Defining and Dimensionalising Diversity:: Evidence from Corporate Websites across Europe

The corporate ‘diversity statement’ is a new tool increasingly used by large companies to promote diversity management policies on their websites. Through an examination of these on-line texts, we identify how companies construct the meaning of ‘diversity’ through its dimensions. Few companies actually define diversity. However, dimensions of diversity cover a wide-ranging set of individual differences, not just gender and race but other visible and less visible differences that might lead to discrimination in the workplace. By comparing statements from 241 top companies in eight countries (Finland, France, Germany, Netherlands, Norway, Sweden, Switzerland and the UK), we reveal how the definition of ‘diversity’ and its dimensions as used on websites varies across Europe.     

The contingent nature of best practices in national competitiveness: The case of American and Japanese innovation processes

We propose that the differences in competitiveness of companies from different countries is not just a question of the adoption of ‘better’ management models, as conventional wisdom would have us believe; rather, we contend that national competitiveness can change radically over time without significant changes in management practices. Contrary to much of the management literature we hold that changes in the global business environment often determine to a large degree the competitiveness of companies. Based on our assumptions we offer four specific lessons of how companies can increase their competitiveness within the constraints of the socio-cultural context in which they operate.     

大股东性质与企业绩效——国有股减持的一个经验证据

以我国上市公司为样本,研究了大股东所有权性质变更对公司绩效的影响。所选样本在样本区间的实证结果表明,从总体上看,企业由政府直接控制型公司转变为非政府直接控制型公司后,仅表现出显著的盈余管理,公司盈利能力没有发生变化。进一步分析发现,其中发生了高层管理人员更换(简称“高层更换”)的公司,短期盈利能力显著提高;面临激烈市场竞争的企业,盈利能力得到了根本改善。研究结果为国有股减持和股权多元化提供了经验证据,论证了引入市场导向的大股东、健全经营者任免机制和加强市场竞争对深化企业改革的意义。     

Can former Soviet Union top managers of large industries become successful leaders of privatized corporations?

Management training as a facilitative process in organizational change is a complicated undertaking even in the most innovative companies in the West. The Russian context adds problems of cultural and management unfamiliarity with the socio-business and the political environment within which Western management trainers operate. In the early 1990s 180 Russian senior managers from four large state corporations participated in a training-needs analysis, which was to estimate the level of knowledge of how market economy concepts work in the West. They were asked to 1) state their organization's training objectives, 2) indicate their understanding of the process, and 3) indicate the level of their personal ownership in carrying out the training objectives. The results showed that Russian top industrial management had no experience of top decisionmaking processes, and individually they felt disorientated by the collapse of the former Soviet Union. Their historical understanding of their professional roles and distrust of the present changes left them demotivated and without any constructive personal aspirations. By 1998, after a period of focusing solely on financial auditing training, large Russian companies began to be interested in management training and development programmes. These findings have some basic cultural implications for Western trainers working with Russian management.     

Strategic Responses by European Companies to the Diversity Challenge: an Online Comparison

Diversity management is a rethinking and reframing of equality management. It has particular significance in Europe with its increasingly diverse populations, homogenous leaders and aging workforce. Corporate websites are often the first point of call for prospective recruits, partners and investors, and they often contain ‘diversity statements’. This study investigates the web-based promotion of ‘diversity’ by 241 leading companies in eight European countries. This paper focuses particularly on the drivers and stages of diversity management and finds large differences across Europe. It identifies drivers for diversity management as better performance, enhancing corporate reputation and meeting stakeholder needs. The authors also found six stages of diversity management implementation and discuss their implications for human resource management.     

THE IMPACT OF LOCAL CONTENT RULES ON GLOBAL SOURCING DECISIONS

Many governments have established, for various reasons, local confent purchasing rules for companies that wish to operate in their country. These requirements force firms to purchase a certain amount of components from suppliers located in that country. This paper describes local content rules and develops models to select suppliers while satisfying local content provisions. The single plant model can be transformed into a knapsack problem that is solved by a ranking procedure, and the solution provides insight as to the manner in which local content rules impact more generalized models. Furthermore, we illustrate possible negative effects to local industry that may result when governments set the local content percentage too high, and we discuss methods for companies to circumvent local content rules. Finally, we address the issue of local content rules in the context of multi-plant global sourcing decisions, and we provide an efficient solution procedure for the classical plant location model extended to include local content rules at each site     

