Assessing the relationship between practice changes and process improvement in new product development

This paper reports the findings of a study into the process of new product development. Specifically, it challenges the limitations of the current research into the relationship between the adoption of new tools and techniques and performance improvements in new product development. The study was carried out on a sample of manufacturing firms. Cluster analysis yields a new classification of firms, which is shown to provide a significant explanation of the relationship between levels of tool and technique usage and managers’ perceptions of improvements in outcomes. The existing evaluation of tools and techniques is shown to be deficient in not considering adoption jointly rather than singly. The study shows the benefits of a high level of overall tool and technique usage for improving key competitive objectives in new product development, but with limitations. Significantly, project costs are not improved by a high use of tools and techniques. Improved assessment of tools and techniques should be employed to reduce the gap between the rhetoric and the reality of process improvement.     

The relationship between supply chain manager capabilities and performance: empirical evidence

This study seeks to answer the question how supply chain managers’ capabilities impact individual and firm performance. Organisations have begun to recognise the importance of their supply chain and the necessity for qualified supply chain managers. Therefore, there is a need for further research on the impact of these capabilities on individual and firm performance. Sustained performance of a firm depends on dynamic capabilities and it allows firms to align and adapt strategies according to the volatile external environment. Using dynamic capabilities theory, the supply chain manager capabilities model was developed as a way for supply chain managers to effectively use their skills and past experiences to improve their own and firm’s performance. Primary data was collected through a survey distributed to supply chain management professionals. The results strongly support the relationship between technology and soft skills with supply chain manager capabilities. Interestingly, our study identifies sequential relationship amongst the three constructs such as capabilities, individual and firm performance. Capabilities are related with individual performance whereas individual performance is related with the firm performance. However, our findings revealed that there is no direct relationship between supply chain manager capabilities and firm performance.     

Modeling market information processing in new product development: An empirical analysis

This research explores the antecedents and consequences of market information processing during the development process of new high-tech products. To this end, we develop and test a conceptual model for market information processing in three generic stages of the new product development (NPD) process (predevelopment, development and commercialization). In addition, we explore the relationships between market information processing, its antecedents, and product advantage and success. We test our model with responses from 166 NPD-managers in Dutch high-tech firms. The findings show that the market information processing variables are related differentially to new product outcomes, even when controlling for product advantage and product newness to the market. In addition, we found that companies can enhance market information processing for new high-tech products by influencing project priority and flexibility to new products, and by reducing interdepartmental conflict.     

The involvement of board of directors and institutional investors in investing in transition economies: An agency theory approach

We investigate the influence of the composition of the board of directors and stock ownership patterns on the decision to enter markets in Central and Eastern Europe. Our findings suggest that board composition alone does not influence the entry decision while firms with less concentrated stock ownership were more likely to enter these developing markets. We also found that while better performing firms were attracted to opportunities in Central and Eastern Europe, firms with poor prior performance and outside dominated boards were also more likely to enter these markets.     

机构投资者持股与股价崩盘风险的关系——基于市场变量的检验

"机构投资者持股对股价崩盘风险的影响是正向还是负向?现有研究文献并没有得到一致的结论，本文认为这个问题需要通过对市场条件进行细分来深入研究.为此，本文以2011年~2015年我国A股上市公司为样本，采用门限模型研究机构投资者持股对股价崩盘风险的影响是否会因市场效率和市场化程度的不同而发生变化.研究发现:机构投资者持股与股价崩盘风险之间存在市场效率和市场化程度的门限效应:当市场效率处在高水平时，机构投资者持股会降低股价崩盘风险，当市场效率处在低水平时，机构投资者持股会加剧股价崩盘风险;上市公司所在地区市场化程度处在高水平时，机构投资者持股会降低股价崩盘风险，上市公司所在地区市场化程度处在低水平时，机构投资者持股会加剧股价崩盘风险;在目前我国的整体市场环境下，机构投资者持股会加大股价崩盘风险."     

