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Article
Publication date: 7 August 2017

Ari-Pekka Hameri and Lawrence A. Weiss

The purpose of this paper is to examine the relationship between acquisitions and inventory performance. Specifically, it analyzes the inventory performance (inventory…

Abstract

Purpose

The purpose of this paper is to examine the relationship between acquisitions and inventory performance. Specifically, it analyzes the inventory performance (inventory level) of acquirers and their targets pre- and post-acquisition.

Design/methodology/approach

Using several business databases, a sample of 270 horizontal acquisitions by US firms between 1996 and 2004 is subject to multivariate analysis. Various robustness tests are applied to validate the results.

Findings

Three main results are found. First, the acquirer’s inventory performance is normally better than its target’s prior to the acquisition, consistent with acquirers taking over less efficient firms rather than cherry picking the more efficient ones. Second, inventory performance improves over time in the post-acquisition period in those cases where the acquirer is more efficient than the target. Third, inventory performance deteriorates over time in the post-acquisition period in those cases where the acquirer is less efficient than the target. The results are consistent with acquisitions being associated with both efficiency gains and efficiency losses due to (in)efficiency transfers from acquirers to targets.

Practical implications

From the management point of view, the study delivers the strongest message to companies that have substantial inventories and for whom efficient inventory management is vital to overall performance. Managers who are unaware of the potential consequences of acquisitions on inventory performance destroy value.

Originality/value

This research complements past research by showing that in spite of their synergetic potential, reducing inventory receives only limited attention in acquisitions.

Details

Journal of Advances in Management Research, vol. 14 no. 3
Type: Research Article
ISSN: 0972-7981

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Article
Publication date: 17 July 2009

Vedran Capkun, Ari‐Pekka Hameri and Lawrence A. Weiss

The purpose of this paper is to study the relationship between inventory performance, both total inventory (INV) and its discrete components (raw material (RMI)…

Abstract

Purpose

The purpose of this paper is to study the relationship between inventory performance, both total inventory (INV) and its discrete components (raw material (RMI), work‐in‐process (WIP), and finished goods (FGI)), and financial performance in manufacturing companies.

Design/methodology/approach

Statistical analysis is applied to the financial information of US‐based manufacturing firms over the 26‐year period from 1980 to 2005.

Findings

The paper finds a significant positive correlation between inventory performance (total as well as the discrete components of inventory) and measures of financial performance (at both the gross and operating levels) for firms in manufacturing industries. The correlation between the performance of discrete types of inventory and financial performance varies significantly across inventory types. RMI performance has the highest correlation with all financial performance measures. Between WIP inventory and FGI performance, the former is more highly correlated with gross profit measures while the latter is more highly correlated with operating profit measures.

Originality/value

This paper is the first to systematically analyze the relationship between inventory performance and financial performance for a large sample of firms across all manufacturing industries. The paper adds to prior literature by discussing and testing the relationship between both INV performance and the discrete types of inventory (RMI, WIP, and FGI) and profitability of operations, both at the gross and at the operating profit levels. The paper also analyzes the results for firms across as well as within manufacturing industries. The results obtained support the operations management literature's claim that a managerial focus on inventory performance results in value creation for manufacturing firms.

Details

International Journal of Operations & Production Management, vol. 29 no. 8
Type: Research Article
ISSN: 0144-3577

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Book part
Publication date: 13 August 2018

Robert L. Dipboye

Abstract

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The Emerald Review of Industrial and Organizational Psychology
Type: Book
ISBN: 978-1-78743-786-9

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Book part
Publication date: 20 July 2017

Neal M. Ashkanasy, Ashlea C. Troth, Sandra A. Lawrence and Peter J. Jordan

Scholars and practitioners in the OB literature nowadays appreciate that emotions and emotional regulation constitute an inseparable part of work life, but the HRM…

Abstract

Scholars and practitioners in the OB literature nowadays appreciate that emotions and emotional regulation constitute an inseparable part of work life, but the HRM literature has lagged in addressing the emotional dimensions of life at work. In this chapter therefore, beginning with a multi-level perspective taken from the OB literature, we introduce the roles played by emotions and emotional regulation in the workplace and discuss their implications for HRM. We do so by considering five levels of analysis: (1) within-person temporal variations, (2) between persons (individual differences), (3) interpersonal processes; (4) groups and teams, and (5) the organization as a whole. We focus especially on processes of emotional regulation in both self and others, including discussion of emotional labor and emotional intelligence. In the opening sections of the chapter, we discuss the nature of emotions and emotional regulation from an OB perspective by introducing the five-level model, and explaining in particular how emotions and emotional regulation play a role at each of the levels. We then apply these ideas to four major domains of concern to HR managers: (1) recruitment, selection, and socialization; (2) performance management; (3) training and development; and (4) compensation and benefits. In concluding, we stress the interconnectedness of emotions and emotional regulation across the five levels of the model, arguing that emotions and emotional regulation at each level can influence effects at other levels, ultimately culminating in the organization’s affective climate.

