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Opinions have been divided on whether there is a rational explanation to the reason behind seasoned equity offerings (SEOs) or whether the explanation lies within the behavioural intricacies attributed to stock market participants. The paper aims to discuss these issues.

This study investigates the long-run performance of firms conducting SEOs on the Johannesburg Stock Exchange (JSE) over the period of 1998–2015, by examining the return performance and operating performance of firms, along with the impact of investor sentiment on these variables.

The results of this study are inconsistent with the existing literature, which argues that the long-run performance of issuing firms signalled an initial underreaction to SEOs buoyed by over-optimistic investors.

Instead, the long-run performance of issuing firms is adequately explained by the rational models centred on the risk-return framework, implying that investors are reacting swiftly to SEOs in an unbiased fashion.

Investor sentiment does not materially influence the long-run share performance or operating performance of issuing firms, casting doubt on the ability of the market timing theory to explain the long-run performance of SEOs. The authors thus find that SEO performance cannot be explained by behavioural-based reasoning, in contrast to some asset pricing studies on the JSE which indicate the role of sentiment in explaining returns.

This paper attempts to seek answers to four questions. Two of these questions have been borrowed (but adapted) from the work of Defee et al.: RQ1. To what extent is theory used in purchasing and supply chain management (P&SCM) research? RQ2. What are the prevalent theories to be found in P&SCM research? Following on from these questions an additional question is posed: RQ3. Are theory‐based papers more highly cited than papers with no theoretical foundation? Finally, drawing on the work of Harland et al., the authors have added a fourth question: RQ4. To what extent does P&SCM meet the tests of coherence, breadth and depth, and quality necessary to make it a scientific discipline?

A systematic literature review was conducted in accordance with the model outlined by Tranfield et al. for three journals within the field of “purchasing and supply chain management”. In total 1,113 articles were reviewed. In addition a citation analysis was completed covering 806 articles in total.

The headline features from the results suggest that nearly a decade‐and‐a‐half on from its development, the field still lacks coherence. There is the absence of theory in much of the work and although theory‐based articles achieved on average a higher number of citations than non‐theoretical papers, there is no obvious contender as an emergent paradigm for the discipline. Furthermore, it is evident that P&SCM does not meet Fabian's test necessary to make it a scientific discipline and is still some way from being a normal science.

This study would have benefited from the analysis of further journals, however the analysis of 1,113 articles from three leading journals in the field of P&SCM was deemed sufficient in scope. In addition, a further significant line of enquiry to follow is the rigour vs relevance debate.

This article is of interest to both an academic and practitioner audience as it highlights the use theories in P&SCM. Furthermore, this article raises a number of important questions. Should research in this area draw more heavily on theory and if so which theories are appropriate?

The broader social implications relate to the discussion of how a scientific discipline develops and builds on the work of Fabian and Amundson.

The data set for this study is significant and builds on a number of previous literature reviews. This review is both greater in scope than previous reviews and is broader in its subject focus. In addition, the citation analysis (not previously conducted in any of the reviews) and statistical test highlights that theory‐based articles are more highly cited than non‐theoretically based papers. This could indicate that researchers are attempting to build on one another's work.

This purpose of this paper is to investigate the determinants of board and audit committee meeting frequency.

The determinants studied are related to the ownership structure and to the board characteristics. The study is conducted in an agency setting featured by high ownership concentration and large insider shareholders. Hypotheses are developed based on agency theory. The empirical evidence is provided by a sample of Italian listed companies. Negative binomial regression is used in the multivariate analysis to test the relationships. Robustness checks provide further empirical support.

The paper finds that insider ownership negatively impacts – either on the board or on the audit committee meeting frequency – whilst the proportion of independent directors in the board has a positive impact. This evidence is consistent with the hypothesis that insider ownership and board independent monitoring are substitute control mechanisms. The findings also show that audit committees are more active in larger firms.

The paper provides an agency theory‐based explanation of the board and the audit committee meeting frequency, in a setting featured by large controlling shareholders.

The purpose of this paper is to provide a theory‐based explanation for the emerging managerial role set within supply chain networks. As managing within supply networks requires a portfolio of capabilities, the emerging managerial role set is explained utilizing a combined knowledge‐based view and relational contracting theoretical perspective. The multiple foci of the manager’s role set within supply networks is associated with unique challenges that are also examined. Based on the analysis of these new challenges for supply chain managers, the managerial and research implications are outlined. In conclusion, specific managerial actions, which are necessary in supply chain networks to engender the development of trust and social capital in supply networks, are explained.

Underpinned by the ability–motivation–opportunity framework, this paper aims to establish a framework of employee creativity antecedents in the hospitality and tourism industries and meta-analytically examine the magnitude of effect sizes as well as the moderating effects of cultural factors.

A meta-analysis using data from 82 independent studies was conducted to explore the hypothesized relationships and verify how they were contingent on uncertainty avoidance and long-term orientation.

The results supported the majority of hypotheses about the relationships between antecedents and creativity. Furthermore, they showed that the effects of intrinsic motivation, positive affect and climate for innovation on creativity in the hospitality and tourism industries were significantly larger than those reported in previous meta-analyses. It also showed that uncertainty avoidance and long-term orientation could buffer or strengthen some associations.