Assigning migrants to customer contact jobs: a context-specific exploration of the business case for diversity

Ethnic diversity of both their labor forces and customer bases presents a challenge for companies and fuels debate on the business case for diversity: the view that diversity positively impacts firm performance. This study enriches the business case debate by focusing on a particular organizational activity, customer contact. It combines theory from strategic human resource management (SHRM), research on diversity, and research on marketing to analyze what drives companies to assign migrants to customer contact jobs and which performance impacts ensue. We test our hypotheses in data from 338 German business companies. Companies that recognize the value in ethnic diversity and seek to respond to customer diversity are especially likely to assign migrants to customer contact jobs. The analyses reveal a positive impact of migrants in customer contact jobs on company profitability. This impact is enhanced by a broad range of equality and diversity practices and a supportive works council. These moderators have stronger effects than two other moderators related to business strategy: the market served by a company, and its competitive strategy. The paper contributes to SHRM research in general and diversity research in particular through its original examination associating the business case for ethnic diversity with the role of equality and diversity practices and institutions. The study findings can help managers to decide whether to leverage staff ethnic diversity and show that collaboration between HR management and marketing functions is useful to achieve a strategic fit among practices.     

Women on boards and firm performance

This study investigates the financial performance of Dutch companies both with and without women on their boards. The analysis extends earlier methods used in research by Catalyst (The bottom line: corporate performance and women’s representation on boards, 2007) and McKinsey (Women matter. Gender diversity, a corporate performance driver. McKinsey & Company, USA, 2007), two studies that are often cited in the literature, although, each has a number of methodological shortcomings. This article adds to the international debate, which is often normative, through examining 99 listed companies in the Dutch Female Board Index. Our results show that firms with women directors perform better than those without women on their boards.     

Sustaining the Financial Value of Global CSR: Reconciling Corporate and Stakeholder Interests in a Less Regulated Environment

In this article we examine the association between corporate social responsibility (CSR) and firm value. This line of research is important since firms continue to invest in CSR even though past studies reveal a limited linkage between financial value and CSR. However, the business case for CSR or “doing good while making a profit,” appears to be advancing within the business ethics literature as a preferred conception of CSR. We conjecture that the greater unification and refinement of both profit maximization and stakeholder interests through corporate acts, not statements alone, will sustain the financial value of CSR in a less regulated global business environment. We study the triangle of what companies say, what companies do, and firm financial performance. We analyze Fortune 250 firms and find a positive association between what companies do based on KLD Research and Analytics, Inc. (KLD) ratings, and what companies state about ethics in their CSR statements. We then employ regression analysis and find that companies’ socially responsible acts are positively associated with overall firm value and financial performance. Yet we do not find a statistically significant association between what companies say regarding ethics in their CSR statements and their financial outcomes. These results suggest that firm value and financial performance is associated with what companies do and not what they say. Our results seem to be driven by multinational corporations (MNCs) and not by non‐MNCs. This is possibly because MNCs generally operate in a less regulated global business environment that often necessitates strong ethical corporate leadership to further stakeholder interests. Overall, these results help reconcile corporate and stakeholder objectives since evidence of a link between financial performance and doing good sustains global CSR.     

A Multi‐layered Exploration of the Diversity Management Field: Diversity Discourses,Practices and Practitioners in the UK

This paper presents a multi‐layered exploration of the diversity management field in the UK. In doing so, it aims to address two problematic tendencies in the current diversity research: the focus on single‐level explorations, and the polarization between critical and mainstream approaches. Using Bourdieu's concept of field, I develop a theoretical framework that conceptualizes the field of diversity management in three constituents: diversity discourse, diversity practice and diversity practitioners. The framework is used to analyse empirical evidence generated through semi‐structured interviews with 19 diversity managers of large private‐sector companies. This study reveals the presence of a gap between the diversity discourse and practice, and the absence of any standard set of qualifications and skills requirement for practitioners. The findings demonstrate the twofold role of discourse in drawing the boundaries of the diversity management field. First, it is instrumental in constructing diversity management as distinct from equal opportunities. Second, the use discourse functions as a mechanism to control the entry of practitioners into this field, which otherwise has low entry barriers. The paper offers a contribution to management research in general and equality and diversity research in particular through its original use of Bourdieuan sociology in an empirical study.     

