The Impact of Culture on the Perception of Young Japanese and Germans in the Management of the Corona Crisis by their Government

Public Organization Review - This article addresses the extent to which culture has an impact in crisis management at the government level, exemplified by the corona crisis in Germany and Japan....     

The Value of Instructional Communication in Crisis Situations: Restoring Order to Chaos

This article explores the nature of instructional communication in responding to crisis situations. Through the lens of chaos theory, the relevance of instructional messages in restoring order is established. This perspective is further advanced through an explanation of how various learning styles impact the receptivity of various instructional messages during the acute phase of crises. We then summarize an exploratory study focusing on the relationship between learning styles and the demands of instructional messages in crisis situations. We conclude the article with a series of conclusions and implications.     

Approaches to HRD in Russian IT-companies in the period of economic crisis

Economic crisis differently impacts on the decisions of companies how to manage human resource development (HRD) initiatives. For the IT sector, intellectual capital becomes a core source of sustainable competitive advantages where HRD is seen like a tool to develop the internal stock of human capital. This article explores the approaches to HRD used by Russian IT-companies during the crisis. On the basis of the conceptual debates regarding the necessity to invest more in HRD programs even in the crisis conditions and our own empirical research, we tried to find out what happened with HRD costs during the crisis and what was the relationship between HRD costs and company’s performance during the crisis in Russian IT-companies. We conclude that Russian IT-companies perceive the value of HRD programs; hence, the most innovative-active and fast developing IT-companies prefer to constantly invest more in HRD initiatives. In crisis conditions, we recommend them to develop and implement more internal training programs.     

中澳企业员工离职与激励认知的跨文化比较研究

将HOFSTEDE提出的国家文化理论运用到人力资源管理中进行实证检验,对中国和澳大利亚两国企业员工的离职和激励行为背后的文化影响进行了分析研究。研究分析显示,相比澳大利亚企业员工,中国企业员工的离职倾向较低;可选择工作机会的主观感知对中国企业员工离职倾向的影响较小;中国企业员工认为职业发展是较重要的激励因素,而澳大利亚企业员工认为工作本身是较为重要的激励因素。研究结果表明,国家文化理论提出的5个文化差异维度中的"权利距离"、"不确定性规避"和"长期取向",在中澳两国企业员工的离职和激励问题上基本得到印证。     

Crisis Management: Informing a New Leadership Research Agenda

As the business community becomes more complex, crisis events are likely to increase in both prevalence and severity. Whether management scholarship has kept pace with this new reality is debatable. Moreover, much of the existing crisis research—perhaps understandably—stems from a negative frame: crises are threats or problems to be overcome. Such research has produced relevant insight into crisis handling, has helped categorize the plethora of crisis events, and has connected crisis events to relevant management strategies. We argue here that this framing fundamentally limits the types of questions asked and the methodological approaches used to answer those questions. Perhaps worse, given the important role that leadership plays in crisis handling, this negative frame can hinder the possibilities for the practice and study of leadership. In this article, we review an array of crisis research and explore two theoretical domains—issue framing and deviance—and their potential role for influencing leadership theory. We discuss the challenges of conducting crisis research, and offer suggestions for new methodological approaches and new research questions that are consistent with a more positive leadership approach.     

The corporate energy policy: A management planning perspective

The energy problems facing the world have been receiving increasing attention in the press and in business journals. This article examines the attitudes of 224 U.S. business executives toward the energy crisis and examines the role of a corporate energy policy in minimizing the economic impact of future energy price increases and/or shortages. A plan for a corporate energy policy is proposed.     

