Intra-regional sales,product diversity,and the performance of merchandising multinationals

This study examines the relationship between intra-regional sales, product diversity, and performance of 45 merchandising firms using data from 1997 to 2003. The interaction effects between product diversity and intra-regional sales on performance are explored, using a curvilinear relationship. The analysis integrates three main theories, namely the resource-based view, transaction costs, and organization learning theory. The models measuring a firm's performance by return on assets (ROA) and return on sales (ROS) show that at high levels of intra-regional sales, small levels of product diversity can generate greater return to a firm but high levels of product diversity may hurt a firm's performance. Higher levels of intra-regional sales tend to improve a firm's performance and enhance the impact of product diversity on performance.     

Leadership and expectations: Pygmalion effects and other self-fulfilling prophecies in organizations

The Pygmalion effect is a type of self-fulfilling prophecy (SFP) in which raising manager expectations regarding subordinate performance boosts subordinate performance. Managers who are led to expect more of their subordinates lead them to greater achievement. Programmatic research findings from field experiments are reviewed, and our present knowledge about the Pygmalion effect in the management of industrial, sales, and military organizations is summarized. A model is presented in which leadership is hypothesized to be the key mediator through which manager expectations influence subordinate self-efficacy, performance expectations, motivation, effort, and performance. The behaviors that comprise the Pygmalion Leadership Style are described. Besides creating the one-on-one Pygmalion effect, additional ways for managers to assert their leadership by creating productive organizationwide SFP are suggested. An agenda for research on SFP applications is proposed.     

变革型领导与下属工作绩效及组织承诺:心理资本的中介作用

探讨变革型领导影响下属的深层心理作用机制,即变革型领导是否会通过下属心理资本的中介作用对下属工作绩效和组织承诺产生影响。以230位MBA学员为样本,采用结构方程模型的方法分析了变革型领导行为、下属工作绩效、组织承诺以及下属心理资本各维度间的关系。研究结果表明,下属心理资本中的自我效能、希望和恢复力对变革型领导行为与下属工作绩效的关系起到中介作用;下属心理资本中的自我效能和恢复力对变革型领导行为与下属组织承诺的关系起到中介作用。     

The Sources of Belief in Personal Capability: Antecedents of Self-Efficacy in Private Adaptation to Flood Risk

Self-efficacy is one of the strongest and most consistent drivers of private flood mitigation behavior; however, the factors influencing self-efficacy in the context of flooding remain unclear. The present study examines three potential antecedents of self-efficacy: personal and vicarious experiences of floods or building-related events, social norms for private flood preparedness, and personal competencies such as technical abilities and social skills. While controlling for other drivers in a protection motivation theory (PMT) framework, these antecedents are tested as precursors of self-efficacy and intentions to improve flood resilience. Structural equation modeling is applied to conduct mediation analyses with survey data of 381 flood-prone households in Austria. Contrary to theoretical expectations, personal and vicarious experiences do not predict self-efficacy, presumably because rare flood events and changing hazard characteristics do not facilitate generalizable performance accomplishments. Social norms strongly and consistently influence self-efficacy, especially for actions observable by others, and also directly influence protective responses. Personal competencies increase self-efficacy and support protective action, particularly with regard to preventive and structural measures. The strength and direction of the antecedents of self-efficacy as well as of other PMT determinants vary between general and specific protective responses. This study provides important insights for risk managers, suggesting that interventions involving social norms and personal competencies can be effective in stimulating self-efficacy and, in turn, private flood mitigation. Interventions and research should clearly differentiate between general intention and the implementation of specific measures, and should address cumulative, synergistic, or tradeoff interrelations between multiple measures.     

The effects of leadership style on stress outcomes

The present study manipulated transformational and transactional leadership styles to examine their influence on individuals' performance on a stressful task, and on perceived social support, self-efficacy beliefs, emotions, and stressor appraisals. In addition, this study examined whether these variables mediated the relationship between leadership style and performance. Two hundred fourteen participants viewed video instructions for a stressful task presented by an actor depicting one of three leadership styles (transformational, transactional-contingent reward, and transactional-management by exception). Participants' psychological, emotional, and motivational responses to the videos were assessed prior to their engagement with the task. The transformational leadership condition was associated with enhanced task performance, higher social support perceptions, greater efficacy beliefs, lower negative affect, and lower threat appraisals compared to the transactional conditions. Causal modeling revealed that leadership style had a direct, rather than indirect, effect on task performance. The present research extends leadership research by providing an experimental evaluation of the costs/benefits of transformational and transactional leadership under stressful task conditions. Some of the results parallel those from correlational field studies, thus corroborating transformational leadership theory while other results diverge from theory, but present opportunities for future research.     