Evaluating the dynamic performances of business groups from the carry-over perspective: A case study of Taiwan׳s semiconductor industry

This study evaluates the dynamic operating performances of Taiwan׳s semiconductor industry from 2006 to 2012 by using the dynamic DEA, a technique based on the perspective of inter-period carry-over in accounting. The industry׳s various characteristics are investigated to determine their relationships to the semiconductor industry׳s efficiency. The following empirical results are found: companies within a business group are more efficient on average than ones under a non-business group; while integrated circuit (IC) design companies are more efficient than others, companies with high level scopes generally operate better than those with low level scopes. The potential applications and strengths of using DEA to assess the semiconductor industry are also highlighted.     

Internationalizing managers: Speeding up the process

Most multinational companies agree that their managers need international expertise; but a recent survey surprisingly revealed that more than half of the large European corporations participating in the study lacked a strategy — either in writing or as a commonly articulated value — for internationalizing their managers (Price Waterhouse/Cranfield, 1991, p. 14). Not only must cutting-edge companies implement this process, but they have to find ways to speed it up to stay competitive.Brooklyn Derr and Gary Oddou report a 1991 survey conducted with 105 European multinationals employing an average of 30,000 workers each. The respondents, usually directors of human resource management and management development, identified the current strategies most frequently used to internationalize their firms, the importance assigned these strategies (not necessarily the same thing), and short-range trends. The article also explores the different challenges presented by attempting to internationalize senior managers as compared to junior managers.Expatriation/repatriation has been the traditional means of internationalizing managers, but companies are not doing a uniformly able job in preparing their managers for expatriation nor in taking advantage of their expertise after they return. In addition to making recommendations about expatriation/repatriation, the authors suggest newer, faster practices for internationalizing managers.     

Stakeholder Reporting: The Role of Intermediaries

Corporate social responsibility encompasses a multiplicity of different concepts, such that its nature is confused, and it remains difficult to operationalize because opening dialogue with and responding to the various expectations of diverse stakeholders is beyond the capacity of many companies. This paper adapts Mayston's normative “information beneficiaries” framework and focuses on intermediaries who might potentially use published financial information to open a restricted form of dialogue with companies, which might benefit unsophisticated stakeholders. The paper examines the Mayston framework using interviews conducted in organizations that might act on behalf of three stakeholder groups associated with gas and electricity suppliers in the United Kingdom, these being: consumers, employees, and the environment. While a long chain of communication exists between utility company and stakeholder, and many organizations do not fulfill their full potential as information intermediaries, there is some evidence that Mayston's framework might well operate in practice.     

Shareholders and managers: Who care more about corporate diversity and employee benefits?

We test two competing theories that explain a firm’s engagement in corporate diversity and employee benefits: socially responsible investment theory and management overinvestment theory. We find that publicly-traded companies with strong shareholder rights are more likely to promote women and/or minorities to the positions of CEO and board of directors in their organizations, conduct business with women- and/or minority-owned operations, and provide better family benefits to their employees than firms with strong management power. These findings indicate that the companies with strong shareholder rights engage more actively in internal aspects of CSR activities, which supports the socially responsible investment theory rather than the management overinvestment theory. Shareholders (i.e. institutional investors) tend to integrate their social goals (i.e. internal CSR issues) and financial goals into their investments. In response to these changes, managers should engage in the internal aspects of corporate social issues more aggressively as the agents of shareholders.     

Safe Climate, Sound Business

Increasingly, global environmental trends such as climate change are impacting human and ecological health and the ability of business to operate. Business needs to act now to limit greenhouse gases and prepare for changes already underway. Business can play a significant part in providing solutions that are profitable for society and business. A select group of leadership companies are already demonstrating this.The best strategy for business to prepare for a future with more pressing environmental problems and stricter regulations is to be bold and proactive. Partnerships with external organizations are key to helping companies succeed at creating value through sustainable development strategies. The World Resources Institute's Safe Climate, Sound Business Initiative seeks to engage corporate partners in actively developing and implementing solutions to climate change. Through projects such as the Greenhouse Gas Protocol Initiative and the Green Power Market Development Group, companies are improving profitability even as they lead the trend towards sustainability and address climate change.     

