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The purpose of this paper is to analyse five biases in the valuation of financial investments using a mental time travel framework involving thought investments – with no objective time passing.

An investment’s initial value, together with any periodic funding cash-flows, are mentally projected forward (at an expected rate of return) to give the value at the investment horizon; and this projected value is mentally discounted back to the present. If there is a difference between the initial and present values, then this can imply a bias in valuation.

The study identifies (and gives examples of) five real-world valuation biases: biased funding cash-flow estimates (e.g., mega infrastructure projects); biased rate of return projections (e.g., market crises, tech stock carve-outs); biased discount rate estimates (e.g., dual-listed shares, dual-class shares, short-termism, time-risk misperception, and long-termism); time-duration misestimation or perception bias when projecting (e.g., time-contracted projections which lead to short-termism); and time-duration misestimation or perception bias when discounting (e.g., time-extended discounting which also leads to short-termism). More than one bias can be operating at the same time and we give an example of low levels of retirement savings being the result of the biased discounting of biased projections. Finally, we consider the effects of the different biases of different agents operating simultaneously.

The paper examines key systematic misestimation and psychological biases underlying financial investment valuation pricing anomalies.

This paper investigates the meaning of spirituality and empowerment from the perspective of women of color (WOC) in Fortune 500 companies how it impacts their leadership.

Detailed data were collected through in depth semi-structured interviews documenting their experience as lived in the context of their daily work environments. Twelve WOC in leadership positions were interviewed, and transcripts analyzed using thematic analysis. Their narratives provide insight into the experiences of discrimination and bias and the stress and disenfranchisement that result from these experiences.

Analysis shows that for these women, spirituality was more than a philosophical orientation but comprised a core facet of their identity, empowering them to cope with adversity and uplift others through a leadership style defined by compassion, trust, strong interpersonal relationships and purpose.

Implications for creating more compassionate and inclusive environments that draw on principles of empowerment and spiritual leadership are provided.

This study contributes uniquely to the literature by exploring the perspectives of understudied women leaders who identify as African American, South-Asian and Latina on spirituality and empowerment and their impact on their leadership.

The primacy of commerce in livelihood security cannot be overstated. However, in a rural context defined by involuntary socio-ecological displacement, commerce can assume a sociologically distinct character, with far-reaching implications. Based on first-hand encounters with victims of the devastating 2014 flood in Tokwe-Mukorsi, Zimbabwe, this paper analyses how the processes of “recreating” village markets in the resettlement site of Chingwizi impacted the victims’ experiences of resource provisioning and livelihood security.

Qualitative data were collected through 10 in-depth interviews, 10 key informant interviews and two focus group discussions, five years into the flood victims’ resettlement in Chingwizi. The data analysis focused on the dynamics around the recreation of village markets, and the consequences of this on the household economic standing of the resettled flood victims.

The paper reveals how the formation of village markets in Chingwizi was influenced not primarily by the ethno-commercial and ethno-economic impulses reminiscent of life in their ancestral home but mostly by new, disruptive dynamics and challenges unique to the resettlement site. The paper elucidates the constellation of factors that, together, exacerbated the flood victims’ overall socio-economic dislocation and disadvantage.

The study provides a systematic understanding of the dynamics of ethno-commerce, particularly on the evolution of village market activities and livelihoods, among Zimbabwe’s Chingwizi community over a period of five years into their resettlement. It brings to the fore, the often ignored, but significant nuances that 'village market' formation and livelihoods recreation takes in a resettlement context.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-09-2023-0682

Through a resource-based theoretical lens, we elucidate conditions under which family business culture (FBC) amplifies the positive effects of high-performance work systems (HPWS) intensity and exacerbates the negative effects of low human capital uniqueness (HCU) on firm performance. By doing so, we answer the call for more research on the conditions under which FBC influences firm outcomes.

The present study sampled 226 small business owners across the USA, who provided their responses to online survey questions. Hypotheses were assessed via path analysis in MPlus 8.8, using maximum likelihood estimation.

FBC, HPWS intensity and HCU were positively associated with firm performance. Further, the HPWS intensity – firm performance and HCU – firm performance links were moderated by FBC. Specifically, increased levels of HPWS intensity were associated with greater firm performance when FBC was high, and firms with low levels of HCU tended to have particularly decreased levels of firm performance when FBC was low.

Consistent with the resource-based view, firms' unique resources and competitive advantage may be tied to the extent to which they have an established FBC. High levels of FBC, which are characterized by shared values, loyalty, proud involvement and care toward the organization, can play a significant role in enhancing organizational performance. Family business leaders should prioritize cultivating an enhanced FBC alongside investments in HPWS and unique human capital.

This study contributes to understanding the theoretical underpinnings of FBC and its relationship with firm performance by examining FBC’s interaction with HPWS intensity and HCU. We highlight FBC as a valuable intangible resource that can enhance or diminish the effectiveness of other strategic resources in family firms, further extending the application of resource-based view theory in family business research.