Details

Research in Personnel and Human Resources Management
Type: Book
ISBN: 978-1-78714-709-6

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Book part
Publication date: 16 July 2018

Shane Connelly and Brett S. Torrence

Organizational behavior scholars have long recognized the importance of a variety of emotion-related phenomena in everyday work life. Indeed, after three decades, the span…

Abstract

Organizational behavior scholars have long recognized the importance of a variety of emotion-related phenomena in everyday work life. Indeed, after three decades, the span of research on emotions in the workplace encompasses a wide variety of affective variables such as emotional climate, emotional labor, emotion regulation, positive and negative affect, empathy, and more recently, specific emotions. Emotions operate in complex ways across multiple levels of analysis (i.e., within-person, between-person, interpersonal, group, and organizational) to exert influence on work behavior and outcomes, but their linkages to human resource management (HRM) policies and practices have not always been explicit or well understood. This chapter offers a review and integration of the bourgeoning research on discrete positive and negative emotions, offering insights about why these emotions are relevant to HRM policies and practices. We review some of the dominant theories that have emerged out of functionalist perspectives on emotions, connecting these to a strategic HRM framework. We then define and describe four discrete positive and negative emotions (fear, pride, guilt, and interest) highlighting how they relate to five HRM practices: (1) selection, (2) training/learning, (3) performance management, (4) incentives/rewards, and (5) employee voice. Following this, we discuss the emotion perception and regulation implications of these and other discrete emotions for leaders and HRM managers. We conclude with some challenges associated with understanding discrete emotions in organizations as well as some opportunities and future directions for improving our appreciation and understanding of the role of discrete emotional experiences in HRM.

Details

Research in Personnel and Human Resources Management
Type: Book
ISBN: 978-1-78756-322-3

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Article
Publication date: 1 June 1997

James L. Price

Addresses the standardization of the measurements and the labels for concepts commonly used in the study of work organizations. As a reference handbook and research tool…

Abstract

Addresses the standardization of the measurements and the labels for concepts commonly used in the study of work organizations. As a reference handbook and research tool, seeks to improve measurement in the study of work organizations and to facilitate the teaching of introductory courses in this subject. Focuses solely on work organizations, that is, social systems in which members work for money. Defines measurement and distinguishes four levels: nominal, ordinal, interval and ratio. Selects specific measures on the basis of quality, diversity, simplicity and availability and evaluates each measure for its validity and reliability. Employs a set of 38 concepts ‐ ranging from “absenteeism” to “turnover” as the handbook’s frame of reference. Concludes by reviewing organizational measurement over the past 30 years and recommending future measurement reseach.

Details

International Journal of Manpower, vol. 18 no. 4/5/6
Type: Research Article
ISSN: 0143-7720

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Book part
Publication date: 28 April 2021

Silja Hartmann

Given the uncertain and often disruptive business environment, understanding how employees, teams, and organizations can recover from stress, build long-lasting…

Abstract

Given the uncertain and often disruptive business environment, understanding how employees, teams, and organizations can recover from stress, build long-lasting resilience, and exploit failures as learning opportunities is key for employees’ well-being and organizational success. The book has been organized in three sections, each representing a major domain of inquiry: recovery, resilience, and learning. The chapters within each section elaborate on these domains, and each provides novel ideas and insights. The goal of this chapter is to summarize and integrate some themes and insights offered by the chapters in this book. Based on this summary and integration, the author will illuminate some exciting paths opened up by these chapters, which might be worth exploring further by other scholars in the future. Specifically, future research could benefit from (1) stronger integration of research on recovery, resilience, and learning from failure, (2) better understanding of the role of setbacks, failure, and adversity for recovery, resilience, and learning, and (3) investigations of the role of context for recovery, resilience, and learning from failure.

Details

Work Life After Failure?: How Employees Bounce Back, Learn, and Recover from Work-Related Setbacks
Type: Book
ISBN: 978-1-83867-519-6

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Article
Publication date: 3 June 2019

Shipeng Han, Zabihollah Rezaee and Ling Tuo

The literature suggests that management discretion to adjust resources in response to changes in sales can create asymmetric cost behavior and management incentives to…

Abstract

Purpose

The literature suggests that management discretion to adjust resources in response to changes in sales can create asymmetric cost behavior and management incentives to move stock prices can influence its decision to release management earnings forecasts (MEF). The purpose of this paper is to investigate the association between a firm’s degree of cost stickiness and its propensity to release MEF. The authors propose that both MEF and cost stickiness are influenced by management strategic choices and provide two possible explanations along with supportive evidence. First, when management is optimistic about future performance, it tends to increase both cost stickiness and is willing to disclose the optimistic expectations through MEF. Second, cost stickiness increases information asymmetry between management and investors, thus management tends to issue earnings forecast to mitigate the perceived information asymmetry.

