Search results

We take Cumulative Prospect Theory (CPT) seriously by rigorously estimating structural models using the full set of CPT parameters. Much of the literature only estimates a subset of CPT parameters, or more simply assumes CPT parameter values from prior studies. Our data are from laboratory experiments with undergraduate students and MBA students facing substantial real incentives and losses. We also estimate structural models from Expected Utility Theory (EUT), Dual Theory (DT), Rank-Dependent Utility (RDU), and Disappointment Aversion (DA) for comparison. Our major finding is that a majority of individuals in our sample locally asset integrate. That is, they see a loss frame for what it is, a frame, and behave as if they evaluate the net payment rather than the gross loss when one is presented to them. This finding is devastating to the direct application of CPT to these data for those subjects. Support for CPT is greater when losses are covered out of an earned endowment rather than house money, but RDU is still the best single characterization of individual and pooled choices. Defenders of the CPT model claim, correctly, that the CPT model exists “because the data says it should.” In other words, the CPT model was borne from a wide range of stylized facts culled from parts of the cognitive psychology literature. If one is to take the CPT model seriously and rigorously then it needs to do a much better job of explaining the data than we see here.

Common literature review methods such as systematic review and narrative review are poorly suited to the investigation of complex management phenomena. Systematic reviews are highly driven by protocol and procedure, and are oft-criticized as reductive and poorly equipped to examine the interaction between phenomena and context, nonlinear processes, and empirical outcomes that are less predictable. Narrative reviews, on the other hand, are pluralistic and iterative and thus better suited to descriptions of the complex and unpredictable; however, they tend to lack methodological transparency, trustworthiness, and pragmatism in application. The “realist synthesis” approach to literature review can be seen as the middle-ground between these two common methods, offering both methodological rigor alongside flexibility and nuance. Realist synthesis takes an explanatory frame, with a focus on unearthing the theorized causal mechanisms at play beneath a phenomenon of interest.

This study aims to describe and evaluate the impact of a participatory age-management intervention on the knowledge, awareness and engagement of line managers and their HR partners from six health-care organizations in Sweden.

The learning workshops consisted of lectures, discussions, feedback and exchange of experiences with colleagues and invited experts. A total of 19 participants were interviewed six months after the final workshop, and qualitative thematic analysis was used to analyze the transcribed interviews.

The intervention design produced promising results in improving line managers’ and HR partners’ knowledge and increasing awareness and engagement. On some occasions, the participants also initiated changes in organizational policies and practices. However, the intervention primarily became a personal learning experience as participants lacked resources and mandates to initiate change in their daily work. To stimulate engagement and change at the organizational level, the authors believe that an intervention must receive support from higher managers, be anchored at the workplace and be aligned with the organization’s goals; moreover, participants must be provided with sufficient resources and mandates to coordinate the implementation of age-management strategies.

Prolonged working life policies and skill shortages are affecting organizations and societies, and for many employers, there are strong reasons for developing strategies to attract, recruit and retain older workers.

This study offers lessons and guidance for future workplace interventions to attract, recruit and retain older workers.

Education policies in the United States reinforce social stratification by prioritizing and normalizing middle-class whiteness in schools (Leonardo, 2007; Picower, 2009). The teacher labor market has also become more feminized, making white middle-class women paragons of exemplary educators (Rury, 1989; Tolley & Beadie, 2006). These sociopolitical and historical factors continue to play out in the current U.S. education workforce where 80% teachers are white and 76% of teachers are female (Hussar et al., 2020). Meanwhile, student demographics are shifting with students of color comprising over 50% of the public student population (de Brey et al., 2019). Diversifying the educator pipeline is a well-documented strategy to improve educational outcomes for all students, specifically students of color, and to achieve greater equity and inclusion in public education. However, the retention and promotion of educators of color remains a critical and complex issue.

Thus, looking at the intersection of race and gender in the education workplace, the purpose of this chapter is to highlight the experiences and expertise of women K-12 educators of color to identify best practices for career development. Applying Psychology of Working Theory (PWT) and utilizing modified meta-synthesis methodology, the chapter highlights the experiences of Black, Latinx, Asian American, and Indigenous/Native American women K-12 principals and superintendents to (1) thematize and conceptualize how women of color define their work in education spaces through a PWT lens and (2) understand how PWT themes can illuminate ways to build more diverse and inclusive career pathways for women of color leaders.

This perspective article provides a compact view on past and promising future research of family business in tourism/hospitality research, an industry that is dominated and driven by family firms.

This article draws on a review of key literature from family business and tourism/hospitality research, and synchronizes this literature for understanding the groundings and development of the field.

The article finds that there are peculiar research gaps and needs concerning gender roles, sub-industries/family networks, later generation conflicts as well as differences in life cycle stages between emerging and developing countries.

This article summarizes the state of the art of research for family business in tourism/hospitality and provides a novel agenda for theory advancement and research of practical relevance.

COVID-19 accelerated change within the UK retail market. It encouraged the growth of online shopping, providing the necessary demand for grocers to invest in their operations, and transformed the economics of their businesses. As innovative new business models emerged, some existing retailers collapsed leading to significant changes on the high street. Landlords were also affected. As some retail tenants struggled to pay their rents, other parts of the sector prospered and sought additional warehouse capacity to cope with rising demand. Not only does this illustrate how different parts of the retail sector faired during COVID-19, but it also demonstrates how the move online has resulted in the emergence of new opportunities.