The purpose of this paper is to examine the life and work, both fiction and nonfiction, of the American author Upton Sinclair, for the purposes of better understanding his impact on management theory and practice.

Critical biography is a historiographical approach that analyzes aspects of an individual’s life events and the context that surrounds those events to better understand the contributions of an individual. In this case, this paper analyzes Sinclair’s biography, his work-related fiction and nonfiction and his interactions with business leaders and management thinkers of the day, including scientific management founder Frederick Winslow Taylor, auto industry leader Henry Ford and safety razor magnate King Gillette.

This paper identified four themes which are related to management and workplace history that pervade his fiction and nonfiction writing and link these events to the events of his life as well as the context of the times.

Although others have cited certain aspects of Sinclair’s work for specific purposes, this paper presents a systematic review of Sinclair’s broad oeuvre and its relevance to management and workplace history using a critical biography approach.

This paper evaluates the risk-adjusted returns, selectivity, market timing skills and persistence of the performance of Nigerian pension funds.

Annual return data of 23 pension funds that operated in Nigeria between 2018 and 2022 were obtained from the National Pension Commission (PenCom). Risk-adjusted return was appraised using the Treynor ratio, Sharpe ratio and Jensen alpha, while the Treynor–Mazuy and Henriksson–Merton multiple regression models were applied to decompose selective and timing skills. Performance persistence was assessed using the contingency table and rank correlation models.

Evidence shows that pension funds deliver excess risk-adjusted returns and exhibit selective skills. However, the evidence does not support the presence of timing skills, and there is overwhelming evidence that good (bad) performance does not repeat.

An evaluation of the investment performance of pension funds is crucial for ensuring the financial stability of retirees, maintaining economic stability and making informed investment decisions. It serves the interests of pensioners, pension fund managers, regulators and the broader economy. Our evidence that pension funds generate positive excess returns is a departure from most of the literature on managed funds. We recommend that more Nigerians should leverage the pension fund industry to grow their wealth and prepare for retirement.

This study, to our knowledge, is the first to appraise all the key facets of the investment performance of pension funds in the Nigerian context.

Over the past decade, architecture, construction and engineering (ACE) industries have been evolving from traditional practices into more current, interdisciplinary and technology integrated methods. Intricate digital tools and mobile computing such as computational design, simulation and immersive technologies, have been extensively used for different purposes in this field. Immersive technologies such as augmented reality (AR) and virtual reality (VR) have proven to be very advantageous while the research is in its infancy in the field. Therefore, this study aims to develop an immersive pedagogical framework that can create a more engaging teaching and learning environment and enhance students' skill in the ACE field.

This study developed a BIM-enabled VR-based pedagogical framework for the design studio teaching in architectural courses, using a qualitative approach. A case study method was then used to test and validate this developed framework. Architectural Master Design Studio B, at Queensland University of Technology (QUT) was selected as the case study, with South Bank Corporation (SBC) as the industry partner and stakeholder of this project.

The practicality and efficiency of this framework was confirmed through increased students' and stakeholders' engagement. Some of the additional outcomes of this digitally enhanced pedagogical framework are as follows: enhanced students' engagement, active participation, collective knowledge construction and increased creativity and motivation.

The results have proven that the developed technology-enhanced and digitally enabled teaching pedagogy and framework can be successfully implemented into architectural design studios. This can bridge the existing gap between the technological advancements in ACE industry and higher education teaching and learning methods and outcomes. It is also expected that such innovative pedagogies will future-proof students' skill set as the future generation of architects and built environment workers. A major limitation of this framework is accessibility to the required hardware such as HMD, controllers, high-capacity computers and so on. Although the required software is widely accessible, particularly through universities licencing, the required hardware is yet to be readily and widely available and accessible.

The result of this study can be implemented in the architectural design studios and other ACE related classrooms in higher educations. This can bridge the existing gap between the technological advancements in ACE industry, and higher education teaching and learning methods and outcomes. It is also expected that such innovative pedagogies will future-proof students' skill set.

Such technology-enhanced teaching methods have proven to enhance students' engagement, active participation, collective knowledge construction and increased creativity and motivation.

Despite the advancement of digital technologies in ACE industry, the application of such technologies and tools in higher education context are not yet completely explored and still scarce. Besides, there is still a significant gap in the body of knowledge about developing teaching methods and established pedagogies that embrace the usage of such technologies in the design and architecture curricula.

The rise of emerging economies in the innovation landscape has often been attributed to the positive spillovers of innovation capabilities from multinational corporations (MNCs). However, it is less certain that their innovative capabilities imported from the home country function effectively in the host country from the outset. This study examines the performance of the innovation capabilities of MNC subsidiaries in emerging economies over time by considering the gradual process of their learning about host countries.

We employed stochastic frontier analysis to measure innovation capabilities, our focal construct. For regression analysis, we applied the Mundlak estimator, a variant of the fixed-effects panel estimator, to a sample comprising subsidiaries of MNCs from technologically advanced nations operating in Korea between 2006 and 2016.

