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In this paper we investigate the empirical performance of an alternative beta risk estimator, which is designed to be superior to its conventional counterparts in situations of extreme thin trading. The estimator used is based on the sample selectivity model. The study compares the resultant selectivity-corrected beta to the OLS beta and Dimson Betas. We demonstrate the empirical behaviour of the selectivity corrected beta estimator using a sample of stocks in seven countries from Latin America. The results indicate that the selectivity-corrected beta does correct the downward bias of the OLS estimates and is likely to better estimate stock risk.

The market-based approach to catering for the poor mainly focusses on companies making profits while helping the poor enhance their lives. This concept presented the possibility of there being a ‘fortune’ to make at the Bottom of the Pyramid (BoP) market that was an opportunity for both businesses and consumers. The notion of the BoP market has been widely studied using urban and rural contexts as distinct classifications; yet many argue that the opportunity does not in fact exist in the rural BoP markets. In this chapter the authors examine the prospects in the rural BoP in Sri Lanka through a qualitative study using insights provided by industry practitioners who operate at the BoP level. Findings show that a large percentage of the income of multinational companies is derived from rural BoP markets. Compared to the urban sector, the rural BoP market indicates relatively higher disposable income and is viewed as an attractive market segment by industry practitioners. The findings also show that rural BoP people have more resources and skills than their urban counterparts, although the former commonly have lower levels of education. Moreover, the youth segment in both the urban and rural BoP markets was found to heavily consume social media. The authors conclude their discussion by providing several key proposals for organisations looking to seize opportunities in this market.

This book is an attempt to reflect on what we have learned from financial policies and financial crises in Latin America. The 21 chapters in this volume capture the developments in various ways. They cover theoretical contributions, regional empirical studies, and specific inquiries on Argentina, Brazil, Chile, Colombia, Cuba, Ecuador, Mexico, Peru and Venezuela. The breadth of methodologies implemented suggests that researchers are looking at Latin American financial markets through a variety of lenses. The chapters are divided into 7 parts, including, in Part I, an initial overview. Part II examines the foreign exchange markets in Latin America and their interactions with other markets. Part III discusses dollarization issues in the region. Part IV then takes up the issue of banking in Latin America. Equity and bond markets are considered in Parts V and VI, respectively. Lastly, Part VII considers pension systems in Latin America. Taken as a whole, the 21 chapters seize the excitement of studying Latin America and provide lessons that are applicable around the world.

The concept of (self-)identity has become increasingly central to institutional theory’s microfoundations, yet remains relatively underdeveloped. In this chapter, the authors use an autobiographical interview with a gay Protestant minister in the US to explore the role of narrative conventions in the construction of self-identity. The analysis of this chapter offers the basis for a new understanding of the relation between institutions, self-identity, and agency: how we agentically engage institutions depends not only on who we narrate ourselves to be, but also on how we narrate ourselves into being. This suggests that narration as a specific modality of micro-institutional processes has important performative effects.

Academic and practitioner attention to the constructs of authentic leadership and work engagement and their implications for organizations has grown dramatically over the past decade. Consideration of the implications of these constructs for high-performance human resource practices (HPHRP) is limited, however. In this monograph, we present a conceptual model that integrates authentic leadership/followership theory with theory and research on HPHRP. Then, we apply this model to systematically consider the implications of skill-enhancing, motivation-enhancing, and opportunity-enhancing HR practices in combination with authentic leadership for authentic followership, follower work engagement, and follower performance. We contend that authentic leadership, through various influences processes, promotes HPHRP, and vice versa, to help foster enhanced work engagement. By cultivating greater work engagement, individuals are motivated to bring their best, most authentic selves to the workplace and are more likely to achieve higher levels of both well-being and performance.

Generation Z comprises the newest cohort to enter the workforce, and they not content to be the Millennials’ younger sibling. Born between 1997 and 2012, Gen Z’s identity is shaped by being the first generation to come into a post-9/11 world, by the effects of the Great Recession on their parents’ and families’ economic well-being, by the proliferation of technology and social media, by the specter of school shootings and violence, and by the current period of reckoning with past and present racial injustice. The defining moment for this generation, however, is entering adulthood during or in the wake of a global pandemic that significantly changed both education and industry. The confluence of this new generation of career entrants, the dramatically shifting job forms and careers (e.g., contingent work and the gig economy), and the post-COVID landscape of work provides a rich and compelling research agenda for management and human resource management as Gen Z enters workplace and progresses through their careers. Little academic research has examined this generation and its complexity, but the business community is very interested in preparing for the influx of Gen Z into their organizations and as consumers. Gen Z is diverse, global, and mobile. They are defined by their almost symbiotic relationship with technology, but surprisingly desire in-person connection. This generation was hard hit by the COVID-19 pandemic, in their education, finances, relationships, and well-being. They are a generation in flux. Future research directions are explored and presented.