Portfolio theory—A planning tool

Portfolio theory is a relatively new development in the area of asset selection and diversification. Nevertheless, many articles, books and dissertations have been written to elaborate on the original concepts to such an extent that portfolio theory is now accepted doctrine in the field of finance.Portfolio theory deals with the rules for the intelligent selection of assets under conditions of risk. In this respect it is similar to planning, part of which consists of examining alternative courses of future action. Most of the research concerning portfolio theory has been directed toward the securities markets. Therefore, some of the terminology is investment oriented. Nevertheless, the concepts developed in portfolio theory can be applied to decisions concerning investments or to decisions that are part of a corporate plan. Think of investing in a security as being analogous to investing in a subsidiary, division, or product line. This article explains the major features of portfolio theory with the hope that corporate decision makers will use portfolio theory as a planning tool.     

Marketing Theory Matters

There have been concerns about the slow pace of theory development inside and outside of marketing for a number of years. Rarely have some of the possible reasons for this lack of development been considered, or an assessment of the ways in which a more theoretically driven focus might emerge been discussed. This paper addresses these gaps in the current debate. Potential difficulties have emerged as a result of a lack of theorists, lack of theory courses, business school strategies and misguided perceptions of practitioner-oriented research amongst other things. Suggestions for future action to drive a more theoretically driven marketing are proposed.     

Political Corporate Social Responsibility: Reviewing Theories and Setting New Agendas

There has been rising interest in political corporate social responsibility (political CSR), defined as activities where CSR has an intended or unintended political impact, or where intended or unintended political impacts on CSR exist. Based on a survey and content analysis of 146 peer‐reviewed academic articles from 18 journals over the 14‐year period 2000–2013, this paper systematically reviews the existing applications of general theories (such as legitimacy theory, the resource‐based view and Habermasian political theory) within the political CSR literature. The survey indicates that the political CSR field is dominated by institutional theory and stakeholder theory, but future theory development needs to go beyond these theories in order to address a number of critical gaps. This review specifically points to several avenues for future political CSR research with regard to the individual level of analysis, domain integration and political CSR in multinational enterprises. The paper ends with a call for a new theory‐informed and pluralist research agenda on political CSR to integrate different perspectives and re‐examine the role of the state.     

The use of constructive-developmental theory to advance the understanding of leadership

Constructive-developmental theory is a stage theory of adult development that focuses on the growth and elaboration of a person's ways of understanding the self and the world. In this article we review how the constructive-developmental frameworks of Kegan [Kegan, R. (1982). The evolving self: Problem and process in human development. Cambridge, MA: Harvard University Press], Torbert [Torbert, W. R. (1987). Managing the corporate dream: Restructuring for long-term success. Homewood, IL: Dow Jones-Irwin.], and Kohlberg [Kohlberg, L. (1969). Stage and sequence: The cognitive developmental approach to socialization. In D. Goslin (Ed.), Handbook of socialization: Theory and research. New York: Rand McNally] have been applied in the theoretical and empirical literature on leadership and management. Although the literature has produced a number of propositions, the notion that a leader's order of development should impact his or her leadership effectiveness or managerial performance has generated the most research. We found mixed support for this proposition as well as a number of limitations in the research in general. To have a greater impact on the leadership field, constructive-developmental theory needs to generate more robust research, to link more clearly with on-going streams of leadership research, and to explore the contribution of aspects of the theory beyond individual order of development.     

基于“发展”导向的企业绩效评价研究

针对适应市场经济的需要,本文提出了基于“发展”导向的企业评价理论与方法。首先,从企业评价理论发展和实践需要的角度,分析了建立基于“发展”导向的企业评价理论与方法的必要性,然后,以煤炭企业为例,从数量性、竞争力、有效性、风险性四个侧面构建了煤炭企业发展绩效评价的指标体系。针对煤炭企业发展依赖于其基础条件的天然性,呈现明显的“资源”与“区位”优势,而形成企业间的投入与产出“级差”的特点,提出其评价标准的确定应在对企业分类基础上进行,并依据科学性、动态性、激励性、公认性、可计量性等原则和各个指标的性质与特点,采用相应的方法确定了各个指标的评价标准。最后,建立了煤炭企业发展绩效综合评价模型。     

