• Negative bubbles and shocks in cryptocurrency markets

      Fry, John; Cheah, E-T. (2016-10)
      In this paper we draw upon the close relationship between statistical physics and mathematical finance to develop a suite of models for financial bubbles and crashes. The derived models allow for a probabilistic and statistical formulation of econophysics models closely linked to mainstream financial models. Applications include monitoring the stability of financial systems and the subsequent policy implications. We emphasise the timeliness of our contribution with an application to the two largest cryptocurrency markets: Bitcoin and Ripple. Results shed new light on emerging debates over the nature of cryptocurrency markets and competition between rival digital currencies.
    • The negative effects of social capital in organisations: a review and extension

      Pillai, Kishore G.; Hodgkinson, Gerard P.; Kalyanaram, G.; Nair, S.R. (2016)
      Numerous studies have examined the positive effects of social capital in organizations, whereas the possible negative effects have attracted considerably less scholarly attention. To rectify this imbalance, this paper first undertakes a rigorous review of the published scholarly empirical evidence pertaining to the negative effects of social capital in organizations through a search of Web of Knowledge and Scopus, and then enumerates six potentially negative effects arising from increased levels of social capital. Our analysis focuses on negative effects arising from bonding social capital and those arising from dense networks and closure, advancing new theory to elucidate the generative mechanisms that give rise to the proposed negative effects. Finally, we identify potential moderators of the negative effects thus theorized. Using the lens of social identification theory, we argue that dysfunctional identification processes restrict the processing of information and stimulate over commitment to established relationships, diluting in turn the dialectical process, and inhibiting individual learning within organizations, culminating in groupthink, the postponement of structural adjustments, the non-rational escalation of commitment, and the blurring of firms’ boundaries. Our analysis thus furthers the agenda of a more balanced inquiry into the effects of social capital in organizations.
    • Neutralization techniques as a moderating mechanism: ethically questionable behavior in the Romanian consumer context

      Fukukawa, Kyoko; Zaharie, M-M.; Romonti-Maniu, A-I. (2019-02)
      Based on an empirical investigation in the context of Romania, this paper identifies a moderating role of neutralization techniques within ethically questionable consumer behavior. The quantitative study is based upon a synthesized model of Theory of Planned Behavior incorporating the factor of perceived unfairness and neutralization techniques. Significantly, neutralization techniques are shown to have a negative, but definite impact on the action to behave unethically. This leads to their consideration as a process of thinking, rather than as static judgement. As such, neutralization techniques are conceptually distinctive to the other factors. The paper analyses the results specific to the Romanian context, but noting implications for an understanding of the morality of markets with similar historical, political and economic conditions. Overall, the findings offer a more nuanced reading of consumer behavior. The paper places moral flexibility in terms of a specific cultural context, but also reveals how neutralization techniques can moderate ethically questionable behaviors beyond matters of self-interest, which in turn has implications for how companies can consider their responsibilities in relation to their customers.
    • A New Approach to Measuring Market Expectations and Term Premia

      Ye, Xiaoxia (2015)
      This article develops a novel approach for measuring market expectations and term premia in the term structure of interest rates. Key components of this approach are generic impact measures of state variables in a Gaussian dynamic term structure model. These measures are inherent in a particular state variable regardless of how other state variables are defined within the model. With the help of these measures, the approach gives rise to market expectations that predict yield changes well, and term premia with a legitimate impact on the forward curve. In my empirical analysis, I show the generic impact of the short rate on the yield curve, and present observations of the historical dynamics of market expectations and term premia. The calibrated model is also employed to study the impacts of recent unconventional monetary policies.
    • New evidence on the price and liquidity effect of the FTSE100 index revisions.

