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The study assess the selection ability and market timing skills of mutual fund and unit trust managers in Ghana.

The study uses an improved survivorship bias-free dataset of yearly after-fee returns of all mutual funds and unit trusts operating in Ghana from January 2011 to December 2019, cumulating in nine years of quantitative fund data. The authors assess Mutual funds and Unit trusts that ever existed, “alive” or “dead,” over the sample period in the study. The authors construct factor loadings to enable the application of multifactor models in the analysis. The authors apply the unconditional versions of the Jensen alpha, Fama-French three-factor, and Carhart four-factor models to determine the selection ability and market timing skills of 32 mutual funds and 17 unit trusts. The authors deploy HAC-consistent robust standard errors to the OLS estimations to subdue the effect of heterogeneity and autocorrelation.

The results indicate that, on average, mutual funds and unit trust managers possess market timing skills but no selection ability. When the results are decomposed into fund types, fixed-income and balanced mutual fund managers possess selection ability and market timing skills.

To the authors' best knowledge, this study is the earliest to examine the selection ability and market timing skills of both mutual fund and unit trust managers in Sub-Saharan Africa (SSA). It is also the earliest to construct factor loadings for the Ghana stock market.

The purpose of this paper is to analyze firms and employees’ strategies in illegitimate institutional contexts in which non-governmental armed groups enforce illegitimate activities in firms and civil society. The aim is to recognize employees as key and effective players in implementing ambidextrous organizational and human resource management (HRM) strategies. We know little regarding employee norms and behaviors in complying with global market standards while surviving in environments characterized by high levels of civil violence and crime.

This paper presents an explorative, qualitative study based on 65 semi-structured interviews and conversations with employees in Colombia and Mexico over four years.

The findings of this paper indicate that the presence of non-governmental armed groups forces firms, HR departments and front-line managers to strategically exploit security measures inspired by employees’ informal institutions to protect firm assets while implementing innovative exploration strategies to improve employee work conditions, survive in unsafe environments and remain internationally competitive.

The findings suggest that organization, HRM and employee ambidexterity are organizational advantages in illegitimate institutional contexts. This study contributes to the literature linking ambidexterity and institutional theory by emphasizing informal institutions when examining employment relationships in unsafe environments.

o objetivo deste trabalho é fazer uma análise das estratégias de empresas e empregados em contextos institucionais ilegítimos onde grupos armados afetam empresas e sociedade civil através da implementação de atividades fora da lei. O objetivo é reconhecer aos empregados como funcionários-chave e efetivos na implementação de estratégias de ambidestria organizacional e da gestão de recursos humanos (HRM). Conhecemos poucas informações sobre as políticas, estratégias, práticas e comportamentos dos funcionários para cumprir com os padrões globais, as suas responsabilidades e funções no cargo, enquanto procuram sobreviver em simultâneo em contextos que têm um alto nível de violência e criminalidade contra a população.

Este artigo apresenta um estudo exploratório sob uma abordagem qualitativa com base em 65 entrevistas semiestruturadas e conversas com funcionários na Colômbia e no México ao longo de um período de quatro anos.

Nossas descobertas indicam que os grupos armados não governamentais têm forçado organizações, setores de recursos humanos e gerentes da linha de frente a explorar estrategicamente medidas de segurança inspiradas nas instituições informais para proteger os ativos da empresa. Além disso, as empresas têm adotado estratégias exploratórias inovadoras para melhorar as condições de trabalho dos funcionários, lidar e sobreviver em ambientes de risco e continuar sendo competitivas internacionalmente.

Nossas descobertas sugerem que a organização, a gestão dos recursos humanos e ambidestria dos funcionários são uma vantagem organizacional em contextos institucionais ilegitimos. Nosso estudo tem como objetivo contribuir para a literatura que liga a ambidestria com a teoria institucional com o fim de destacar o papel das instituições informais na análise das relações de trabalho em ambientes inseguros.

