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Article
Publication date: 15 July 2019

Tobias Brünner

This study aims to investigate – theoretically and empirically – if call auctions incorporate asymmetric information into prices.

Abstract

Purpose

This study aims to investigate – theoretically and empirically – if call auctions incorporate asymmetric information into prices.

Design/methodology/approach

First, this study introduces a new model of price formation in a call auction with insider information. In this call auction model, insider trading gives rise to an asymmetric information component of transaction costs. Next, this study estimates the model using 20 stocks from Euronext Paris and investigates if the asymmetric information component is present.

Findings

The theoretical analysis reveals that call auctions incorporate asymmetric information into prices. The empirical analysis finds strong evidence for the asymmetric information component. Testable implications provide further support for the model.

Practical implications

Call auctions have recently been proposed as an alternative to continuous limit order book markets to overcome problems associated with high-frequency trading. However, it is still an open question whether call auctions efficiently aggregate asymmetric information. The findings of this study imply that call auctions facilitate price discovery and, therefore, are a viable alternative to continuous limit order book markets.

Originality/value

There is no generally accepted measure of trading costs for call auctions. Therefore, the measure introduced in this study is of great value to anyone who wants to quantify trading costs in call auctions, understand the determinants of trading costs in call auctions or compare trading costs and their components between continuous markets and call auctions. This study also contributes to the literature devoted to estimating the probability of information-based trading.

Details

Studies in Economics and Finance, vol. 36 no. 3
Type: Research Article
ISSN: 1086-7376

Keywords

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Book part
Publication date: 1 July 2013

Darren Good, Bauback Yeganeh and Robin Yeganeh

Traditional clinical psychological practices have often been adapted for the context of executive coaching. Cognitive behavioral therapy (CBT) in particular is the most…

Abstract

Traditional clinical psychological practices have often been adapted for the context of executive coaching. Cognitive behavioral therapy (CBT) in particular is the most scientifically supported psychological modality. CBT like other practices has been used in coaching as cognitive behavioral coaching but rarely discussed more explicitly for the executive population. Here, we offer a specific adaptation – cognitive behavioral executive coaching (CBEC) – and suggest that it presents a flexible structure that can meet the multiple agendas that are framed for executive coaching. Additionally, the core features of CBT and CBEC in particular satisfy the major needs of executives in coaching arrangements. We conclude by demonstrating a CBEC process model for coaching the high-performing executive.

Details

Research in Organizational Change and Development
Type: Book
ISBN: 978-1-78190-891-4

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Article
Publication date: 2 May 2017

Valter Cantino, Alain Devalle, Damiano Cortese, Francesca Ricciardi and Mariangela Longo

The purpose of this paper is to develop an original six-phase model describing entrepreneurial learning in the transition of place-based enterprises toward a sustainable…

Abstract

Purpose

The purpose of this paper is to develop an original six-phase model describing entrepreneurial learning in the transition of place-based enterprises toward a sustainable exploitation of natural common resources (commons).

Design/methodology/approach

The six-phase model proposed by this study explains the learning processes involving place-based enterprises through two important existing theories: adaptive co-management and Lachmann’s evolutionary, embedded theory of entrepreneurship. The proposed model integrates these two theories on the basis of a longitudinal case study on the fishing enterprises in an Italian marine protected area (MPA).

Findings

In the case study, the success factors identified by the adaptive co-management literature proved important in enabling an embedded entrepreneurial learning process consistent with Lachmann’s view. The case analysis allowed the authors to cluster these learning processes around six phases. Further, even if traditional fishing is not knowledge-intensive, this case shows the transition to a sustainable business model required intense efforts of educated institutional work and scientific research. Interestingly, the key learning processes were enabled by the emergence of a larger, networked social entity (a network form of organization) including the community of fishermen, the MPA management and a network of scientists studying the marine area ecosystem.

Research limitations/implications

This study is explorative and relies on a single case study. Despite this limitation, it opens up new research paths in the fields of entrepreneurship, institutional work, network organizations and adaptive management of the commons.

