Does Industrial Composition Matter for Wages? A Test of Search and Bargaining Theory

Does switching the composition of jobs between low‐paying and high‐paying industries have important effects on wages in other sectors? In this paper, we build on search and bargaining theory to clarify a key general equilibrium channel through which changes in industrial composition could have substantial effects on wages in all sectors. In this class of models, wage determination takes the form of a social interaction problem and we illustrate how the implied sectoral linkages can be empirically explored using U.S. Census data. We find that sector‐level wages interact as implied by the model and that the predicted general equilibrium effects are present and substantial. We interpret our results as highlighting the relevance of search and bargaining theory for understanding the determination of wages, and we argue that the results provide support for the view that industrial composition is important for understanding wage outcomes.     

关系成员企业管理者社会资本水平其机会主义行为间关系的实证研究——以中外合资企业为例

本文以中外合资企业为主要研究对象,就关系成员企业管理者社会资本水平与其在特定关系中的机会主义行为水平的联系及其对关系绩效的影响进行了实证研究。研究结果首次证实了企业管理者社会资本会提高其在特定关系中的机会主义倾向这一潜在关系的存在,但这种机会主义行为主要体现在对关系程序控制权的获取上,并不会降低社会资本在提升关系收益水平方面的价值,同时也不会影响关系成果分配的公平性。本研究的相关结论对于进一步的研究与企业管理实践均有一定价值。     

In Search of ‘Managerial Work’: Past,Present and Future of an Analytical Category

Based on a comprehensive review of literature, the paper examines how ‘managerial work’ as a fluid analytical category has been approached methodologically, theoretically and empirically for more than 60 years. In particular, it highlights the existence of competing scholarly understandings regarding its nature, performance, meaning and politics. The authors suggest that subsequent empirical investigations have too often worked, methodologically and theoretically, to slot in, and thus effectively reduce, the term to a particular pre‐existing box, rather than exploring open‐endedly the what and how, but also the why of ‘managerial work’ as a distinct mode of situated ordering. Having represented the concept's past and present by identifying four distinct research approaches reflected in representative publications, the authors suggest that more attention should be devoted to a mode of analytical departure that promises to address directly the suggested shortcomings in the literature. Specifically, it is argued that much could be gained if contemporary notions of practice were brought into the study of managerial work. To this end, the authors outline the contours of a practice‐based approach as a sensitizing framework for understanding managerial work by highlighting the situated, relational, sociomaterial, meaning‐making and consequence‐oriented analytical foci the approach suggests, and suggesting a number of conjoint research questions, as well as acknowledging subsequent limitations.     

Generalized symmetric weight assignment technique: Incorporating managerial preferences in data envelopment analysis using a penalty function

In this paper, we generalize the Symmetric Weight Assignment Technique to incorporate all managerial preferences in Data Envelopment Analysis (DEA). This is a method that promotes managerial preferences, while not changing the feasibility region of the nominal DEA model, unlike standard techniques such as cone ratio and assurance region that potentially yield infeasible problems. We discuss how this generalization is motivated by a real word problem where the decision maker's preference is not precisely known. We also discuss how we are using our generalization in solving a workforce allocation problem for the United States Navy.     

The role of transformational leadership in enhancing organizational innovation: Hypotheses and some preliminary findings

A wide range of factors has been found to affect organizational innovation. Of these, top managers' leadership style has been identified as being one of the most, if not the most, important. Yet, few studies have empirically examined the link between this factor and innovation at the organizational level. This study builds on the extant literature to propose four hypotheses about how top managers' leadership styles directly and indirectly (via empowerment and organizational climate) affect their companies' innovation. A multisource approach is used to collect survey data from 32 Taiwanese companies in the electronics/telecommunications industry. The findings support a direct and positive link between a style of leadership that has been labeled as “transformational” and organizational innovation. They also indicate that transformational leadership has significant and positive relations with both empowerment and an innovation-supporting organizational climate. The former is found to have a significant but negative relation with organizational innovation, while the latter has a significant and positive relationship. The implications of the findings and possible directions for future research are discussed.     

