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This exploratory study aims to contribute to theory extension regarding the unique factors that characterize performance evaluation in the public sector.

The chapter reviews the Public Sector and the Interpretation literatures and develops a framework that introduces the concept of interpretation asymmetries, and then uses two case studies and a survey applied to both South American and European public managers to illustrate and analyze propositions derived from the framework.

Public agencies and managers are not assessed by their activities and outcomes but by how the general public may come to interpret and perceive them. Public officers – besides getting their organizations’ job done – struggle to show the truth of their organizations and preserve their organizations’ legitimacy due to the conditions of interpretation asymmetry and the dynamics of politicization prevalent in the public domain.

This study was designed to be exploratory and fundamentally oriented to theory extension. As such, the findings and conclusions are tentative and require further research.

Governments, public officers, politicians, and researchers would benefit from going beyond usual considerations of information asymmetries and start paying attention to, understanding, and managing interpretation asymmetries.

This chapter contributes to the increasing research on the intersection of performance management and the public sector, and provides new concepts that enhance our understanding of the dynamics of assessment in environments prone to politicization. While prior research has been mainly focused on agent’s dysfunctional responses to performance measures, this chapter illustrates functional behaviors through which agents aim to increase the dimensionality and integrity of principals’ interpretations.

International tourism is a major source of export receipts for many countries worldwide. Although it is not yet one of the most important industries in Taiwan (or the Republic of China), an island in East Asia off the coast of mainland China (or the People's Republic of China), the leading tourism source countries for Taiwan are Japan, followed by USA, Republic of Korea, Malaysia, Singapore, UK, Germany and Australia. These countries reflect short, medium and long haul tourist destinations. Although the People's Republic of China and Hong Kong are large sources of tourism to Taiwan, the political situation is such that tourists from these two sources to Taiwan are reported as domestic tourists. Daily data from 1 January 1990 to 30 June 2007 are obtained from the National Immigration Agency of Taiwan. The heterogeneous autoregressive (HAR) model is used to capture long memory properties in the data. In comparison with the HAR(1) model, the estimated asymmetry coefficients for GJR(1,1) are not statistically significant for the HAR(1,7) and HAR(1,7,28) models, so that their respective GARCH(1,1) counterparts are to be preferred. These empirical results show that the conditional volatility estimates are sensitive to the long memory nature of the conditional mean specifications. Although asymmetry is observed for the HAR(1) model, there is no evidence of leverage. The quasi-maximum likelihood estimators (QMLE) for the GARCH(1,1), GJR(1,1) and EGARCH(1,1) models for international tourist arrivals to Taiwan are statistically adequate and have sensible interpretations. However, asymmetry (though not leverage) was found only for the HAR(1) model and not for the HAR(1,7) and HAR(1,7,28) models.

This paper aims to examine the relationships among supplier management practices, organizational context and supplier performance. The contexts selected for supplier management practices are economics transactional practices and high involvement work practices (HIWP); while power asymmetry and competition intensity are considered within the organizational context.

A questionnaire survey was conducted on a multinational semiconductor company. A two‐phase statistical analysis, which comprised phase one (reliability and factor analysis), and phase two (hierarchical multiple regression analysis), was used to analyze the data.

The study provides empirical evidence to support the conceptual and prescriptive statements in the literature regarding the impact of supplier management practices and the dynamics between organizational context and supplier management towards supplier performance. The results show that high involvement work practices (HIWP) mediate the impact of competition intensity on suppliers' quality performance and partially mediate the effect of competition intensity on suppliers' flexibility. The limitation of this study is that it does not use longitudinal data, which would be more useful to examine changes in variables that affect performance; nevertheless, as this study was conducted in‐house, it was able to control the extraneous factors.

The study provides important insights for managers to understand the disposition of the firm to better leverage organizational context by exploiting relationships with suppliers. The paper has extended organizational theory and marketing theory into a supply chain context. Moreover, it is among the first empirical work that specifically investigates the relationship between organizational context and supplier management practices; thus the paper fills an important gap in the supply chain literature.

