5. The unfolding model of voluntary turnover and job embeddedness: Foundations for a comprehensive theory of attachment

In this chapter, a comprehensive approach to understanding voluntary employee turnover and retention is described. First, the literature on employee turnover is briefly reviewed because many of our ideas are grounded in existing theory and research. Second, our recent theory on why and how people leave the organization (called theUnfolding Model of Voluntary Turnover) is detailed. In particular, two empirical studies that confirm and refine the model's major propositions are summarized. Third, our analysis of why people stay is explained. This approach to understanding employee retention is grounded in the development, measurement and test of a construct called jobembeddedness. In addition, two empirical studies that competitively test and refine the embeddedness construct are summarized. Fourth, to gain a more comprehensive understanding of organizational attachment, our preliminary ideas about the integration of the unfolding model and job embeddedness are offered. In our last section, the implications of this work are discussed. More specifically, we identify a number of ways that our theoretical constructs and empirical research fundamentally change or challenge many basic assumptions about traditional theory and research on employee turnover and retention. Finally, our concluding comments focus on how an organization can apply these ideas to increase attachment through embeddedness and/or to reduce turnover by understanding the tenets of the unfolding model.     

经理任期风险和公司治理的实证分析

对公司经理任期的约束应该是公司治理的一个重要方面.本文通过多元线性回归和生存分析的方法检验了内外部治理因素对经理职位变动的影响.这两种方法得出的结果大同小异,相互补充.从结果可以看出,董事长和总经理因为同样处于代理人的位置,所以他们的任期风险影响因素中有几个是共同的:市场业绩、年龄、学历、股权变更.市场业绩的影响作用和理论相反.由于董事长和总经理存在权力的分别,所以领导独立性、内部监事比例和企业规模三个变量对两个职位任期风险的影响作用不同.另外,在检验的变量中,企业的利润率和国有股权比例都没有对经理任期风险产生显著影响,说明经理任期风险并不受企业会计业绩和企业股权性质的影响.     

我国开放式基金的风险度量模型研究

开放式基金作为一种收益共享、风险共担的集合投资工具,日益受到投资者的青睐.本文首先对开放式基金传统的风险度量方法,以及Bangia、Diebold、Schuermann&Stroughair模型、Hisata&Yamai的L-VaR模型和Shamroukh的流动性风险调整VaR模型进行了综述,指出其适用性与局限性.在此基础上,提出改进的开放式基金流动性风险度量指标,通过改进的指数化换手率来避免因换手率的差异而导致流动性风险测量的失真,构建我国开放式基金的资产流动性风险价值和条件风险价值度量模型.同时,考虑股票停牌、权重股等因素,在实证中反映我国开放式基金的流动性风险,形成基于流动性风险调整的开放式基金资产变现方法.     

The double-edged sword of CEO/chairperson duality in corporatized state-owned firms: evidence from top management turnover in China

This study examines how board leadership structure (CEO duality) affects the corporate governance of corporatized state-owned firms where the state shareholders use these firms to serve both profit and non-profit objectives. We propose that CEO duality will generate a positive (negative) significant impact on the firms’ corporate governance when state owners tend to monitor their CEOs on the basis of profit (non-profit) considerations. We test our hypotheses by examining the relations between CEO duality and CEO turnover in Chinese listed companies that are ultimately controlled by central or local governments. We find that CEO duality is negatively related to turnover in marginal profit-making firms where turnover would be value-enhancing. This suggests that CEO duality is detrimental to these firms’ corporate governance because it entrenches relatively poorly performing CEOs. Duality is also negatively related to turnover in high-profitability firms where turnover would be non-value-enhancing. This suggests that CEO duality might positively contribute to the corporate governance of these firms by reducing the occurrence of non-value enhancing turnover. Overall, our study suggests that CEO duality is a double-edged sword in corporatized state-owned firms.     