Originality/value

This study is strongly interdisciplinary; it proposes an original model based on a theoretical view that is highly innovative for organization and management studies; and addresses a relevant but overlooked issue with important societal implications.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 23 no. 3
Type: Research Article
ISSN: 1355-2554

Keywords

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Abstract

Details

Transport Survey Methods
Type: Book
ISBN: 978-1-84-855844-1

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Article
Publication date: 7 November 2016

Kyungwoo Kim, Kyujin Jung and Kenneth Chilton

The purpose of this paper is to understand the effects of social media use on the resilience of organizations involved in emergency response. While social media has been…

Abstract

Purpose

The purpose of this paper is to understand the effects of social media use on the resilience of organizations involved in emergency response. While social media has been utilized as a critical tool in the field of emergency management, few researchers have systemically examined its effect on organizations’ capacity to bounce back from catastrophic events. From the dimensional approach to social media use, this research focuses on the following three functions: providing information to local communities, transmitting information to local communities, and responding to the emotions of local communities.

Design/methodology/approach

The authors used survey data gleaned from 79 key organizations involved in emergency management to investigate the impact of social media use on resilience after a tragic flood in Seoul, South Korea in 2013. The authors also conducted interviews with ten emergency management officials to understand what administrative challenges they confront in using social media for their tasks.

Findings

The authors found that the provision of disaster information on social media such as Facebook, Twitter, and YouTube has a positive effect on the perceived level of organizational resilience. In addition, social media use correlates positively with community emotional responses.

Research limitations/implications

Given the focus on the emergency response to a natural disaster in urban areas, the results might not be generalizable to smaller cities or rural areas. The survey items that measure the perceptions of emergency managers may not represent the physical aspects of disaster recovery, such as the restoration of housing stock.

Practical implications

The findings suggest that public and nonprofit organizations can use social media to communicate with other organizations and the public in ways that demonstrate resilience. Emergency managers should address administrative challenges, such as trustworthiness of information delivered via social media and lack of personnel.

Originality/value

This paper provides systematic understandings of the effects of social media use on the resilience of the organizations that respond to a disaster.

Details

International Journal of Emergency Services, vol. 5 no. 2
Type: Research Article
ISSN: 2047-0894

Keywords

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Article
Publication date: 1 October 1964

A few years ago, in an effort to promote co‐operation between the two professional associations of librarians in Ireland, a Liaison Committee, consisting of members…

Abstract

A few years ago, in an effort to promote co‐operation between the two professional associations of librarians in Ireland, a Liaison Committee, consisting of members nominated by the Council of the Library Association of Ireland and members nominated by the Committee of the Northern Ireland Branch of the Library Association was formed. The first fruit of its endeavours was found in the establishment of an Annual Joint‐Conference of the two bodies, the first one being held at Portrush, in Northern Ireland in 1963.

Details

New Library World, vol. 66 no. 4
Type: Research Article
ISSN: 0307-4803

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Article
Publication date: 1 December 1964

A FEW years ago, in an effort to promote co‐operation between the two professional associations of librarians in Ireland, a Liaison Committee, consisting of members…

Abstract

A FEW years ago, in an effort to promote co‐operation between the two professional associations of librarians in Ireland, a Liaison Committee, consisting of members nominated by the Council of the Library Association of Ireland and members nominated by the Committee of the Northern Ireland Branch of the Library Association was formed. The first fruit of its endeavours was found in the establishment of an Annual Joint‐Conference of the two bodies, the first one being held at Portrush, in Northern Ireland in 1963.

Details

New Library World, vol. 66 no. 10
Type: Research Article
ISSN: 0307-4803

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Article
Publication date: 1 December 1999

Karen E. Lee

Despite extensive research into psychologically‐based issues in the workplace, in practice there remain a confusion and lack of knowledge about psychology and…

Abstract

Despite extensive research into psychologically‐based issues in the workplace, in practice there remain a confusion and lack of knowledge about psychology and psychological issues in manager/organisation development. This article explores areas in which psychological processes affect the day‐to‐day lives of people in organisations, such as the use of psychological knowledge to understand and deal with people issues in the workplace, manager development as psychological development, creating a psychologically healthy work environment, and finally, exploration of a psychological process that is associated with personal/professional change and development. It is proposed that the psychodynamic process of mirroring as an essential component in children’s personality development remains essential in the maintenance and development of an adult’s identity. While this process occurs naturally, it can be acknowledged and used by organisations in a conscious way to provide developmental experiences and opportunities for their employees.