The aim of this paper is to describe teachers’ professional development in Lesson Study (LS) as processes situated in Semiosphere and generated by the unevenness due to different cultural traditions. The authors characterise teachers’ professional development in two LS experiments as processes generating new knowledge to point out their products, i.e. new professional frame teachers produce after these experiments. The authors use Hybridization, a particular form of Networking of Theories (NWT).

The authors collected video-registration of several Italian LS meetings. The authors analyse two LSs, where time emerged as a conflictual aspect. Through Hybridization components, the authors show how teachers make sense of LS and how teachers revise their professional frame.

In NWT different theories are deployed to study the same problem. To grasp the issue of unevenness in our LS, we use Hybridization of a Theory, a form of NWT characterised by a structural asymmetry. It is given when a construct c is introduced coherently, operatively and productively into a theory T, obtaining a hybridized theory T'.

Hybridization lens allows to describe potentialities and limits of LS as a tool for teachers’ development. The two analysed LS are different: in one of them Hybridization process produced a new theory T', whilst in the second one it was limited to the awareness of a gap between LS and initial teachers’ professional frame.

Identifying links between different Hybridization components is a helpful tool for teacher educators/researchers to foster the shift from one another. For instance, through this tool, teacher educators could keep track of what happens in successive LS and mirror the dialogue between teachers, moving towards group-shared metareflections. This initiates the advancement of a new theory T', where asymmetries are interpreted.

In this approach teachers are protagonists of the construction of a new professional frame. LS is a tool for teachers’ professional development, allowing teachers to question their own educational intentionalities. Hybridization components provide a tool to analyse such a process.

This study aims to examine the development of service ecosystems literature and its four premises as follows: the characterization of service ecosystems as loosely coupled systems, the existence of shared institutional arrangements among actors, the occurrence of resource-integrating interactions among actors and value co-creation as the stated purpose of service ecosystems.

With a systematic literature review, the paper identifies and analyzes 98 articles on service ecosystems. An examination and a cross-check of the central elements of the articles reveal gaps and limitations in the analysis of service ecosystems. These results lead to the formulation of four propositions and suggestions for further research.

The four premises of service ecosystems are constrained by overly optimistic perceptions that prevent theoretical advancements. These premises overlook possible tight coupling; power asymmetries; divergent interpretations of institutions and institutional arrangements; divergent interpretations of actors’ resource-integrating actions, intentions and abilities; and the co-destruction of value. Four propositions are formulated to address these challenges.

The shortcomings reflect the systematic literature review, which only covers a specific area of the extant knowledge base, namely, English-language articles published in peer-reviewed international journals.

This study extensively and critically investigates the premises of service ecosystems for the first time, proposing a more holistic, dynamic and realistic understanding of them. In so doing, it paves the way for renewed conceptualizations of service ecosystems.

Existing multivariate generalized autoregressive conditional heteroskedasticity (GARCH) models either impose strong restrictions on the parameters or do not guarantee a well-defined (positive-definite) covariance matrix. I discuss the main multivariate GARCH models and focus on the BEKK model for which it is shown that the covariance and correlation is not adequately specified under certain conditions. This implies that any analysis of the persistence and the asymmetry of the correlation is potentially inaccurate. I therefore propose a new Flexible Dynamic Correlation (FDC) model that parameterizes the conditional correlation directly and eliminates various shortcomings. Most importantly, the number of exogenous variables in the correlation equation can be flexibly augmented without risking an indefinite covariance matrix. Empirical results of daily and monthly returns of four international stock market indices reveal that correlations exhibit different degrees of persistence and different asymmetric reactions to shocks than variances. In addition, I find that correlations do not always increase with jointly negative shocks implying a justification for international portfolio diversification.

Purpose: This chapter aims: (a) to extend biased net models of homophily to complete networks; (b) to extend the scope of application of these models to processes of social exchange in a small-group laboratory setting; and (c) to link the theoretical model of attraction and repulsion with a standard statistical model of logistic regression as a way of estimating and evaluating the model.