      Mazouz, Khelifa; Saadouni, B. (2007)
      We study the price and liquidity effects following the FTSE 100 index revisions. We employ the standard GARCH(1,1) model to allow the residual variance of the single index model (SIM) to vary systematically over time and use a Kalman filter approach to model SIM coefficients as a random walk process. We show that the observed price effect depends on the abnormal return estimation methods. Specifically, the OLS-based abnormal returns indicate that the price effect associated with the index revision is temporary, whereas both SIM with random coefficients and GARCH(1,1) model suggest that both additions and deletions experience permanent price change. Added (removed) stocks exhibit permanent (temporary) change in trading volume and bid-ask spread. The analysis of the spread components suggests that the permanent change associated with additions is a result of non-information-related liquidity. We interpret the permanent price effect of additions and deletions combined with the permanent (temporary) shift in liquidity of added (removed) stocks as evidence in favour of the imperfect substitution hypothesis with some non-information-related liquidity effects in the case of additions.
    • New technology and changing organisational forms: implications for managerial control and skills.

      Grimshaw, D.; Cooke, F.L.; Grugulis, C. Irena; Vincent, S. (2002)
      Changes in organisational forms are central to the way new technologies impact on the future of work and employment. Drawing on case¿study evidence of a call centre and its client relations and a multinational IT firm and its partnership with a government department, this paper explores the implications for skill and managerial control.
    • Nothing serious? Candidates¿ use of humour in management training

      Grugulis, C. Irena (2002)
      This article explores the use made of humour in three different private sector organisations. It draws on observations of managers working towards a management qualification and, from the jokes they exchange, it argues that studying humour may offer insights into sentiments not easily articulated in `serious¿ conversation. Humour¿s ambiguity enables contentious statements to be made without fear of recrimination. Equally, constructing jokes by juxtaposing two different frames of reference provides a glimpse of alternative (and shared) perceptions of `reality¿. This sensitivity to complexity makes humour a particularly appropriate vehicle for conveying ambitions, subversions, triumphs and failures and this article considers some of the `serious¿ messages underlying the jokes.
    • Off the rails: the cost performance of infrastructure rail projects

      Love, P.E.D.; Zhou, J.; Edwards, D.J.; Irani, Zahir; Sing, C-P. (2017-05)
      Governments in Australia place great emphasis on the development and expansion of their rail networks to improve productivity and service the increasing needs and demands from businesses and commuters. A case study approach is used to analyze the cost performance of 16 rail projects constructed by a contractor between 2011 and 2014, which ranged from AU$3.4 to AU$353 million. Findings indicate that scope changes during construction were the key contributors that lead to the amendment of each project’s original contractual value. As a result, there is a need for public and private sector asset owners to establish a cost contingency using a probabilistic rather than a deterministic approach to accommodate the potential for scope changes during construction. To improve cost certainty during the construction of rail projects, it is suggested that use of collaborative forms of procurement juxtaposed with the use of Building Information Modelling and Systems Information Modelling are implemented. The utilization of such technological and process innovations can provide public and private sector asset owners charged with delivering and maintaining their rail networks with confidence projects can be delivered within budget and are resilient to unexpected events and adaptable to changing needs, uses or capacities.
    • On the Dialectics of Charisma in Marina Abramović’s 'The Artist is Present'

      Senior, A.; Kelly, Simon (2016-06)
      While ‘charisma’ can be found in dramatic and theatrical parlance, the term enjoys only minimal critical attention in theatre and performance studies, with scholarly work on presence and actor training methods taking the lead in defining charisma’s supposed ‘undefinable’ quality. Within this context, the article examines the appearance of the term ‘charismatic space’ in relation to Marina Abramović’s retrospective The Artist is Present at New York’s Museum of Modern Art in 2010. Here Abramović uses this term to describe the shared space in which performer and spectator connect bodily, psychically, and spiritually through a shared sense of presence and energy in the moment of performance. Yet this is a space arguably constituted through a number of dialectical tensions and contradictions which, in dialogue with existing theatre scholarship on charisma, can be further understood by drawing on insights into charismatic leaders and charismatic authority in leadership studies. By examining the performance and its documentary traces in terms of dialectics we consider the political and ethical implications for how we think about power relations between artist/spectator in a neoliberal, market-driven art context. Here an alternative approach to conceiving of and facilitating a charismatic space is proposed which instead foregrounds what Bracha L. Ettinger calls a ‘matrixial encounter-event’: A relation of coexistence and compassion rather than dominance of self over other; performer over spectator; leader over follower. By illustrating the dialectical tensions in The Artist is Present, we consider the potential of the charismatic space not as generated through the seductive power or charm of an individual whose authority is tied to his/her ‘presence’, but as something co-produced within an ethical and relational space of trans-subjectivity.
    • On the Manager's Body as an Aesthetics of Control.

