Reconsidering the exploration of power distance: an active case study approach

In this paper, we present what we call an “active case study” and we theorize specifically on the relevance hereof for an exploration of power distance (as conceptualized by Hofstede (Culture's Consequences: International Differences in Work-Related Values, Sage, Beverley Hills, CA, 1980)). As Hofstede conceives it, the notion of “power distance” enables an understanding of the predominant ideas about inequality prevalent in a (national) culture, which in turn infuse work relationships. An active case study approach—as we elucidate in the paper—implies an acknowledgement on the part of those organizing the research of the manner in which their intervention might affect the way “respondents” experience their work relationships. We suggest that our proposed active case study approach offers novel possibilities for exploring power distance and should be added to the repertoire of approaches used to examine this in organizational life. We develop our argument in this regard by offering a detailed account of the application of this approach to a Taiwanese organization (the Kaohsiung Harbor Bureau in Taiwan).     

A time-varying weights tuning method of the double EWMA controller

In recent years, the exponential-weighted-moving-average (EWMA) statistic based controllers are popular in semiconductor manufacturing. However, the single EWMA controller is not sufficient for compensating for the wear-out process. Thus, a double EWMA controller was proposed to enhance the capability for controlling the drifting process. In the literatures, in the solution of the double EWMA controller, only the “trade-off” solution weights are used to tune the controller. However, it is a fixed weight tuning method, and it is known that a time-varying weight will produce a superior performance over that of a fixed one (J. Quality Technol. 29 (1997) 184). Therefore, this study aims to develop a heuristic time-varying weights tuning method for the double EWMA controller. The numerical results showed that the proposed time-varying tuning method possesses an improvement of least 10% over that of the fixed weight scheme.     

Strategic leadership research: Moving on

During the last 20 years, the field of strategic leadership has undergone both a rejuvenation and a metamorphosis. We argue that the essence of strategic leadership involves the capacity to learn, the capacity to change, and managerial wisdom. Against this backdrop, we first review issues related to under what conditions, when, and how strategic leadership matters. Next, we selectively review three streams of theory and research. The first is strategic leadership theory and its antecedent, Upper Echelon theory. The second stream of theory and research focuses on what Bryman has labeled the “new” leadership theories. These include charismatic, transformational, and visionary theories of leadership. The last stream of research we classify as the “emergent” theories of leadership. Among these are theories that explore behavioral and cognitive complexity as well as social intelligence. Finally, we attempt to suggest how the “new” and “emergent” theories can be integrated within what we claim is the essence of strategic leadership.     

基于股价预测的泛证券投资组合策略

本文基于期望效用最大化和L₁-中位数估计研究了在线投资组合选择问题。与EG（Exponential Gradient）策略仅利用单期价格信息估计价格趋势不同,本文将利用多期价格信息估计价格趋势,以提高在线策略的性能。首先,基于多期价格数据,利用L₁-中位数估计得到预期价格趋势。然后,通过期望效用最大化,提出一个新的具有线型时间复杂度的在线策略,EGLM（Exponential Gradient via L₁-Median）。并通过相对熵函数定义资产权重向量的距离,进而证明了EGLM策略具有泛证券投资组合性质。最后,利用国内外6个证券市场的历史数据进行实证分析,结果表明相较于UP（Universal Portfolio）策略和EG策略,EGLM策略有更好的竞争性能。     

Just-in-time purchasing: an empirical study of operational practices, supplier development and performance

This paper examines the role of supplier development in establishing and managing efficient buyer–supplier operational links. The paper develops and assesses a measurement instrument for “operational” and “supplier development” just-in-time purchasing practices, followed by an examination of the relationships between the two sets, and an investigation into whether the use of “operational” and “supplier development” practices has a bearing on higher plant performance. A plant-level survey was carried out on a sample of electronics and machinery plants. The study empirically:

• documents the close connection between the buyer–supplier operational link and the buyer’s practices for supplier development;

• demonstrates that recourse to supplier development programs and their nature depend on the kind of vendor–vendee operational connection;

• test whether different plant performance outcomes result from the implementing of different “operational” and “supplier development” practices. It demonstrates that better-performing plants exhibit more advanced design and logistic links with sources, more formalised vendor-rating and ranking procedures, greater use of organisational devices for supplier-organisational integration and place greater importance on supplier assistance and training.

The role of culture in technology management research: National Character and Cultural Distance frameworks

Management research exploring the role of national culture on topics such as management style, strategy, and firm performance can broadly be divided into two categories. Studies that attempt to compare and contrast the impact of culture on organizations in different cultures have been labeled as “National Character” studies. These studies attempt to determine how specific cultural attributes affect actions, strategies and performance. The second type of culture study focuses on the interactions between two firms embedded in different national cultures. These studies look at the impact of “Cultural Distance” on the ability of organizations to successfully interact. It is this latter area which is becoming increasingly important to technology management in the “Flat World” of the 21st Century. Research propositions for technology management for each of the two frameworks are developed.     