The Pygmalion Process and Employee Creativity

The study examined the Pygmalion process for creativity among 140 R&D employees. Results generally supported the Pygmalion model. Supervisors holding higher expectations for employee creativity were perceived by employees as behaving more supportively of creativity. The effects of these behaviors on employee creative self-efficacy were mediated by employee view of creativity expectations. Creative self-efficacy mediated the effects of supervisor expectations, supervisor behaviors, and employee view, on creative performance. Implications for theory and practice are discussed.     

Employee reactions to behavioural control under conditions of stress: the moderating role of self-efficacy

Extensive research conducted in the occupational stress literature has failed to provide convincing support for the stress-buffering effects of work control on employee adjustment. Drawing on research conducted in the laboratory context, it was proposed that the stress-buffering effects of work control on employee adjustment would be more marked at high, rather than low, levels of self-efficacy. In a sample of 100 customer service representatives, a significant three-way interaction among role conflict, work control and self-efficacy (measured at Time 1) was observed on (low) depersonalization (measured at Time 2). Consistent with expectations, work control reduced the negative effects of work stress on this outcome measure only for employees who perceived high levels of self-efficacy at work. In addition, there was evidence to suggest that self-efficacy moderated the main effects of work control on job satisfaction and somatic health. These findings are discussed in terms of their theoretical contribution to the job strain model, and also in relation to workplace interventions designed to improve levels of employee adjustment.     

Employee reactions to behavioural control under conditions of stress: The moderating role of self-efficacy

Extensive research conducted in the occupational stress literature has failed to provide convincing support for the stress-buffering effects of work control on employee adjustment. Drawing on research conducted in the laboratory context, it was proposed that the stress-buffering effects of work control on employee adjustment would be more marked at high, rather than low, levels of self-efficacy. In a sample of 100 customer service representatives, a significant three-way interaction among role conflict, work control and self-efficacy (measured at Time 1) was observed on (low) depersonalization (measured at Time 2). Consistent with expectations, work control reduced the negative effects of work stress on this outcome measure only for employees who perceived high levels of self-efficacy at work. In addition, there was evidence to suggest that self-efficacy moderated the main effects of work control on job satisfaction and somatic health. These findings are discussed in terms of their theoretical contribution to the job strain model, and also in relation to workplace interventions designed to improve levels of employee adjustment.     

INCORPORATING SALES FORCE PREFERENCES IN A GOAL PROGRAMMING MODEL FOR THE SALES RESOURCE ALLOCATION PROBLEM

This note presents a model for the sales territory assignment and resource allocation problem. The integer-goal-programming model includes input from the sales representatives in the form of preference values along with organizational goal values from management. The approach integrates the multiple objectiive inputs both for individual sales reprresentatives and for the organization into a single model by employing the approaches of multiattribute utility theory and multicriteria decision making. The purpose of the model is to provide a vehicle for testing various strategies and assessing the impact of those strategies on the sales representatives’utilities and the organization's goals.     

投资者异质信念、预期演化与股票市场流动性

投资者异质信念不但是股票市场的现实，也会引起股票市场流动性的变化。本文建立从两期到多期的交易模型，利用马尔科夫决策过程模拟投资者的预期演化，旨在分析由于信息不对称和认知偏差导致的多种异质信念共存的情况下，投资者异质信念与股票市场流动性的内在关系。研究发现，投资者异质信念的波动程度、投资者风险厌恶程度和信息不对称程度均与股票市场流动性呈现负相关关系；而投资者规模与股票市场流动性正相关。利用MATLAB软件数值模拟多期交易过程，验证了在投资者预期演化的情况下，上述规律仍然成立。研究结论在一定程度上拓展了行为金融和市场微观结构的研究范畴，也对投资者优化决策行为及监管部门加强流动性管理有一定的参考价值。     

The value of a firm’s engagement in ESG practices: Are we looking at the right side?