This study generates some essential managerial suggestions for organizations in need of innovation. Managers can learn from the results so as to effectively promote the ability, motivation and opportunity for creativity and merge cultural elements with innovation strategy when they operate globally.

This study provides a theory-based explanation for how employee creativity can be activated. To the best of the authors’ knowledge, this study is a first attempt to meta-analytically test the underlying determinants of employee creativity in the hospitality and tourism industries. Additionally, the search for boundary conditions of the proposed relationships is likely to reconcile existing conflicts and inspire future studies.

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.

Reward research has focussed on level (what individuals are paid) and structure (relationship between different levels of reward). Less emphasis has been given to reward mix decisions, i.e. the relative proportions of each element making up overall reward. This paper seeks to examine the determinants of reward mix.

Interview based research with reward consultants as key organisational observers and participants in reward mix decision making.

Benchmarking has led to the development of reward mix norms. Organisations are under pressure to conform to these norms, moderated by leadership beliefs, the occurrence of events and the extent to which organisations' change capability can overcome strong institutional forces.

The results question agency theory based explanations of reward mix determination and point towards resource dependence and institutional theory perspectives being more suitable theoretical frameworks.

The model developed allows reward managers to consider how the moderating variables, to the dominant mimetic pressure faced, could be manipulated for their firm to allow greater differentiation of the reward mix.

Academically the work contributes to a programme of research into reward determination from a constructionist perspective and aims to provide greater theoretical robustness to the subject. Practically, the findings may prompt practitioners to think more consciously about the drivers of their firm's reward mix. Policy makers may use the stronger theoretical base for understanding the determinants of reward mix choices and the extent to which organisational free choice and institutionally determined choice influence final choices in reward policy decision making.

The purpose of this paper is to investigate the extent to which workplace spirituality (WPS) is related to hospitality supervisors’ organizational commitment (OC) and intention to quit (ITQ), examined through the lens of self-determination theory (SDT).

Based on survey data collected from 190 supervisors employed by a large US hospitality organization, the relationships were examined using confirmatory factor analysis, second-order factor analysis and structural equation modeling.

The results of this study suggest that three dimensions of WPS (i.e. meaning and purpose in their work, sense of community and alignment with organizational values) are positively related to OC and negatively related to ITQ. Moreover, these supervisors’ OC fully mediates the negative relationship of WPS to ITQ.

This study tests the validity and reliability of three WPS dimensions in the hospitality environment. It also provides a theoretical perspective through SDT for explaining how WPS impacts employee work attitudes, which can be used to guide future studies.

Hospitality organizations can benefit from the insights of this research into how WPS can increase the commitment and retention of supervisors, who in turn positively impact front-line workers and customer service quality delivery.

This study provides additional implications for SDT and offers new insights into the emerging field of WPS scholarship. While other studies have tested relationships related to involving these WPS variables, a scarcity of research has been offered in hospitality or with a theory-based explanation of these relationships.

This study aims to integrate research on customer success (CS) management with the service ecosystems perspective of selling to enhance the understanding of the CS management function and the outcomes selling firms should expect based on implementation of CS management.

The authors apply the service ecosystems perspective of selling to describe how CS management is manifested in practice by offering relevant insights and practical industry examples.

Study findings identify relevant ecosystem actors, acting on behalf of the customer, required for the delivery of desirable customer outcomes. Study findings also link the orchestration efforts of CS managers to theory-based tenets for explanation of how CS management facilitates the attainment of competitive advantages via the thickening and thinning of ecosystem crossing points.

Given that the research is conceptual, additional research that empirically examines this framework and the insights presented would lend further credence to the recommendations the authors suggest.

From a practical perspective, the authors present a “Customer Relationship and Solution Innovation Matrix” which integrates necessary value-creating activities that CS managers perform and the coordination with internal actors that CS managers rely on to create value.

Although the practice of CS management is becoming increasingly common, theoretical approaches capable of explaining the function have been lacking. Similarly, while the service ecosystems perspective redefines selling to encompass a broader set of actors than traditionally examined, practical examinations of the theory are limited. The authors address these issues, integrating both research streams for an enhanced understanding of the CS management function through the service ecosystems perspective theoretical lens.

This paper seeks to address a gap in the literature in that it explores community disclosures in annual reports examining annual reports for 5 UK FTSE 100 sectors between, 1974 and 2000.

The sample was bifurcated into types – those with higher public profile and those with lower public profile based on a measure of “proximity to end user”. Two approaches were adopted in the paper: longitudinal volumetric word count mean and frequency of disclosure by company.

The two approaches demonstrated that community disclosure was positively associated with public profile. The findings are consistent with reporting behaviour found in other categories of voluntary disclosure, where disclosure has been found to be associated with the presumed information demands of specific stakeholders. Additionally the research supported a legitimacy theory‐based explanation of cross‐sectional variability in community disclosures. Illustrative disclosures from a number of companies are also presented in the paper.

Further areas of research are suggested by these findings. In addition to articulating the potential value of examining community disclosure patterns in other contexts (e.g. in other sectors and other national situations), and in other media (e.g. internet studies), the findings in this study suggest that there may be value in exploring the ways in which voluntary disclosure responds to other external structural variables.

The contribution of this paper has been to show that a hitherto less‐analysed category of voluntary social disclosure (community disclosure) is cross‐sectionally responsive to the structural vulnerability of companies to issues associated with “general” social concern.