      Harding, Nancy H. (2003)
      Over the last decade or so, aesthetic and art theory has played an increasingly significant role in the way work and its organization has come to be understood. Bringing together the work of an international spectrum of academics, this collection contributes, in an overall more critical vein, to such emerging debates. Combining both empirical and theoretical material, each chapter re-evaluates the emerging relationship between art, aesthetics and work, exploring its potential as both a medium of critical analysis, and as a site of conflict and resistance.
    • Online Banking Information Systems Acceptance: An Empirical Examination of System Characteristics and Web Security

      Hussain Chandio, F.; Irani, Zahir; Zeki, A.M.; Shah, A.; Shah, S.C. (2017)
      Prior work on the technology acceptance model (TAM) is mainly devoted to the influence of TAM’s core motivational factors and their impact on behavioral intent toward IS acceptance. Relatively little research has focused on what specific system design characteristics motivate individuals toward IS acceptance. This article identified specific systems design factors and examined their impact on TAM’s motivational factors through the TAM. The findings will help designers to design and implement better user-accepted systems.
    • Online expansion: is it another kind of strategic manufacturer response to a dominant retailer?

      He, R.; Xiong, Y.; Cheng, Y.; Hou, Jiachen (2016)
      The issues of channel conflict and channel power have received widespread research attention, including Geylani et al.’s (2007) work on channel relations in an asymmetric retail setting. Specifically, these authors suggest that a manufacturer can respond to a dominant retailer’s pricing pressure by raising the wholesale price for a weak retailer over that for the dominant retailer while transferring demand to the weak retailer channel via cooperative advertising. But, is online expansion another kind of strategic manufacturer’s optimal response to a dominant retailer? In this paper, we extend this work by adding a direct online selling channel to illustrate the impact of the manufacturer’s internet entry on firms’ demands, profits, and pricing strategies and on consumer welfare. Our analysis thus includes a condition in which the manufacturer can add an online channel. If such an online channel is opened, the channel-supported network externality will always benefit the manufacturer but hurt the retailers. Consumers, however, will only benefit from the network externality when a dominant retailer is present and will be hurt when both retailers are symmetric.
    • Open data and its usability: an empirical view from the Citizen’s perspective

      Weerakkody, Vishanth J.P.; Irani, Zahir; Kapoor, K.; Sivarajah, Uthayasankar; Dwivedi, Y.K. (2017)
      Government legislation and calls for greater levels of oversight and transparency are leading public bodies to publish their raw datasets online. Policy makers and elected officials anticipate that the accessibility of open data through online Government portals for citizens will enable public engagement in policy making through increased levels of fact based content elicited from open data. The usability and benefits of such open data are being argued as contributing positively towards public sector reforms, which are under extreme pressures driven by extended periods of austerity. However, there is very limited scholarly studies that have attempted to empirically evaluate the performance of government open data websites and the acceptance and use of these data from a citizen perspective. Given this research void, an adjusted diffusion of innovation model based on Rogers’ diffusion of innovations theory (DOI) is proposed and used in this paper to empirically determine the predictors influencing the use of public sector open data. A good understanding of these predictors affecting the acceptance and use of open data will likely assist policy makers and public administrations in determining the policy instruments that can increase the acceptance and use of open data through an active promotion campaign to engage-contribute-use.
    • Operations management research: contemporary themes, trends and potential future directions