The impact of corporate sustainability performance on information asymmetry: the role of institutional differences

This paper empirically investigates whether corporate sustainability performance (CSP) affects information asymmetry (IA) for European firms listed in the STOXX Europe 600 from 2002 to 2013. We find a significantly negative effect of CSP on IA. By exploiting institutional differences between the European countries, we determine that the negative effect of CSP on IA is more pronounced in liberal market economies compared to coordinated market economies, thus pointing to a substitutive effect of CSP and economic coordination. Further, the impact is greater in countries with stricter disclosure requirements. In such countries, there is generally a greater appetite for company-specific information. However, disclosure requirements fulfil this need only partially because they concentrate on the corporate governance dimension of corporate sustainability. Hence, information on the social pillar especially matters to investors in a complementary manner and drives the overall effect. Our study contributes to the literature on the positive capital market effects of CSP by showing the proposed effect in European capital markets and the institutional determinants of its strength.     

Supplier involvement in integrated product development: evidence from a group of Italian SMEs

Integrated product development (IPD) is gaining increased attention from practitioners and the academic community as a source of innovation and competitive advantage. However undeniable the importance of the issue is as to how the different actors involved in the process interact among themselves and the supporting factors not being well understood even in the SME context, the availability of empirical research and a comprehensive framework to drive this research remains unavailable. This article contributes to these research gaps by providing theoretical and empirical findings. First, a research framework on IPD is identified. The proposed framework represents a conceptualisation of IPD principles as consisting of three groups of integration enablers, which aim to achieve high internal (among departments) and external (with suppliers and customers) integration: (a) organisational enablers, (b) technological enablers and (c) methodologies. Then, a multiple case study approach is used in order to empirically explore external integration with suppliers in product development in 22 SMEs from the machine tool sector.     

The relationship between newcomer expectations of job stressors and adjustment to the new job

This study examined the relationship between unrealistic expectations of organizational newcomers regarding job stressors and subsequent adjustment to the new job. Using a sample of 91 new employees, measures of expected stressors (gathered prior to the first day of work) were compared with stressors reported after six months on the job. The study examined the relationship between the accuracy of expected stressors (demands) and three indicators of job adjustment: job satisfaction; job involvement; and distress symptoms. The results provided partial support for the hypothesis that newcomers who underestimate job stressors have more difficulty adjusting on the new job than do newcomers who overestimate job stressors.     

The tradeoff between mutual fund and direct stock investments: a theoretical analysis involving different types of investors

We study the tradeoff between direct and indirect stock investments through equity mutual funds for a utility-maximizing investor. Whereas direct investments impose higher transaction costs on the formation of a well-diversified portfolio, mutual funds charge fees for their services. Our results show that the fee levels that make private investors indifferent between direct and indirect stock investments vary heavily according to risk aversion, the amounts invested, correlations between assets, transaction costs, and the length of investment horizon. In particular, our results suggest that for a wide range of actively managed mutual funds, the fees charged are too high for these mutual funds to appeal to a wide range of informed investors. However, accounting for search costs, such as costs for financial advice, can facilitate an understanding of the levels of management fees charged by mutual funds existing in the market.     

The returns to continuous training in Germany: new evidence from propensity score matching estimators

The present paper examines the wage effects of continuous training programs using individual-level data from the German Socio Economic Panel (GSOEP). In order to account for selectivity in training participation we estimate average treatment effects (ATE and ATT) of general and firm-specific continuous training programs using several state-of-the-art propensity score matching (PSM) estimators. Additionally, we also apply a combined matching difference-in-differences (MDiD) estimator to account for unobserved individual characteristics (e.g. motivation, ability). While the estimated ATE and ATT for general training are significant ranging between about 4 and 7.5%, the corresponding wage effects of firm-specific training are mostly insignificant. Using the more appropriate MDiD estimator, however, we find a more precise and highly significant wage effect of about 5–6%, though only for general training and not for firm-specific training. These results are consistent with standard human capital theory insofar as general training is associated with larger wage increases than firm-specific training. Furthermore, we conclude that firms may intend to use specific training to adjust to new job requirements, while career-relevant changes may be conditioned to general training.

The moderating effect of product complexity on new product development and supply chain management integration

The purpose of this study is to investigate whether product complexity moderates the impact of integration programs in both new product development (NPD) and supply chain (SC) management on operational performance. Results are based on statistical analyses of data collected from an international sample of manufacturing firms through the fifth edition of the International Manufacturing Strategy Survey (IMSS 5). The main findings are that NPD and SC integration do have an impact on performance, while product complexity alone has not. When considering the moderating effect, complexity has no impact on NPD integration, while there is a negative moderating impact on SC integration. This study bridges together different streams of research, showing how both NPD and SC integration allow managing product complexity while improving performance.     