Methods: We discuss the logic of biased net theory and show how it leads to formal mathematical models of tie formation and tie renewal under mechanisms of attraction and repulsion. We then estimate key theoretical parameters in the models by means of logistic regression.

Findings: The estimated effects of homophily in our models are moderate in strength, weaker than corresponding reciprocity effect, and processes of tie formation and tie renewal are driven more by considerations of direct reciprocity than group membership. Under attraction, homophily effects are stronger for tie renewal than tie formation. Under repulsion, the opposite holds.

Limitations: Participants in our study are divided into two groups based on a criterion that is likely to have been too weak to induce strong group identity. Measures that enhance the sense of group identity need to be introduced in future studies.

Police agency networks are likely to be important for the adoption of policing innovations and the visibility of demonstration projects. This study of police network data has four main goals: to use multivariate models for the influence of agency characteristics on the sort of agency it contacted; to investigate the extent of symmetry of ties in the police network; to examine models for the specific departments chosen as agencies' network contacts; and to identify, through network data, agencies as “relative experts” in several different policing domains.

The paper uses Weiss agency survey data to conduct a variety of analyses of agencies' choices of informal communication partners.

The analysis showed regularities in agencies' choices of contacts. Whether a contact was of the same type or from the same state as the respondent was influenced by the respondent's population and type. There was some evidence of size‐based asymmetry in contacts. The choice of a particular contact was influenced by agency type, population and geographic distance. There appeared to be “relative experts” in specific policing domains.

The results increase understanding of the structure of the agency network. By describing the nature of communication ties on planning issues, the results give essential background for any efforts to encourage the diffusion of policing innovations (or successful practices) by inducing ties between particular agencies. Results can also help predict the potential visibility of demonstration projects if placed in particular agencies.

The purpose of this study is to investigate the effect of foreign direct divestments (FDD) on economic growth and development in South Africa for the period 1991–2019.

The non-linear autoregressive distributed lag technique is used for the empirical analysis. Two regression models are specified, one for economic growth and the other for development which is proxied by poverty.

The empirical results suggest that foreign divestments are detrimental to both economic growth and development. Furthermore, the results suggest that the negative effects of foreign divestments outweigh the positive effects of FDI inflows.

South African policymakers should thus use policies that promote the retention of FDI inflows together with those that attract inflows. Furthermore, policies that promote economic freedom such as transparency and reduction in the time frame for granting government permits for business operations are also of paramount importance.

Most of the available literature on FDD focuses on the firm perspective. Available studies on the effect of FDD on economic growth do not investigate the effect of divestment on economic development. Economic growth is a necessary but not a sufficient condition for the achievement of socioeconomic development.

The purpose of this paper is to contribute to the literature on the valuation of initial public offerings (IPOs). In particular, it tests the presence of over‐optimism when pricing IPOs on the Italian Nuovo Mercato.

The paper investigates whether the analysts make systematic errors when forecasting the performance of the firm undergoing the IPO by comparing analysts’ ex‐ante expectations to actual ex‐post figures. Using a sample of pre‐IPO analysts’ reports, the paper performs a regression analysis using the forecast errors (FE) of post‐issue sales as dependent variable in order to find out the determinants of mis‐valuation.

It is found that the Nuovo Mercato has been essentially a “market for projects” in which young enterprises endowed with a few tangible assets sold their business plans to the market exploiting high‐growth opportunities. In the aftermarket, stock and operating performances are found to be declining, falling short of initial expectations. The extent of the actual post‐issue growth was lower than the ex‐ante estimations by financial analysts, whose valuations were systematically upwardly biased. Affiliated analysts are found not to be more over‐optimistic than the unaffiliated. FE appear to be primarily driven by the extent of forecasted growth, by market sentiment and (inversely) by the size of the firm.

From the perspective of investors, this study contributes to the understanding of the helpfulness and limits of the analysts’ forecasts in investment decisions and, more generally, of the determinants of over‐optimism. This study addresses the issue of over‐optimism and provides empirical evidence of it. This paper also contributes to the literature on the rise and fall of the new European stock markets.