When small is not enough: How to save entrepreneurs from themselves

This article goes beyond the traditional celebration of Entrepreneurship to focus on why Entrepreneurship is not enough. First, entrepreneurial companies that have overcome the start-up difficulties, must become “professionalized” in order to consolidate their gains and face a period of stable growth. This, as is well-known, is not easy. But there is another, even harder problem: in becoming “professional”, most companies lose the entrepreneurial spirit that made them successful in the first place. In an ever-changing world, with more and more international competition in the face of Europe's unification in 1992, a company that loses its entrepreneurial sparkle is just waiting for dismissal. This article analyzes the main causes of that “hardening of the arteries” and their proven remedies.     

The global “war for talent”

In this paper we examine the “global war for talent,” the factors that impact it, and organizations' responses to it. Using a comprehensive search of more than 400 contemporary academic and business press articles, the paper reviews relevant research and reassesses the “talent war.” We posit that the dominant approaches to the “talent war” based on a scarcity state of mind and action, often characterized by a tactical and exclusive top talent or “star” focus, are being challenged by the emergence of a more evolutionary paradigm. This new paradigm adopts more strategic, innovative, cooperative and generative approaches which we describe as creative ‘talent solutions.’ The paper also highlights implications for future research, teaching and development in the field.     

Political leaders in the SYMLOG space: Perceptions of right and left wing leaders by right and left wing constituencies

Systematic Multiple Level Observation of Groups (SYMLOG) was applied to studying images of political leaders. Three left wing and three right wing Israeli leaders were evaluated by left and right wing voters along the SYMLOG's three dimensions—friendliness, task orientation, and dominance. It was found that right wing voters rated right wing leaders higher on friendliness and task orientation than left wing leaders. In a similar fashion, left wing voters viewed left wing leaders as more friendly and task-oriented than right wing leaders. Leaders of the right were viewed as more dominant than leaders of the left by left and right wing voters alike. Right and left wing voters assigned different SYMLOG types to right and left wing leaders. The dimension that distinguished between the various images was the dimension of friendliness. Whereas for right wing voters, all images of right wing leaders included a component of friendliness, none of these three images included an accented component of friendliness when rated by left wing voters. In a similar fashion, left wing voters saw two out of the three left wing leaders as including a component of friendliness, whereas none of the three left wing images included this component for right wing voters. Respondents from the right and the left rated their “ideal leader” as reflecting values of “dominance”, “friendliness,” and “task-orientation”. However, respondents saw leaders affiliated with their own political camp as closer to their image of the ideal leader on friendliness and task-orientation than leaders of the opposite political camp. Both right and left wing voters saw all political leaders as equally similar to their image of “ideal leader” on the “dominance” dimension regardless of that leader's political affiliation.     

The Termination of State-Run International Trade Programs in California: Perspectives on Contributing Factors and Future Policy Options

The paper examines developments that led to the termination of California’s major state-run international trade programs managed by the now defunct Technology, Trade and Commerce Agency and provides perspectives on future policy options. Study findings indicate that what the academic literature refers to as “theory failure” and “implementation failure,” along with deficiencies in leadership and organizational culture, must be seen as the major reasons for the programs’ elimination.     

Technology management: Fundamental issues for engineering education?

Although technology management has been a subject of concern in recent years, its importance to the technical community is not well established. The fundamental implications of technology management for the engineering profession is explored. A definition of technology is sought that best communicates the full implications of the term. In particular, the importance of knowing “how to apply” in contrast to understanding the “scientific fundamentals” is developed as a basis for defining technology.It is concluded that the current attention being given to technology management has significant fundamental implications for engineering and business education. Technology management is shown to focus attention on the importance of decision making processes for engineers and managers. It is concluded that including decision making as a fundamental engineering process may provide a new basis for structuring the “non-science” part of engineering curricula and provide a link between engineering and business curricula. Coupling this with a recognition of the differing characteristics of what is defined as Science Knowledge and Application Knowledge may provide a new paradigm for better preparing engineering students for entering professional practice and also provide a new basis for planning professional development and life long learning.     

Acquiring technological competencies through inter-organizational collaboration: An organizational learning perspective

Firms are becoming increasingly sophisticated in their technology strategies and are procuring know-how through a variety of collaborative methods including licensing agreements, joint ventures, minority investments, and equity acquisitions. This paper examines the relationship between an organization's learning capability and inter-organizational collaboration in acquiring technological competencies. Organizational learning is posited to be a mediating mechanism through which technological competencies are developed via varying levels of organizational interaction. A general model is developed which suggests an “efficient fit” relationship between an organization's ability to learn, characteristics of the technology, and mode of inter-organizational collaboration. The concept of a “learning gap” is introduced, and managerial implications are suggested. Finally, propositions are developed to facilitate future empirical research.     

