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The temporality of performance measurement systems has been claimed to affect actors’ time orientation, such as that of listed company managers. The purpose of this paper is to explore this view.

The study uses constructivist data gathered from executives in one listed and one non-listed company.

The study shows that the research on performance measurement is based on a linear-quantitative view on time that assumes that humans orient towards the future from one point, the present; this view excludes other time-related constructs, particularly the past, and highlights a choice between the short term and the long term, idealising the long term. It is shown that the performance measurement of non-listed company executives is constructed through past-based, present-based and future-based rationalities: executives acknowledge the past as a basis for present and future performance, present actions as shaping future performance and future plans and performance targets as bases for present actions. Listed company executives’ performance measurement is constructed predominantly through the present-based time rationality.

“The orientation from the present” and the “short” and “long terms” could be enhanced with time rationalities.

The evaluation periods within performance measurement systems do not determine the time orientations of the actors subjected to those systems; time rationalities could be considered when designing such systems.

The paper provides a novel view on performance measurement and time.

A key component of evolutionary models in economics and organizational research, the notion of organizational selection is rarely the object of inquiry. It generally suggests instead a neutral and unquestioned process, a mechanism explaining organizational success and survival. In this chapter, we explore the variation of selection; we problematize the notion of selection and do an exercise in conceptual genealogy. We differentiate between three patterns of firm selection: Darwinian, strategic, and institutional and define the associated “embedded rationalities” that buttress those different selection patterns. We illustrate how selection differed and evolved through time by exploring two empirical cases – France and the United States. Building upon our empirical exploration, we stress some important contributions for three theories familiar to strategy scholars – resource-based view, population ecology, and institutional theory. We also point to some consequences for empirical research and suggest new directions for future work on the dynamics of organizational action.

The purpose of this paper is to explore specific instances of junior doctors' responsibility. Learning is often understood to be a prerequisite for managing responsibility and risk but this paper aims to argue that this is insufficient because learning is integral to the management of responsibility and risk.

This is a “collective” case study of doctors designed to focus on the interrelationships between individual professionals and complex work settings. The authors focussed on two key points of transition: the transition to beginning clinical practice which is the move from medical student to foundation training (F1) and the transition from generalist to specialist clinical practice.

Responsibility in clinical settings is immediate, concrete, demands response and (in) action has an effect. Responsibility is learnt and is not always apparent; it shifts depending on time of day/night and who else is present. Responsibility does not necessarily increase incrementally and can decrease; it can be perceived differently by different actors. Responsibility is experienced as personal although it is distributed.

This detailed examination of practice has enabled the authors to foreground the particularities, urgency and fluidity of everyday clinical practice. It recasts their understandings of responsibility – and managing risk – as involving learning in practice. This is a critical insight because it suggests that the theoretical basis for the current approach to managing risk and responsibility is insufficient. This has significant implications for policy, employment, education and practice of new doctors and for the management of responsibility and risk.

One stream of research has claimed share price to be long‐term oriented, whereas, in contrast, another has found it to be short‐term oriented. Through in‐depth analysis, this study aims to reveal the grounds for each of these two claims by studying the time‐related constructs of two parties: executives of a company and outsider commentators of that company.

The study employs a social constructionist approach and incorporates the sociology of time in the analysis of case data focused on a publicly quoted company. Data drawn from outsider commentators provide additional focus.

The executives studied in the publicly‐quoted company construct share price as long‐term oriented through three processes: linguistic, practice‐oriented functional, and morality‐related functional. However, these executives construct time through a present‐based rationality, which means that effective and efficient present actions are assumed to form the basis for a successful future. Outsider commentators indicate two myopia‐related risks in this rationality: current, present day pressing issues are not deliberated upon in a wider framework of long‐term plans, and it is not possible to relinquish the present and focus only on the future, free from present concerns. The long‐term orientation of share price is constructed by executives as instrumental through processes that are tied to the present‐based rationality with its myopia‐related risks.

By showing the long and short time orientations of share price, the paper provides grounds for a subsequent analysis of the origins of these orientations within the minds of actors.

The study provides guidance on avoiding myopia when using share price‐related compensation systems.

The study contributes to the performance measurement and corporate governance literatures by analysing, for the first time, share price from the perspective of executives themselves. In addition, the views of outsider commentators are considered.

Drawing on recent research, which recognises the situated nature of accounting practices, the purpose of this paper is to extend the Burns and Scapens (B&S) framework and to illustrate its potential for studying the situated nature of management accounting practices. The extended framework distinguishes field-level institutions (which the authors term broader institutions) and institutions within the organisation (which the authors term local institutions). To extend the B&S framework the authors draw on recent debates in institutional theory, both new institutional sociology, where the focus is now on the institutional logics perspective, and old institutional economics, where there has been debate about the relationship between institutions and actions.

While the B&S framework focussed on institutions within the organisation, the extended framework explicitly recognises institutions which extend beyond the boundaries of the organisation. It also recognises the way in which rationality and deliberation are related to human agency, as well as the power of specific individuals and/or groups to impose new rules. To illustrate the usefulness of the extended framework the research note draws on a recent study of performance measurement in the Accounting and Finance Groups of the Universities of Groningen and Manchester.