Instituições Informais, instituições ilegítimas, Ambidestria, Gupos armados não-governamentais, Colômbia, México

Tipo de artículo – Trabajo de pesquisa

el propósito de este trabajo es analizar las estrategias de las empresas y los empleados en contextos institucionales ilegítimos en los que los grupos armados afectan a las empresas y la sociedad civil mediante la implementación de actividades al margen de la ley. El objetivo es reconocer a los empleados como actores clave y efectivos en la implementación de estrategias de ambidestreza organizacional y de gestión de recursos humanos (HRM). Sabemos poco sobre las políticas, estrategias, prácticas y comportamientos de los empleados para cumplir con los estándares mundiales, sus responsabilidades y funciones en el cargo y al mismo tiempo sobrevivir en entornos caracterizados por un alto grado de delincuencia y violencia hacia la población civil.

este documento presenta un estudio exploratorio bajo una perspectiva cualitativo basado en 65 entrevistas semiestructuradas y conversacionales con empleados en Colombia y México durante un período de cuatro años.

nuestros hallazgos indican que grupos armados al margen de la ley han obligado a organizaciones, departamentos de recursos humanos y gerentes de primera línea a explotar estratégicamente medidas de seguridad inspiradas en instituciones informales para proteger activos de la empresa mientras implementan estrategias exploratorias innovadoras para mejorar las condiciones de trabajo de los empleados, sobrellevar y sobrevivir en entornos de riesgo e inseguros y, a la par, seguir siendo competitivos en el plano internacional.

nuestros hallazgos sugieren que la organización, la gestión de recursos humanos y la ambidestreza de los empleados son una ventaja organizativa en contextos institucionales ilegítimos. Nuestro estudio tiene como objetivo contribuir a la literatura que vincula la ambidestreza y la teoría institucional destacando las instituciones informales para examinar las relaciones en entornos inseguros.

Instituciones informales, Instituciones ilegítimas, Ambidestreza, Grupos armados no gubernamentales, Colombia, México

Trabalho de investigação

The purpose of this study is to cover the influence of selected printing parameters at a macro and micro-geometrical level, focusing on the dimensions, geometry and surface of printed parts with short carbon fibers reinforced PLA. For this case study, a hollow cylindrical shape is considered, aiming to cover the gap detected in previous works analyzed.

Nowadays, additive manufacturing plays a very important role in the manufacturing industry, as can be seen through its numerous research and applications that can be found. Within the engineering industry, geometrical tolerances are essential for the functionality of the parts and their assembly, but the variability in three-dimensional (3D) printing makes dimensional control a difficult task. Constant development in 3D printing allows, more and more, printed parts with controlled and narrowed geometrical deviations and tolerances. So, it is essential to continue narrowing the studies to achieve the optimal printed parts, optimizing the manufacturing process as well.

Results present the relation between the selected printing parameters and the resulting printed part, showing the main deviations and the eligible values to achieve a better tolerance control. Also, from these results obtained, we present a parametric model that relates the geometrical deviations considered in this study with the printing parameters. It can provide an overview of the piece before printing it and so, adjusting the printing parameters and reducing time and number of printings to achieve a good part.

The main contribution is the study of the geometry selected under a 3D printing process, which is important because it considers parts that are created to fit together and need to comply with the required tolerances. Also, we consider that the parametric model can be a suitable approach to selecting the optimal printing parameters before printing.

This study aims to investigate the feasibility of employing a multi-objectives integer-programming model for effective allocation of resources for cyberfraud mitigation. The formulated objectives are the minimisation of the total allocation cost of the anti-fraud capacities and the maximisation of the forensic accounting capacities in all cyberfraud incident prone spots.