Acquisition and Disclosure of Operational Information*

We study a firm's strategy for acquisition and disclosure of operational information by establishing linkages among information quality, managerial self‐interest, and production planning. We develop a multistage model in which a manager of a publicly traded firm first receives private information about the product demand and then uses it to make production and disclosure decisions. We consider two prevalent disclosure models employed in the accounting literature: all‐or‐nothing and cheap‐talk models. In the all‐or‐nothing model, it is assumed that any disclosure must be truthful, but the manager can strategically withhold information. We show that the manager commits to acquire the value‐added operational information if (i) the managerial self‐interest in the interim share price is low or (ii) the managerial self‐interest in the interim share price is high, but the fixed disclosure cost is either sufficiently low or sufficiently high. We demonstrate that the firm is better off if the production level is observable to the financial market because multidimensional signaling reduces costs. In the cheap‐talk model, we assume that the manager's disclosure may not be truthful. We show that the manager's incentive to acquire value‐added operational information increases along with the penalty cost for misleading investors. Therefore, a high penalty cost for misleading investors can encourage the manager to obtain more precise information, which in turn improves the firm's cash flow.     

Strategic Management in the Public Sector: Reflections on It’s Applicability to Iranian Public Organizations

Strategic management is a managerial story of private sector that has been transferred to the public sector. Many authors have challenged its applicability in public organizations. This paper discusses some important barriers to implementation of strategic management in the public sector empirically. After presenting a conceptual model, we examine several important factors that influence the failure or shortcomings of public sector strategic management. The last section of paper offers implications for theory and practice.     

Informality and Formality in Medium‐sized Companies: Contestation and Synchronization

Accounts of managerial practice in small and medium‐sized firms frequently draw upon notions of formality and informality. In this paper, we explore the relationship between these concepts through an analysis of managerial approaches to employment relations practice in six growing, medium‐sized organizations. Drawing on recent conceptual work on informality and formality, we argue that the use of the terms in previous analyses tends to neglect the co‐dependency of both the concepts and managerial approaches to the employment relationship. We present an alternative conceptualization of formalization and informalization processes that emphasizes synchronization through interactional practices. Through this analysis, we suggest that debate in this area can be reframed through thinking of informality and formality as a dualism rather than a dichotomy, and challenge the notion that small firms must, should or inevitably do move from informality to formality. From this, we construct an inclusive model of formality and informality that better reflects practice and enables further analytical development.     

高管从军经历影响公司治理吗?--来自中国上市公司的经验证据

从军经历影响高管行为选择和管理风格,对于公司治理具有重要的价值。采用2004-2014年上市公司数据样本,以盈余管理程度以及审计意见类型作为反映公司治理的代理变量,本文实证分析了高管从军经历对公司治理的影响。研究发现,有过从军经历的高管所在民营上市公司被出具非标审计意见的可能性以及实施盈余管理的程度相对更低,国有企业则不显著;制度环境影响高管从军经历的治理效应,表现为所在地区政府干预越弱时,高管从军经历对于完善民营企业公司治理的作用越大;高管从军经历与MBA教育在影响民营企业公司治理方面具有替代效应,且从军经历具有更为重要的稳定影响;管制行业民营企业高管从军经历的治理效应更为显著。本文的研究对理解我国企业高管从军经历对于公司治理的重要性以及拓展高管异质性影响公司决策的相关研究具有重要的价值。     

董事会非正式层级与高管薪酬契约有效性

董事会治理是影响高管薪酬契约有效性的关键,已有研究主要从董事会结构层面展开,缺乏对董事会内部运作机制与高管薪酬契约有效性关系的具体分析。基于董事权威不平衡性的治理效应视角,系统考察了董事会非正式层级与高管薪酬契约有效性的逻辑关系及其作用机理,得出了一些具有重要价值的结论,主要包括:1.董事会非正式层级对高管薪酬业绩敏感性具有显著的负向调节作用,且主要体现在业绩下滑的样本公司中,表明董事会非正式层级对高管薪酬契约的影响主要体现在公平性和风险匹配性方面。2.只有当最高层级董事身份为独立董事时,董事会非正式层级对高管薪酬业绩敏感性具有显著的负向调节效应。3.董事会非正式层级增强了高管薪酬的行业和地区薪酬敏感性,进一步验证了董事会非正式层级的社会公平效应。论文的研究为从微观运作层面理解董事会治理和高管薪酬契约有效性提供一种新的视角和结论,对于优化董事会治理和提高高管薪酬契约有效性等均具有重要借鉴意义。     

