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Article
Publication date: 1 December 1996

Carl R. Phillips and Antoinette S. Phillips

Examines the interactive effects of applicant past performance, evaluator attributions and interpersonal attraction on selection decisions. A total of 172 male and female…

Abstract

Examines the interactive effects of applicant past performance, evaluator attributions and interpersonal attraction on selection decisions. A total of 172 male and female students evaluated an application for an on‐campus position and were asked to make selection decisions. Results indicated that internal attributions for good past performance were associated with more favourable selection decisions while internal attributions for poor past performance were associated with less favourable selection decisions. Hypotheses involving interactive effects of applicant past performance and interpersonal attraction on evaluator attributions and selection decisions were not supported.

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Journal of Managerial Psychology, vol. 11 no. 8
Type: Research Article
ISSN: 0268-3946

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Article
Publication date: 7 September 2012

Rakesh Gupta and Thadavillil Jithendranathan

The purpose of this paper is to examine the various segments of the managed funds market to establish if there is any significant difference in the way the assets are…

Abstract

Purpose

The purpose of this paper is to examine the various segments of the managed funds market to establish if there is any significant difference in the way the assets are allocated into various asset categories and if investors base their investment decisions based on the past performance of the fund.

Design/methodology/approach

An average investor who does not possess superior investment knowledge may base their investment decision on the past performance of funds resulting in flow based on past performance. This study uses a panel regression model to test the relationship between net flows and past excess returns.

Findings

Significant differences are found in asset allocation between the retail and wholesale segments. Retail investors prefer less risky investments compared to wholesale investors and have lower preference for overseas investments. The results indicate that investors base their investment decisions on the past performance of funds, with the retail segment showing a higher level of influence of past performance, as compared to the wholesale segment. The results further show less evidence of a reaction to risk among the managed investment categories.

Practical implications

Fund managers use fund performance for marketing purposes and results of the study may be of importance to the managers and investors in understanding this objective. The findings are also of significance for policy makers in terms of understanding investor behaviour.

Originality/value

This is the first study of the Australian managed funds industry (including wholesale and retail funds) that tests the link between past performance and fund flows. The study includes data until June 2008, which includes a period when a number of policy changes occurred in Australian superannuation industry.

Details

Accounting Research Journal, vol. 25 no. 2
Type: Research Article
ISSN: 1030-9616

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Article
Publication date: 18 February 2019

Terhi Chakhovich

The temporality of performance measurement systems has been claimed to affect actors’ time orientation, such as that of listed company managers. The purpose of this paper…

Abstract

Purpose

The temporality of performance measurement systems has been claimed to affect actors’ time orientation, such as that of listed company managers. The purpose of this paper is to explore this view.

Design/methodology/approach

The study uses constructivist data gathered from executives in one listed and one non-listed company.

Findings

The study shows that the research on performance measurement is based on a linear-quantitative view on time that assumes that humans orient towards the future from one point, the present; this view excludes other time-related constructs, particularly the past, and highlights a choice between the short term and the long term, idealising the long term. It is shown that the performance measurement of non-listed company executives is constructed through past-based, present-based and future-based rationalities: executives acknowledge the past as a basis for present and future performance, present actions as shaping future performance and future plans and performance targets as bases for present actions. Listed company executives’ performance measurement is constructed predominantly through the present-based time rationality.

Research limitations/implications

“The orientation from the present” and the “short” and “long terms” could be enhanced with time rationalities.

Practical implications

The evaluation periods within performance measurement systems do not determine the time orientations of the actors subjected to those systems; time rationalities could be considered when designing such systems.

Originality/value

The paper provides a novel view on performance measurement and time.

Details

Accounting, Auditing & Accountability Journal, vol. 32 no. 2
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 1 July 2005

Markus Eberl and Manfred Schwaiger

Theory has made many assumptions about the consequences of a “good” corporate reputation. The aim of this paper is to provide evidence of the effect of a positive…

Abstract

Purpose

Theory has made many assumptions about the consequences of a “good” corporate reputation. The aim of this paper is to provide evidence of the effect of a positive corporate reputation on the firm's future financial performance by means of a more differentiated concept of reputation than the one commonly used in literature.

Design/methodology/approach

In contrast to prior research, reputation is conceptualised by means of a two‐dimensional approach. Therefore, two distinct reputational components are hypothesised as affecting financial performance differently. A large‐scale representative survey of 30 of the largest German firms is conducted to gain reputational evaluations of these firms. The overall assessment of reputation is differentiated into a part that is explained by past financial performance and an idiosyncratic part to control for the effect of past performance on today's reputation. Finally, the idiosyncratic effect of reputation on future performance is assessed with an econometric model.

