CEO burnout,managerial discretion,and firm performance: The role of CEO locus of control,structural power,and organizational factors

Despite the possibility of burnout resulting from dynamics in firms' upper echelons, little if any work has focused on chief executive officer's (CEO's) burnout and firm performance. Drawing on managerial discretion theory, this article analyzes the influence of CEO burnout on firm performance and the moderating roles of the individual (CEO locus of control), structural power (CEO duality and CEO tenure), and organizational characteristics (size, age, and resource availability) related to managerial discretion. Using a sample of 156 CEOs in Swedish firms, we find a negative association between CEOs who report higher burnout and firm performance. Our results confirm that CEO duality and resource availability ameliorate and firm size exacerbates the negative association between CEO burnout and firm performance. Contrary to our expectations, CEO locus of control, CEO tenure, and firm age do not influence this relationship. We discuss the implications of our research for upper echelons theory and strategic leadership theory.     

Work overload and intimidation: The moderating role of resilience

Work overload is a critical but understudied stressor at work, particularly for boundary-spanning positions. Recent studies have highlighted the need for more research on the identification of different predictors of the use of intimidation, a type of assertive impression management tactic. Relying on Lazarus's transactional theory, this study hypothesized and investigated a mediated moderation model that includes resilience, work overload, and its outcomes.This paper contributes to the organizational literature by examining the use of intimidation by salespeople as a reaction to stressful circumstances and the association between this tactic and salespeople's performance. The information provided by 248 employee–supervisor dyads confirmed the proposed model. Work overload has a positive association with intimidation, and the direct effect of work overload on intimidation depends on the level of an employee's resilience. Finally, the use of intimidation has a negative association with supervisor-rated performance.     

A feasibility approach for constructing combinatorial designs of circulant type

In this work, we propose an optimization approach for constructing various classes of circulant combinatorial designs that can be defined in terms of autocorrelation. The problem is formulated as a so-called feasibility problem having three sets, to which the Douglas–Rachford projection algorithm is applied. The approach is illustrated on three different classes of circulant combinatorial designs: circulant weighing matrices, D-optimal matrices of circulant type, and Hadamard matrices with two circulant cores. Furthermore, we explicitly construct two new circulant weighing matrices, a CW(126, 64) and a CW(198, 100), whose existence was previously marked as unresolved in the most recent version of Strassler’s table.     

Single cycle policies for the one-warehouse N-retailer inventory/distribution system

We address a multi-echelon inventory system with one-warehouse and N  -retailers. The demand at each retailer is assumed to be known and satisfied by the warehouse. Shortages are not allowed and lead times are negligible. Costs at each facility consist of a fixed charge per order and a holding cost. The goal is to determine single-cycle policies which minimize the average cost per unit time, that is, the sum of the average holding and setup costs per unit time at the retailers and at the warehouse. We propose a O(NlogN) heuristic procedure to compute efficient single-cycle policies. This heuristic is compared with other approaches proposed by Schwarz, Graves and Schwarz and Muckstadt and Roundy. We carry out a computational study to test the effectiveness of the heuristic and to compare the performance of the different procedures. From the computational results, it is shown that the new heuristic provides, on average, better single-cycle policies than those given by the Muckstadt and Roundy method.     

An Empirical Analysis of Monitoring Behaviour and Private Benefits of Investors in the Spanish Market

The objective of our study is to look for anequilibrium among three factors: the privatebenefits that main shareholders can obtain fromthe firm, the social benefits derived from acertain ownership structure (such assupervision and alignment of interests) and thecosts derived from ownership concentration(such as loss of liquidity and riskdiversification). Our empirical analysis allowsus to conclude that the supervisory role ofownership is more intense in firms where thepotential conflict of interest betweenshareholders and managers is greater, andtherefore the value of the firm can beincreased through a specific composition of itsshareholders.     

A new way of quantifying the symmetry of a random variable: Estimation and hypothesis testing

New measures of skewness for real-valued random variables are proposed. The measures are based on a functional representation of real-valued random variables. Specifically, the expected value of the transformed random variable can be used to characterize the distribution of the original variable. Firstly, estimators of the proposed skewness measures are analyzed. Secondly, asymptotic tests for symmetry are developed. The tests are consistent for both discrete and continuous distributions. Bootstrap versions improving the empirical results for moderated and small samples are provided. Some simulations illustrate the performance of the tests in comparison to other methods. The results show that our procedures are competitive and have some practical advantages.     

Estimating infant mortality in Colombia: some overdispersion modelling approaches

It is common to fit generalized linear models with binomial and Poisson responses, where the data show a variability that is greater than the theoretical variability assumed by the model. This phenomenon, known as overdispersion, may spoil inferences about the model by considering significant parameters associated with variables that have no significant effect on the dependent variable. This paper explains some methods to detect overdispersion and presents and evaluates three well-known methodologies that have shown their usefulness in correcting this problem, using random mean models, quasi-likelihood methods and a double exponential family. In addition, it proposes some new Bayesian model extensions that have proved their usefulness in correcting the overdispersion problem. Finally, using the information provided by the National Demographic and Health Survey 2005, the departmental factors that have an influence on the mortality of children under 5 years and female postnatal period screening are determined. Based on the results, extensions that generalize some of the aforementioned models are also proposed, and their use is motivated by the data set under study. The results conclude that the proposed overdispersion models provide a better statistical fit of the data.     

Modelling human immunodeficiency virus ribonucleic acid levels with finite mixtures for censored longitudinal data

The measurement of human immunodeficiency virus ribonucleic acid levels over time leads to censored longitudinal data. Suitable models for dynamic modelling of these levels need to take this data characteristic into account. If groups of patients with different developments of the levels over time are suspected the model class of finite mixtures of mixed effects models with censored data is required. We describe the model specification and derive the estimation with a suitable expectation-maximization algorithm. We propose a convenient implementation using closed form formulae for the expected mean and variance of the truncated multivariate distribution. Only efficient evaluation of the cumulative multivariate normal distribution function is required. Model selection as well as methods for inference are discussed. The application is demonstrated on the clinical trial ACTG 315 data.     

A Sarmanov family with beta and gamma marginal distributions: an application to the Bayes premium in a collective risk model

In this paper we firstly develop a Sarmanov–Lee bivariate family of distributions with the beta and gamma as marginal distributions. We obtain the linear correlation coefficient showing that, although it is not a strong family of correlation, it can be greater than the value of this coefficient in the Farlie–Gumbel–Morgenstern family. We also determine other measures for this family: the coefficient of median concordance and the relative entropy, which are analyzed by comparison with the case of independence. Secondly, we consider the problem of premium calculation in a Poisson–Lindley and exponential collective risk model, where the Sarmanov–Lee family is used as a structure function. We determine the collective and Bayes premiums whose values are analyzed when independence and dependence between the risk profiles are considered, obtaining that notable variations in premiums values are obtained even when low levels of correlation are considered.     

Nonlinear models of disability and age applied to census data

It is usually considered that the proportion of handicapped people grows with age. Namely, the older the man/woman, the more the level of disability he/she suffers. However, empirical evidence shows that this assessment is not always true, or at least, it is not true in the Spanish population. The study tries to assess the impact of age on disability in Spain. Each gender has been treated separately because it can be shown that men and women have their own pattern of behaviour. Three different methods of estimation have been used to check the link between those variables. The results seem to support the idea that the relationship among age and the intensity of disability is not always direct. One of the concluding remarks in this analysis is that the method of estimation has a great incidence in the final results, especially in central ages between 20 and 80 years old.