Technology Acceptance Model 3 and a Research Agenda on Interventions

Prior research has provided valuable insights into how and why employees make a decision about the adoption and use of information technologies (ITs) in the workplace. From an organizational point of view, however, the more important issue is how managers make informed decisions about interventions that can lead to greater acceptance and effective utilization of IT. There is limited research in the IT implementation literature that deals with the role of interventions to aid such managerial decision making. Particularly, there is a need to understand how various interventions can influence the known determinants of IT adoption and use. To address this gap in the literature, we draw from the vast body of research on the technology acceptance model (TAM), particularly the work on the determinants of perceived usefulness and perceived ease of use, and: (i) develop a comprehensive nomological network (integrated model) of the determinants of individual level (IT) adoption and use; (ii) empirically test the proposed integrated model; and (iii) present a research agenda focused on potential pre‐ and postimplementation interventions that can enhance employees' adoption and use of IT. Our findings and research agenda have important implications for managerial decision making on IT implementation in organizations.     

Profitability of Service‐Level‐Based Price Differentiation with Inventory Rationing

In this paper, we study the profitability of service‐level‐based price differentiation (SLBPD) in an inventory‐rationing context. SLBPD implies that a company offers several combinations of prices and guaranteed service levels, from which customers self‐select; different customers choose different offerings because they incur different shortage costs if an order is not fulfilled immediately. We develop an analytical model for SLBPD and explore if and when such a service differentiation strategy yields higher profits than a single undifferentiated offering. The results of our analyses suggest that SLBPD is profitable only if a company faces pricing restrictions, e.g., because of competitive pressure or regulatory restrictions. We develop necessary and sufficient conditions under which a specific and relevant form of SLBPD (called “service‐level‐based upselling”) is profitable, and provide an algorithm to compute the optimal parameters of such a policy. Based on this algorithm we carry out numerical analyses that allow us to characterize the profit increment of service‐level‐based upselling. We derive managerial insights into the attractiveness of SLBPD and explain how our basic analytical framework can be extended to account for more complex practical features.     

设计有效的经营者持股激励机制——基于中国上市公司的实证研究

本文从企业财务控制系统设计的角度对上市公司经营者持股问题进行了实证研究。通过考察实施经营者持股激励制度的我国A股上市公司2002年到2004年的业绩,本文发现,经营者持股金额与经营者年薪金额的比例是衡量持股激励强度的有效指标,该指标与股票报酬率呈线性正相关关系,与会计利润指标没有正相关关系。在上述公司中,董事长和总经理持股数量多的、高成长性的公司提高(长期)股票报酬率的效果更加明显。同时,本文的实证结果说明:如果持股数量能对经营者(特别是董事长和总经理)的个人利益有充分影响,经营者持股激励制度会以较低的成本达到较好的效果(公司股票报酬率显著较高)。     

经理声誉考虑、任务关联性和长期报酬激励的效果研究

为研究如何激励经理努力提高企业未来业绩,假设经理承担着两项任务:声誉激励其提高企业当前业绩,报酬激励其提高未来业绩;在多任务委托代理模型框架下,本文研究了声誉和长期报酬对经理提高未来业绩的激励效果.本文把企业业绩分为当期业绩和长期(即未来)业绩,并假设委托人目标是长期企业业绩最大化,而不是当期业绩最大化.同时本文对经理努力成本函数的假设有重大改进:给出了经理长期和短期努力的具体的成本函数形式,考虑了两种任务即努力间的关联性情况,假设长期努力和当期努力有不同的成本系数.目前相关模型的成本函数最多只能满足以上三个条件中的前两个.因此,运用本文多任务委托代理模型分析得出的结论更明确、直观,并且更符合实际.本文发现,经理不同努力的成本、两项任务之间的关联性对经理的努力行为选择有重要的影响,要激励经理提高企业长期业绩,应该减少经理长期努力的成本或者弱化当期激励.     