创业机会真能促进创业意愿产生吗——基于创业自我效能与感知风险的混合效应研究

本文在国内外研究的基础上,开发出了创业自我效能、感知风险、创业机会识别与创业意愿之间关系的概念模型。通过中国创业者的调查数据,检验了创业自我效能、感知风险对创业机会识别与创业意愿之间混合作用关系。研究结果表明,创业机会识别有助于创业意愿产生;创业自我效能在显著影响创业意愿的同时还具有显著的中介效应,但有调节的中介效应不显著;感知风险显著影响创业意愿,具有显著的调节效应的同时还具有显著的有中介的调节效应,这方面的效应在创业者感知损失上体现的尤为突出。     

Leadership skills for a changing world: Solving complex social problems

Leadership has traditionally been seen as a distinctly interpersonal phenomenon demonstrated in the interactions between leaders and subordinates. The theory of leadership presented in this article proposes that effective leadership behavior fundamentally depends upon the leader's ability to solve the kinds of complex social problems that arise in organizations. The skills that make this type of complex social problem solving possible are discussed. The differential characteristics and career experiences likely to influence the development of these skills also are considered along with the implications of these observations for leadership theory and for the career development of organizational leaders.     

A Path Analytic Model of a Theory of Quality Management Underlying the Deming Management Method: Preliminary Empirical Findings*

Despite the impact that Deming and his 14 Points have had on the practice of quality management, empirical support for the effectiveness of the Deming Management Method has not advanced beyond the presentation of anecdotal, case-study evidence. In part, this is because theory to guide the conduct of empirical research has not been available. Only recently has such a theory of quality management to describe and explain the effectiveness of the Deming Management Method been articulated in the literature. This paper continues the journey of theory development; it reports the results of an exploratory empirical analysis of an articulated theory of quality management underlying the Deming Management Method. The constructs in the proposed theory are operationalized using measurement statements developed by the World-Class Manufacturing research project team at the University of Minnesota and Iowa State University. Path analysis is applied to the World-Class Manufacturing project data to explore the empirical strength of relationships advanced in the theory. The path analytic results provide support for several of the proposed relationships in the theory, and more importantly, suggest a number of new relationships which have not heretofore been proposed.     

Understanding innovation performance and its antecedents: A socio-cognitive model

Little attention in the previous literature has been paid to understanding employees’ factors that drive customer development knowledge and performance from the perspective of social psychology. Drawing on social cognitive theory, this study validates a research model that examines the above issue. In the setting of new product development across high-tech firms in Taiwan, this study postulates that innovation self-efficacy, role conflict, and role ambiguity influence innovation performance directly and indirectly via the mediation of customer knowledge development and innovation outcome expectation. This study contributes to the social science literature by applying social cognitive theory to the rarely explored area of innovation performance and by presenting an operationalization of role stressors (i.e., role ambiguity and role conflict) in the area. Lastly, managerial implications and limitations from the empirical findings are provided.     

和谐管理理论及其应用述评

经过三十余年的发展,和谐管理理论已经被我国管理学者应用到深化管理学理论创新以及引领管理实践变革的各个方面。面对充满了不确定性、模糊性、复杂性以及快变性的商业管理环境,和谐管理理论逐渐体现出了其整合东西方管理智慧、与管理情境紧密结合以创造性地解决复杂问题的基本思想,以及在应用该理论过程中体现出了"动态"与"迭代"特征。本文通过对和谐管理理论相关应用研究进行述评,讨论了相关研究所存在的一系列问题和改进建议,有助于彰显和谐管理理论的应用价值,并加强和谐管理理论的研究和应用。为了使读者对和谐管理理论有更为深入及在一定程度上统一的认识,本文以介绍和谐管理理论基本思想与特点作为开头,并深入回顾了和谐管理理论在不同领域以及行业中的应用。同时,本文也发现和谐管理理论相关应用研究存在着分布不均、理论联系度较低、理论与实践关联度不足以及和谐耦合机制相关研究不足的问题,并提出从深化和谐管理理论本身、扩大理论影响力以及加强相关应用研究等方面入手的改进建议。     

