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The purpose of this paper is to examine the shocks to firm's beta around the event of addition or deletion from the S&P 500 index.

The total derivative of beta and Campbell and Vuolteenaho decomposition of beta methodologies are used, on monthly and daily basis, to examine the behavior of beta around the event.

Results show a significant increase in correlations of the event firms' returns and the market proxy returns and cash‐flow betas, and decrease in discount‐rate betas for added firms and the opposite effects for deleted firms. Robustness tests indicate that the total derivative changes effects are typical for the event firms industry but that the cash‐flow correlation changes are specific to the firm. These findings suggest that addition or deletion from the S&P 500 index is not an information free event.

The Campbell and Vuolteenaho methodology has limitations – it is conditional on the selection of state variables. In future research it would be beneficial to use different state variables in the beta decomposition framework. Another relevant question for a future research is: what are the effects of the event on the Fama‐French factor model loadings?

The paper's findings contribute to the ongoing debate in the literature of the information hypothesis for addition or deletion from the S&P 500 index.

The purpose of this paper is to examine the dynamic relationships among investment, earnings and dividends for US firms. The sample period is 1950-2006.

The authors use a firm-level vector auto-regression (VAR) framework to examine the firm-level dynamics among investment, earnings and dividends. The firm-level VAR yields Granger causality results, impulse response functions, and variance decompositions characterizing the dynamics of these three variables at the firm level.

For the average firm in the sample, Miller and Modigliani dividend policy irrelevance is not supported, even in the long run; the shocks to dividends do have long-run consequences for investment and vice versa. Dividend changes are an ineffective signal of future earnings in both the short and long-term. The cost of an increased dividend is on average an immediate decrease of $3 in investment for every dollar increase in dividends and the effect is persistent up to six years after the increase in dividends.

The firm-level VAR used in the study requires that sample firms have long histories of investment, earnings and dividend data. The study addresses the interaction between dividends and investment and therefore necessitates examining dividend-paying firms. By the nature of the research question, the sample firms will not be representative in all respects to the universe of firms. The most striking difference between the sample and the universe of firms is firm size. As such, the study's conclusions are most applicable to larger, stable, dividend-paying firms. The study is also limited to dividend payout. Alternative payout policies, such as share repurchases, are not considered in this work.

In theory, increases in dividends can signal higher future earnings; however, the evidence does not support this hypothesis. When capital markets are constrained or incomplete, increases in dividends come at a cost to investment. Firms should consider alternative methods of signaling future earnings that have less of an impact on investment. Investors should carefully evaluate the possible impact of an increase in dividends on investment and future earnings growth.

This study is the first to examine the dynamics of earnings, dividends and investment at a firm level and over such a long sample period. By including the dynamics of earnings, the authors emphasize the potential opportunity costs that increasing dividends has on investment when capital markets are imperfect. The dynamic system also allows the authors to consider long-run effects as well as immediate responses to system shocks.

Wonders whether companies actually have employees best interests at heart across physical, mental and spiritual spheres. Posits that most organizations ignore their workforce – not even, in many cases, describing workers as assets! Describes many studies to back up this claim in theis work based on the 2002 Employment Research Unit Annual Conference, in Cardiff, Wales.

This paper develops a deeper understanding of the origin, development and implementation of overall change management strategies in multinationals and their implications for competence development and learning practices in UK and German subsidiaries.

The cross‐national research project applies mainly qualitative research methods.

Despite increased integrative attempts by headquarters, especially in two out of three cases, significant differences were found between German and UK subsidiaries in key capabilities and strategic competences as well as in knowledge sharing and learning.

Future research should focus more on micro‐political issues of learning and knowledge sharing, a topic hardly addressed in international management research.

This study shows the enduring influence of national institutional diversity on the management of the MNC.

The aim of this article is to develop the foundations of an actor‐centred, processual approach to examining the influence of cross‐border knowledge transfer and management learning on transnational institution building in post‐socialist countries. We argue that there is a need for more research to understand how key social actors go about (re)structuring, (re)defining and sharing knowledge within new international ventures. We contend that social actors can play a significant role in creating and structuring the “transnational social space” in which the new venture takes shape, exercising strategic choice that can mediate, adapt or even reject the apparently constraining effects of technical‐economic or cultural‐institutional factors. The role of social actors is conceptualized as a socio‐political sensemaking process, a perspective that would complement the current structuralist bias in the discussion about the emergence of transnational social space in international management research literature.

More than 50 per cent of all German households own a freezing appliance and so far the market of frozen foods is constantly increasing (1 per cent from 2017 to 2018). Despite frozen foods playing an important role in our everyday life, little is known about the consumer’s habits at home. The purpose of this paper is to uncover gaps in the knowledge about consumer behaviour when handling frozen food. Moreover, the impact of consumers on the quality of frozen products should be assessed.