Should I Stay or Should I Go? Explaining Turnover Intentions with Organizational Identification and Job Satisfaction*

The social identity approach is a powerful theoretical framework for the understanding of individuals' behaviour. The main argument is that individuals think and act on behalf of the group they belong to because this group membership adds to their social identity, which partly determines one's self‐esteem. In the organizational world, social identity and self‐categorization theories state that a strong organizational identification is associated with low turnover intentions. Because identification is the more general perception of shared fate between employee and organization, we propose that the relationship between identification and turnover will be mediated by job satisfaction as the more specific evaluation of one's task and working conditions. In four samples we found organizational identification feeding into job satisfaction, which in turn predicts turnover intentions.     

多元化、公司业绩与总经理变更

总经理变更是公司内部治理的重要手段,其业绩敏感性受到多种因素的影响,以2002年～2007年沪深两市702家A股上市公司的数据为样本,探讨多元化经营对总经理变更绩效敏感性及其业绩改进效应的影响,为公司经营模式对公司治理效率的影响提供经验证据,利用传统的Logistic回归、边际效应分析以及面板数据随机效应回归对多元化和总经理变更的关系进行研究。实证结果表明,多元化降低了总经理变更的业绩敏感性,多元化公司总经理变更的概率与资产收益率代表的多元化公司业绩变化没有显著的关系,即使在公司业绩下降的条件下,股东替换总经理的动机也弱于集中化公司;多元化公司总经理变更后的资产重组行为规模显著弱于集中化公司,带来的业绩改进也小于集中化公司。     

产品市场竞争与现金持有——基于高管变更的调节效应

以产业组织、公司财务和公司治理理论为基础,利用不同数据窗口下中国制造业上市公司的平衡面板数据,采用固定效应模型和广义最小二乘法分析产品市场竞争和高管变更与现金持有之间的长期关系.研究结果表明,相对于产品市场竞争的治理效应,产品市场上的掠夺风险对现金持有的影响占主导地位,使公司的现金持有随产品市场竞争程度的增加而呈现上升的趋势,但是当公司发生高管变更时,产品市场竞争对现金持有的影响更多地凸显为代理成本动机下的现金减持行为;高管变更在一定程度上对变更后续年度产品市场竞争与现金持有之间的关系具有显著的调节作用,使产品市场上掠夺风险对现金的正向影响减弱,公司的现金持有相应呈现降低的趋势.实践表明,有序的市场竞争、完善的经理人市场以及公司内部有效的治理机制对公司制定科学的财务决策具有重要的意义.关键调:产品市场竞争;高管变更;现金持有;调节效应     

内部营销对创业型企业员工留任意愿的影响研究:组织社会化程度的中介效应

高离职率一直困扰着创业型企业的管理者。以往有关离职问题的研究多聚焦在离职时,个体、组织以及组织外因素的影响方面。创业型企业员工的离职与入职是并存的。以组织社会化程度为中介变量,探讨内部营销与创业型企业员工留任意愿的关系,具有理论的创新性和现实的紧迫性。本研究以比例分层抽样法进行抽样,回收有效问卷744份。研究结果发现:内部营销中的培训发展、奖赏制度、内部沟通对留任意愿均有显著正向关系,其中培训发展有极显著正向影响;内部营销对组织社会化程度有显著正向影响;在内部营销对留任意愿的影响中,组织社会化程度有部分中介效果,另外,通过方差分析得出了部分人口统计学变量、个体特质因素和外部情景因素对主研究变量有一定影响。     

Some Cautions on the Measurement of User Information Satisfaction*

User information satisfaction (UIS) is important because of its potential effects on MIS department goals, quality of user work life, and extent of voluntary usage of systems. Reliable measurement of UIS is important for providing evaluative information for both researchers and practitioners. This study used 92 managers and executives as subjects to compare the test/retest reliability of a widely used, 13-scale UIS instrument together with four summary questions under experimental and control conditions. The summary questions behaved more reliably than the detailed questions for all groups, perhaps because of problems with scale units and origins and with item heterogeneity. This suggests that researchers need more reliable measures of UIS and that practitioners need to exercise caution when collecting and interpreting UIS scores.     