Managing Through Networks: Some Issues and Implications for the NHS

Hierarchies, markets and networks have been described as three alternative styles of organizing, each of which may call for distinctive managerial orientations and styles. The question arises as to whether there is now a deep-seated shift underway from organizational forms based on markets and hierarchies and towards more network-based forms of organization.
This paper assesses the significance of these broader developments with reference to changing managerial practice within a major UK organization (the NHS). It seeks to access the developing theory of network-based organizations; to assess empirically the significance of these developments for managerial practice within public-sector organizations such as the NHS; and to consider the organizational and managerial implications, for example, Human Resource Management (HRM) strategy. There have so far been few studies which have taken public-sector settings for study or which have sought to connect network theory to practice, and this paper can make a useful contribution in these regards.     

A Comprehensive Model for Measuring the Potential Impact of Information Technology on Organizational Strategic Variables*

The existing literature on the impact of information technology (IT) does not include rigorous theory building or empirical studies. This research seems to be the first comprehensive investigation towards the development of an empirically validated comprehensive model for understanding the potential impact of IT on organizational strategic variables. More specifically, organizational and industrial variables that appeared to be affected by IT are identified, measured, and operationalized in the form of a comprehensive model. This study is based on structured interviews with a carefully selected sample of 31 strategic managers who had experience using IT for strategic decisions. In addition, the variables included in the model are well grounded in the information systems literature. The variables are then empirically validated and their reliabilities critically tested. A comprehensive model is derived from these validated variables. The model is a first step towards measuring the overall potential impact of IT on an organization. The model can also be used to gauge IT's potential impact on individual strategic variables. A set of hypotheses is also presented for future research. The hypotheses primarily relate to the impact of IT on organizational strategic performance. The model provides an empirically validated foundation for testing of such hypotheses.     

政治治理、管理层权力与国有企业过度投资

党组织参与公司治理是我国国有上市公司治理的重要特征。本文以2011-2016年国有上市公司为样本,研究了政治治理、高管权力与过度投资的关系。结果表明,管理层权力与过度投资显著正相关,政治治理对管理层权力起抑制效应,减小了管理层权力较大企业过度投资的可能性。党委书记或党委副书记兼任董事、党委书记或党委副书记兼任高管分别对管理层权力与过度投资的正向关系产生抑制效应,而党委书记任董事长与党委书记任总经理的政治治理模式则分别与管理层权力与过度投资的正向关系产生协同效应。分组检验结果表明,地方国有企业中管理层权力与过度投资的正向相关关系较之中央国有企业更为显著,政治治理的对于管理层权力与过度投资关系的抑制作用在中央国有企业中比在地方国有企业中更为显著;在2015年新文件发布之后,管理层权力与过度投资的正向相关关系不再显著,政治治理对管理层权力的抑制效应较新文件发布前更为显著,降低了管理层权力较高的企业过度投资的可能性。     

保险需求悖论的解释——来自中国汽车险市场的实证研究

经典的保险需求模型认为绝对风险规避系数递减时保险是一个劣质品,也就是说保险需求会随着财富水平的上升而下降,但这一结论与许多现实的保险行为不符。本文从损失和财富的关系角度出发对经典模型进行了扩展,讨论了在损失随财富变化时的保险需求变化,对保险需求的悖论进行了解释。论文还采用国内汽车险市场的微观数据对拓展模型进行了实证研究,结果显示车险投保人的个人财富与其所选择的保险金额、投保比率以及索赔金额之间存在着显著的正相关关系,检验表明模型的假设和结论具有很好的解释现实的能力。     

The Quality of Industrial Relations and Labour Market Performance

Abstract. Using data from 19 industrial countries for the period 1985–2002, this paper analyses whether the quality of industrial relations affects unemployment and employment rates. To measure the quality of industrial relations, we use the results of surveys in which senior business executives characterized the industrial relations of their countries. Controlling for the impact of major labour market institutions, the business cycle, the level of economic development, unobserved country effects, as well as endogeneity, we find that cooperative industrial relations are likely to lower unemployment and to increase employment. The effects appear to be large, particularly among young people.