The inverted-U relationship between stress and performance: A field study

To investigate the shape of the relationship between stress resulting from excessive demand and performance, 306 officer cadets in the Israel Defence Forces completed stress questionnaires during their training. Stress was consistently negatively related to various measures of performance. The prediction derived from the inverted-U hypothesis, that those whose ability exceeded demand and those who felt that demands taxed their ability would perform worse than those whose ability matched their demands, was not supported. Until all the requisite conditions for testing the inverted-U hypothesis are met, the authors propose relegating it to the laboratory.     

Nonlinearity between CEO power and firm leverage: evidence from the threshold model

This paper examines the non-linearity between Chief Executive Officer (CEO) power and firm leverage using a sample of 295 selected small and medium-sized enterprises listed on China Shenzhen Stock Exchange SMEs Board during the period 2009–2013. Specifically, a threshold estimation technique developed by Hansen (J Econ 93(2):345–368, 1999) is applied to investigate whether firms with powerful CEO use a sub-optimal leverage. The results confirm that there is a double-threshold effect exist and suggest an inverted U-shaped relationship between CEO power and firm book value-based leverage. Thus, these findings reveal that the distribution of decision-making power within firms can affect financing decision are made and CEOs with higher ability to exercise decision-making power tend to use lower leverage to pursue their own benefits.     

New product development in turbulent environments: Impact of improvisation and unlearning on new product performance

Team learning is vital for organizations in order to compete in fast-paced environments. However, the ways learning can be effective in such environments warrents research, especially for teams developing new products under rapidly changing technological and market conditions. Interestingly, recent new product development (NPD) literature demonstrates the essential role of improvisation (i.e., planning and executing any action simultaneously) and unlearning (i.e., changes in team beliefs and project routines) for effective learning and performing under turbulent conditions. However, the combined effect of team improvisation and unlearning on new product success (NPS) has largely been ignored. This paper investigates the nomological relations among team improvisation and unlearning, new product success, and environmental turbulence, and contributes to the literature on NPD team learning, and on team flexibility under turbulent conditions. By examining 197 new product-development projects, we found that (1) environmental turbulence positively affects team unlearning, (2) team unlearning concurrently stimulates team improvisation, (3) team improvisation positively impacts new product success by utilizing/implementing new knowledge acquired by unlearning and improvisation. We further discuss the theoretical and managerial implications of our conclusions.     

The case for complexity: A look at the relationship between individual and structure from the inside out

Abstract

This paper develops a model of the individual – structure relationship using a predominantly sociological explanation. Adopting the perspective of the individual and grounding the approach in a structurationist framework, a system of person-based and role-based relationships is proposed. The model's implications for the individual are developed from an examination of markets, hierarchies and networks. Main conclusions cross-cut individual, functional and organizational levels: (1) work- and non-work roles need to be intentionally maintained and leveraged as a way to develop individual and organizational complexity; (2) individual discretion is essential to achieving the proper balance between the two kinds of roles; (3) networks provide the greatest potential for role satisfaction; and (4) HRD assumes an instrumental role in establishing and maintaining a culture of trust and in designing and supporting jobs that foster complexity and discretion.     

Workplace flexibility and new product development performance: The role of telework and flexible work schedules

This paper investigates the effects of telework and flexible work schedules on the performance of teams in new product development projects. Organizations increasingly introduce workplace flexibility practices that provide flexibility with regard to where or when the employee works. The findings of NPD teams in five cases, situated in two telecommunication firms, show that telework has a positive effect on NPD performance through enabling knowledge sharing, cross-functional cooperation and inter-organizational involvement. This improves the speed and quality of product development, provided that face-to-face contact is not completely replaced by virtual contact. A basic level of face-to face contact is necessary to offset the negative effects of telework on the quality of the shared knowledge, which are larger when the knowledge is sticky. Flexible work schedules and unexpectedly hot-desking were found to increase telework usage. This implies for managers that workplace flexibility needs enablers and cannot do without a sufficient level of face-to-face contact.     

Product market competition,agency cost and dividend payouts: new evidence from emerging market

Journal of Management and Governance - This paper examines the impact of product market competition on the dividend policy of Indian firms. We have taken product market competition as the proxy of...