      Taylor, Andrew; Taylor, Margaret (2009)
      Purpose The purpose of this paper is to identify the contemporary research themes published in IJOPM in order to contribute to current debates about the future directions of operations management (OM) research. Design/methodology/approach All 310 articles published in IJOPM from volume 24 issue 9 in 2004 through volume 29, issue 12 in 2009 are analysed using content analysis methods. This period of analysis is chosen because it represents all the articles published in issues for which the authors are able to have full control, during their period of tenure as Editors of the journal. This analysis is supplemented by data on all 1,853 manuscripts submitted to the journal during the same time period and further, by analysis of reviews and feedback sent to all authors after review. Findings The paper reports the main research themes and research methods inherent in the 310 published papers. Statistics on the countries represented by these papers and the size and international composition of author teams are provided, together with the publication success rates of the countries that submit in the highest volumes, and the success rates associated with the size of the author team. Finally, data on the reasons for rejection of manuscripts are presented. Research limitations/implications There is some residual inaccuracy in content analysis methods, whereby, in extracting research themes there is often more than one topic covered. In the same vein, as regards categorisation of the causes of rejection of manuscripts during the review process, there is frequently more than one reason for rejection, so perhaps a weighted scoring system would have been more insightful. In determining the country of origin of papers, while the country of the corresponding author is used, it should be recognised that some studies originate from international collaborations so that this method may give a slightly distorted picture. Finally, in computing publication success rates by comparison of submissions and published papers there is a time delay between the two data sets within any defined period of analysis. Practical implications The analysis adds generally to debates about contemporary research themes; in particular it extends the work of Pilkington and Fitzgerald, which analyses all articles solely in IJOPM between 1994 and 2003. In addition, the findings suggest a need for more frequent exploitation of multiple research methods, for greater rigour in the planning and execution of fieldwork, for greater engagement with the world of OM practice and finally, consideration of how OM research can address wider social and political issues. Originality/value This paper represents an inside view of the publication process from a leading OM journal; this kind of insight is rarely available in the public domain.
    • An operations perspective on strategic alliance success factors in the software industry: An exploratory study of alliance managers in the software industry.

      Taylor, W. Andrew (Emerald, 2005)
      Purpose ¿ To explore alliance managers' perceptions of the most significant determinants of strategic alliance success in the software sector. Design/methodology/approach ¿ The study is based on 30 key informant interviews and a survey of 143 alliance managers. Findings ¿ While both structural and process factors are important, the most significant factors affecting alliance success are the adaptability and openness of the alliance partners, human resource practices and partners' learning capability during implementation. Alliance partners should pay more attention to operational implementation issues as an alliance evolves, in order to achieve successful cooperative relationships. Research limitations/implications ¿ This research has responded to the call for more empirical study of the underlying causes of successful alliances. It contributes to the ongoing debate about which factors have most impact on strategic alliance outcomes, and complements prior research on several dimensions. First, using selected interview quotations to illuminate the quantitative analysis, it contributes to a deeper understanding of the alliance process, and reduced the ambiguity about which factors are most influential. In particular, the study provides support for those authors who have argued for the relative importance of the alliance implementation process. Second, support has also been found for the prominence of learning capability and the inter-partner learning process as a major component of effective alliance implementation. Third, the results are based on the views of practicing alliance managers, which addresses a recognized gap in the literature. Practical implications ¿ The results send a signal to senior managers contemplating strategic alliances that they should not underestimate the importance of alliance process factors and the role that alliance managers play in achieving successful alliance relationships. This is particularly important, given the high levels of alliance failure reported in the extant literature. Originality/value ¿ While past research on strategic alliances has placed more emphasis on the importance of alliance formation than on implementation, there is an ongoing debate about whether structural, formation factors have more influence on alliance success than implementation or process factors. There has been only limited empirical work examining this interplay between structure and process, particularly from an operations perspective, and very few studies have examined strategic alliances in the software industry.
    • Optimizing enterprise risk management: a literature review and critical analysis of the work of Wu and Olson

      Choi, Y.; Ye, Xiaoxia; Zhao, L.; Luo, A.C. (2016-02)
      Risks exist in all aspects of our lives. Using data in both Scopus and ISI Web of Science, this review paper identifies pioneer work and pioneer scholars in enterprise risk management (ERM). Being ranked the first based on the review data, Desheng Wu has been active in this area by serving as a good academic network manager on the global research network, His global efforts with diverse networking have enabled him to publish outstanding papers in the field of ERM. Therefore, this paper also conducts a literature review of his papers and critical analysis of the work of Wu and Olson, from the perspective of the ERM, to glean implications and suggestions for the optimization and customization of the ERM.