金融危机10年来中国股市动态演化与市场稳健研究——一个基于复杂网络视角的实证

将复杂网络理论最小生成树（MST）算法和滑窗分析相结合，在2008年全球金融危机和2015年中国股市震荡的背景下，以2003年至2017年的上证A股收益率数据作为实证样本，构建股票市场动态关联网络，并从网络节点移除和连边变化两个角度出发，对其在不同时期的动态演化特征和市场稳健性质进行探讨。研究结果表明：网络结构整体上在金融危机之前和之后较为松散，而在金融危机和股市震荡期间则变得非常紧凑，节点的度分布和影响强度分布更加聚集。这意味着在金融危机和股市震荡期间，系统重要性公司的影响力持续增强，其股价的变化对其它公司将产生更为显著的影响；不同类型的事件对股市网络连通性和稳健性的影响程度不同，区域性事件（股市震荡）比全球性事件（金融危机）对市场的冲击更大；短期来看，金融危机和股市震荡对网络连边的稳健性并没有造成太大的冲击，整个研究时段网络的存活比率都维持在较高的水平。但随着步长的增加，网络的存活比率急剧下降，这意味着股市网络相关结构的长期稳健性是减弱的。     

网络舆论危机事件的蔓延扩散效应研究

随着Web2.0时代的到来,网络媒体已成为公共危机及其风险传播的主要途径,舆论危机的形成和演化也成为日益突出的社会风险问题。其中,网络舆论的蔓延过程及其机理的研究是舆论危机研究的重点,并逐渐受到学者的关注和社会的重视。本文以舆论危机的蔓延机理为研究对象,通过收集和梳理近年来发生的20起网络舆论危机事件,对舆论蔓延的基本内涵、表现形式和驱动因素等进行系统总结。随后,以蔓延驱动因素的研究为指导,考虑蔓延的"内部影响因子"和"外部影响因子"等,构建舆论蔓延扩散的一般性模型,并对模型的极值点和拐点等进行剖析。最后,本文以"7·23甬温动车事故"为例,对其网络舆论的蔓延扩散模型进行拟合、回归和分析。     

国际金融危机对我国GDP影响到底多大?

本文利用区分加工出口的非竞争型投入产出模型,从受到金融危机影响最为直接的出口、投资角度出发,测算了国际金融危机对我国GDP到底产生了多大的影响。测算结果显示:金融危机对我国经济的负面影响是逐步加剧的;重点行业影响较为集中;由于我国宏观调控政策的及时准确,刺激经济计划的有效实施在很大程度上抵消了金融危机的影响。     

次贷危机前后国际原油市场与中美股票市场间的协动性研究

本文运用基于动态条件相关的多元GARCH(DCC-MVGARCH)模型,对美国次信贷危机发生前后国际原油市场和中、美股票市场间的协动性变化进行了研究。实证结果表明在次信贷危机发生后,国际原油市场与中、美股票市场间的协动性有了明显的增强,不同市场间的波动具有明显的传导作用。国际原油市场与美国股市的协动性相对于中国股市波动性更强,说明冲击在国际原油市场与美国股市间的传导更强烈,其协动性对冲击的反应更敏感。另外,运用偏最小二乘方法(PLS)对影响国际原油市场和中、美股票市场的诸多因素在次信贷危机爆发前后对协动性解释能力的变化进行了分析,结果发现次信贷危机对这些因素的解释能力有明显的影响。     

Tightening the leash after a threat: A multi-level event study on leadership behavior following the financial crisis

This paper presents the results of a multi-level event study of the effects of the 2008 financial crisis on leadership behavior. Following assumptions from the threat-rigidity hypothesis, we expect that across firms and countries, this crisis led to an increase in directive leadership. In line with this hypothesis, we also anticipate that this change is context-specific. The impact of the 2008 financial crisis on the change in directive leadership is analyzed for over 20,000 managers in 980 organizations across 36 countries. We find that the financial crisis went along with a significant increase in directive leadership, and that this effect was stronger in the manufacturing sector, and in countries with a high degree of power distance. Our results support the threat-rigidity hypothesis, and contribute to leadership research by showing that the context is not only a moderator but actually shapes leadership behavior. This opens up a new avenue of leadership research where context is an antecedent of leadership behavior more generally, and where the methodological set-up allows for causal inference.     

