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In response to calls for the extension of job design research for the strategic team particularly in high-velocity environment, the purpose of this paper is to investigate the moderating roles of job design in the relationships between project team viewed as human capital resources and new product development (NPD) performance in the short and long run. Based on survey data from 117 NPD project teams in high-technology multinational companies (MNCs) in Thailand, this research finds that job design (i.e. autonomous, task identity and feedback) moderates the effects of human capital resources on NPD project success. In addition, job design works in concert with human capital resources to affect managing NPD project-to-project in the long run. Designing jobs by providing autonomy, identity and feedbacks could trigger the stronger contribution not only for fostering knowledge creation in the NPD project team, but also encouraging intrinsic motivation to commit extra effort to achieve NPD goals. This research contributes to the job design literature of how job design works for NPD project team to achieve short-and long-run NPD performance. Implications for these results are discussed.

Based on survey data from 117 NPD projects in high-technology MNCs in Thailand, this research uses hierarchical regression to do analyses.

This research finds that job design (i.e. autonomous, task identity and feedback) moderates the effects of human capital resources on the short-run project performance. In addition, job design works in concert with human capital resources to affect managing project-to-project in the long run.

This research contributes to the job design literature of how job design works for NPD project team to achieve short-and long-run NPD performance.

Investigating the moderating roles of job design in the relationship between human capital resources and NPD performance in the short and long run.

This paper aims to re‐examine both the short‐ and long‐term performance of UK privatisations, with specific reference to the comparative performance of utility privatisations with non‐utility privatisations and private sector initial public offerings (IPOs).

The paper uses conventional event study methodology to examine the short‐ and long‐run comparative performance of IPOs. The long‐run analysis also adopts a buy‐and‐hold methodological approach.

The results reveal that short‐term under‐pricing is significantly higher in privatisations than in private sector firms, and specifically with the utility firms, and thus supports the hypothesis that governments tend to underprice privatisation issues more due to concerns over reassuring investors regarding potential future intervention. The long‐term results show that privatisations not only consistently out‐perform the benchmark index, but they also tend to out‐perform private sector firms. However, as with the short‐term analysis the results for the non‐utility firms are far less conclusive.

The paper illustrates that IPO performance of privatisations not only can differ from private sector issues, but the type of firm and the aims and objectives of the issuing government are a major factor in both the short‐ and long‐run performance of the firm.

The results highlight the practical issues involved in the relative pricing of privatisations dependent on the type of firm involved.

The explicit separation of privatisation issues by industry type and the comparison with a private sector sample split by both industry sector and by market size.

Purpose – We examine how the ownership and corporate governance of special purpose acquisition companies (SPACs) influence their short- and long-run performance.

Design/methodology/approach – By splitting our sample at the median value of different governance characteristics, we test for differences in short- and long-run performance between the low and high governance groups.

Findings – We find weak evidence of a positive influence of board independence on performance, but no indication that either managerial or institutional ownership is associated with performance.

Research limitations/implications – The study provides further evidence on the open question of how governance characteristics affect firm performance.

Originality/value – We describe the unique conflicts that exist within a SPAC, and the recent evolution of their organizational structure in response to these conflicts.

The objective of this study is to investigate the long‐run performance of initial public offerings (IPOs) in Germany for the period from 1977 to 1995. The paper studies why some IPO firms have substantial positive and others have substantial negative long‐run buy‐and‐hold abnormal returns.

The paper approaches this problem by differentiating the abnormal return patterns by the following criteria: benchmark, year of going public, security design, money raised, market value and magnitude of underpricing.

The empirical findings suggest that the subsequent financing activity in the equity market is the most important factor for determining the future performance of an IPO. This variable separates the out‐performers from the under‐performers. Thus, only successful firms have the opportunity to raise additional funds in the equity market through a seasoned equity offering.

Future research should concentrate on investigating whether the introduction of new stock market segments in Germany has changed the long‐run performance of IPOs.

The results suggest that firms with a superior performance have the opportunity to raise additional equity whereas the poor performers do not get a second chance to sell equity to the public. This means that firms have to earn at least their cost of capital in order to receive additional funding.

Compared to other research, this study explains the significant difference in long‐run performance between two groups of IPOs based on the future financing decision. This finding offers new insights to both academics and practitioners alike.

This paper aims to examine the behavioral timing hypothesis in the context of UK rights issues by seeking to establish and investigate inter-relationships between directors’ trading around rights issues as a proxy for stock mis-valuation and post-issue stock price performance.

The cumulative average abnormal returns, the buy and hold abnormal returns, the standardized residual cross-sectional t-test and the generalized sign test techniques.

The directors do possess short-term timing ability as they can identify profitable trading situations by buying more often before stock outperformance and by selling more often before stock underperformance. In addition, directors trading prior to the rights offering is found to exert an influence on the long-run abnormal returns of the rights-issuing firm, which supports the story that mis-valuation and behavioral timing are empirical.

Other types of seasoned equity offerings rather than rights issues should be included.

The research provides a direct testing for the strong form of market efficiency hypothesis, which enables policymakers to take into account market reaction to directors’ trades and how it is affected by corporate events (e.g. rights issues) when addressing insider trading regulations.

This study extends available literature in the context of both developed and emerging equity markets to testing the behavioral timing hypothesis by testing the inter-relationships between directors’ trading around rights issues and post-issue short- and long-run performance. To the best of the author’s knowledge, this is the first study that examines these inter-relationships in the UK context.

This study aims to examine and analyze the determinants of the stock market performance after firms announce sustainable supply chain management (SSCM) practices.