Findings

Both the cognitive and the affective reputational dimension significantly influence future financial performance after controlling for past performance. Furthermore, the results suggest that the decompositional model outperforms a non‐decompositional approach in terms of goodness of fit.

Research limitations/implications

There is only a limited possibility to generalise the results to all firms.

Practical implications

The results imply a need for differentiated reputation management, since the cognitive and affective components of corporate reputation drive financial performance differently.

Originality/value

The two‐dimensional reputational approach broadens prior research with a focus on the differences in performance – the effects of both the reputational components.

Details

European Journal of Marketing, vol. 39 no. 7/8
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 1 April 2005

Ana Margarida Passos and António Caetano

The purpose of this paper is to test a model of the effects of intragroup conflict (relationship conflict, task conflict and process conflict), past performance feedback…

Abstract

Purpose

The purpose of this paper is to test a model of the effects of intragroup conflict (relationship conflict, task conflict and process conflict), past performance feedback and perceptions of team decision‐making effectiveness on team performance and affective responses.

Design/methodology/approach

A sample of 183 individuals, working in 47 different teams, participated in this study. All the teams were involved in a national management challenge for a five‐week period. Three questionnaires were sent directly to team members by e‐mail at different times of the challenge period to collect data concerning demographic data (questionnaire 1), perceptions of team functioning (questionnaire 2) and perceptions of team decision‐making effectiveness as well as the affective responses (questionnaire 3). The level of analysis in this study was the group. Thus, all individual survey responses were aggregated to the team level for statistical analysis.

Findings

Results showed a full mediation effect of perceptions of team decision in the relationship between process conflict and team performance. Task and relationship conflict showed no significant relationships with team performance and satisfaction with the team. The result that effective past performance feedback directly influences team performance, in a positive way, suggests that past effective decisions may reinforce the decision‐making processes previously used by team members.

Research limitations/implications

One possible limitation of this study is the fact that measurements were taken at different times of the management challenge. In fact, while intragroup conflict was measured two weeks after the beginning of the challenge, the other variables were measured at the end of the challenge. This time measurement difference could raise some questions concerning the stability of the intragroup conflict over time in work teams. Future research should address this hypothesis. Future research should also elucidate the influence of contextual variables, such as cultural values, on the relationship between intragroup conflict and performance outcomes.

Practical implications

This study helps managers to understand how to benefit from conflict. In a highly competitive environment, disagreement among team members about “how to do it” seems to decrease decision‐making effectiveness.

Originality/value

This study fills a gap in the conflict literature concerning the impact of intragroup conflict in the team members' perceptions of decision‐making effectiveness and how it affects the overall performance. Moreover, this study also clarifies the importance of past performance to the actual team outcomes.

Details

Journal of Managerial Psychology, vol. 20 no. 3/4
Type: Research Article
ISSN: 0268-3946

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Article
Publication date: 6 December 2019

Ofer Arbaa and Eva Varon

The purpose of this paper is to study the sensitivity of provident fund investors to past performance and how market conditions, changes in risk and liquidity levels…

Abstract

Purpose

The purpose of this paper is to study the sensitivity of provident fund investors to past performance and how market conditions, changes in risk and liquidity levels influence the net flows into provident funds by using a unique sample from Israel.

Design/methodology/approach

The study checks the impact of different levels of fund performance on provident fund flows using three alternative proxies for performance: raw return and the risk adjusted returns based on the Sharpe ratio and the Jensen’s α. The analysis relies on the time fixed effect and fund fixed effect regression models.

Findings

Results reveal that there exists an approximately concave flow–performance relationship and performance persistence among Israeli provident funds. Israeli provident fund investors are risk averse so they overreact to bad performance both in bull and bear markets. Moreover, liquidity is an important factor to influence the flow–performance curve. The investors’ strong negative response to poor performance and relative insensitivity to outperformance show that provident fund managers are not rewarded for their risk-shifting activities as in mutual funds.

Originality/value

The authors explore the behavior of investor flows in non-institutional retirement savings funds specifically outside of the USA, which is a topic not properly investigated in literature. Moreover, examining inflows and outflows separately gives the authors a richer understanding of investors in pension schemes. This study also enhances the understanding of the impact of fund liquidity on the flow–performance relationship for the retirement funds segment.