State-Owned Enterprise Policy and the Loss of Economic Sovereignty: The Case of Ireland

The global financial crisis that erupted in 2008 has had enormous implications for the composition of the state-owned enterprise (SOE) sector in many advanced economies around the world. The crisis resulted in the nationalization of financial institutions in a number of economies, but has also led to a number of countries pursuing policies of privatization to raise much needed revenue to tackle high levels of indebtedness. This article describes the changes to the composition of the Irish SOE sector since the onset of the economic crisis in 2008, as well as its impact on the stated plans for the future of the SOE sector. It addresses the question of privatization and the conditionality for the sale of state assets contained in the bailout agreement signed between the Irish government and the IMF/ECB/European Commission (the “Troika”). It finds that Ireland has been afforded a degree of discretion with regard to the choice of assets to be sold and the application of proceeds. Revenue targets, however, have been dictated by the Troika. This contrasts with the agreements forged between the Troika and the governments of Greece and Portugal where there has been a far greater degree of conditionality attached to SOE divestments.     

New Uses of Outcomes Measures Under Austerity: the Case of Danish Municipalities

This article argues that the use of performance information may change according to economic circumstances. In a fiscal crisis, policy-makers likely demand less documentation of service quality, but under longer-term term austerity they can use performance information, including outcomes measures, to target and reallocate scarce resources across organizational boundaries. The argument is tested in an analysis of six Danish municipalities after the financial crisis. In these cases, performance information was used in new ways. For instance, outcomes measures were linked to overall strategies and used in the budgeting process to promote the reallocation of resources towards more effective services.     

Squeezing or cuddling? The impact of economic crises on management control and stakeholder management

This paper analyzes the effects of economic crises on firms’ use of management control mechanisms and on their management of stakeholder relations. Moreover, the association between stakeholder management and management control system use is analyzed. In the wake of the economic crisis of 2008/2009, many firms were faced with severe threats that called for immediate short-term action to ensure firm survival. However, short-term action like massive cost-cutting and cash generation often are blamed for going at the expense of long-term health as key stakeholder relations may be irreversibly harmed. Hence, three interrelated questions are addressed theoretically and empirically: First, we analyze the impact of the recent economic crisis on firms’ control strategies. More specifically, we investigate whether a high crisis impact on firms is associated with a shortening of reporting cycles, a more interactive use of control-relevant information, restriction of employee autonomy and a focus on liquidity and cost-cutting. Second, we examine from the viewpoint of stakeholder theory how firms can make use of active stakeholder management for crisis management. Third, we explore whether firms can take short-term measures for ensuring liquidity and cutting costs and at the same time pursue a stakeholder strategy aiming at the long-term survival of the firm. Using survey data from 204 major Austrian corporations, we provide evidence that firms significantly adjusted their control systems as a response to the economic crisis. Our data do not indicate an immanent contradiction between a “short-term finance focus” and the pursuit of a sustainable stakeholder strategy.     

Toward an Ethical Model of Effective Crisis Communication

The goal of this study was to develop and demonstrate a new ethical model for crisis communication. This article examined the crisis communication practices as well as literature and found essential elements—what, how, and when—for ethical and effective crisis communication. Based on these three variables, a new three‐part model, the TTR Test, was proposed, utilizing three principles: Transparency (what), Two‐way symmetrical communication (how), and Right time (when). To investigate how the test can be applied to the real world, this article examined BP's crisis communication during the 2010 Gulf of Mexico oil spill.     