我国区域科技发展不均衡及其成因研究

从熵理论出发,引入THEIL不均衡指数,对我国区域科技发展水平的不均衡性进行了定量评价,结果显示:在20世纪90年代初,我国各地区科技发展水平的不均衡性有较大的改善,但从1993年开始,不均衡性又逐渐增加。针对这一现实问题,对我国区域科技发展不均衡特征与趋势及其成因进行了相关探讨。     

领导理论的演化和前沿进展

对1个世纪以来领导理论研究中的主要历史性成果进行梳理,将其发展脉络分为3个历史阶段进行述评:传统领导理论丛林时期、变革领导理论主导时期和四因素理论萌芽时期;强调每一个领导理论都是在特定背景下对领导实践的一种特定反映和解释,都为该理论的发展做出了重要的历史贡献,并不存在一个绝对的最佳领导模型;最后对领导理论的未来研究进行了展望。     

可持续发展的指标体系与发展规划优选模型的研究

可持续发展的概念已被全球接受,这方面的研究已成为国际关注的热点,但是仍有许多理论和方法问题没有得到解决,尤其是如何判别一个地区发展是否可持续？如何制订可持续发展模式？本文将根据可持续发展的基本原理,提出可持续发展的指标体系和可持续发展规划优选模型的设计思想。     

Quo Vadis? Suggestions for future corporate governance research

In this paper I first review the basic tenets of agency theory and theory of managerial capitalism as well as some of the major research in these areas then suggest for areas for future research that go beyond the extant empirical work. First, I suggest that it would be useful to reconsider the basic nature of the agency relationship, taking into account that while equity holders can be considered the principal, the board of directors may be more realistically in need of agent-like controls. Second, the complementary or supplementary nature of the monitoring/incentive alignment relationship has been shown theoretically but the empirical evidence is equivocal and needs future investigation. Third, there has been very limited research on the construct validity of archival measures of the sort used in agency theory. This requires the use of methodologies outside those of the more conventional type used in agency theory (i.e., from economics and finance). Finally, agency theory development would profit greatly by more extensive use of research methods such as laboratory studies and survey methodology and the integration of concepts such as personality and control processes.

基于多目标规划的中国可持续发展模式优化研究

本文以人口(Population)、资源(Resource)、经济(Economy)、环境(Environment)和科技(Science & Technolo gy)为核心,构造了PREEST系统模型。以PREEST系统为对象,运用主成分分析法对1987-2001年度中国的可持续发展水平进行了综合评价;借助多目标规划理论,构建了中国可持续发展多目标集成模型,并以"十五"计划纲要为基准,开展了中国可持续发展规划研究的实证分析。在此基础上,通过对"十五"期间中国可持续发展传统模式和规划模式的对比分析,就中国人口、资源、经济、环境和科技等领域的协调发展提出了政策建议。     

Advancing Theory in Entrepreneurship from the Lens of Operations Management

Early writings in economics describe the entrepreneur's role in terms of bearing the uncertainty inherent in new undertakings. Much of the research published in the pages of Production and Operations Management deals with management under uncertainty. The shared concerns over the impacts of multiple types of uncertainty suggest that research on Operations Management (OM) can play a role in the development of theory in entrepreneurship. We discuss aspects of such a role from two perspectives. First, we consider several topics in the OM literature that have clear applications or parallels in entrepreneurship. These topics include innovation, the management of technology, new product development, flexibility, and hedging strategies. Understanding these topical connections should aid in the development of tools and applications central to the practice of entrepreneurship. On another level, when we consider how the approaches to many of these topics in OM are grounded in theory adapted from Operations Research and Economics we argue that these same roots can be used as starting points for the development of theory in entrepreneurship. As examples, we will argue that the theoretical bases supporting robust optimization, stochastic dynamic programming, and even Total Quality Management can also serve as foundations of theories about the roles, practice, and behaviors of entrepreneurs.     