Firms allocate many resources to environmental, social, and governance (ESG) issues and to growth options as if they were independent sources of value. Challenging this view, this paper explores the interplay of a firm's engagement in ESG practices and growth options in determining its total value. We draw upon real options reasoning to explain how ESG practices can carry two opposite (trust-enhancing and risk-reducing) forces, driving an inverted U-form relationship between ESG performance and growth options value. Moreover, we argue that ESG performance and growth options are likely to build substitutive insurance mechanisms which might exert a negative moderating effect of growth options on the relationship between ESG performance and a firm's total value. Empirical analyses of ESG scores and growth options values on a panel of U.S. firms from 2009 to 2018 provide substantial support for our hypotheses. Our results show that the inverted U-form relationship between ESG performance and growth options value becomes stronger for the environmental and social pillars. Our evidence on the moderating effect of growth option values also provides valuable insights for interpreting prior conflicting empirical evidence on the association between ESG performance and a firm's total value.     

Attributes of Successful and Unsuccessful Acquisitions of US Firms

Acquisitive growth strategies continue to be popular, in spite of increasing evidence that they often do not enhance the financial performance of acquiring firms and may adversely affect innovation. However, some acquisitions are associated with both increases in financial performance and a strengthened commitment to R&D while others experience decreases in both. Multiple theories have been offered to explain acquisitions and their outcomes, but few have received strong empirical support. This paper describes a multiple rater, multiple-case study of acquisitions that had highly favourable outcomes and others that experienced highly unfavourable outcomes. All twelve of the high performing acquisitions studied were found to exhibit the dual characteristics of friendliness during acquisition negotiations and resource complementarities between the two firms. Additionally, debt played an important role in the success (low to moderate debt) or lack of success (high or extraordinary debt) in 21 of the 24 acquisitions studied. Inadequate target evaluation was a factor in 11 of the 12 acquisitions with low performance. Importantly, the results of both sets of acquisitions suggested that a configuration of attributes affected post-acquisition performance. Other findings both supported and contradicted commonly held beliefs about acquisitions, as well as highlighted variables not typically associated with acquisition strategies. The study provides directions for future theory development and empirical research on acquisitions.     

Employment Relationships and Firm Innovation: The Double Role of Human Capital

We examine how employment relationships and human capital influence innovation in a sample of Spanish firms. Previous research has indicated that human capital directly affects innovation, but few studies have considered human capital as a variable that mediates or moderates the effects of other variables on innovation. We tested our hypotheses using a sample of 150 innovative Spanish firms and confirmed that, while human capital favours innovations, employment relationships are not directly associated with innovation unless they take human capital into account. Specifically, our analyses suggest that human capital mediates the relationship between a mutual investment employment relationship and innovation, which is characterized by high levels of incentives and expectations. However, we also found that human capital plays a moderating role when organizations develop an employment relationship characterized by low investments in personnel but high expectations from their work (the underinvestment model). We discuss the theoretical and practical implications of these results.     

Cultural diversity: an exercise in elaboration

This paper explores how I used personal construct theory (PCT) to underpin an intervention I designed and delivered to improve organizational effectiveness. The aim was to help improve the poor relationship between one of the teams in the organization I work for and representatives of their American customer which was adversely affected by cultural misunderstanding. I used a variety of tools and techniques to help individuals explore their understanding of each other's beliefs, values and language and its impact on the relationship. Delegates embarked on a journey that took them from the generic macro level of cultural stereotypes and perceptions to the micro-level of what these actually meant in their individual relationships. PCT provides a strong, robust framework for understanding one another's world from within. Because it is based on a strong theoretical base it provides guidelines within which the practitioner can, effectively and efficiently, work.     

Increasing Sales by Managing the Interlocking Contingencies Between Sales Representatives and Customers Using Behavioral Self-Monitoring

Interlocking contingencies that exist between a customer and sales representatives (SRs) may contribute to buying decisions. Verbal behaviors related to closing sales were identified by analyzing these contingencies statistically. Self-observation checklists were then implemented. On average, the six targeted verbal behaviors related to sales increased 12 percentage points over baseline, compared to a 2% point increase in the comparison group. These changes were associated with 126% more sales for the experimental group compared with 36% more sales for the comparison group. For each SR, this increase in sales translates into $1,094,444 more in annualized revenue.     