A portfolio model for foreign exchange exposure management

This paper summarizes the results of our research into applications of decision analysis and portfolio theory to the management of foreign exchange exposure. In contrast with much current practice in foreign exchange management, the portfolio approach takes into explicit consideration the inherent relationships among the currencies in the company's foreign currency portfolio. The hedging model developed in this article traces out an ‘efficient frontier’ or trade-off curve between expected value and variance of the foreign currency portfolio at the end of the planning period. In doing so, the model chooses the optimal amount and method of hedging for each currency in the portfolio.     

Dynamic performance of a hybrid inventory system with a Kanban policy in remanufacturing process

In this paper we study a hybrid system with both manufacturing and remanufacturing. The inventory control strategy we use in the manufacturing loop is an automatic pipeline, inventory and order based production control system (APIOBPCS). In the remanufacturing loop we employ a Kanban policy to represent a typical pull system. The methodology adopted uses control theory and simulation. The aim of the research is to analyse the dynamic (as distinct from the static) performance of the specified hybrid system. Dynamics have implications on total costs in terms of inventory holding, capacity utilisation and customer service failures. We analyse the parameter settings to find preferred “nominal”, “fast” and “slow” values in terms of system dynamics performance criteria such as rise time, settling time and overshoot. Based on these parameter settings, we investigate the robustness of the system to changes in return yield and the manufacturing/remanufacturing lead time. Our results clearly show that the system is robust with respect to the system dynamics performance and the remanufacturing process can help to improve system dynamics performance. Thus, the perceived benefits of remanufacturing of products, both environmentally and economically, as quoted in the literature are found not to be detrimental to system dynamics performance when a Kanban policy is used to control the remanufacturing process.     

Pitfalls in portfolio planning

This paper presents an analysis and comparison of the Boston Consulting Group, McKinsey & Co., and Arthur D. Little portfolio models and a discussion of the theoretical and operational problems with the general portfolio construct. The models seem to share the goal of optimizing the firm's financial performance and the same fundamental assumptions. The strategies suggested by each model will not always be the same because of differences in the structure of the three models. Also strategic analysis of each unit is necessary to avoid the pitfalls caused by the theoretical and operational problems with the portfolio construct.     

Where power resides in committees

The power to control decisions is rarely distributed equally in committees. In a small voting committee, in which members have conflicting interests, we study how the decision right to break ties (formal power) translates into effective control over outcomes (real power). Two controlled experiments show that the level of real power held by the chair is larger than predicted by rational-choice theory. We also provide causal evidence that the legitimacy, but not the salience, of holding formal tie-breaking power affects voting behavior and thus the distribution of real power in the committee. Attitudinal measures related to the perceived attractiveness of the decision right to break ties exhibit a strong asymmetry between the one holding the decision right and those who do not.     

The politics of evaluation research

Despite enormous outlays of federal monies for social programs in the United States, many social problems toward which these funds have been directed have shown little remission. In some cases, the problems have worsened. Increasingly, social planners and administrators are being required to offer some proof concerning the efficacy of their particular program before Congress will refund them. Evaluation research has come to serve this legitimization function. Unfortunately, because of the nature of the political environment surrounding evaluation research, “objective” research often proves impossible. Even the most carefully designed and well-implemented evaluation is often sabotaged by political factors. The nature of the roles that various actors in the political environment feel compelled to play vis à vis evaluation research creates problems that directly affect ultimate research quality. This article seeks to identify the nature of this problem, how it is manifested in the behaviour of various people in governmental power structures and how an environment might be designed to reduce the political volatility of evaluation research.     

Dual class shares,board of directors’ effectiveness and firm’s market value: an empirical study

This study aims to identify whether a relationship exists between the controlling shareholders’ voting power and outside directors’ effectiveness in maximizing firms’ financial performance. We analyze a panel data with 3057 observations for the 2000–2012 period using a random effects model, logit and probit regressions, and the two-stage model of Heckman in the Brazilian stock market. Our findings show that firms whose controlling shareholders use dual class shares to leverage their voting power have less independence from the board and worse financial performance and market value. Further, the percentage of outside directors tends to be ineffective in increasing the firm’s value, and in changing the firm’s chief executive officer (CEO) when (1) the controlling shareholder’s voting power is leveraged, or (2) when the CEO assumes a position on the board of directors simultaneously. We interpreted that these results are in line with the arguments in favor of the existence of a new agency cost, which is related to the undue obedience of board members to authority, such as the largest controlling shareholder or the CEO in Brazilian listed firms.     

A Fig Leaf for The Naked Corporation

The implementation of the Sarbanes-Oxley Act in the United States and the German Law of transparency and disclosure (TransPuG) lead to a claim for more disclosure of information with the goal of a “naked corporation” such that all information is available to the (potential) investors. In this article we pick up this debate and present arguments that the “naked corporation” does not offer an efficient degree of disclosure, as we have to distinguish between more and better information. Concerning the latter the new regulations are critical. Cognitive limitations and bounded rationality highlight the risk of information overload. Asymmetric information illustrates that self induced disclosure can do better than a mandatory one. Therefore the legislator should not be asked for specific informational contents but for regulations on the way of information provision.JEL Codes: K22, G34, D82