A representative online survey was carried out to investigate different aspects of consumer behaviour concerning frozen foods. Respondents (n=2,053) were questioned about their general handling habits regarding eight different food groups: fruit, vegetables, meat, fish, bread, pastries, ready-to-eat meals and leftovers. The focus was on freezing, pre-handling, packaging and thawing – depending on the age of those questioned and combined with best practice advice regarding quality storage of frozen products.

Most Germans have the opportunity to freeze food and keep their freezers full or medium loaded. Older participants act more efficiently towards quality storage, but more education about freezing and frozen storage would be generally helpful to maintain quality of frozen foods and increase utilisation of freezers, using their full preservation potential.

No open questions were asked due to the scope of more than 2,000 participants, which, in retrospect, would have been instructive.

Consumer handling of frozen food in Germany was investigated in a representative way for the first time, covering age groups from 18 to 69 and household sizes from 1 to >4 people, focussing on eight major food groups.

The purpose of this paper is to advance micro-level theorising of sociocultural post-merger integration (PMI) by merging insights from international business and management research on the cognitive and affective dimensions of PMI.

The paper follows a narrative approach to review the previously separate literatures on cognition and emotion in PMI situations. It draws on insights from management research beyond the PMI context to integrate these literatures and as a result, develops a process model of emotional sensemaking in PMI.

An emotional sensemaking approach to PMI helps to explain when and why events might or might not motivate individuals to revisit their interpretation of a PMI and illustrates how and why similar PMI events can lead to opposite individual reactions and, thus, obtain heterogeneous integration outcomes.

The paper discusses how an emotional sensemaking approach can be applied to sociocultural PMI and points to new directions for future studies based on this application. As the model concentrates on the individual level, theoretical implications for sociocultural PMI at the meso- and macro-levels remain limited.

This paper brings forward the dynamics that underlie the processes and outcomes of individuals’ behaviour and reactions to PMI events. The proposed process model of emotional sensemaking in PMI responds to recent calls by sociocultural PMI scholars to promote a processual rather than event-based view of PMI, with a focus on individual actors and an emphasis on the multifaceted dynamics and outcomes of PMI.

The purpose of this paper is to clarify the relationship between language, thinking and society for explaining the degree of visibility of the French organizational studies (OS) production.

This paper proposes a sociological analysis based on Bourdieu field to understand the variation of reception the French OS production have had among the Anglo-Saxon field. The paper aims to underline some key elements, which can explain the differences of reception experienced by the French OS scientists. The paper opted for a general review using historical data; reviews of OS literature; and Google scholar, Web of Science and major OS Journal data.

The paper provides some evidence about how the degree of visibility of the French OS production is related to translation, cognitive and social resonance, producer place in the scientific network and relationship between the fields. It suggests that the degree of visibility is the result of a complex set of socio-cognitive schemes, social issues raised by the scholar and the place occupied by the researcher in the field.

The paper brings interesting ideas concerning the international development of the OS field, the degree of visibility of diverse contributions coming from non-English speaking researchers, notably the French ones, and how the dialogue between different linguistic and social universes can be ameliorated.

The purpose of this paper is to contribute to previous research on intraorganizational power in multinational corporations (MNCs). It shows that a subsidiary manager may use language and acts of translation to resist control from headquarters and to (re)define his and his unit’s power position in a headquarters-subsidiary relationship. It also uncovers the interplay between natural languages and “company speak” as a specialized language.

The paper is based on a single case study of a European MNC undergoing strategic change. The data were drawn from company documents, personal interviews and focus group discussions.

The findings show that actors at both headquarters and in the focal subsidiary employed language and translation to exercise power over meanings; headquarters exerted control over “mindsets” and practices, while subsidiaries responded by resisting these meaning systems. The authors argue that the crossing of language boundaries offers a window onto shifting power positions and micro-politics in the MNC.

The study was limited to a single translation act in a focal headquarters-subsidiary relationship.

From the managerial perspective, any process of communication in a multilingual context needs to be sensitive to power (re)definitions associated with language and translation.

This study sheds light on translation as a political act and hidden activity in the MNC.

The purpose of this paper is to examine whether characteristics of French organizations can be found in the Airbus Group, ancient European Aeronautic Defence and Space Company (EADS) Group, and how these characteristics have evolved over time in comparison to German ones.

This article presents an in-depth case study by using a contextual approach, considering influential factors which are likely to influence the evolution of organizations.

The analysis shows that the Airbus Group reflects characteristics of French organizations: the importance of strategy, the principle of honour, centralization of decision and power, the role of the state in the capital and its influence via professional networks of its elite coming from the Grandes Ecoles. These findings confirm a relative continuity of national peculiarities over time. The recent evolution of the company also highlights the German influence, notably in terms of shares and management positions.

The case study demonstrates that the Airbus Group has become a multinational company where contextual elements and organizational structures regulate intercultural relationships of interests, influence and power.

Five contextual factors are proposed, which allow to understand and structure the peculiarities of French organizations, in comparison to German ones as well as power distribution within the Airbus Group.