriented HRM and employee job performance was J-shaped, meaning that commitment-oriented HRM was positively related to job performance when the degree of commitment-oriented HRM exceeded a threshold. Moreover, the authors found that employee age moderated this J-shape relationship. Specifically, the curvilinear relationship between development commitment-oriented HRM and job performance was stronger in younger employees. Contrary to our prediction, the results showed that younger employees reacted more strongly to improve job performance than older employees when maintenance commitment-oriented HRM exceeded a moderate degree.

The findings on the J-shape effect and moderating role of employee age on the J-shape provided critical insights into understanding the mixed results of the effect of HRM. Additionally, this study provided new insight in the linkage between HRM practices and employee outcomes.

The purpose of this paper is to review the roles of human resource management (HRM) specialists in the contemplation and implementation of innovation in employing organisations and workplaces.

The authors review some of the literature and practice in this field as well as 11 other articles that are included in this special issue.

The authors propose six research questions. First, are HRM specialists analysing relevant trends and their implications for the future of work and the workforce? Second, are HRM specialists enabling employing organisations to identify and enable innovative ideas? Third, to what extent are HRM specialists leading partnership arrangements with organised labour? Fourth, what is the role of HRM specialists in creating inclusive work environments? Fifth, how should HRM specialists change to foster enterprise performance, intrapreneurship, agility, creativity and innovation? Sixth, to what extent is there an HRM function for line managers in coordination with HRM specialists in engendering innovation around “change agent” roles?

The authors argue that HRM specialists should embrace and enable innovation. The authors challenge HRM specialists to consider how they can contribute to facilitating innovation. The paper proposes further research on HRM and range of associated stakeholders who, together, have responsibility for innovating in the design and delivery of HRM to enrich our knowledge of HRM and workplace innovations.

The purpose of the research is to examine the antecedent and employee well-being outcomes of employees' perceptions of benefits schemes.

Data were collected using both paper-based and web-based questionnaires over two time points (one month apart). The sample included 281 participants in eight companies in China. Structural equation modelling was employed to investigate the relationship between Chinese traditionality, perceived benefits schemes, job involvement and emotional exhaustion.

Chinese traditionality is an antecedent of employees' perceptions of benefits schemes. Perceived benefits schemes are negatively associated with emotional exhaustion. Moreover, job involvement mediates the relationship between perceived benefits schemes and emotional exhaustion.

The data were collected in eight manufacturing companies in China, which may raise concerns about the generalisability of findings across industries, nations and cultures. Larger, more representative and cross-contextual samples are needed for future research to test the results further.

Managers should anticipate that employees with different cultural values may develop dissimilar perceptions of the same benefits schemes. Hence, managers need to communicate the benefits schemes to distinct employee groups in different ways.

Based on the conservation of resources model, this research offers theoretical insights into the mechanisms through which perceived benefits schemes influence employee health well-being. In addition, this research tests an antecedent of perceived benefits schemes.

This study aims to explore the effect of competitive aggressiveness on firm performance and the moderating effect of firm 2019s ego-network structures in the international coopetition network.

From the perspective of strong cooperation of the global automobile industry in recent years, this study uses the global automobile firms in Factiva database as samples to test hypotheses using the least squares dummy variable (LSDV) model.

This study finds that there is different relationship between the number and variety of competitive actions and firm performance. In addition, ego-network structures have different coefficients for the number and variety of competitive actions.

The conclusions provide theoretical support and policy suggestions for firms to develop effective competitive strategies according to ego-network structures in the international coopetition network.

The purpose of this paper is to better understand the indirect link between high-performance work systems (HPWSs) and firm performance in Chinese professional service firms (PSFs) by investigating the mediating role of organizational ambidexterity, i.e. a firm’s capability to simultaneously explore new ideas and exploit existing resources.

Data were collected from 120 Chinese accounting firms. The authors used hierarchical and polynomial regression analyses to test their hypotheses.

The proposed positive link between the HPWS and organizational ambidexterity was found. Further, the results showed a non-linear relationship between organizational ambidexterity and organizational performance.

The present study is limited in terms of small sample size, single industry and self-report data.

Firms which reported a higher level of HPWS demonstrated better performance due to their organizational capability to explore new ideas and exploit existing resources. In the Chinese context, firms that had high levels of exploration (exploring new resources) and exploitation (exploiting existing resources) or that had a high level of exploration experienced higher performance. The authors can conclude from these findings that without exploration, organizational success is difficult to achieve for PSFs.

This is the first study examining the underlying mechanism of organizational ambidexterity in the indirect relationship between HPWS and firm performance in Chinese PSFs. It advances the authors understanding of HPWS and firm performance relationship in an Eastern country and an emerging context of PSFs. This is also the first study to use polynomial regression to operationalize organizational ambidexterity.

The purpose of this paper is to examine how knowledge inflows and outflows interact to affect performance outcomes. Though previous studies have dealt with knowledge inflows and outflows, the quality and quantity characteristics of knowledge are often not taken into account, thus leaving a research gap with regards to the effect of their interactions on performance outcomes.

Based on Poisson regression analysis, this quantitative study fills the aforementioned research gaps by analyzing the ambidextrous configurations of knowledge flows from an ambidexterity perspective and examines their effects on two-phase performance (i.e. regular season and playoffs), using a longitudinal data set of National Basketball Association transactions from the 2003-2004 to 2014-2015 season.

The results suggest that the complementarity between knowledge inflows and outflows along the quality and quantity dimensions of knowledge, respectively, has a positive impact on two-phase performance, while the imbalance between knowledge inflows and outflows under the quality and quantity dimensions of knowledge, respectively, has a negative impact on playoffs performance (Phase 2). These findings suggest that organizations can balance knowledge inflows and outflows under a single quality or quantity dimension of knowledge. Furthermore, the interaction between the quantity of the inflows of knowledge and the quality of the outflows of knowledge and the interaction between the quality of the inflows of knowledge and the quantity of the outflows of knowledge are both positively related to two-phase performance. These findings suggest that organizations can balance knowledge inflows and outflows across quality and quantity dimensions of knowledge. Finally, the effects of the interaction between knowledge inflows and outflows on playoffs performance are greater than regular-season.

Organizations should leverage ambidexterity to manage/balance knowledge inflows and outflows across quality and quantity dimensions, further enhancing performance outcomes.

This study, first, provides new insights into knowledge flows by distinguishing between the quality and quantity of knowledge, the inflows and outflows of knowledge, constructing ambidextrous configurations of knowledge flows from an ambidexterity perspective. Second, it contributes to the relationship between knowledge flows and organizational performance by revealing how ambidextrous configurations of knowledge flows exert different effects on performance outcomes. Third, it adds to the literature of ambidexterity-performance relationships and expands it to the context of sports.