Details

Journal of Managerial Psychology, vol. 14 no. 7/8
Type: Research Article
ISSN: 0268-3946

Keywords

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Article
Publication date: 14 March 2016

Ruizhi Yuan, Martin J Liu, Alain Yee-Loong Chong and Kim Hua Tan

Despite the growing interest in reverse exchange, studies on the subject from the perspective of consumer participation and motivation remain sparse. Consumers…

Abstract

Purpose

Despite the growing interest in reverse exchange, studies on the subject from the perspective of consumer participation and motivation remain sparse. Consumers’ participation in reverse exchange is a key component of supply-chain reverse logistics. To address the gap in existing studies, this paper aims to empirically identify the intention and causes of consumer electronic product exchange (EPE). The proposed research model incorporates value-belief-norm and neutralization theories, linking consumers’ values to their intentions to participate in EPE.

Design/methodology/approach

Survey data collected from 250 consumers were analyzed using structural equation modeling.

Findings

This discussion shows that people are more likely to present positive attitudes when they are ethically concerned. However, this tendency is not without exceptions and behavior influenced by ethics was not always observed. Upon examination, the findings highlight moderating forces of psychological tension that arise when people behave in ways that are in apparent contradiction to their expressed positive attitudes.

Research limitations/implications

It is important to modify the model by analyzing consumers’ actual EPE behaviors. Future research should also reconsider the results from a longitudinal perspective.

Practical implications

The reverse logistics management practices proposed offer valuable insight into other various activities as well, including an integrated supply chain model and improving customer service.

Social implications

The proposed action of EPE encourages consumers as well as managers to reduce, recycle or effectively dispose of waste.

Originality/value

Current reverse exchange models are insufficient for measuring consumer motivations perspective, which is a key but inadequately researched perspective of determining the effectiveness of reverse logistics management. This research endeavors to fill this gap and augment previous studies in EPE by advancing the discussion on how the concept of reverse logistics management is evaluated and justified in relation to consumption values and psychological motivations.

Details

Supply Chain Management: An International Journal, vol. 21 no. 2
Type: Research Article
ISSN: 1359-8546

Keywords

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Article
Publication date: 6 February 2010

Louis Baron and Lucie Morin

Executive coaching has become an increasingly common method to skill development. However, few rigorous empirical studies have tested its capacity to generate outcomes…

Abstract

Purpose

Executive coaching has become an increasingly common method to skill development. However, few rigorous empirical studies have tested its capacity to generate outcomes. The purpose of this paper is to investigate the links between executive coaching and self‐efficacy in regard to supervisory coaching behaviors.

Design/methodology/approach

The paper reports on a pretest‐posttest study of a leadership development program using three training methods: classroom seminars, action learning groups, and executive coaching. Data are collected in a large international manufacturing company from 73 first‐ and second‐level managers over an eight‐month period.

Findings

Results indicate that, after controlling for pre‐training self‐efficacy and other training methods, the number of coaching sessions has a positive and significant relationship with post‐training self‐efficacy. Results also show that utility judgment, affective organizational commitment, and work‐environment support have each a positive and significant relationship with post‐training self‐efficacy.

Practical implications

The paper first suggests that an organization that wishes to improve its return on investment with regard to coaching should implement a program with multiple sessions spread over a period of several months. This paper also suggests that organizations should consider coaching from a systemic point of view, that is, taking into account not only the design but also individual and situational variables.

Originality/value

This paper contributes to the scientific literature by investigating, with a solid methodological design, the capacity of executive coaching to increase self‐efficacy related to management skills.

Details

Leadership & Organization Development Journal, vol. 31 no. 1
Type: Research Article
ISSN: 0143-7739

Keywords

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