From the literature survey conducted and primary qualitative data gathered from the 17 licenced banks in South Africa on fraud investigators, the suggested fraud investigators are the organisation’s finance department, the internal audit committee, the external risk manager, accountants and forensic accountants. These five human resource capacities were considered for the formulation of the multi-objectives integer programming (MOIP) model. The MOIP model is employed for the optimisation of the employed capacities for cyberfraud mitigation to ensure the effective allocation and utilisation of human resources. Thus, the MOIP model is validated by a genetic algorithm (GA) solver to obtain the Pareto-optimum solution without the violation of the identified constraints.

The formulated objective functions are optimised simultaneously. The Pareto front for the two objectives of the MOIP model comprises the set of optimal solutions, which are not dominated by any other feasible solution. These are the feasible choices, which indicate the suitability of the MOIP to achieve the set objectives.

The results obtained indicate the feasibility of simultaneously achieving the minimisation of the total allocation cost of the anti-fraud capacities, or the maximisation of the forensic accounting capacities in all cyberfraud incident prone spots – or the trade-off between them, if they cannot be reached simultaneously. This study recommends the use of an iterative MOIP framework for decision-makers which may aid decision-making with respect to the allocation and utilisation of human resources.

The originality of this work lies in the development of multi-objectives integer-programming model for effective allocation of resources for cyberfraud mitigation.

This study investigates the link between diversity in management and CEO positions and firm innovation. The purpose of this paper is to examine the effect that women and ethnic diversity in management and CEO positions have on the development of outstanding innovation in firms.

This paper conducts an empirical analysis to investigate these relationships over time using a large panel database of 1,345 publicly US traded firms.

Results revealed that gender and ethnic diversity at all levels of management exhibited a robust positive association with superior innovation competence. This finding remains robust when alternative proxies for innovation are employed. In contrast, the authors found that women and ethnic minorities at the CEO level had no significant influence.

Considering an output measure of innovation, the authors explore the effect of gender and ethnic minority groups in management positions as well as at the CEO level, rather than focusing only on top management teams or board of directors. The authors offer new practical insights regarding the manager selection process that are also useful to support public policy initiatives.

This paper aims to define the efficiency achieved by urban transport companies in Spain concerning the resources they use, considering the type of management used for implementation, public-private, and size.

This study consisted of an analysis of the efficiency of 229 public-private urban transport operators during the period 2012–2021 using Data Envelopment Analysis, the Malmquist Index and inference estimators to determine productivity, efficiency change into Pure Technical Efficiency Change (PTECH), and scale efficiency change.

Based on the efficiency analysis, the authors concluded that of the 229 companies studied, more than 35 were inefficient in all analysed periods. Considering the sample used, direct management is considered significantly more efficient. It cannot be concluded that the size of these companies influences their efficiency, as the data show unequal development behaviours in the studied years.

This study provides arguments on whether there is a significant difference between the two types of management in the urban transport sector. It also includes firm size as a study variable, which has not been previously considered in other studies related to urban transport efficiency. Efficiency should be a crucial factor in determining funding allocation in this sector, as it encourages operators to optimize and improve their services.

This paper aims to analyze the influence of gender diversity on the relationship between corporate social responsibility (CSR), corporate governance (CG) and economic and financial performance of Brazilian publicly traded companies.

The sample comprises 68 non-financial public companies comprising the IBX100 index of BM&FBOVESPA. For that, it was used panel data modeling, correlation and ranking by TOPSIS method.

The results suggest a significant relationship between CG and economic–financial performance when mediated by gender diversity. This relationship was not observed between CSR and economic–financial performance. Thus, it can be concluded that in a diversified board of directors, in terms of gender, better monitoring of managers can occur because of the increase in their independence in decisions, as well as performance increase. These results diverge from the literature on the influence of women’s participation in corporate boards in CSR. It is assumed that this result is because of the fact that the participation of women is recent in Brazil.

The main limitations are the number of companies analyzed, the choice of ISE index to verify the CSR variable and the metric used to verify the CG mechanisms.

In general, this research contributes to the literature of the area, especially in Brazil, in confirming that the mediating variable gender diversity makes the relationship between CG and performance more significant.