The Choice of Governance Modes of International Franchise Firms — Development of an Integrative Model

This paper examines the evolution of the international franchise research with special focus on the governance modes of the international franchise firm and develops a new model for the franchisor's choice of the international governance modes. International governance modes in franchising refer to wholly-owned subsidiaries, joint venture franchising, area development franchising and master franchising. Although many studies on the governance modes of the international franchise firm have been published in the last two decades, no prior study develops an integrative framework that investigates the determinants of the international governance modes by combining organizational economics and strategic management perspectives. Specifically, this study explains the governance modes of the international franchise firm by applying transaction cost theory, agency theory, resource-based and organizational capabilities theory and property rights theory.     

Theory Development in Operations Management: Extending the Frontiers of a Mature Discipline via Qualitative Research

This invited paper discusses theory development in operations management. Many stellar researchers have made excellent contributions to theory development in our field. Operations management is a maturing discipline. Recently, theory driven empirical research has become common in top‐tier journals in our field. Impelled by this trend and due to the path dependency of research, in general, researchers have examined operations phenomena using theories from management and organizational science. How do we extend the frontiers of knowledge in our maturing discipline? How do we develop theories within the field of operations management? In examining some of the seminal ideas that have shaped our field, a common characteristic is that they relied on observational studies and conceptual reasoning. Is it time for us to stress the usefulness of qualitative research methods in our field? Could this lead to an intellectual renewal in our field and extend the frontier of a maturing discipline? This paper explores these questions and advances the notion that qualitative analysis needs to be emphasized more than it has been in recent past. This paper is meant to provoke discussion among empirical researchers in operations management.     

The Effect of Geographic Proximity to Unconventional Oil and Gas Development on Public Support for Hydraulic Fracturing

With the rapid growth of unconventional oil and natural gas development transforming the U.S. economic and physical landscape, social scientists have increasingly explored the spatial dynamics of public support for this issue—that is, whether people closer to unconventional oil and gas development are more supportive or more opposed. While theoretical frameworks like construal‐level theory and the “Not in My Backyard” (or NIMBY) moniker provide insight into these spatial dynamics, case studies in specific locations experiencing energy development reveal substantial variation in community responses. Larger‐scale studies exploring the link between proximity and support have been hampered by data quality and availability. We draw on a unique data set that includes geo‐coded data from national surveys (nine waves; n  = 19,098) and high‐resolution well location data to explore the relationship between proximity and both familiarity with and support for hydraulic fracturing. We use two different measures of proximity—respondent distance to the nearest well and the density of wells within a certain radius of the respondent's location. We find that both types of proximity to new development are linked to more familiarity with hydraulic fracturing, even after controlling for various individual and contextual factors, but only distance‐based proximity is linked to more support for the practice. When significant, these relationships are similar to or exceed the effects of race, income, gender, and age. We discuss the implications of these findings for effective risk communication as well as the importance of incorporating spatial analysis into public opinion research on perceptions of energy development.     

Advancing the science of 21st-century leadership development: Theory,research, and practice

Leadership development seeks to understand, predict, and intervene effectively in addressing the questions of how individuals develop as leaders and how collections of individuals develop a capacity for leadership. These questions are attracting scholars interested in the factors and processes involved in developing leaders and leadership. Presented in the special issue is a set of state-of-the-science empirical studies and theory development articles representing 21st century leadership development. We also provide a brief overview of issues related to the leadership development field – broadly construed to include individual leader development – that are especially pertinent and where the research evidence is scarce or contradictory. These areas are theoretical foundations of leadership development, practices and methods of development and talent selection for development, accurately estimating return on investment for leadership development initiatives, the role of time in developing leaders and leadership, understanding and remedying biases and inequities in leadership development, and the role of development in mitigating the so-called dark side of leadership. Although we have learned much about leader and leadership development over the past 20 years, there is an ongoing need for more research and theory development especially with respect to identifying causally and practically relevant knowledge able to inform policy.