Unweaving leaving: the use of models in the management of employee turnover

This paper offers a review of the literature on labour turnover in organizations. Initially, the importance of the subject area is established, as analyses of turnover are outlined and critiqued. This leads to a discussion of the various ways in which turnover and its consequences are measured. The potentially critical impact of turnover behaviour on organizational effectiveness is presented as justification for the need to model turnover, as a precursor to prediction and prevention. Key models from the literature of labour turnover are presented and critiqued.     

MULTIPLE REGRESSION ANALYSIS APPLIED TO RESIDENTIAL PROPERTIES

An interesting and promising innovation in the assessment of property for tax purposes is the application of multiple regression analysis. Sales prices are regressed on various housing characteristics, and models developed from sold properties are used to generate value estimates for unsold properties. Two important issues relating to the development of such models are (1) the extent to which real estate markets are stable in terms of structural relationships over time, and (2) the extent to which sales prices reflect actual market values. The first issue is important because it affects how current sales must be before they can be used in model development, as well as the amount of information the assessor must collect and maintain on properties. The second issue is important because it concerns the amount of measurement error in the models and the extent to which the assessor/analyst can unambiguously interpret residual variance. These issues are investigated by comparing regression models developed from a sample of properties in Eugene, Oregon, which sold in each of two well separated time periods.     

上市公司总经理更换、高管团队重组与企业绩效改进

本文针对以往总经理更换理论研究存在的关键问题,特别是对高管团队重组现象的忽视,构建了新的理论假设,并利用中国上市公司数据进行了检验.研究发现,总经理被迫离职时企业绩效呈现改进之面貌,但常规离职时无此效应;国有控股阻碍了企业绩效改进而内部董事则反之,且在总经理被迫离职情况下,前者负效应减弱而后者正效应增强;总经理是否为竞争者继任对企业绩效改进无显著影响,而选择外部继任对其有显著负面效应;总经理更换后的高管团队重组总体上不利于企业绩效改进,但受到继任类型的调节作用,在外部继任情形下消极影响尤为明显,而对竞争者继任则具有积极作用.     

The Job Demands-Resources Model in emergency service volunteers: Examining the mediating roles of exhaustion,work engagement and organizational connectedness

Using a sample of 887 volunteer emergency service workers in South Australia, we conducted a study based on the JD-R framework to examine the roles of three mediators in the relationship between job characteristics and volunteer well-being. These were (i) exhaustion as a mediator in the relationships between job demands and both poor mental health and turnover intentions; and (ii) work engagement and organizational connectedness as mediators in the relationships of job resources (training and organizational support) with happiness and turnover intentions. Organizational connectedness, a relatively new construct, is a positive state of well-being that involves an emotional connection with other workers, with service recipients and with aspects of the task and the organization's values. Results indicated that all three mediators were important in explaining volunteer well-being. Specifically, job demands were positively related to exhaustion, which, in turn, was linked to ill-health and turnover intentions. Job resources were positively related to work engagement and organizational connectedness, which were, in turn, negatively related to turnover intentions. However, while organizational connectedness mediated the relationship between job resources and happiness, this was not the case for work engagement. The roles of these variables in future research in paid and voluntary work are discussed.     

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。     

快递业“虚胖症”

电商繁荣,快递业红火,这种看似你好我好的双赢,却被局内者称作"虚假繁荣"。一个爆炸式的新兴行业,拉着一个最需要稳扎稳打的传统行业,在一条路况不清的高速路上飞奔。接下来将会发生什么?     

RANK GENERATION,PRESERVATION, AND REVERSAL IN THE ANALYTIC HIERARCHY DECISION PROCESS

Decision making has the objective of finding the best alternative or set of alternatives by considering a number of goals, objectives, criteria, competitors, and other important factors. The analytic hierarchy process is a decision aid used to assist a decision maker in sorting out the complexity of a decision problem and making use of his or her judgments. A decision maker must be assured that the arithmetic operations of any such decision process are the right ones—that they surface the correct ranking and values of the alternatives and preserve or alter ranks appropriately when new alternatives are added or deleted. In this paper it will be shown that with absolute measurement, rank always is preserved, with relative measurement, rank changes with nspect to scveral criteria only because of the structural dependence (involving both numbers and measurements) of criteria on alternatives. A discussion of the effect on rank of replicas and near replicas of the alternatives also is given.     