This study aims to explore how managers exercise agency in strategic investment decisions (SIDs) by drawing on their knowledgeability of the strategic context. Specifically, the authors address the role of position–practice relations and irresistible causal forces in this conduct.

The authors examine SID-making (SIDM) practices in four case organisations operating in highly competitive markets, conducting interviews with managers at various levels and analysing company documents. Drawing on strong structuration theory, the authors show how managerial decision makers draw upon their knowledge of organisational context when exercising agency in SIDs.

The authors provide insights into how SIDM behaviour, specifically agents’ conduct, is shaped by a combination of position–practice relations and the agents’ comprehension of their organisation’s context.

The authors extend the SIDM literature by surfacing the issue of how actors’ conjuncturally-specific knowledge of external structures shapes the general dispositions they draw on in exercising agency in practice.

The authors extend the SIDM literature by surfacing the issue of how actors’ conjuncturally-specific knowledge of external structures shapes the general dispositions they draw on in exercising agency in practice. Particularly, the authors contribute to this literature by identifying irresistible causal forces and illuminating why actors might not resist in SIDM processes, despite having the potential to do so.

The globalisation of markets, emerging concepts of sustainable development, and circular economy have defined the boundaries within which organisations must compete and address the needs of key stakeholders. As circumstances change, boundaries are often replaced by the relationships between companies and the communities they serve. Consequently, strategy has become a central aspect of sustainable leadership and the foundation for implementing strategic management in a dynamic system of relationships. Every company is born and grows within social and economic ecosystems. Drawing on the metaphor of biology, ecosystems are described as dynamic interconnections among various elements that influence and foster entrepreneurship. Interconnections between players (such as marketplaces, organisations, governments, and universities) create a flow of expertise, abilities, knowledge, experience, and tangible resources. Economic and social ecosystems involve various actors and components that continuously coexist and interact, leading to the creation of numerous mutual relationships. Consequently, it is crucial for managers to gain a comprehensive understanding of the internal and external environments. Various decision-making tools and strategies can be used to achieve this goal. These tools were developed to assist managers, researchers, and consultants in making informed decisions under complex scenarios. This chapter presents several decision-making strategies and tools, including the Boston Consulting Group (BCG) matrix, General Electric (GE) matrix, Balanced Scorecard (BSC), PEST, PESTEL analysis, and SWOT analysis.

Investors who can transfer their savings to investments in a well-regulated market benefit not only themselves but also economic development. Hence, it is crucial for fund owners to evaluate their stock market investment decisions. The goal of the study is to understand which model determines the asset returns most efficiently. In this regard, the validity of single and multi-index asset pricing models (capital asset pricing model-CAPM and Fama–French models) has been examined in the Turkish Stock Exchange for 2009–2020, with the quantile regression (QR) approach.

On 18 portfolios comprised of quoted stocks in the Istanbul Stock Exchange 100 (ISE-100/BIST-100), we test the CAPM, the Fama and French three factor model (FF3) and the Fama and French five factor model (FF5). Empirical analyses have been carried out via QR approach regressing the portfolios' average weekly excess returns on risk premium/market factor (Rm-Rf), firm size, book value/market value (B/M), profitability and investments factors. QR estimation has been employed since QR is more effective and provides a better definition of the distribution’s tails.

Our empirical findings have revealed that the average excess weekly returns can be explained more strongly via CAPM. Moreover, Fama and French models are expected to give more reliable result with more data, whereas the market premium would give robust results for the Turkish Capital Market.

Individuals investing in financial assets must find the price model that best fits the market. The return can be approximated in the most appropriate manner using the right variables.

The study differs from other research by comparing the asset pricing models via examining the assets' weekly returns with QR in the Istanbul Stock Exchange 100 (ISE-100).

The widespread usage of artificial intelligence (AI) is prompting a number of ethical issues, including those involving concerns for fairness, surveillance, transparency, neutrality and human rights. The purpose of this manuscript is to explore possibility of developing cognitive morality in AI systems.

This is explorative research. The manuscript investigates the likelihood of cognitive moral development in AI systems as well as potential pathways for such development. Concurrently, it proposes a novel idea for the characterization and development of ethically conscious and artificially intelligent robotic machines.

This manuscript explores the possibility of categorizing AI machines according to the level of cognitive morality they embody, and while doing so, it makes use of Lawrence Kohlberg's study related to cognitive moral development in humans. The manuscript further suggests that by providing appropriate inputs to AI machines in accordance with the proposed concept, humans may assist in the development of an ideal AI creature that would be morally more responsible and act as moral agents, capable of meeting the demands of morality.

This manuscript has some restrictions because it focuses exclusively on Kohlberg's perspective. This theory is not flawless. Carol Gilligan, one of Kohlberg's former doctoral students, said that Kohlberg's proposal was unfair and sexist because it didn't take into account the views and experiences of women. Even if one follows the law, they may still be engaging in immoral behaviour, as Kohlberg argues, because laws and social norms are not perfect. This study makes it easier for future research in the field to look at how the ideas of people like Joao Freire and Carl Rogers can be used in AI systems.

It is an original research that derives inspiration from the cognitive moral development theory of American Professor named Lawrence Kohlberg. The authors present a fresh way of thinking about how to classify AI systems, which should make it easier to give robots cognitive morality.