产品伤害危机及其处理过程对消费者考虑集的影响

“考虑集”形成是消费者购买决策中的重要阶段,产品只有进入考虑集才有可能最终被消费者购买。本研究在上海通过现场实验获得311名消费者的考虑集信息,检验了企业营销中的产品伤害危机事件及其处理过程对消费者考虑集的影响。研究结果表明产品伤害危机事件及其处理过程对危机产品是否进入考虑集有显著影响;与没有危机事件比,有事件无响应会对危机产品进入考虑集产生负面影响,并且对危机产品在考虑集中偏好顺序也产生负面影响;与有事件无响应比,企业响应、专家响应,以及他们的双重响应会对危机产品进入消费者考虑集产生正向影响。     

银行破产的财务因素分析:金融危机冲击下美国银行业的实证

由次贷危机引发的金融危机对美国银行业造成数以百计的商业银行破产,为研究商业银行破产提供了绝佳的样本。本文收集了受危机冲击的美国破产的商业银行样本以及对比样本,研究美国商业银行破产的财务影响因素。本文在用单变量检验方法检验备选财务指标有效性的基础上,建立了加权Logit模型,利用模型贡献度指标分析财务因素的显著性和影响程度。实证结果表明,不仅资产回报率、资本充足率、净贷款占比和金融衍生产品投资对银行破产具有显著影响,资产回报率和净贷款占比的变化率也具有显著作用;而且资产回报率和资本充足率的影响远远大于其他因素。值得特别提出的是,尽管金融衍生产品被广泛认为是这次金融危机的主要原因之一,实证结果显示金融衍生产品投资对样本银行的稳健性具有正向影响。     

Impression management in corporate annual reports during the global financial crisis

This paper analyses impression management (IM) during the global financial crisis (GFC). It examines the differences in multiple textual characteristics and attributions between a highly positive performance period (2002–2007) and the GFC period (2008–2012), within the setting of Spain, where these two economic cycles were extreme. In contrast to previous research, companies' extreme poor performance in our sample is driven by an exogenous event. The findings do not show clear evidence of IM based on textual characteristics specifically linked to the GFC. Companies tried not to use overt IM and, to some extent, tried to clarify the impact of the crisis on performance. They were under great scrutiny and probably preferred to tell a more careful story. However, a general pattern of IM was still present during the GFC in the form of consistent positive attributions, favourable benchmarks and enhancement practices. In essence, the crisis did not fully stop IM practices, but rather influenced the way IM was produced. Overall, our results show that IM was lower during the GFC than in the case of poor performance in normal macroeconomic conditions found by previous literature. The results also show that the narratives of firms in the finance and real estate sectors were the most reactive to the GFC, probably linked to their key role in the crisis.     

Understanding crisis and crisis management: an Indian perspective

This study explored individual perceptions of the concept of crisis and the strategies used to manage crisis events. Situated in the national Indian cultural context, this exploratory qualitative study addressed three questions: How do individuals from the Indian national culture define a crisis? How do individuals from the Indian national culture manage a crisis? What impact does the Indian national culture have on individual approaches to crisis management? Interview data were collected from 66 Indian participants with a focus on critical incidents related to crises. The findings from a thematic analysis revealed that, despite sharing the same national cultural heritage, the participants perceived crises very differently, and their approaches to crisis management could be classified into three categories: fighting, compromising, and avoiding. Further, culture influenced the strategies participants adopted to manage their perceived crises, and national cultural norms that bound the society were given the utmost importance by the participants.     

金融危机对中国70城市房价影响的关联聚集效应

为了考察金融危机影响下中国70个大中城市房价的波动特征及关联变化,提出采用具有准确拓扑序列的亚超度量空间方法。通过对2005年7月至2009年7月中国70个大中城市房屋销售价格指数样本的月数据进行金融危机前后对比实证,结果发现:金融危机爆发后,中国70个大中城市房价间聚集效应更加明显;房价间距离明显缩短,表明70城市房价波动的关联性提高;聚集的中心节点由二三线城市逐渐变为一线城市,使得一线城市的影响力大幅增强。虽然全球金融危机爆发,使得中国70个大中城市房价大幅降低,但其整体上仍然是相对稳定的。建议继续加大对影响力逐渐增强的一线城市房价的关注力度,建立公平合理的市场制度,防止由于涟漪效应出现各城市房价轮涨现象,从而构建居者有其屋的和谐社会。