员工动机对双元销售行为的影响研究:传统性的调节作用

营销人员经常面临现有产品销售和新产品销售之间的悖论,需要采用不同的方式来应对两种销售行为之间的冲突。本研究根据内外动机理论,探究不同动机影响下的销售行为,同时揭示国人的传统性对动机与产品销售两者关系的调节作用。本研究开发了中国情境下的双元销售行为量表,具有良好的信度（0.896）。实证结果表明：（1）内在动机与现有产品和新产品的双元销售行为之间呈现显著的正相关关系,外在动机与现有产品和新产品的双元销售行为呈不显著的正向关系。（2）中国传统性对营销人员的产品销售行为的直接影响作用非常显著,但传统性与内外动机的调节作用表现出多样性。（3）传统性与内在动机的交乘项对双元销售行为起不显著的负向调节作用。（4）传统性与外在动机的交乘项对现有产品销售起不显著的正向影响,对新产品销售起不显著的负向影响。     

Leaders' conceptions of followers: Implications for naturally occurring Pygmalion effects

We investigated the relationships between leaders' implicit followership theories (LIFTs) (conceptions of followers) and naturally occurring Pygmalion effects (leaders' high performance expectations that improve follower performance). Results based on 151 workplace leader–follower dyads supported a model of naturally occurring Pygmalion effects. Positive LIFTs led to higher performance expectations, liking, and relationship quality from leaders, which impacted follower performance. Supervisory experience moderated the relationship between positive LIFTs and leaders' performance expectations for their followers, such that the performance expectations of leaders with less supervisory experience were more strongly influenced by their conceptions of followers. Implications of the findings for improving follower performance are discussed. Suggestions for future research are offered: antecedents of LIFTs, negative LIFTs, Golem effects, and role reversed Pygmalion effects, among others.     

Ethical leadership and follower voice and performance: The role of follower identifications and entity morality beliefs

Previous studies have established the relationship between ethical leadership and a variety of positive follower outcomes. Follower organizational identification has been found to mediate the relationship between ethical leadership and follower job performance. In this research, we incorporate a second distinct and theoretically important type of social identification process, relational identification with the leader, along with organizational identification, and examine their mediating effects on follower performance and voice outcomes. Further, we bring the implicit theory of morality to the behavioral ethics literature and examine follower morality beliefs as a moderator. Using a Romanian sample of 302 followers under the supervision of 27 leaders, we found that ethical leadership has an indirect effect on follower job performance and voice (through the mediating mechanisms of both organizational and relational identifications) and that these relationships are stronger for followers who held the implicit theory that a person's moral character is fixed.     

How planning and capital budgeting improve SME performance

This paper focuses on the use of strategic planning among small and medium sized enterprises (SMEs) in the UK manufacturing sector. It analyses the relationship between the intensity of strategic planning, business objectives, perceived performance, changes in the business environment and the use of capital budgeting techniques. Capital budgeting is of particular interest as an area of investigation, and is one which has seldom featured in previous studies of strategic planning behaviour. These issues were investigated via a survey of UK manufacturing SMEs carried out in the winter of 1996/97.

The key results suggest that SMEs incorporate a range of objectives into their strategic planning process, with profit improvement perceived to be the most important objective, followed by sales growth. SMEs engaged in detailed strategic planning are more likely to use formal capital budgeting techniques, including the net present value method, which is consistent with maximising the companys' value. Perceived profitability and success in achieving organisational objectives were positively associated with planning detail, suggesting that strategic planning is a key component improving performance. Planning detail was also associated with a significantly higher level of perceived change in the business environment.     

The impact of project team characteristics and client collaboration on project agility and project success: An empirical study

Although many companies pursue agile projects, extant literature reveals a lack of research on project agility determinants. This study examines the project team characteristics' impact on project agility and success using cross-sectional survey data from 292 agile projects. Using agile principles and complex adaptive systems theory, we find that project team autonomy, team diversity, and client collaboration have significant positive relationships with project agility. Project agility, in turn, has a significant positive relationship to project success. We measure project success by on-time completion, on-budget completion, specifications' attainment, and success rating by the project sponsor, client, and project team members. We find that project team members' adaptive performance partially mediates the relationship between project agility and success. These results guide agile project managers while facilitating team members to independently schedule their work, determine effective work methods, and develop innovative solutions. Moreover, they help agile managers recruit team members with relevant, diverse skill sets, domain knowledge, and expertise. Agile project managers must emphasize client collaboration in requirements gathering, designing, testing, and project reviews.