参与农产品区域公用品牌提升的三方演化博弈

农产品区域公用品牌建设在乡村振兴中发挥着重要作用,如何提升农产品区域公用品牌一直是各方关注的焦点。本文运用演化博弈方法,探讨了在提升农产品区域公用品牌过程中,不同场景下各参与主体如何进行策略选择,并用数值仿真对相关结论进行分析。研究结果表明：演化稳定策略受政府补贴力度、奖励、收益和成本的影响;合适的补贴力度有利于三方的共同参与,即农产品生产企业提升产品质量、品牌运营公司积极运营、地方政府严格监管;品牌运营公司给予企业的奖励应在一个合理的范围,同时上级政府增加对地方政府的奖励,也有利于三方共同的参与;降低参与成本和提升参与收益有利于激励农产品生产企业和品牌运营公司参与提升农产品区域公用品牌。     

Institutional investors: the vote as a tool of governance

Institutional investors are increasingly expected to engage with their investee companies to try to help ensure that the investee companies have an appropriate corporate governance structure and that they operate according to corporate governance best practice. There are a number of ‘tools of governance’ which institutional investors might utilise including constructive dialogue and voting. In this paper, the growth of institutional investors is discussed together with the development of the vote as one of the most powerful means that institutional investors have at their disposal. The cases of two of the UK’s largest and most active institutional investors are discussed to show how the vote is used in practice. The resolutions which tend to be the most contentious are those relating to the appointment/re-election of directors and board composition; remuneration packages and incentive schemes; and strategic issues that may impact on shareholders’ rights/ownership interests. The paper also contains an analysis of the resolutions which occur most frequently together with the average levels of dissent on such issues in various European countries: Austria, Belgium, France, the UK, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden and Switzerland. The barriers to voting that may arise are examined; such barriers include control enhancing mechanisms which are prevalent in many European countries as well as on a wider global basis.     

Total quality control: Lessons European executives can learn from Japanese companies

This paper reports the finding of a Mission to Japan by 18 executives to study the total quality control activities of 8 companies from diverse industries. A number of the companies can be classified as world class. In the companies studied the dedication, vision and planning for total quality control, development of policy and setting of improvement objectives at each level in the organisation structure, and attention to detail in the production preparation stage is without equal in the majority of Western organisations. It is also pointed out that the housekeeping of Japanese companies is first class and all the companies studied said their greatest assets are employees.     

The freight allocation problem with all-units quantity-based discount: A heuristic algorithm

This paper studies a problem encountered by a buying office for one of the largest retail distributors in the world. An important task for the buying office is to plan the distribution of goods from Asia to various destinations across Europe. The goods are transported along shipping lanes by shipping companies, which offer different discount rates depending on the freight quantity. To increase the reliability of transportation, the shipper imposes a quantity limit on each shipping company on each shipping lane. To guarantee a minimum business volume, each shipping company requests a minimum total freight quantity over all lanes if it is contracted. The task involves allocating projected demand of each shipping lane to shipping companies subject to the above conditions such that the total cost is minimized.Existing work on this and related problems employs commercial linear programming software to solve their models. However, since the problem is NP−hard in the strong sense, it is unlikely to be solvable optimally in reasonable time for large cases. Hence, we propose the first heuristic-based algorithm for the problem, which combines a filter-and-fan search scheme with a tabu search mechanism. Experiments on randomly generated test instances show that as the size of the problem increases, our algorithm produces superior solutions in less time compared to a leading mixed-integer programming solver.     

Evidence of Managerial Short-termism in the UK

This paper considers an aspect of possible managerial short-termism in the UK. It discusses some potential motivations for that phenomenon and presents evidence which suggests that short-termism exists and is positively associated with managerial perceptions of capital market valuation practices. Two hypotheses were developed and tested using the responses concerning R&D expenditure obtained from a postal questionnaire sent to the finance directors of theTimes 1000companies. These were that many top managers in UK quoted companies behave in a ‘short-termist’ manner; and that the extent to which managers behave as hypothesized above is positively associated with their perceptions of the level of emphasis placed by the capital market on measurements related to short-term reported earnings. The results obtained support the hypotheses. Overall, the evidence of the paper is consistent with the view that many finance directors of large UK companies are short-termist in their perceptions and that such short-termism is positively associated with their beliefs about the level of emphasis placed by the capital market on figures of reported earnings.