The study focuses on the long-run stock performance of firms announcing SSCM investments. The authors collected a sample of 280 SSCM announcements from 2010 to 2017 and estimated the buy-and-hold abnormal stock returns up to three years following the announcements. Numerous analyses were conducted to analyze the effect of environmental and social sustainability on long-run stock returns.

The findings show a significantly positive stock performance in the three-year period after announcements. Moreover, the evidence indicates that the post-announcement abnormal stock return has an inverted-U relationship with corporate environmental sustainability but not with corporate social sustainability. Finally, whether firms expand the firms' corporate sustainability strength to SSCM practices or not, firms secure long-run wealth as long as SSCM programs are carried out.

The research focuses on the stock performance of USA public firms to draw conclusions about firms' market performance. This research leaves out the private and born-sustainable firms.

The findings offer firms incentives to invest in SSCM and suggest the magnitude of value provided by each sustainability type to help firms set firms' supply chain (SC) sustainable investment level.

The study is the first to investigate the long-run stock performance of firms announcing SSCM practices and the contribution of different sustainability types to stock performance.

The purpose of this paper is to analyze the long-term performance of construction sector initial public offers (IPO) made in India during 2006–2015. The study aims to compare the performance of the construction sector IPOs with the non-construction sector IPOs and finds the determinants of long-term performance of construction sector IPO with a time horizon of three years. The study also attempts to find out, if the long-term IPO underpricing that has been discussed in the literature, really exists or it is a myth.

The study uses data of IPOs listed on National stock exchange during 2006–2015. In total, 281 IPOs are considered for the study, among which 44 are construction sector IPOs. IPOs anniversary performance of three successive years is calculated from the date of listing, and a random effect panel regression model with clustered robust estimates using the maximum likelihood method is performed to find out the determinants of IPO performance. The data are also tested for multicollinearity, stationarity and heteroscedasticity to ensure the robustness of results.

The results show that in the long-run construction sector IPOs outperform the non-construction sector IPOs, though the performance is below average when compared to market returns. The IPO underpricing is a myth, and IPO underperformance is a reality in India. The performance of construction sector IPOs is driven positively by market return, size of the firm and negatively by liquidity of the firm.

The paper is the first attempt to analyze the performance of construction sector IPOs, and compare it with non-construction sector IPOs. The study uses a random effect panel regression model with robust estimates using the maximum likelihood method to ensure the robustness of results. This is the first time the performance of IPOs is studied with a panel data approach.

This paper provides a thorough examination of Socios.com, a blockchain platform that integrates token sales with the fan experience in the sports industry. The study focuses on three key aspects: the performance, bubble phenomenon and dynamics of fan tokens. The author aims to address important questions that may concern potential supporters and investors. Might sports fans incur financial losses due to their team loyalty? Is the fan token market just a passing trend? Are fan tokens driven by the behaviour of the cryptocurrency market?

This analysis aims to involve several methodologies. The author evaluates the short- and long-term performance of fan tokens by computing first-day and buy-and-hold (abnormal) returns. The author also employs the Phillips, Shi, and Yu's (PSY) real-time bubble detection method to investigate the presence of bubble phenomenon in the fan token market segment. Finally, the author examines the potential dependences between fan tokens, Chiliz and the cryptocurrency market (represented by the CCi30 index) using both Pearson/Kendall correlations and the wavelet coherence approach.

The study presents three notable contributions to the existing literature. First, the author demonstrates that investing in fan tokens to support one's favourite sports teams can lead to financial losses, whereas traders can potentially outperform the market by investing in Chiliz. Second, the author states that fan tokens were a short-lived trend, as evidenced by their decline in value after the bubble burst in 2021. Third, the findings indicate that the fan token market was influenced by the cryptocurrency market and Chiliz during periods of market downturns.

To the best of author’s knowledge, this is the first paper to conduct a comprehensive analysis of the performance, bubble phenomenon and dynamics of the token market fan segment, along with the exclusive on-platform currency, Chiliz.

Holding the number of outside directorships constant, this paper aims to test whether executive directors from superior performing firms are subsequently rewarded with better quality outside directorships.

The quality of new outside directorship appointments is modelled using a two‐step Heckman selection procedure to control for the probability of acquiring a new outside board seat. Outside directorship quality is estimated using an index formed from series of observable firm‐specific characteristics proxying for the following three latent aspects of quality: prestige, reputational risk and monetary rewards. The index aggregates across these three dimensions to produce an overall quality score, with higher scores signifying higher quality directorships.

Tests based on a sample of UK executive directors who subsequently acquire at least one new outside board seat show that the quality of newly acquired outside directorships is positively related to past and contemporaneous performance at the executive's own firm. Recent past performance appears to be a more important determinant of the quality of outside directorships than long‐run performance reputations. However, effects are largely confined to executives that either switch between boards or enter the outside directorship market for the first time.

Findings support the view that the market for outside directorships operates (at least in part) as a meritocracy by rewarding executives from superior performing firms with better quality outside board appointments.

Prior work on the market for outside directorships focuses on explaining cross‐sectional variation in the number of outside board seats held. The paper is the first to measure and model directorship quality.

Appropriate (functional) responses to negative feedback are vital to both the short- and long-run performance of individuals in organizations, and, therefore, for their work groups and organizations. Regrettably, research shows that individuals may not respond appropriately to such feedback when they are motivated by self-enhancement. Moreover, it shows that self-enhancement tendencies are far more common among people in individualistic cultures than among people in collectivistic cultures. In view of this, we present a cross-cultural model of responses to feedback along with theory-based explanations for cultural differences in responses to feedback. In addition, we detail a number of strategies that egocentric people use for the purpose of either maintaining or enhancing their self-esteem when dealing with negative feedback. Finally, we offer suggestions for motivating people in individualistic cultures to respond to negative feedback in functional ways.