It is argued that local institutions within the organisation combine with the broader institutions to shape the forms of situated rationality which are applied by individuals and groups within the organisation. Different groups within an organisation (e.g. engineers and accountants) can have different forms of situated rationality, and contradictions in these forms of rationality can be a source of institutional change or resistance to change within the organisation, and can explain why accounting changes can by implemented in different ways in different organisations and also in different parts of the same organisation.

The extended framework will be useful for studying: (1) how situated rationalities evolve within an organisation, more specifically how they are shaped by both local and broader institutions; and (2) how prevailing situated rationalities shape the responses to accounting change.

This chapter conducts a systematic comparison of behavioral economics’s challenges to the standard accounts of economic behaviors within three dimensions: under risk, over time, and regarding other people. A new perspective on two underlying methodological issues, i.e., inter-disciplinarity and the positive/normative distinction, is proposed by following the entanglement thesis of Hilary Putnam, Vivian Walsh, and Amartya Sen. This thesis holds that facts, values, and conventions have inter-dependent meanings in science which can be understood by scrutinizing formal and ordinary language uses. The goal is to provide a broad and self-contained picture of how behavioral economics is changing the mainstream of economics.

In the nineteenth century, the comparative method was seen as essential, if not fundamental, to growth and production of knowledge in the human sciences. However, over time the categories that formed the basis of nineteenth century comparative research (civilized: savage for example) were discredited. And so, in time, was the comparative method itself.

This paper aims to examine our current knowledge of how searchers perceive and react to the possibility of missing potentially important information whilst searching the web is limited. The study reported here seeks to investigate such perceptions and reactions, and to explore the extent to which Simon's “bounded rationality” theory is useful in illuminating these issues.

Totally 37 academic staff, research staff and research students in three university departments were interviewed about their web searching. The open‐ended, semi‐structured interviews were inductively analysed. Emergence of the concept of “good enough” searching prompted a further analysis to explore the extent to which the data could be interpreted in terms of Simon's concepts of “bounded rationality” and “satisficing”.

The results indicate that the risk of missing potentially important information was a matter of concern to the interviewees. Their estimations of the likely extent and importance of missed information affected decisions by individuals as to when to stop searching – decisions based on very different criteria, which map well onto Simon's concepts. On the basis of the interview data, the authors propose tentative categorizations of perceptions of the risk of missing information including “inconsequential” “tolerable” “damaging” and “disastrous” and search strategies including “perfunctory” “minimalist” “nervous” and “extensive”. It is concluded that there is at least a prima facie case for bounded rationality and satisficing being considered as potentially useful concepts in our quest better to understand aspects of human information behaviour.

Although the findings are based on a relatively small sample and an exploratory qualitative analysis, it is argued that the study raises a number of interesting questions, and has implications for both the development of theory and practice in the areas of web searching and information literacy.

The paper focuses on an aspect of web searching which has not to date been well explored. Whilst research has done much to illuminate searchers' perceptions of what they find on the web, we know relatively little of their perceptions of, and reactions to information that they fail to find. The study reported here provides some tentative models, based on empirical evidence, of these phenomena.

The authors propose novel tests for the detection of Markov switching deviations from forecast rationality. Existing forecast rationality tests either focus on constant deviations from forecast rationality over the full sample or are constructed to detect smooth deviations based on non-parametric techniques. In contrast, the proposed tests are parametric and have an advantage in detecting abrupt departures from unbiasedness and efficiency, which the authors demonstrate with Monte Carlo simulations. Using the proposed tests, the authors investigate whether Blue Chip Financial Forecasts (BCFF) for the Federal Funds Rate (FFR) are unbiased. The tests find evidence of a state-dependent bias: forecasters tend to systematically overpredict interest rates during periods of monetary easing, while the forecasts are unbiased otherwise. The authors show that a similar state-dependent bias is also present in market-based forecasts of interest rates, but not in the forecasts of real GDP growth and GDP deflator-based inflation. The results emphasize the special role played by monetary policy in shaping interest rate expectations above and beyond macroeconomic fundamentals.

Since the 2008 financial crisis, state retrenchment has added to the harshness of life for marginalised groups globally. This UK study suggests community activism may promote human capacity and resilience in innovative ways. The purpose of this paper is to address the relationship between non-normative understandings of time and resilience.

This research paper is based on qualitative study of the work of a third sector organisation based in an urban area in the UK which provides training in mediation skills for community mediators (CMs). These CMs (often former “gang members”) work with young people in order to prevent conflict within and between groups of white British, South Asian and Roma heritage.

CMs are reflexively developing temporalities which replace hegemonic linear time with a situationally “open time” praxis. The time “anomalies” which characterise the CMs’ engagement appear related to aesthetic rationality, a form of rationality which opens up new ways of thinking about resilience. Whether CMs’ understandings and enactments of resilience can point to broader changes of approach in the delivery of social care is considered.

This paper contributes to critical understandings of resilience that challenge traditional service delivery by pointing to an alternative approach that focusses on processes and relationships over pre-defined outcomes.

Hegemonic understandings of time (as a linear process) can delegitimise potentially valuable understandings of resilience developed by members of marginalised communities.

This paper is original in developing a critical analysis of the relationship between resilience and time.