Design/methodology/approach

The authors collect firm-level fundamental data from the COMPUSTAT database, and market data from the CRSP database during 2005 and 2016. The data used to measure variables related to institutional ownership and financial analysts are, respectively, obtained from the Thomson Reuters and the I/B/E/S databases. The quarterly MEF data are from two databases. The authors obtain the data before 2012 the from Thomson First Call’s Company Issued Guidance database and manually collect the data between 2012 and 2016 from the Bloomberg database for the largest 3,000 publicly traded US companies. The measurement of cost stickiness is based on the industry-level measurement developed by Anderson et al. (2003) and the firm-level measurements developed by Weiss (2010). The authors construct two measurements, management’s propensity to issue MEF and the frequency of MEF, to capture management’s voluntary disclosure strategy.

Findings

The analyses of a sample between year 2005 and 2016, indicate that the firm-level cost stickiness is positively associated with the firm’s propensity to issue MEF and the frequency of MEF. Moreover, the authors find that the level of cost stickiness is associated with more favorable earnings news forecasted by management. Additional tests suggest that both information asymmetry and managerial optimism may explain the relationship between cost stickiness and MEF. Finally, the authors find that the association between cost stickiness and MEF behaviors is more pronounced when the resource adjustment cost is high and when the firm efficiency is high. The results are robust after using alternative measurements of cost stickiness and MEF.

Originality/value

First, this paper attempts to build a bridge between managerial accounting and financial accounting by providing evidence of managerial incentives and discretions that affect both cost structure and earnings. The authors contribute to, and complement, prior studies that primarily disentangle the complicated accounting information system by focusing on either the internal information system or the external information system. Second, the paper complements prior studies that examine cost stickiness and its determinants of asymmetric cost behavior by providing additional evidence for the value-relevance of cost stickiness strategy and its link to MEF releases in mitigating information asymmetry. Third, the findings are also relevant to current debates among policymakers, academia and practitioners regarding modernization of mandatory and voluntary disclosures through discussing the managerial incentive behind the managerial disclosure strategies as reflected in MEF releases (SEC, 2013). Fourth, the authors provide evidence regarding management’s role in influencing cost asymmetry and MEF releases, which support the theoretical argument that management discretions affect the firms’ cost structure and MEF disclosures.

Details

Asian Review of Accounting, vol. 28 no. 2
Type: Research Article
ISSN: 1321-7348

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Book part
Publication date: 28 April 2021

Julia Backmann, Matthias Weiss and Gisa Todt

Setbacks and failures are part of organizational life. While a recent body of literature pointed to the importance of recovery, resilience, and learning from failure in…

Abstract

Setbacks and failures are part of organizational life. While a recent body of literature pointed to the importance of recovery, resilience, and learning from failure in responding to and dealing with setback events, the setback itself and its underlying dimensions remain underexplored. However, how severe employees perceive a setback to be plays an integral role in how successfully they handle these events. Taking an event-oriented perspective on work-related setbacks, this study defines setback severity as the setback event’s novelty, disruptiveness, and criticality. Based on the current literature and prior operationalizations, the authors introduce and validate a three-dimensional measure of setback severity. The exploratory and confirmatory factor analyses provide support for the proposed three-dimensional model. Further analyses show that disruptiveness and criticality are significantly related to identity threat, emotional exhaustion, trauma, turnover intention, and thriving, while novelty is only related to turnover intention and thriving. The implications of the setback severity measure are discussed along with recommendations for future research.

Details

Work Life After Failure?: How Employees Bounce Back, Learn, and Recover from Work-Related Setbacks
Type: Book
ISBN: 978-1-83867-519-6

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Book part
Publication date: 7 June 2016

Jessica M. Blomfield, Ashlea C. Troth and Peter J. Jordan

Sustainability is an emotional issue. It is also an issue that is gaining prominence in organizational agendas. In this chapter, we outline a model to explain how…

Abstract

Purpose

Sustainability is an emotional issue. It is also an issue that is gaining prominence in organizational agendas. In this chapter, we outline a model to explain how employees perceive change agents working to implement sustainability initiatives in organizations. Using this model, we argue that organizational support for sustainability can influence how employees respond to sustainability messages. We further argue that the intensity of emotions that change agents display, and how appropriate those emotions are within the organizational context, will influence how employees perceive those individuals and the success of their efforts to influence green outcomes.

Research implications

We extend the Dual Threshold Model of emotions (DTM: Geddes & Callister, 2007) to assess the impact of displays of emotional intensity on achieving sustainability goals. Our model links emotional propriety to change agent success. By exploring variations of the DTM in terms of contextual factors and emotional intensity, our model elaborates on the dynamic nature of emotional thresholds.

Practical implications

Using our framework, change agents may be able to improve their influence by matching the emotional intensity of their messages to the relevant display rules for that organization. That is, change agents who are perceived to express emotion within the thresholds of propriety can enhance their success in implementing green outcomes.

Originality/value

This chapter examines sustainability initiatives at the interpersonal behavior level. We combine aspects of organizational behavior, emotion in organizations, and organizations and the natural environment to create a new model for understanding change agent success in corporate sustainability.

Details

Emotions and Organizational Governance
Type: Book
ISBN: 978-1-78560-998-5

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