Exploring the link between human resource practices and turnover in multi-brand companies: The role of brand units’ images

Using exploratory qualitative research undertaken in a multi-brand fashion company, this article investigates the role that brand units’ images play in the link between human resources management (HRM) practices and employee internal and external turnover. Our results suggest that the existence of imbalanced and differently attractive brand units’ images might weaken or remove the effectiveness of corporate HRM practices in keeping internal and external turnover rates low. This because employees may be interested in transferring to the most appealing brand(s) or, if not possible to do so, leaving the company. This article contributes to the debate regarding the use of HRM practices in multi-brand companies, especially in industries where both the brand and the product have a highly-symbolic content. Based on our conclusions, we recommend that brand units with less prestigious images compensate for their lower attractiveness with specific brand unit HRM practices to attract and retain their employees. Theoretical and policy implications of the findings are discussed.     

基于跨层次被调节中介模型的新生代员工期望差距与离职意向研究

基于复合时空背景下28家企业的495名新生代员工和438名非新生代员工的调查问卷,考察新生代员工的期望差距对其离职意向的影响机制、职业承诺的中介作用以及环境自由的跨层调节作用,并运用多层次线性模型对跨层数据进行统计分析。研究结果表明:期望差距是“80后”和“90后”新生代员工离职意向的重要前因变量;职业承诺在“90后”新生代员工的期望差距与其离职意向之间起着部分中介作用,但是在“80后”新生代员工期望差距(现实工作与自我工作)与离职意向之间的中介作用不明显;组织环境自由对“90后”新生代员工的期望差距与离职意向的关系之间起到负向跨层调节作用,但在“80后”新生代员工的期望差距与离职意向的关系之间没有起到负向调节作用。     

DOES EMPLOYMENT PROTECTION CREATE ITS OWN POLITICAL SUPPORT?

This paper investigates the ability of employment protection to generate its own political support. A version of the Mortensen–Pissarides model is used for this purpose. If wages are set through Nash bargaining, workers value employment protection because it strengthens their hand in wage negotiations. Workers in high productivity matches benefit most from higher wages as they expect to stay employed for longer. By reducing turnover employment protection shifts the distribution of match‐specific productivity toward lower values. Thus stringent protection in the past actually reduces support for employment protection today. Introducing involuntary separations reverses this conclusion. Now workers value employment protection because it delays involuntary dismissals. Workers in low productivity matches gain most since they face the highest risk of dismissal. The downward shift in the productivity distribution is now a shift towards supporters.     

Managerial support for basic psychological needs,somatic symptom burden and work-related correlates: A self-determination theory perspective

Somatic symptom burden, or the experience of physical symptomatology without a medical explanation, is related to functional disability and poor quality of life. The consequences of somatic symptom burden extend beyond the individual and affect society, as manifested in higher medical utilization and lower job productivity. Using self-determination theory, we posited that employees' perceptions of managerial support for basic psychological needs may be associated with lower levels of somatic symptom burden among employees, in part because such contexts promote autonomous self-regulation (a type of motivation) at work. Also, we posited that somatic symptom burden among employees would explain some of the relations of managerial need support and autonomous self-regulation at work to indices of work-related functioning, namely emotional exhaustion, turnover intention and absenteeism. Results from 287 Norwegian employees confirmed these hypotheses. These findings not only identify a theoretical mechanism that may explain (in part) the origin of somatic symptoms, but also offer a model by which social-contextual and motivational factors affect important work-related outcomes. These findings also bespeak the importance of developing workplace interventions that provide support for satisfaction of the basic psychological needs.