Details

International Journal of Managerial Finance, vol. 16 no. 3
Type: Research Article
ISSN: 1743-9132

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Article
Publication date: 1 February 1998

George Balabanis, Hugh C. Phillips and Jonathan Lyall

This paper investigates the relationship between corporate social responsibility (CSR) and the economic performance of corporations. It first examines the theories that…

Abstract

This paper investigates the relationship between corporate social responsibility (CSR) and the economic performance of corporations. It first examines the theories that suggest a relationship between the two. To test these theories, measures of CSR performance and disclosure developed by the New Consumer Group were analysed against the (past, concurrent and subsequent to CSR performance period) economic performance of 56 large UK companies. Economic performance included: financial (return on capital employed, return on equity and gross profit to sales ratios); and capital market performance (systematic risk and excess market valuation). The results supported the conclusion that (past, concurrent and subsequent) economic performance is related to both CSR performance and disclosure. However, the relationships were weak and lacked an overall consistency. For example, past economic performance was found to partly explain variations in firms’ involvement in philanthropic activities. CSR disclosure was affected (positively) by both a firm’s CSR performance and its concurrent financial performance. Involvement in environmental protection activities was found to be negatively correlated with subsequent financial performance. Whereas a firm’s policies regarding women’s positions seem to be more rewarding in terms of positive capital market responses (performance) in the subsequent period. Donations to the Conservative Party were found not to be related to companies’ (past, concurrent or subsequent) financial and/or capital performance.

Details

European Business Review, vol. 98 no. 1
Type: Research Article
ISSN: 0955-534X

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Article
Publication date: 14 February 2020

Amanpreet Kaur and Balwinder Singh

The purpose of this study is to examine the existence of bi-directional relation between corporate reputation and financial performance in developing nation like India.

Abstract

Purpose

The purpose of this study is to examine the existence of bi-directional relation between corporate reputation and financial performance in developing nation like India.

Design/methodology/approach

The study conducts panel regression analysis on data collected from annual reports of Indian companies constituting BSE 500 index over a period of 10 years (1 April, 2002 to 31 March, 2012).

Findings

The results of the study point towards the existence of strong positive bi-directional liaison between reputation and performance in India, thereby confirming the presence of “vicious circle” in context of emerging economy like India. The results are in line with the findings of Roberts and Dowling (2002) and Eberl and Schwaiger (2005), who asserted existence of reputational “vicious circle” in developed nations.

Research limitations/implications

The current study measures the performance of companies through accounting-based measures only. However, incorporating market-based measures could have provided better insights into the relationship between corporate reputation and financial performance. The period of study pertains to the pre-mandatory regime, wherein changes brought about by the enactment of companies act, 2013 is out of the scope of the present research.

Practical implications

It is argued that in actual practice managers should realise the ingenuity of intangible resources and incorporate them into their strategical plans. It is high time that corporate managers of developing nations give impetus to reputation building activities and uphold a good reputation to improve their financial outcomes. Thus, where good financial performance seems indispensable to build a good reputation, at the same time having the resource (good reputation) is not sufficient, its nurturing, management and effective use is all the more crucial if it is to improve financial performance.

Originality/value

There exists hardly any study comprehensively examining the relationship between corporate reputation and financial performance in the Indian context. This is the first known study to empirically test the lag relation between corporate reputation and financial performance in the Indian market. The study is unique as it follows a different approach in measuring corporate reputation. It is the first longitudinal study to analyse the bi-directional reputation-performance liaison in an emerging economy like India.

Details

Journal of Indian Business Research, vol. 12 no. 2
Type: Research Article
ISSN: 1755-4195

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Article
Publication date: 1 March 1999

K.H. Spencer Pickett

Using the backdrop of an (apparently) extended visit to the West Indies, analogies with key concerns of internal audit are drawn. An unusual and refreshing way of…

Abstract

Using the backdrop of an (apparently) extended visit to the West Indies, analogies with key concerns of internal audit are drawn. An unusual and refreshing way of exploring the main themes ‐ a discussion between Bill and Jack on tour in the islands ‐ forms the debate. Explores the concepts of control, necessary procedures, fraud and corruption, supporting systems, creativity and chaos, and building a corporate control facility.

Details

Management Decision, vol. 37 no. 2
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 1 June 1998

K.H. Spencer Pickett

Using the backdrop of an (apparently) extended visit to the West Indies, analogies with key concerns of internal audit are drawn. An unusual and refreshing way of…

Abstract

Using the backdrop of an (apparently) extended visit to the West Indies, analogies with key concerns of internal audit are drawn. An unusual and refreshing way of exploring the main themes ‐ a discussion between Bill and Jack on tour in the islands ‐ forms the debate. Explores the concepts of control, necessary procedures, fraud and corruption, supporting systems, creativity and chaos, and building a corporate control facility.

Details

Managerial Auditing Journal, vol. 13 no. 4/5
Type: Research Article
ISSN: 0268-6902

Keywords

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