Our results indicate that the innovation capabilities of MNC subsidiaries initially underperform those of local firms but improve over time, eventually surpassing the capabilities of their local counterparts. Furthermore, our findings reveal that institutional distance amplifies the underperformance of the innovation capabilities of MNC subsidiaries.

This study contributes to the literature by extending both theoretical development and empirical measurement of innovation capabilities in cross-national settings. Additionally, it deepens our understanding of whether and how MNC subsidiaries adapt their innovation capabilities to the local market environment.

A number of recent artificial intelligence (AI)-enabled technologies, including summarisers, paraphrasers and the cutting-edge chatbots not only have outstanding potentials in modern educational systems but also could lead to a dramatic paradigm shift in the whole education process. This study aims to explore the factors that shape the academic community’s desire and intention to use AI conversational chatbot technology, with a particular focus on the leading ChatGPT.

This study uses a mixed method approach to explore the educators’ adoption of chatbots through an empirically validated model. The model, known as the “Educators’ Adoption of ChatGPT”, was developed by integrating the theoretical foundations of both the Unified Theory of Acceptance and Use of Technology and Status Quo Bias (SQB) frameworks, as well as insights gathered from interviews. The relationships within this model were then tested using a quantitative approach. The partial least squares-structural equation modelling method was used to analyse 243 valid survey responses.

The outcomes of the analysis indicated that perceived educators’ effort expectancy, educators’ autonomous motivation, perceived learners’ AI competency, perceived educators’ competency, innovative behaviour towards technological agility and perceived students’ engagement are significant determinants of educators’ intention to use chatbots. In contrast, perceived unfair evaluation of students, perceived students’ overreliance and perceived bias/inaccuracies were shown to have significant impacts on the resistance to use the technology, which typically implies a negatively significant influence on the educators’ use intention. Interestingly, perceived fraudulent use of ChatGPT was proven insignificant on the resistance to use chatbots.

This study makes a significant contribution to the field of educational technology by filling the gap in research on the use and acceptance of AI-enabled assistants in education. It proposes an original, empirically validated model of educator adoption, which identifies the factors that influence educators’ willingness to use chatbots in higher education and offers valuable insights for practical implementation.

This paper aims to examine whether information technology (IT) managers’ virtual listening, as rated by their high-tech employees, affected turnover behaviour beyond a new constellation of variables, some of which have never been researched as antecedents of turnover behaviour, particularly during a pandemic or crisis. Namely, the main aim, among others, is to answer the research question: does IT employees’ perception of the quality of their supervisors’ virtual listening in the pandemic and crisis era, when employees and managers work remotely, will negatively affect turnover behaviour? If yes, in which constellation of antecedents the virtual listening effecting on turnover behaviour?

Logistic regression analysis was conducted to test the hypotheses via SPSS 26 and PROCESS (Model 6). The variance inflation factor was calculated to test multicollinearity. Interaction was tested using the Hayes and Preacher PROCESS macro model. The researchers also used the J-N technique test (Johnson–Neyman via process). The supplemental analysis used also PROCESS MACRO (IBM Corp., Armonk, NY, USA, 2023) Model 4 and Bootstrap test.

The findings show that perceptions of supervisors’ virtual listening quality as rated by their employees moderated the relationship between organisational deviance as a type of organisational misbehaviour (OMB) and turnover behaviour and had the strongest effect on turnover behaviour beyond other key predictors (organisational deviance as a type of misbehaviour, turnover intention, job satisfaction, embeddedness and alternatives in the labour market). Alternatives to current work moderated the association between the perception of managers’ virtual listening behaviour as rated by their employees and turnover behaviour. Specifically, when alternatives in the labour market were high or medium, the perceived quality of managers’ virtual listening reduced turnover behaviour. Finally, the perception of the IT employees supervisors’ virtual listening moderated the relationship between organisational deviance and turnover intention among high-tech employees.

Evaluating supervisor listening in the high-tech firm may have value in terms of its relationship to outcomes such as retaining employees, turnover intention and especially turnover behaviour. The effect on turnover behaviour and of that new constellation of antecedents on turnover behaviour when people work remotely was not researched yet and important for the post COVID-19 era. Additionally, in contrast to most studies of turnover, this study also focus on the positive aspects of turnover and especially turnover behaviour to organisations in general and especially to high-tech firm and not just the negative aspect as was researched until now. Another contribution is the finding that when employees perceived their managers’ virtual listening quality as high, the effect of deviance as a type of OMB on turnover behaviour was positive. Namely, the listening as a moderator and turnover assisted in making the organisation cleaner from inappropriate behaviour. Additionally, when alternatives in the labour market are high or medium, perceived quality of virtual listening of managers as rated by their employees can reduce turnover behaviour. This virtual listening–turnover relationship and the moderator of alternatives to current work had not previously been found in the turnover literature and this is also significant a contribution to the turnover and withdrawal literature.